In the present scenario of technologies, SAP is a software application that is in high demand and provided by many enterprises and IT solutions, for the enhanced implementation of ERP (Enterprise resource planning). For developing management in the field of IT and business, SAP has been continuously providing amazing ways, from the beginning. One must know in-depth about SAP FICO if the respective individual wants to make their career in this field. In SAP, a total of 28 modules are present among which only a few are considered mainstream. If you are from Hyderabad then you can easily get sap fico training in Hyderabad. There are a lot of sap fico training institutes that provide training and certification.
Finance and controlling also known as FICO is one of the mainstream modules of SAP. This module is so useful that it has become a need to fulfill all the financial management requirements of organizations. The combination of two modules that are SAP Finance and SAP Controlling is called SAP FICO. This involves user management and configuration.
If you want to make a career as an SAP FICO consultant, you must get a certificate in the SAP FICO module. Getting a certificate will not only make you eligible to work as an SAP FICO consultant, but along with this, you can also perform various other roles such as account and Finance executive, senior analyst programmer, and many more. You can enroll yourself in the best sap fico training institute.
One must know the basics of the two essential modules to understand the roles and responsibilities of an SAP FICO consultant. Let us discuss them briefly.
SAP FI Module: The development of the financial management ideas in the business is linked with the SAP Financial accounting module. Every organization needs a system to manage their finance with flawless management ability. However, in the current scenario, it is a difficult task to manage complete financial accounting and management manually. Thus, in most organizations, the SAP FI module has appeared. It became a popular module that carries out the financial and accounting processes smoothly. Together with the complete set of SAP FICO modules, it becomes easy for the organization to manage the financial requirements and accounting smoothly.
SAP FI modules comprise of the following components:
- Account Receivable
- General Ledgers
- Asset Accounting Account Consolidation
- Accounts Payable.
SAP CO Module: Another module of SAP FICO is SAP Controlling, i.e. SAP CO. Every enterprise can maintain, justify, supervise, and plan various processes with the help of this module. Since this module helps to view and manage the associated costs, the controlling module is directly connected with the financial accounting module. SAP CO comprises many other elements apart from just controlling like user and involves master data, reporting, and configuration.
Masters data includes:
- Cost elements
- Cost centers
- Profit centers
- Internal orders
- Functional area
- Statistical vital figures
- Activity types
Any organization can quickly view the financial reporting and manage records with the help of this module. Also, this module can help organizations to make essential business decisions. According to the requirement of the business and the demand, an organization can easily manage the reporting and information database using the SAP FICO module.
If you want to get trained in SAP FICO then you must choose IgrowtSoft as this is the best institute for sap fico training in Hyderabad.
