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Program in SAP FICO
Learn SAP FICO module and gain expertise in financial accounting and controlling.
This program covers key concepts like general ledger, asset accounting, and cost center management.
Through practical projects and real-world scenarios, develop the skills needed to optimize financial processes.
Perfect for aspiring finance professionals aiming to excel in SAP-driven environments.
Objectives of learning the course
- To understand the basic concepts and architecture of the SAP FICO module
- Learn to configure and use various sub-components of SAP FICO, such as financial accounting (FI), controlling (CO), and asset accounting.
- Acquire the skills to create and maintain financial accounting documents and ledgers.
- Understand to create and manage cost elements, cost, and profit centers.
- Learn to perform financial reporting and analysis.
- Understand to create and manage cost elements, cost, and profit centers.
- Gain skills to troubleshoot and resolve common SAP FICO issues.
- Understand to use the new GL (General Ledger) and its features.
- Learn to implement and manage currency management
- Understand how to use the document splitting features to split the financial documents into multiple segments.
- Understand to use parallel accounting features to create multiple versions of the same financial documents.
- Understand to use the profit center accounting features to create and manage profit centers.
- Understand to use the COPA modules and features, such as cost and revenue elements accounting, activity-based costing, and profitability segment reporting.
Advantages of the course
- Comprehensive financial management: SAP FICO enables organizations to perform a wide range of financial management tasks, including general ledger accounting, accounts payable, accounts receivable, asset accounting, and bank accounting
- Integration with other SAP modules: SAP FICO can be integrated with other SAP modules such as Sales and Distribution (SD), Materials Management (MM), and Production Planning (PP), among others, to provide a comprehensive view of an organization's financial situation
- Real-time data: With SAP FICO, organizations can access real-time financial data, which enables them to make informed decisions quickly
- Improved financial reporting: SAP FICO provides a range of reporting tools that enable organizations to generate financial reports quickly and accurately, including balance sheets, income statements, cash flow statements, and more
- Enhanced compliance: SAP FICO helps organizations to comply with various regulatory requirements, including GAAP (Generally Accepted Accounting Principles), IFRS (International Financial Reporting Standards), and local tax regulations
- Cost savings: By automating financial processes, SAP FICO can help organizations save time and reduce the risk of errors, which can ultimately lead to cost savings
- Improved business processes: SAP FICO enables organizations to streamline their financial processes and improve their overall business processes, which can result in increased efficiency and productivity
Opportunities for the learners
- Job opportunities: With the rise of digitalization and automation, companies are looking for candidates with SAP FICO skills to manage their financial data and accounting processes. Students with SAP FICO knowledge can find job opportunities in various industries, including banking, insurance, manufacturing, retail, and more
- High salary: SAP FICO professionals are in high demand, and therefore, they command a high salary. As per payscale.com, the average salary for an SAP FICO consultant is around $100,000 per annum in the United States
- Global recognition: SAP FICO is used by several companies worldwide, making it a globally recognized skill. Students with SAP FICO knowledge can work in different countries and gain exposure to diverse business cultures and practices
- Career growth: SAP FICO offers excellent career growth opportunities for students. With the right skills and experience, they can advance to positions such as SAP FICO team lead, manager, or consultant
- Entrepreneurship: Students with SAP FICO knowledge can also start their own consulting firms and offer services to various businesses. They can work as freelancers or start a full-fledged consulting firm, depending on their goals and aspirations
- Entrepreneurship: Students with SAP FICO knowledge can also start their own consulting firms and offer services to various businesses. They can work as freelancers or start a full-fledged consulting firm, depending on their goals and aspirations
- In summary, SAP FICO offers several opportunities for students to kick-start their careers in finance and accounting, earn a high salary, gain global recognition, and pursue entrepreneurship.
