One of the most powerful Enterprise Resource Planning (ERP) systems is SAP ERP. SAP stands for System, Applications, and Products in data processing and was created in Germany by SAP AG. SAP AG was formed in 1972 and debuted the SAP R/3 system, a three-tier client/server technology, in 1992. SAP offers the most effective solutions for a wide range of industries and service sectors. SAP FICO certification has been advancing management in a variety of ways across the business and IT domains. It comes with a number of integrated modules that cover practically every aspect of business management. SAP Sales and Distribution, SAP Material Management, SAP Production Planning, Quality Control, SAP FICO, and other SAP modules are available. The purpose of this article is to explain SAP FICO and its many sub-modules.
SAP FICO is one of the most important functional modules in SAP ERP components, since it aids in the management of all financial data. SAP FICO’s main goal is to help the company produce and manage all financial statements for analysis and reporting, as well as to aid in effective business planning and decision making. SAP FICO is made up of two modules: SAP Finance (FI) and SAP Controlling (CO), each of which is used to carry out different financial procedures. SAP FI focuses on comprehensive financial reporting and accounting, whereas SAP CO focuses on cost planning and management. SAP FI and SAP CO were originally published as separate modules, but they are now so closely connected that much of the functionality is shared.
SAP FI module: SAP FI stands for Financial Accounting, and it is one of the essential modules of SAP ERP. It is used to store the financial data of an organization. SAP FI helps to analyze the financial conditions of a company in the market. It can integrate with other SAP modules like SAP SD, SAP PP, SAP MM, SAP SCM, etc.
SAP FI includes the following sub-components:
- Finance Accounting General Ledger.
- Finance Accounting Accounts Receivable and Payable.
- Finance Accounting Asset Accounting.
- Finance Accounting Bank Accounting.
- Finance Accounting Travel Management.
- Finance Accounting Fund Management.
- Finance Accounting Legal Consolidation
SAP FI module mainly deals with the following financial components:
- Fixed asset
- Accrual
- Cash journal
- Accounts receivable and payable
- Inventory
- Tax accounting
- General ledger
- Fast close functions
- Financial statements
- Parallel valuations
- Master data governance
Another essential SAP module given by a firm is SAP Controlling (CO). It aids in the coordination, monitoring, and optimization of all business processes. SAP CO encompasses cost and profit centres, internal orders, and other cost elements and functional areas, as well as managing and setting master data.
SAP CO: This module assists organizations in supervising, rationalizing, and planning business operations. The CO module is directly related to financial accounting; it can be utilized as a single view that organizes all of the associated costs. It’s also used to maintain and configure master data, which tracks information on cost centers, internal orders, profit centers, cost factors, and other things. Organizing, chasing, executing, and reporting are all steps in the process that are managed step by step. We can track cost heads with the help of this module and plan accordingly. SAP CO module improves costing across processes based on activities. It keeps track of product changes, costs, and costs. It also includes elements such as profitability analysis, internal order accounting, cost center accounting, and overhead management, among others.
SAP FICO certification Online
eLearning Solutions is one of the leading SAP FICO training institutions in Pune, offering 100% placement assistance. Students at eLearning Solutions, Pune can choose from a variety of course modules and training sessions. SAP FICO training is offered at eLearning Solutions in the following formats: daytime classes, weekend classes, evening batch classes, and fast track training classes. The course training consists of “Learning by Doing” employing cutting-edge infrastructure to conduct hands-on activities and real-world simulations. This intensive hands-on SAP FICO training ensures that all participants gain the necessary knowledge and skills to apply at their workplace after being employed in an MNC. The Classroom and Online Training Course batches are available in two options. The first where training is conducted from Monday to Friday, and then you have the weekend batches – Saturday and Sunday.
How to get SAP FICO certification
SAP FICO course in Pune is designed for beginners as well as intermediate learners or professionals. The syllabus of the course is smartly crafted by the SAP FICO experts to meet the industrial requirements. eLearning solutions are well equipped with lab and study material. The training is provided on the real-time data so that the student would get an exact scenario of how to execute and accomplished tasks. Tutors at the training possess more than 5 years of industrial experience. So, they give job-oriented training. Hence, the students from this institute are able to show knowledge and confidence during the interview processes.
How much sap certification cost in India fico module
The SAP FI/CO course begins with a business analysis by defining business environment, procedures and planning methodologies. Then financial accounting, asset accounting is understood and latter comes is cost object controlling.
The certification course duration varies from institute to institutes from 2months to 6 months with a fee of Rs 25,000/- and above.
How do I become a SAP FICO consultant?
SAP’s most essential module is the FICO module. To become an SAP FICO consultant, you must devote a significant amount of time and effort to studying the process and configuration processes.
You should not expect a high pay in the early stages of your profession. You should focus on learning each aspect of the SAP FICO module for the first few years. After a few years as a SAP FICO consultant, you may be able to move on to another organisation and earn a higher pay.
This post will serve as a guide for you if you decide to work as a SAP FICO consultant.
After graduating from SAP FICO courses students get jobs like Project Leader, Module Lead, Process Developer, SAP Functional Consultant, etc. They can expect their salary between INR 2 – 8 LPA.
eLearning Solutions provide sap fico training.
Elearning solutions is the best SAP FICO training institute in Pune. SAP FICO is the Finance and Cost controlling module is one of the most important and widely used SAP ERP modules among organizations. As it is very robust and encounter almost all the business processes. In SAP FICO, FI stands for Financial Accounting and CO stands for Controlling.
