TCS SAP Fico Consultant Interview Questions and Answers

P2P cycle stands for Procure to Pay cycle, which involves the process of procuring goods or services from a vendor and making payment for them.

• The cycle starts with the need for a product or service, followed by creating a purchase requisition.

• Next, a purchase order is created and sent to the vendor for the requested goods or services.

• Upon receiving the goods or services, the vendor sends an invoice to the buyer.

• T...read more

When an employee is transferred from one region to another country, various actions need to be taken to ensure a smooth transition.

• Update employee's personal information in HR system

• Ensure compliance with local labor laws and regulations in the new country

• Transfer employee's benefits and compensation packages to comply with new country's regulations

• Provide cultural training and support for employee to adjust to ne...read more

Financial statement version is a report that displays financial data in a specific format.

• It is used to create customized financial statements based on company requirements.

• It allows users to define the structure and layout of financial statements.

• It can be used to display data from different accounting areas and periods.

• Examples include balance sheets, income statements, and cash flow statements.

FI is for financial accounting and CO is for controlling in SAP.

• FI deals with recording financial transactions and generating financial statements.

• CO deals with cost accounting, budgeting, and internal reporting.

• FI is more focused on external reporting while CO is more focused on internal management.

• Examples of FI transactions include posting journal entries, creating customer invoices, and processing vendor payme...read more

GL accounting entries record financial transactions in SAP, impacting various accounts based on the nature of the transaction.

• Debit and Credit: Each transaction affects at least two accounts, one debited and one credited.

• Example: A sale of goods for $1,000 would debit Cash and credit Sales Revenue.

• Account Types: Different accounts (assets, liabilities, equity, revenue, expenses) have specific rules for debits and ...read more

Porter's model analyzes industry competition, advertisement influences market positioning, cash flow reflects financial health, balance sheet shows assets and liabilities.

• Porter's model is a framework that helps analyze industry competition and develop competitive strategies.

• Advertisement plays a crucial role in influencing market positioning and brand perception.

• Cash flow is a measure of the money flowing in and ...read more