FI stands for Financial Accounting and CO stands for Controlling, is the core module where all the financial processing transactions are captured. Courses for sap FICO training this is the module that is used to create statutory Financials Statements for external reporting purposes.
Functions in SAP FI can primarily be divided into General Ledger Accounting (G/L), Accounts Receivable and Accounts Payable (AR/AP) processing, and Fixed Asset Accounting (AA).
Courses for SAP FICO training
It deals in managing financial transactions within enterprises. This financial accounting module helps employees to manage data involved in any financial and business transactions in a unified system. This module functions very well for reporting requirements. The SAP FI module is very flexible and is functions well in any type of economic situation. Be it a smaller organization or a larger organization, SAP implementation helps in consolidating data for diverse business transactions and legal requirements. Financial Accounting module helps one to get the real-time financial position of an enterprise in the market.
SAP Management Accounting (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 the 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.
SAP CO Integration with Financial Accounting.
Both SAP CO and SAP FI modules are independent components in an SAP system. Courses for sap FICO training 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.
Course Details for SAP FICO
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Syllabus for SAP FICO
Overview on SAP®
Introduction to FI/CO
Overview on Full Cycle
Overview on All Functional Modules
Entities in FI
GL Master Data
AR Transaction, AR Master Data, AR Batch Processing,
AP Master Data, AP Transactions, Asset Entities, Asset Master Data