Asset Accounting Interview Questions
[Link] is chart of depreciation in SAP?
A chart of depreciation in SAP is a list of depreciation areas that
manages the legal requirements for valuing and depreciating
assets. It's usually country-specific and is used to manage the
rules for valuing assets in a particular country. Each Company
code is allocated to one chart of depreciation.
[Link] do you mean by Depreciation Area?
A depreciation area is a segment of an accounting system that
tracks the depreciation of assets. It's used to calculate the value
of fixed assets for different purposes, such as cost accounting, tax
purposes, and balance sheets.
[Link] is Account Determination?
Account determination is a process that automatically identifies
the relevant general ledger accounts for a transaction. It's used in
SAP to determine financial accounts for asset transactions, goods
movements, and revenue postings.
[Link] is screen Layout?
In SAP, the screen layout for asset accounting controls the fields
in the asset master record. It determines whether fields are
required, optional, or hidden.
5. What is Asset Class?
The Asset class is the main criteria for classifying assets. Every
asset must be assigned to any one class. The asset class
is nothing but a group of assets. For example, of Asset classes are
Plant&Machinery, furniture&Fixtures, Computer etc.…
[Link] is Depreciation key?
A depreciation key is a set of calculation rules that determine how
to calculate depreciation for an asset. It's assigned to each asset
in its basic data.
[Link] is an asset master? What does it control for sub
asset master?
An "asset master" is a central record containing all essential
details about a fixed asset, like a piece of machinery, within an
organization, including its description, cost, location, depreciation
schedule, and other relevant information; a "sub-asset master"
is a record for a component part of that main asset, allowing for
individual tracking and management of its value and depreciation,
while still being linked to the parent "asset master" for overall
asset reporting.
[Link] many depreciation areas can be defined for a
company code?
According to SAP documentation, a company code can have up to
99 depreciation areas defined within its chart of
depreciation; meaning you can create and manage asset values
across 99 different depreciation areas for a single company code.
[Link] are the types of depreciation methods?
. Decline value method
. Maximum method
. Multi-level method
. Period control method
10. is it possible to create an asset class automatically in SAP?
Yes, there are two ways
[Link] an asset class with reference to an existing asset class.
[Link] an asset class through the asset class transaction
code-ANKL.
11. how many ways can you create the asset master record in
SAP?
. With reference to an asset
. Using the number functionality for similar assets.
. Through an asset class-AS01
[Link] is the difference between COA and COD?
The chart of Accounts is the index of GL accounts. The Chart of
Account can be global, country specific or industry specific based
on the need of business. The COD is the index of depreciation
areas. The COD is only country specific.
13. What is the segment in asset master?
Master data segment and Depreciation segment
