SAP Finance & Controlling (SAP FICO) is a functional module of the SAP ERP. This module provides an organization with its complete financial data. It facilitates system administration and manages both external and internal financial reporting of a business. Below are some significant modules of SAP FICO.
- General ledger accounting- This is useful for preparing financial statements.
- Accounts receivables- It manages all the customer-related transactions.
- Accounts payables- It deals with vendor-related transactions.
- Asset accounting- It manages transactions related to assets.
- Bank accounting- It manages all the bank transactions.
Significant Features of SAP FICO
SAP FICO is one of the most significant modules in the SAP ERP and its combination of SAP FI and SAP CO. Using SAP FICO in an organization facilitates financial management and reporting. To further know about its features, one can visit the SAP FICO Course. Given below are some of these significant features of SAP FICO.
- Financial Accounting- It consists of various other sub-modules like general ledger, accounts receivable, and Accounts payable. These submodules handle different tasks and ensure financial planning.
- Controlling- It tracks and monitors the cost of an organization and allows a business to analyze its profitability. Furthermore, it permits reporting for cost centers.
- Integrating- SAP Fico is capable of integrating with other modules such as SAP SD and SAP PP. This ensures optimum data consistency and facilitates the flow of data.
- Reporting & Analysis- This Module of SAP also offers numerous reporting & analytics capabilities. Furthermore, it also helps in analyzing the profitability of an organization.
- Compliance- By using SAP FICO, businesses can easily comply with the standards of financial reporting and management. Thus, ensuring transparency in an organization.
Who Should Learn SAP FICO
SAP FICO consists of two SAP modules which are SAP FI and SAP CO. Both of them are highly significant modules in SAP ERP and are used by numerous organizations all over the world. In addition, learning SAP FICO can offer you numerous career opportunities related to SAP Financial Accounting and Controlling. This module is ideal for anyone who wishes to start a career as an SAP FICO consultant or Manager. Given below are some professionals who should definitely learn this SAP module.
- SAP & ERP Professionals
- Business Analysts & Consultants
- Financial Analysts & Consultants
- Project Managers & Supervisors
- Accountants & CAs
- Anyone aspiring for a career in SAP
- Anyone aspiring for a career in SAP
What are the Benefits of Obtaining SAP FICO Certification?
SAP FICO is a lucrative career that ensures abundant growth prospects. The SAP FICO certification validates your skills and expertise in the SAP FICO module. In addition, this certification ensures that you have dedicatedly invested your time, money, and efforts in gaining SAP FICO skills. This certification helps you become a subject matter expert and adds more weight to your resume in job interviews. Furthermore, it provides you with many promising and paying job opportunities in the MNC world. The cost of SAP FICO certification training ranges from 25,000 to 35,000 INR in India. Below are a few steps that will help you gain an SAP FICO certification.
- Enroll in the FICO certification training institute.
- Review your syllabus and find the course overview.
- Check sample questions that have arrived.
- Verify alternative options and interact with experts.
- Start Your Exam Preparations.
- Prepare for exams.
Conclusion
SAP Finance & Controlling (SAP FICO) is a functional module of the SAP ERP. It is one of the most significant modules in the SAP ERP and its combination of SAP FI and SAP CO. It is capable of integrating with other modules such as SAP SD and SAP PP. This Module of SAP also offers numerous reporting & analytics capabilities. In conclusion, it is a lucrative career that ensures abundant growth prospects.
