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what is asset accounting?
 Question Submitted By :: FI-CO
I also faced this Question!!     Answer Posted By  
# 1
Asset is which deals with standard Fixed Assets and gives
report on fixed assets generated by system.From
capitalization date, we must start calculating depreciation.

It is a subsidiary ledger. We use the term, Chart of
Depreciation. Depreciation areas are of 3 types 1. Book
depreciation ( according to Company Law) , 2 tax
Depreciation & 3. Cost based Depreciation. Depreciation
rates vary from shift to Shift 24 Hours 3 shifts or 8
hours one shift.

Depreciation Methods are of 2 types .
1. Straight Line method
2. Decline Balance method

Rules for Asset Accounting

1. Sub Asset master is to be created with reference to main
Asset Master
2. Main Asset is to be created with reference to Asset class
3. In Asset class, we assign Account Determination
4. For Account Determination, we assign the account, based
upon the transactions like purchase, sale, scrap, loss,
profit, depreciation ans accumulated depreciation.
Is This Answer Correct ?    15 Yes 2 No
# 2
The Asset Accounting (FI-AA) component is used for managing
and supervising fixed assets with the SAP R/3 System. In
SAP R/3 Financial Accounting, it serves as a subsidiary
ledger to the FI General Ledger, providing detailed
information on transactions involving fixed assets.
Is This Answer Correct ?    9 Yes 2 No
# 3
What is asset accounting with reference to SAP alone needs
to be explained. What is given is, besides general
explanation, some components of assets accounting wrt SAP
is given.For example, FI Company code is independent and
needs to be correlated to FI-AA module. It is unque.Unless
the Chart of depreciation is assigned to our Company
code,it is not automatically posted to our company.Assets
accounting has , thus same general features but in
different module as FI-AA.Unique.
Is This Answer Correct ?    0 Yes 0 No

Other FI CO Interview Questions
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I have maintained several in the system but when I want to select one of them so that it gets deducted from the entry in F-02. How can it be deducted as I am not getting any option to select one of the W.Tax that have been configured?   2
How do you control field status of GL master records and from where do you control. HLL 5
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Hello ALL My user posting the frieght clearing he is getting error on Bill Accounting issue frieght clearing provision account is not getting cleared at the time of accounting He has done sucessfully GRN but in account frieght clearing in not appering can any body give me suggestion on same Regards vamsi Alstom 2
Go Live and Cutover plan?   7
how to view trial balance how to prepare balance sheet how to carry forward balceces of G/L ACCOUNTS, VENDORS, CUSTOMERS AND FIXED ASSETS PLEASE VERIFY ALL THIS QUESTIONS I CANT UNDERSTAND HOW TO DO. Hindustan-Unilever-Limited 3
what is the difference between leading and non leading ledger. IBM 2
Who will be done the BDC(Batch Data Communication) process.. Is it consultant or technical people(ABAP PEOPLE) Cambridge 2
On which server you receive the tickets . After solving the tickets what you do.How it is send to the client. Do you do any quality check as such? HP 1
in SAP, i want to know how we can split an incoming payment from a customer. if the payment is lets say 500rs.i want to allocate a 10% to my own company and distribute the 90% to the cash account(G/L) of a partner (forwhom we are collecting payments). is it possible in ECC6.0? Need help PiTech 1
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