SAP ERP FICO Module Training

SAP FICO is a crucial functional module within SAP ERP, comprising two key components:

1. SAP Financial Accounting (FI): This component focuses on financial reporting and accounting management. It handles tasks related to recording financial transactions, maintaining general ledger accounts, and preparing financial statements. Key functionalities include:
   • General Ledger Accounting: Manages all general ledger accounts used for reporting. A company’s chart of accounts defines these accounts, and transactions are reconciled with the general ledger in real time.
   • Accounts Receivables: Captures transactions with customers, maintains separate customer accounts, and updates reconciliation accounts in the general ledger.
   • Accounts Payables: Handles transactions with vendors, maintains separate vendor accounts, and updates reconciliation accounts in the general ledger.
   • Asset Accounting: Manages all asset-related transactions for an entity, updating reconciliation accounts in real time.
2. Controlling (CO): This component emphasizes planning and monitoring costs throughout the organization. Key functionalities include:
   • Cost Element Accounting: Tracks costs and revenues associated with specific cost elements.
   • Cost Center Accounting: Manages costs and revenues related to specific cost centers within the organization.
   • Internal Orders: Handles internal project-related costs.
   • Profit Center Accounting: Analyzes profitability by tracking revenues and costs for specific profit centers.
   • Product Cost Controlling: Calculates product costs for manufactured goods.
   • Profitability Analysis (CO-PA): Evaluates profitability based on various dimensions (e.g., product, customer, market segment).