P_S4FIN_2020 SAP Certified Application Professional Interview Questions

Exam preparation is equally as important as interview preparation. As a result, practicing for an interview takes significantly more time, effort, and confidence than studying for any other exam. Do your best since you only get one chance to make a good first impression. As a result, we’ve done our best to present you with the most up-to-date and expert-reviewed interview questions to help you prepare for the P_S4FIN_2020 SAP Certified Application Professional interview. Furthermore, from beginner to advanced, we have covered all P_S4FIN_2020 SAP Certified Application Professional Interview Questions. As a result, we strongly encourage applicants to prepare with the best and get the greatest results possible.

Some of the most frequently requested P_S4FIN_2020 SAP Certified Application Professional interview questions are listed below. As a result, applicants will have a better grasp of the types and patterns to expect and will be able to prepare accordingly.

1. What is SAP S/4HANA Simple Finance, and how does it work?

SAP S/4HANA Finance is built on SAP HANA, which can be used on-premises or in the cloud. This has been designed to be simple to use and to provide immediate insight for finance professionals. It complements SAP’s existing finance solution portfolio, maintaining its intended strength while allowing for non-disruptive transfer.

2. List the key elements of SAP S/4HANA Finance.

SAP S/4HANA Finance has the following key features:

• Financial Planning and Analysis – Companies can use SAP Finance to forecast, price range, and layout on an ongoing basis. Predictive Analysis allows groups to forecast the impact of commercial enterprise decisions on their organization’s financial reports.
• Finance and Accounting – Corporations can meet criminal terms with the use of Advanced Accounting and Finance capabilities. They can also complete the Finance reviews on time.

• Financial Risk Management – Using Predictive Evaluation, organisations can identify potential risks in their financial processes early on and take action to mitigate them. The unusual achievable finance expenses in relation to market standards are simple to calculate.
• Compliance and Risk Management – Using a strong economic strategy, it is simple to avoid unauthorised access to critical information in the business. It’s all too easy to mistake abuse for deception. Corporations may be able to reduce risk across the board in their financial operations.

3. What is the duration of the posting period?

The posting duration variant determines which normal and special posting times are available for each organisation code. It is conceivable to have a one of a kind posting duration variant for each enterprise code in the firm. The length of the posting is unaffected by the fiscal year.

4.What are the options for moving from SAP to Simple Finance?

There are a few options for companies to transition from SAP’s standard FICO module to Simple Finance (that is SFIN 2.0). Those who are new to GL are able to go straight to Simple Finance. Those who are currently using the old GL plan to switch to the new GL first, then to Simple Finance. This type of migration is only possible with SPRO and does not necessitate professional assistance. There is a distinction between non-SAP Enterprise Resource Planning using SLT and migration from the key factor of Finance that persists with shifting information distributed Enterprise Resource Planning panorama.

5. Is it necessary to create a new Asset Accounting in SAP Simple Finance even if the client never uses Asset Accounting?

There is no need to perform the migration stages in Asset Accounting if there is no data that refers to both customization and transactional facts that need to be migrated. If the customer later decides to use Asset Accounting in their new Asset Accounting, they can personalize it in the IMG.

6. What is Modeling Studio and how does it work?

In SAP S/4Hana Finance, a modeling studio is responsible for a variety of responsibilities. The following are a handful of those that are protected: Handle Data Services to input records from SAP Business Warehouse States, which tables are stored in HANA; the first step is to receive metadata, followed by software data duplication activities; utilize Data Services for modeling, and manage ERP requests connections. Modeling should be done.

7. Is it possible for a corporation to have a high-quality cash float and still be in serious financial trouble?

Yes, it is correct. Even if they are in trouble, a company that is selling stock but deferring payments will have a positive cash flow for a while. Another example would be if an employer has strong revenues for the time being but future estimates show that revenues will decline. This could happen if a company hasn’t concentrated on ensuring that there are new prospects/sales in the pipeline.

