SAP FICO Training in Hyderabad

SAP Controlling Module and its Application

SAP which includes data, configuration and reporting. The master data referred to here can refer to activity types, statistical key figures, functional area, internal orders, profit centers, cost centers, and cost elements.

Internal orders include all the essential events, profit centers and cost centers consist of all the departments that handle cost and profit of an organization, cost elements consist of all the cost and revenue accounts.

The implementation enables one to view cost data associated within internal management. This module also enables one to obtain an enhanced view of Finance reporting while also helping one to manage records and make multiple decisions related to the Enterprise.

Management of reporting and information database according to the Business needs of the Enterprise is also made possible by this module. Some particular advantages of implementing this module include:

• Track cost heads and make detailed plans according to the cost head for the future
• Build reports on sales and profitability ensured through a product or internal measurements
• Keep track of costs for custom events and assign them to associated departments
• Manage production costs, product costing, along with variances access activity based cos.

SAP FI Module and its Application

As the name implies, SAP Financial Accounting is meant to enhance Finance Management in organizations on various levels. The most important component of any Enterprise is Finance and this module focuses on this aspect and aims to perfect Finance Management.

Finance is so crucial and complex in itself that it tends to become stressful to handle the Management of Finance in a comprehensive manner using manual methods alone. This is the main reason why SAP FI as a module has transformed into a highly popular tool to be implemented in Enterprises worldwide.

This said to come in a package which enables Enterprises to handle widespread financial requirements coupled with accounting processes and activities. It enables one to review enterprise financial status in a real time market scenario. The most essential components of the FI module are as given below.

• Asset Accounting
• Account Consolidation
• General Ledgers
• Accounts Receivable
• Accounts Payable

The implementation of SAP FI will obviously include SAP FI configuration, with the Business Manager being able to configure the SAP FI user post setting up the given primary configurations. Such configuration is generally executed by the Business Manager by coordinating a collating with the enterprise, client, enterprise area configurations and a whole lot more.

After this, everything ranging from the master data to the detailed financial statements can be migrated to SAP FI systems for extracting the optimum results from enterprise financial management systems.

The needs for SAP FI configuration consist of Fiscal year variants, chart of accounts and currencies. Post completion of the configuration, document posting is done in an automatic manner.

Through this organizations can view its financial status on a real-time basis. This allows organizations to keep track of all financial transactions and also aid in Finance reporting at the fiscal year end.

One needs a comprehensive understanding of SAP FICO to check its necessity for an individual. This module is interrelated and aids one in management of Business processes leading to highly optimized Finance Accounting and Data Management.

This kind of in-depth SAP implementation is highly complex and needs a sufficient amount of training. It is recommended for people to take up training in SAP FICO module to enable them to understand the module and its functionalities better, thus enabling them to decide whether the product is right for them to meet their financial reporting and accounting needs.

Sub-Components of SAP CO Module:

• Overhead Management
• Internal Order Accounting
• Cost Element Accounting
• Cost Center Accounting
• Activity Based Costing
• Product Costing
• Profit Center Accounting
• Profitability Analysis

SAP FICO System is soo Understanding

SAP system has many submodules such as Finance Accounting (FI), Controlling (CO), Project System (PS), Financial Supply Chain Management (FSCM), Sales and Distribution (SD), Material Management (MM), Production Planning (PP), Customer Relation Management (CRM), Human Resources (HR), Warehouse etc.

SAP system also provides many other industry-specific submodules. There are many other industry-specific modules for SAP such as SAP Travel, SAP security, SAP appear and footwear SAP AFS and many more. The SAP provides modules for each and every business domain.

On top of these modules, there are many integration points such as Order to Cash (OTC) and Procure to Pay (PTP), FI-HR integration, etc. There are many third-party solutions such as Third-party tax ware, Third-party analytics solutions such as Runbook to make SAP system enhanced.

SAP system is a net-like structure that keeps connecting all of the above areas. SAP system provides real-time data flow among different departments. This means one department will get real-time data from another department inside the system itself. This is a very important aspect of an easy transaction for a large organization.