SAP FICO Let’s Get Started!
SAP FICO: A brief Introduction FI and CO are the two different, however closely integrated SAP modules that aid organizations in decision making by generating financial statements. The FI module is responsible for generating financial statement by maintaining financial transactions of the organization while the CO module provides operational information to the management for decision making.
Benefits of SAP FICO training The SAP FICO training is very helpful for the aspirants as it builds proficiency in gathering, allocating, and analyzing costs in order to calculate profits earned. The training provides you with a better understanding of the SAP FICO module right from the ground level and make sure that you learn the complete working of the financial system. The training can help candidate to fulfill the various responsibilities in an organization.
The candidate will also get the following benefits: Understand how SAP financial accounting works Learn about important financial accounting terms Learn About Sub-Ledgers, Accounts Receivable and Payable, Asset Accounting Enable smooth financial accounting and controlling functions Know how the finance module integrates with other SAP modules
Responsibilities of an SAP FICO professional The following are the responsibilities of an SAP FICO professional in his/her organization: • Prepare different types of accounting documents and financial statements • Balance sheet accounts reviews and reconciliations • Purchase price valuation (PPV) analysis • Supply Chain Management (SCM) reporting • Manage account payables and accounts receivables • Manage cash-flow, credit management and finance • Preparation of Federal/State Income tax return statements
Components of SAP FI and CO modules: The different components of the SAP FICO module are: Components of FI General Ledger Accounting Fixed Asset Accounting Accounts Receivable and Accounts Payable
Components of CO Cost Element Accounting Cost Center Accounting Profit Center Accounting Cost Controlling Product Cost Controlling Internal Orders Activity Based Costing Profitability Analysis
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