SAP Finance and Controlling (FICO) (beginner to expert) (Udemy.com)

A warm welcome to the SAP FICO course by Uplatz.

SAP FICO (Finance and Controlling) module by SAP monitors company financials (SAP FI) and delivers cost accounting (SAP CO). SAP FI is used to store the financial data of an organization and also helps to analyze the financial conditions of a company in the market whereas SAP CO supports coordination, monitoring, and optimization of all the process in the organization.

SAP FICO module is very robust and covers almost all business process encountered in various industries. It is one of the very important and widely implemented modules in SAP. It is one of important modules of SAP ERP and is used to store the financial data of an organization. SAP FI helps to analyze the financial conditions of a company in the market. It can integrate with other SAP modules like SAP SD, SAP PP, SAP MM, SAP SCM, etc.

SAP FI comprises of the following sub-components −

• Finance Accounting General Ledger.

• Finance Accounting Accounts Receivable and Payable.

• Finance Accounting Asset Accounting.

• Finance Accounting Bank Accounting.

• Finance Accounting Travel Management.

• Finance Accounting Fund Management.

• Finance Accounting Legal Consolidation

SAP FI module enables you to manage financial accounting data within an international framework of multiple companies, currencies, and languages. SAP FI module mainly deals with the following financial components −

• Fixed asset

• Accrual

• Cash journal

• Accounts receivable and payable

• Inventory

• Tax accounting

• General ledger

• Fast close functions

• Financial statements

• Parallel valuations

• Master data governance

SAP FI consultants are mainly responsible for implementing Financial Accounting and Cost Accounting with SAP ERP Financials.

SAP Controlling (CO) is another important SAP module offered to an organization. It supports coordination, monitoring, and optimization of all the processes in an organization. SAP CO involves recording both the consumption of production factors and the services provided by an organization.

SAP CO includes managing and configuring master data that covers cost and profit centers, internal orders, and other cost elements and functional areas. The main purpose of SAP controlling module is planning. It enables you to determine variances by comparing actual data with plan data and thus enables you to control business flows in your organization.

Both SAP CO and SAP FI modules are independent components in a SAP system. The data flow between these components takes place on a regular basis. Data flows relevant to cost flows to Controlling from Financial Accounting. At the same time, the system assigns the costs and revenues to different CO account assignment objects, such as cost centers, business processes, projects or orders.

SAP FICO entails numerous advantages and benefits as well. No wonder many individuals are pursuing career under this category. This helps in integrating different modules dealing with finance and controlling. These modules also cover external and internal accounting. The FICO’s functional components for finance include ledger, fixed assets, account payables and receivables. For controlling, the functional components are internal orders, cost and profit center accounting, profitability analysis.

The financial accounting in SAP features an imperative primary module wherein real-time financial transactions and processing will be captured providing a basis via data that can also be drawn for the purpose of external reporting. The SAP software financial modules also help companies and businesses unite parallel modules that might be in need for the utilization of software packages. SAP FI (Finance) has the capacity of meeting the accounting and financial need of organizations.

Controlling in SAP also pertains to managerial accounting. The CO (Controlling) organizational elements that are facilitated by SAP modules benefit managers by providing them with reports on profitability, cost centers and more.

SAP FICO module is firmly integrated with other ERP modules such as Sales and Distribution (SD), Materials Management (MM), Human Capital Management (HCM), etc.

Uplatz provides this in-depth training on SAP FICO module covering each topic in great depth and supported by practical and hands-on scenarios demonstrated on SAP FICO system.

SAP FICO, course covers the necessary certification topics for SAP FICO. It includes SAP FICO Business Processes, General Ledger, Accounts Payable, Accounts Receivable, Asset Accounting, New General Ledger and Controlling. As part of the curriculum, you will also be introduced to the configuration which covers FICO Organisational data, Master Data, processing Transaction data, Integration and Financial Reporting.

Financial management requirements are constantly changing, and it’s more important than ever to keep your skills current. This SAP Financial Accounting (FI) and SAP Controlling (CO) process and consultant training delivers the understanding and expertise professionals need for better management of finance accounting and reporting in enterprise.

This SAP FICO training program focuses on core accounting and reporting concepts like financial controlling – credit control, maintain fiscal year variant and tax code, assign the company code to a chart of accounts etc. SAP FICO Course will prepare the students to learn and understand all the end-to-end implementation steps to configure SAP FI and CO modules for any organization.

The SAP FICO course also highlights the necessary documentation and methodology which are used in SAP FICO implementation projects. After this course, the students will be able to identify and analyse the business requirements of any organization for Record to Report process cycle and to configure SAP FICO modules accordingly.

The syllabus on SAP FICO course is focused on topics that students and other interested individuals should concentrate on. Sufficient knowledge on all the aspects of SAP FICO can help individuals boost their career and improve their business. There are plenty of reasons why enterprise software are becoming widespread and popular. Organizations and businesses have to deal with many complexities and challenges along the way. Learning SAP FICO can be an excellent means to keep an eye to the present and future financial aspects of business.

This SAP FICO training will prepare you for the SAP job market as well as equip you with all the necessary knowledge that is needed for you to pass the SAP FI/CO certification Examination.

Course Objectives