SAP FI Certification

Tips for Passing the SAP FI Certification Exam

After having gone through the SAP FI certification training material, it is now time to take the exam. Before you begin, there are some key features of the FI Associate Certification Exam that you should be aware of. Firstly, remember that the exam is computer based and the exam time is three hours, during which you need to answer eighty questions. Secondly, keep in mind that the SAP FI certification questions are mostly of the multiple choice type and there is deduction of marks for an incorrect answer. Some of the questions have more than one correct answer. To get awarded points for such questions, you must get all the answer options correct. Usually the official pass percentage is 65%. However, the pass percentage may vary, so you will be informed of the exact pass percentage before your begin the exam. Now that you have seen the type of questions and the passing score for the exam, let us look at some tips before you sit for the SAP FI certification exam. First of all, it is important to understand the concepts. Do not blindly memorize. If possible, you can practise the configuration part, although it is not mandatory. Prepare yourself basing your study on the syllabus, and not the text books, as you can be sure that 99% of the questions will be set from the syllabus. You need to cover all the chapters, as you are most likely to get questions chapter wise, such as AA, APP, New GL, Masters, and so on. Do not expect straight questions.

Most importantly, decide on the certification date only after you finish one round of study of all the topics covered in the syllabus. People who have passed the SAP FI Certification test recommend concentrating on topics such as TFIN50 and TFIN52. These two topics are usually more than enough and you will not need any other supporting material, except this. Be sure that you cover the following topics from the text book.

• Document Control
• Controlling Org Types and Master Data
• Schedule Manager
• Finance Master Data
• Payment Program, Dunning Program, Correspondence, Interest Calculation
• Periodic Processing
• Planning
• Overhead Orders
• Profit Centre Accounting
• Solution Manager

The textbooks will usually also contain sample SAP FI certification questions. Some of the questions which you can expect are as follows:

Usually one Chart of Depreciation is defined for each country. At which level is the chart of Depreciation created? (Single)

A. at Company Code level

B. at Client level.

C. at Chart of accounts level.

D. at Business area level.

E. at System level.

What are the functions asset class? (Multi)

A. Asset number assignment.

B. Cost Center determination.

C. Screen layout

D. Account allocation

E. Definition of default value.

Usually, the answers to these model questions are given at the back of the page or the book. It is a good idea to try and solve these sample SAP FI certification questions as much as possible, for not only will it help you practise the concepts you have learnt but it will also help improve your speed of answering questions.

To know more about SAP FI certification material and to gain some insightful knowledge on SAP FI then visit our website.

The Advantages of SAP FI

The Financial Accounting module in SAP is created to portray a company’s business transactions in a way such that it satisfies external reporting requirements. The system has the facility to track and report on multiple companies across countries with different currencies. The software also enables an integration with sales and distribution, materials management and purchasing and enables the user to drill down to the original transaction, be it a sales order a purchase order or the movement of materials.

SAP FI, the Financials module is believed to be the central point of an integrated SAP system because everything that has a financial impact in the other modules actually results in flowing to FI, automatically in real time. The financial impact of the transactions in other modules gets posted to FI. Hence it is important to configure the FI/CO system as soon as possible, as this will be the supporting skeletal framework of the entire system as a whole.

The SAP FI module includes the following sub-modules:

• General Ledger (FI-GL)
• Accounts Payable (FI-AP)
• Accounts Receivable (FI-AR)
• Bank Accounting (FI-BL)
• Asset Accounting (FI-AA)
• Funds Management (FI-FM)
• Travel Management (FI-TV)

One of the biggest advantages of SAP is system integration. SAP FI provides one of the most comprehensive worldwide financial management solutions available today. Using SAP FI, an organization can improve corporate performance. Besides, SAP FI enables you to quickly read, appraise, and respond to changing business situations and come up with effective strategies. Besides enabling faster process closes, one can simplify process scheduling, consolidation, collaboration and process workflow. Besides the above, SAP systems also allow for better transparency across units or departments, and improves corporate governance. SAP also provides a greater adherence to federal regulations, accounting standards and provides an improved overall administration of internal controls.

SAP FI also automates credit and collections management and disputes if any. SAP FI also offers generation of bills and invoices as well as payments electronically, which enhance the traditional accounts payable and accounts receivable functions.

Another advantage of SAP FI is a better ability to manage cash across countries, locations or continents. Apart from this, it also allows you to report, assess, and allocate cash in real time, and set up in-house payment centers or banks.

Besides improving financial and managerial reporting, SAP provides the flexibility to report performance according to organization, cost center or business unit, and also improves integration of finance and treasury processes. One can also integrate risk and treasury functions with those of accounting and financial reporting.

SAP provides for a more competitive cost of finance and also helps you innovate processes, team up with partners across a supply chain, and establish service operations worldwide in a collaborative manner.

In addition to the above advantages, SAP FI also deals with a wide range of governance as well as compliance issues, such as the segregation of duties, compliance to the Sarbanes-Oxley standards, as well as adherence to IFRS and Basel II rules and regulations.

To know more about SAP FI certification questions and to gain some insightful knowledge on SAP FI certification material then visit our website.