8. What is the relationship between Account and File types in P_S4FIN_2020?

A two-character code, such as DG, can be used to distinguish document types, whereas an account type is identified by a single character code, such as D. Identifying the debts to which a single file can be posted. The following are some of the most common account types:

• A Assets
• D Customer (Debtor)
• K Vendor (Creditor)
• M Materials
• S GL

9. Is it possible to convert an existing B/S, GL A/C into a P/L type?

Technically, you will be able to interchange all fields of a G/L account in the Chart of Accounts area, except the account number. However, if you convert the B/S to P&L in the GL account type, you can be confident that the application will be stable to go forward by recording the modifications, which will aid the system in correcting the suitability for the account balances.

10. What are the different compression techniques that are available?

There are three types of compression techniques that are available:

• Cluster Encoding
• Run-length Encoding
• Dictionary Inscribing

11. What is the difference between a document type and a file type?

SAP includes a number of document formats that are utilized in a variety of applications. The record type is used to categorize an accounting transaction within the system and to handle the entire transaction as well as to designate the account types to which a certain document type can submit. The file type AB, for example, allows you to submit to all accounts, whereas the file type DZ only allows you to submit client payments. A number range is assigned to each report type.

12. What are the most pressing grant-making difficulties that organizations are confronted with?

The following are the five major challenges that companies confront today:

• Ignoring the fact that e-commerce is becoming a more important channel in the industrial zone.
• There is little consideration for practical risks such as high transportation expenses.
• Overconfidence in the ability of supply chain management technologies to solve all problems, as well as a reliance on previous performance to forecast future sales.
• Increase the level of complexity supplied to chain operations by implementing unnecessary applied sciences.
• Lack of understanding of suppliers’ and service providers’ full capabilities.

13. How is it possible for an employer to have high-quality net earnings while yet declaring bankruptcy?

Working capital deterioration (i.e., increasing accounts receivable while decreasing bills payable) and financial tricks are two examples.

14. What is the objective of deferred tax liability in P_S4FIN_2020?

The difference between a deferred tax obligation and a deferred tax asset is that a deferred tax liability is the opposite of a deferred tax asset. When a tax price claimed on the earnings statement is not paid to the IRS in the same time period that it is recognized, it is postponed and paid at a later date. Deferred tax obligations can result in invariants of profits as reported on a company’s earnings statement vs what is suggested to the IRS, resulting in lesser taxes payable to the IRS when there are discrepancies in depreciation prices between ebook reporting and IRS reporting (in the quick run).

15. What is SAP Simple Finance’s most important contribution in P_S4FIN_2020?

The SAP Financial and Controlling module (one of SAP’s core modules since R/2 days) has a virtually advanced presentation with excellent width and depth. SAP Simple Finance provides extreme in-memory reporting, which eliminates the barrier between controlling and cash-related reporting, integrates arranging capabilities, and improves liquidity examination. PWC can help accelerate the completion of SAP Simple Finance to Finance projects and become a valuable business partner.

16. Is it feasible for a corporation to have a good cash flow while still being in serious financial trouble?

It is, without a doubt. Despite being in a bad situation, a business that is auctioning off stock while deferring payables will display positive revenue for a while. Another example would be if a firm has strong profitability for a given period, but future estimates show that earnings would decline. This occurs when a company fails to focus on ensuring that new prospects/deals are in the pipeline.

17. Explain the concept of grouping as well as levels in P_S4FIN_2020.

With a large number of defined categories and degrees, grouping determines how to summarise the data. A Group accumulates a range of financial institution loans and consists of a number of Levels. As a result, A-Level denotes the data sources or account transactions.

18. What is the nature of the transport request?

A Transportation Request is a sort of change request that is made in the development system. The information about the type of alteration, the transportation goal, the requested category, and the target system is all saved. Change Requests are another name for it.

19. What characteristics distinguish a desirable financial model?

It’s critical to have solid monetary modeling foundations. Wherever it is necessary for feasible model assumptions (inputs) to be in one place and extremely colored (typically financial institution models use blue font for mannequin inputs). Customers can also understand how inputs are transformed into outputs with the use of good Excel models. Error checks are also included in good Excel models to confirm that the mannequin is working properly (e.g. the balance sheet balances, the money glide calculations are correct, etc.). They offer a dashboard that honestly displays the essential outcomes via charts and graphs, and they provide enough detail but not too much.

