ERP FICO (Finance & Controlling) Course

“FICO ERP Course, offered by Placement Point Solutions, stands as a foundation course for professionals aiming to excel in the finance and accounting sectors.

Diving into the FICO ERP Course, you’ll master the critical elements of the Financial Accounting (FI) and Controlling (CO) modules, equipping yourself to confidently handle business finance challenges.

Placement Point Solutions crafts its program with care, so you get the real-world skills to tackle financial roles like a pro in any ERP system. Kick-start your ascent in the finance world by enrolling in Placement Point Solutions’ FICO ERP course, crafted to arm you with the essential skills for financial prowess within an ERP framework.

Enrol now to embark on a journey of financial mastery with Placement Point Solutions’ FICO ERP course, a gateway to advanced career opportunities in finance and accounting.”

Financial Accounting and Controlling (FICO) is a crucial module within the ERP system that encompasses the financial accounting and controlling processes of an organization. ERP systems are designed to integrate various business functions and streamline operations by providing a centralized platform for data management. The FICO module specifically focuses on managing financial transactions, generating financial statements, and enabling effective cost control and planning.

The FICO module consists of two main components: Financial Accounting (FI) and Controlling (CO). The FI component is responsible for recording and maintaining financial transactions, such as accounts payable, accounts receivable, and general ledger accounting. On the other hand, the CO component enables businesses to plan, track, and monitor costs and performance through internal reporting and analysis.

Understanding the intricacies of FICO ERP is essential for professionals involved in financial management, accounting, and business analysis. It provides a comprehensive framework for managing financial processes and empowers organizations to make well-informed business decisions based on accurate financial data.

The FICO (Finance and Accounting) ERP course is a comprehensive training program designed to equip learners with a profound understanding of financial processes and controls within the ERP environment. This course focuses on two primary components: Financial Accounting (FI) and Controlling (CO).

Financial Accounting (FI): This module covers essential aspects of financial accounting, including general ledger accounting, accounts receivable, accounts payable, asset accounting, and bank accounting.

Learners gain insights into managing financial transactions, creating balance sheets, profit and loss statements, and ensuring compliance with international financial reporting standards.

Controlling (CO): The CO module emphasizes internal accounting, including cost types, centers, profit centers, internal orders, product costing, and profitability analysis. This part of the course helps learners understand how to effectively plan, report, and monitor costs associated with business operations.

Throughout the course, participants will engage in practical exercises, case studies, and real-world scenarios that enhance their ability to integrate these modules for improved financial management and decision-making within an organization.

The SAP FICO course is ideal for finance professionals, accountants, and anyone interested in mastering SAP’s financial systems, aiming to elevate their career in the realms of finance and accounting.

Tools Covered in FICO ERP:

• General Ledger (G/L) Accounting: Learners will become proficient in managing and recording all the primary business transactions and preparing financial statements.
• Accounts Payable (A/P): This tool focuses on managing and processing vendor transactions and invoices, ensuring accurate payments and maintaining vendor relationships.
• Accounts Receivable (A/R): This area covers the management of incoming payments, customer invoices, and maintaining customer financial records.
• Asset Accounting: Participants learn about managing and tracking company assets, depreciation calculations, and asset-related transactions.
• Bank Accounting: This module covers bank transactions and reconciliation processes, managing cash flow, and ensuring accurate bank-related financial records.
• Cost Element Accounting: In this area, learners explore the classification and recording of operational costs and expenses.
• Cost Center Accounting: Focuses on tracking the costs associated with individual departments or business units within an organization.
• Profit Center Accounting: This tool is essential for analyzing and reporting on profitability for different business segments or product lines.
• Internal Orders: Used for tracking costs for specific activities, projects, or tasks, providing detailed cost analysis and reporting.
• Product Costing: Participants will learn how to calculate the costs associated with manufacturing goods or providing services.

Profitability Analysis (CO-PA): This tool helps in assessing the profitability of different market segments, products, or customer groups.

Content:

• Introduction
• ERP Concepts
• Role of ERP Consultant
• Why ERP is in demand?
• Finance Overview:
• Transaction, Accounts and Accounting
•  General Settings
• Define Company, Company
• Code, Credit Control Area, Business Area, Chart of Accounts and Fiscal Year.
• Assign Company Code to Company, Chart of Accounts and Fiscal Year.
• Create Tax Procedure and Attach to the Country
•  Posting Period
• Define Posting Period
• Variant
• Assign Posting Period
• Variant to company code
• Define Open and Close
• Posting periods
•  Document
• Define Document Types
• Number Ranges
•  Account Group and Retained Earning Account
• Define Account Group and
• Retained Earnings Account
•  Field Status Variant
• Maintain Field Status Variant
• Assign Field Status Variant to Company Code
•  Tolerance Group Tolerance Group for GL Accounts
• Tolerance Group for Employees
• Assigning Users to Tolerance groups
•  Other Basic Steps
• Enable Fiscal Year Default
• Enable Default Value Date
• Check Company Code settings in Global parameters
•  Other topics in GL
• GL Master Creation
• Journal Entry Posting
• Blocking of an GL Account
• Unblocking of an GL Account
• Changing of GL Master
• Display Changes/What
• Changes/how it was done
• Parking of an account
• Releasing the parking document by changing the amount
• Releasing the parking
• document by deleting the document
• Difference between Park and Hold documents
• How to see an Account Balance
• and more