What is SAP FICO: SAP FICO stands for Financial Accounting (FI) and Control (CO) and is one of the core modules in the SAP suite which covers the financial and management accounting aspects of a business. It’s specially designed to include all aspects of an accounting and administration lifecycle and comes with the advantage of easy customization, reporting, integration with other core modules and much needed reliability.
Demand for FICO Professionals: SAP FICO professionals are in very high demand as enterprises world over are actively moving to implementing SAP solutions to better manage and optimize their business process. FICO consultants can either be a Technical Consultant (For actual solution implementation) or a Functional Consultant (For mapping the business requirements to a SAP environment). Our online training course in SAP FICO extensively covers all the fundamentals of FI and CO, with an emphasis on common accounting terms and their implementation in SAP, exposure to real-time implementation scenarios and live projects. This gives our users the much needed advantage of excellent domain knowledge with a practical understanding. SAP FICO has a higher market then other core modules as Financials and Accounting are an integral part of every business enterprise. Get set for a dream career as a SAP consultant by choosing our online courses.
The SAP FICO course contents:
FICO has two components-FI and CO. The course begins with an introduction to the SAP environment along with its architecture.
FI Component: The FI module has sub-modules for Assets, Accounts payables and receivables, bank and ledger accounting and fund management. It deals with all financial transactions and the core data flow into the system. On a broader note, the FI module deals with the external aspects of the financials of an enterprise.
CO Component: The CO module deals with the way the data, analytics and reports from the FI module are used in a business perspective to help them take better decisions and optimize costs. It’s used for an internal management or control over the financial aspects of a business. This module deals with cost and profit centres, cost element accounting, internal orders, profitability analysis, managerial accounting, valuations etc.