SAP FICO is a robust Finance and Cost controlling module that focuses on almost all business processes encountered in various industries. It is one of the most important and widely used SAP ERP modules. SAP FICO online training acquaints participants with the current industry standards and secures their place in top MNCs. SAP FICO certification is an internationally-recognized SAP credential that helps SAP consultants to demonstrate their SAP skills to employers and seize great opportunities.
What is Financial Accounting and Controlling?
FICO (Financial Accounting and Controlling) module is used by enterprises, small or big, to centrally track their financial accounting data, and conduct all the financial transactions, accounting and reporting activities in the smoothest manner. It helps users to reach their organizational goals by enabling them to work efficiently with highly accurate data and fast processes.
By using SAP FICO, users can easily gather data, analyze, create financial statements, reports and generate charts that can be showed to the management with greater accuracy and relevance, thus carrying out all the accounting and controlling responsibilities in a timely manner.
What are the subcomponents of SAP FI module?
- General Ledger Accounting (G/L)
- Accounts Receivable (AR)
- Accounts Payable (AP)
- Fixed Asset Accounting (AA)
- Bank Accounting
- Special Purpose Ledger
- Travel Management
What are the subcomponents of SAP CO module?
- Cost Element Accounting
- Cost Controlling
- Cost Center Accounting
- Internal Orders
- Activity-Based Costing
- Product Cost Controlling
- Profitability Analysis
- Profit Center Accounting
- Overhead Management
How does SAP FICO impact the growth of the business?
- SAP FICO easily integrates with other SAP modules like sales and distribution, and materials management.
- It covers almost every aspect of business process.
- It facilitates smoother accounting processes.
- It makes it easier to manage business flow.
For professionals, SAP FICO is one of the highest paying modules. With IT and non-IT companies, like 3M, Accenture, Audi, BMW, Deloitte, and Ernst & Young, using SAP solutions, there is an increase in the demand for skilled and certified SAP FICO consultants. Aspiring individuals can go through the SAP FICO Online Training and Certification and master SAP skills that are required to make it big as an SAP consultant. FICO consultants are responsible for system configuration and implementation based on business needs, refining methods, and eyeing for new projects. Thus, it is highly recommended to own fundamental knowledge of financial concepts and has good hands-on experience to be successful as a consultant. Multisoft Virtual Academy provides participants with Online SAP FICO training program, which is a golden opportunity for them to gain expertise in implementing real-time SAP FICO projects and add value to their resume.