SAP FICO Overview
What is SAP FICO?
SAP FICO stands for Financial Accounting (FI) and Controlling (CO). It is one of the core modules of SAP ERP (Enterprise Resource Planning) and helps organizations manage their financial accounting and controlling activities.
Key Features of SAP FICO:
- Financial Accounting (FI):
- General Ledger: Record all financial transactions of the company.
- Accounts Payable: Manage vendor transactions and payments.
- Accounts Receivable: Handle customer transactions and receipts.
- Asset Accounting: Manage fixed assets and depreciation calculations.
- Bank Accounting: Process bank transactions such as payments and reconciliation.
- Controlling (CO):
- Cost Element Accounting: Track costs and revenues at a detailed level.
- Cost Center Accounting: Monitor costs incurred within different cost centers.
- Profit Center Accounting: Analyze profitability of segments within the organization.
- Internal Orders: Monitor costs for short-term projects or activities.
- Product Costing: Calculate and analyze costs for manufactured goods and services.
- Integration:
- Integration with Other SAP Modules: Seamless integration with modules like Sales and Distribution (SD), Material Management (MM), and Production Planning (PP).
- Financial Reporting: Generate financial statements and reports based on real-time data.
- Compliance and Controls:
- Ensure compliance with financial regulations and standards.
- Implement internal controls to prevent fraud and ensure data integrity.
- Analytics and Reporting:
- Utilize reporting tools for financial analysis, budgeting, and forecasting.
- Perform variance analysis to compare actual vs. planned figures.
Benefits of SAP FICO:
- Integrated Financial Management: Streamline financial processes and improve efficiency.
- Real-time Reporting: Access to real-time financial data for informed decision-making.
- Cost Control: Monitor and manage costs effectively across different business functions.
- Audit and Compliance: Ensure adherence to financial regulations and internal controls.
SAP FICO Training Objectives:
- Introduction to SAP FICO: Overview of SAP ERP and the role of SAP FICO in financial management.
- Financial Accounting: Learn how to manage financial transactions, ledgers, and reporting using SAP FI.
- Controlling: Understand cost accounting principles and methods in SAP CO.
- Integration: Explore how SAP FICO integrates with other SAP modules.
- Reporting and Analytics: Utilize reporting tools and techniques for financial analysis and decision support.
Who Should Take This Course?
- Finance and Accounting Professionals: Individuals involved in financial accounting, reporting, and analysis.
- SAP Consultants: Those looking to specialize in SAP FICO implementation and support.
- Business Analysts: Professionals interested in understanding financial data and its impact on business decisions.
Conclusion
SAP FICO is crucial for organizations to maintain financial transparency, control costs, and comply with regulatory requirements. Mastering SAP FICO can enhance career prospects in finance and accounting roles, enabling professionals to contribute effectively to organizational success.
Curriculum
- 7 Sections
- 85 Lessons
- 12 Weeks
Expand all sectionsCollapse all sections
- CONTROLLING7
- Cost Element Accounting15
- 2.0Primary Cost and secondary Cost ElementS
- 2.1Cost Element categories
- 2.2Cost Element groups
- 2.3Cost Element report Groups Cost Center Hierarchy
- 2.4Cost Center Group
- 2.5Cost Center Categories
- 2.6Cost Center Mater
- 2.7Activity Type
- 2.8Statistical Key Figures
- 2.9Reposting, Distribution and Assessment
- 2.10Activity type categories
- 2.11Planning and Budgeting of Cost Elements
- 2.12Define Planner Profile, Versions for Planner Profile
- 2.13Planning VS BudgetTng of Cost centers
- 2.14Cost Center Report
- Internal Orders• • • • • • •8
- 3.0Order Management in Controlling Area
- 3.1Define and Assign number ranges to Order Groups
- 3.2Typesf orders
- 3.3Model Orders
- 3.4AuC (Assets) process with Internal Order (Real)
- 3.5Investment Management Integration with Internal Orders
- 3.6Month end and final Settlements of Internal Orders
- 3.7Information System( Reports) for Internal Order
- Profit Center Accounting10
- 4.0Maintain profit Center and Activation of Company Codes in profit center
- 4.1Control Parameters for Actual data
- 4.2Plan versions
- 4.3Profit Center Standard Hierarchy
- 4.4Profit Center Groups
- 4.5Transfer pricing Process with profit Center
- 4.6Maintain planner profiles
- 4.7Distribution& Assessment
- 4.8Automatic Account Assignment forRevenue Elements
- 4.9Reports in Profit Center Accounting.
- Product Costing and Material Ledger26
- 5.0Configuration of product costing
- 5.1Maintain overhead cost elementS
- 5.2Maintain overhead keys
- 5.3Define cost component structure
- 5.4Maintain Overhead cost Elements
- 5.5Define Costing Sheets
- 5.6Define Overhead Keys and Groups
- 5.7Define Cost Component Structure
- 5.8Variance Calculation
- 5.9Work in Progress
- 5.10Settlement
- 5.11Variance Calculation
- 5.12Work In Progress
- 5.13SettTement
- 5.14Product Cost by SaTes
- 5.15Result Analysis
- 5.16Settlement
- 5.17Product Costing by Planning
- 5.18Product Costing by Order
- 5.19Product Costing by Period
- 5.20Product Costing by Sales Order with MM,SD,PP and COPA Integration
- 5.21Define and Activate Material Ledger
- 5.22Assign Currency types to Material Ledger
- 5.23Dynamic Price Change in ML
- 5.24Other Aspects of ML
- 5.25Material Costing
- COPA - Profitability Analysis9
- 6.1Define Operating Concern
- 6.2Define Characteristics and Value fields
- 6.3Define Profitability Segment Characteristics
- 6.4Define Characteristic Hierarchy and Derivation
- 6.5Maintenance and Assignment of Value fields
- 6.6Transfer of Billing Documents to COPA
- 6.7Automatic Account Assignment
- 6.8Maintain PA Transfer structure for Direct FI Postings
- 6.9Information System in COPA
- Profit Center Accounting10
- 7.0Maintain Profit Center and Activation of Company Codes in profit center
- 7.1Control Parameters forActual data
- 7.2Plan versions
- 7.3Profit Center Standard Hierarchy
- 7.4Profit Center Groups
- 7.5Transfer pricing Process with profit Center
- 7.6Maintain planner profiles
- 7.7Distribution and Assessment
- 7.8Automatic Account AssTgnment forRevenue Elements
- 7.9Reports in Profit Center Accounting.
Requirements
- Basic understanding of SAP S/4HANA navigation.
- Familiarity with accounting and controlling concepts.
- Prior knowledge of financial accounting is helpful, but not mandatory.
- A system with internet access to explore the platform.
Features
- Cost Tracking and Analysis: Track and manage costs across various departments.
- Internal Reporting: Generate detailed internal reports to support business decision-making.
- Integration with other SAP modules: Seamless integration with financial accounting (FI) and other SAP modules for comprehensive control.
- Cost Center and Profit Center Accounting: Manage and optimize cost and profit centers within the organization.
- Budgeting and Forecasting: Use planning tools for efficient financial forecasting and budget management.
Target audiences
- Professionals in accounting, controlling, or finance roles.
- SAP consultants aiming to specialize in SAP CO (Controlling).
- Individuals interested in learning how to manage costs and internal reporting in SAP.
- Anyone working with or planning to implement SAP S/4HANA in their organization.