Frequently Asked SAP Simple Finance Interview Questions | SAP Simple Finance Online Training
- What is SAP Simple Finance?
SAP Simple Finance is a primarily based on SAP HANA, which can be deployed in the cloud or on-premise. Designed to be convenient to use, it can deliver immediate insight for finance professionals. It improves the current finance solution portfolio from SAP, its purposeful strength remains the same while enabling non-disruptive migration.
- Explain the role of the Transaction Manager?
The Transaction Manager is responsible for coordinating the transactions in databases and maintains a record of running as well as closed transactions. When the transaction committed or rolled back, the Transaction Manager informs the concerned storage engines regarding the event. Hence, they can run the required actions.
- State the ways of Migration from SAP to Simple Finance?
Here are some of the ways that state how the companies can migrate from SAP conventional FICO module to Simple Finance (that is SFINE 2.0).
Those who are on New GL are capable of migrating directly to Simple Finance.
Those who are on typical GL need to migrate to New GL first and then migrate to Simple Finance.
This kind of migration occurs only with SPRO and doesn’t require technical assistance. This migration is different from the central component of Finance that supports with moving data distributed Enterprise Resource Planning landscape and non–SAP Enterprise Resource Planning, utilizing SLT.
- Explain what is meant by Reverse Logistics?
Reverse Logistics is the collection of all processes that come into play for goods that move in the reverse directions which means transportation of goods customer to the business.
- State the ways of migration from SAP To Simple Finance?
Here are some of the ways that kingdom how the corporations can migrate from SAP traditional FICO module to Simple Finance (that is SFINE 2.0). The ones who are New GL are capable of migrating directly to Simple Finance. Those who are on usual GL want to migrate to New GL first and then migrate to Simple Finance. This sort of migration takes place only with SPRO and doesn’t require technical assistance. There is a distinction when migration is from the central factor of Finance that supports with shifting information dispensed Enterprise Resource Planning panorama and non–SAP Enterprise Resource Planning, utilizing SLT.
- What is working capital?
By definition, working capital is current assets minus current liabilities. The working capital figure shows a financial manager how much of an organization’s cash is tied up in items such as accounts receivables and inventory. It also indicates how much cash is going to be required to pay off short-term debt and obligations over the next year.
- What are the various compression techniques available?
There are three compression techniques and they are as follows:
- Cluster encoding
- Run-length encoding
- Dictionary encoding
8. What are the Various Components of SAP HANA?
- SAP HANA DB
- SAP HANA Appliance
- SAP HANA Studio
- SAP HANA Application cloud
- If it were up to you, what would the budgeting process look like?
This is somewhat subjective. In my opinion, a good budget is one that has buy-in from all departments in the company, is realistic yet strives for achievement, has been risk-adjusted to allow for a margin of error, and is tied to the company’s overall strategic plan. In order to achieve this, the budget needs to be an iterative process that includes all departments. It can be zero-based (starting from scratch each time) or building off the previous year, but it depends what type of business you’re running as to which is better. It’s important to have a good budgeting/planning calendar that everyone can follow. This is an important part of how to be a world-class financial analyst.
- Explain groupings and levels.
Groupings determine how to summarize the data, with quite a number of groups and degrees defined. A Group adds up a variety of financial institution debts and includes a variety of levels. A Level, thus, denotes the sources of data or account transactions. Below the degrees are the line items, which are displayed the usage of a listing display