20. What is the alternate document rule in P_S4FIN_2020?

SAP’s standard document forbids changing relevant fields after a file has been posted; any adjustments must be made via reversal or additional postings. A few fields, such as currency, employer code, business area, amount, account number, posting key, and so on, cannot be changed once the document has been posted. Nonetheless, SAP permits changes to some line object data, such as the charging method, charge block, residence bank, dunning level, dunning block, and so on. These can be modified files by utilizing files or by using bulk alternate for a large number of archives in one go. The changes made to better interpret information are tracked and saved for each individual.

21. Is the Net Asset account required even if the customer never uses asset accounting?

Since there is no data in Asset Accounting that describes both transactional and customizing data that has to be migrated, there is no requirement to complete the migration stage. If you decide to use Asset Accounting in the future for new asset accounting, you can customize the IMG.

22. What is activity-based costing, and how does it work in P_S4FIN_2020?

It is a method for assisting in the breakdown of expenditures into specific tasks in order to maintain accuracy in the distribution of charges in product pricing.

23.Can a Company Code have several Charts Of Accounts (COA)?

An organization code can have one or more operative charts of accounts associated with it. A commercial enterprise code should be assigned to COA. This COA is used in both FI and CO and is known as the operative COA. A single Chart of Accounts can be allocated to many Company codes, i.e., multiple company enterprise codes can either share the same COA or have their own COA. In addition to the operational COA, a corporation code (country-specific company code or international company code) can have an exact COA. In the alternate quantity box of the G/L master record, the link between the regular COA and the US COA appears.

24.What configurations are required for Bank Statement Processing in P_S4FIN_2020?

These are the needed configurations for your system, as described below:

• Start Variant
• Search ID
• Processing Type
• Internal Bank Determination

25. What are the validations and substitutions? Is there a precedent?

Validations are used to examine settings and produce a message if the condition that the precondition examines is met Substitutions are similar to validations in that they exchange and fill in field values behind the scenes without the customer’s knowledge, but validations provide on-screen messages.

26. What is the transaction manager’s role?

The Transaction Manager is in charge of coordinating database transactions and keeping track of both open and closed transactions. The Transaction Manager notifies the concerned storage engines when a transaction is committed or rolled back. As a result, they are able to carry out the essential actions.

27. What is P_S4FIN_2020’s relationship to SAP Hana’s simple finance?

The SAP Simple Finance solution was the first step in the customer’s SAP S/4HANA journey. The asset of instant vision in Finance and simplification, such as no indexes, redundancies, or aggregates, has been validated by the solution. SAP HANA On-Premise edition has an impact on the entire scope of SAP Simple Finance’s SAP Accounting powered by SAP HANA. In addition, the S/4HANA cloud edition is designed to give a similar breadth.

28. Which P_S4FIN_2020 edition do you recommend for our organizations?

The SAP HANA On-Premise Edition is designed for enterprises of all sizes that demand a broad and deep level of functionality combined with a wide variety of customising options. The P_S4FIN_2020 cloud version is tailored to enterprises that want standardised cloud submissions that primarily handle a company’s core business scenarios or a specific business set-up of business lines in industries with a rapid innovation cycle. Furthermore, this edition allows clients to establish a real-world hybrid arrangement, combining On-Premise and Cloud solutions for exceptional IT flexibility and boosted business innovation.

29. How can an SAP partner assist with a customer’s migration to P_S4FIN_2020 SAP Certified Application Professional?

SAP has a well-known ecosystem of partners (which covers systems integrator and value-added retailers). This ecosystem is prepared to support and resell SAP Simple Finance to existing and new clients in order to build future inventions. Surprisingly, Partners handled more than half of SAP’s Business Suite, which is powered by HANA. SAP and partners will assist customers on their digital transformation journeys with migration, cloud system migration, and deployment suites for quick time to value. The ultimate quality service and reseller capabilities that partners offer will benefit every organization, regardless of size.

30. What happens when a sql statement is executed in P_S4FIN_2020?

Each SQL query statement in the HANA database is run with the transaction reference. A fresh session is assigned to each new transaction.