FICO

FICO, also called Finance and Controlling, helps integrate the accounting side of a business. All the financial sections like Accounts Receivable, Accounts Payable, General Ledger, Tax, etc are incorporated into SAP.

So as payments are made, products are sold, entries in the books are automatically updated in the system in real time. It makes month ends much easier in companies now with all the automation Controlling, on the other hand represents the flow of costs and revenues from the transactions that take place in the company.It helps to track internal costs within the company.

Thus, CO is a management tool which helps them analyze on how well the company is doing. The various segments include Cost accounting, Profitability, Product costing, etc.

Objectives:

• FI stands for Financial Accounting and CO stands for Controlling. 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
• SAP FI is made up of sub modules. The sub-modules that are often used are accounts receivables, accounts payables, asset accounting, general ledger Accounting and bank accounting.

What Are The Skills That You Will Be Learning With This Course?

• Preparation of financial statements
• Profit and loss (P&L) analysis
• Balance sheet accounts reviews and reconciliations
• General Ledger (GL) and Cost Center (CC) master data management
• Purchase price valuation (PPV) analysis
• Supply Chain Management (SCM) reporting
• Month-end closing processes
• Quarterly reporting
• Audits
• Support of Liaison
• Participation in annual budget preparation
• Understanding FICO modules to the extent that you are able to suggest process improvements
• Preparation of Federal/state Income tax return statements

Curriculum:

• Introduction to ERP
• Overview of ERP?
• Advantages of SAP over other ERP Packages?
• Why we need ERP?
• History& Features of SAP
• Advantage of  SAP over another ERP package
• Introduction to SAP & R/3 Architecture
• Induction to HANA System
• ECC to HANA changes.
• Induction to S/4 HANA and Simple Finance
• S/4 HANA Benefits.
• SAP- System-Landscape
• Induction of SAP Domains (Functional, Technical and Security)
• Overview of Remaining Modules (Fun: MM, SD, PP, HR, FM etc…,Tec: ABAP and Security: BASIS)
• Fundamentals of Business Accounts (All Debit and Credit accounting entries with Profit and Loss Statement and Balance Sheet Overview.
• Induction to SAP FI/CO
• Enterprise Structure
• Global Parameters
• Classic G/L& New G/L Concepts withPCA
• A/R & A/P,BANKING
• INTEGRATION
• FI-MM
• FI-SD
• ASSET ACCOUNTING
• CONTROLLING (CO)
• COST ELEMENT ACCOUNTING
• COST CENTER ACCOUNTING
• Internal Orders
• Product Costing & Material Ledger
• CO-PA
• Classic Profit Center Accounting
• Reports in Profit Center Accounting
• and more