Prerequisites for the course
- Have a basic understanding of accounting principles and financial concepts. Additionally, having some experience or knowledge of SAP software or other enterprise resource planning (ERP) systems can be helpful, although it is not mandatory
- Familiarity with computer systems and software, as well as good analytical and problem-solving skills, can also be beneficial
- Technical skills: Participants should have basic computer skills and be comfortable working with software, as the training will use the SAP FICO module
- Willingness to learn: Participants should be willing to learn and actively participate in the training to gain the most benefit
- It's also worth noting that, even though it's online training, certain providers like us provide the necessary software and access to the SAP system to complete sap financial controlling certification training exercises and assignments, so learners don't have to worry about that, in addition to having a dedicated support team to help with any technical issues
- Those who want to learn and extend their knowledge to configure SAP FICO
Course structure
Some of the topics covered in a SAP FICO course include:
- Overview of SAP and its components.
- Introduction to the SAP FICO module.
- Understanding the organizational structure of financial accounting.
- Creation and maintenance of company codes, charts of accounts, and fiscal year variants.
- Master data maintenance for G/L accounts, customer, and vendor accounts.
- Configuration of general ledger accounting, accounts receivable, accounts payable, and asset accounting.
- Financial statement creation and analysis.
- Integration of SAP FICO with other modules such as Sales and Distribution (SD) and Materials Management (MM)
- Controlling module overview, cost element accounting, cost center accounting, and internal orders.
- Creation and execution of financial reports using SAP FICO.
- Analysis of profitability and cost management.
- Overview of SAP FICO project implementation methodologies.
- The course may also include hands-on exercises, case studies, and project work to provide practical experience in working with SAP FICO.
- Provides a comprehensive understanding of the SAP FICO module and its integration with other modules in the SAP system.
- It covers topics such as financial accounting, controlling, and financial reporting.
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Objectives of learning the course
- To understand the basic concepts and architecture of the SAP FICO module.
- Learn to configure and use various sub-components of SAP FICO, such as financial accounting (FI), controlling (CO), and asset accounting.
- Acquire the skills to create and maintain financial accounting documents and ledgers.
- Understand to create and manage cost elements, cost, and profit centers.
- Learn to perform financial reporting and analysis.
- Understand to integrate SAP FICO with other SAP modules, such as Sales and Distributions, in the material management.
- Gain skills to troubleshoot and resolve common SAP FICO issues.
- Understand to use the new GL (General Ledger) and its features.
- Learn to implement and manage currency management.
- Understand how to use the document splitting features to split the financial documents into multiple segments.
- Understand to use parallel accounting features to create multiple versions of the same financial documents.
- Understand how to use the profit center accounting features to create and manage profit centers.
- Understand to use the COPA modules and features, such as cost and revenue elements accounting, activity-based costing, and profitability segment reporting.
Advantages of the course
- Comprehensive financial management: SAP FICO enables organizations to perform a wide range of financial management tasks, including general ledger accounting, accounts payable, accounts receivable, asset accounting, and bank accounting.
- Integration with other SAP modules: SAP FICO can be integrated with other SAP modules such as Sales and Distribution (SD), Materials Management (MM), and Production Planning (PP), among others, to provide a comprehensive view of an organization’s financial situation.
- Real-time data: With SAP FICO, organizations can access real-time financial data, which enables them to make informed decisions quickly.
- Improved financial reporting: SAP FICO provides a range of reporting tools that enable organizations to generate financial reports quickly and accurately, including balance sheets, income statements, cash flow statements, and more.
- Enhanced compliance: SAP FICO helps organizations to comply with various regulatory requirements, including GAAP (Generally Accepted Accounting Principles), IFRS (International Financial Reporting Standards), and local tax regulations.
- Cost savings: By automating financial processes, SAP FICO can help organizations save time and reduce the risk of errors, which can ultimately lead to cost savings.
- Improved business processes: SAP FICO enables organizations to streamline their financial processes and improve their overall business processes, which can result in increased efficiency and productivity.
Opportunities for the learners
- Job opportunities: With the rise of digitalization and automation, companies are looking for candidates with SAP FICO skills to manage their financial data and accounting processes. Students with SAP FICO knowledge can find job opportunities in various industries, including banking, insurance, manufacturing, retail, and more.
- High salary: SAP FICO professionals are in high demand, and therefore, they command a high salary. As per payscale.com, the average salary for an SAP FICO consultant is around $100,000 per annum in the United States.
- Global recognition: SAP FICO is used by several companies worldwide, making it a globally recognized skill. Students with SAP FICO knowledge can work in different countries and gain exposure to diverse business cultures and practices.
- Career growth: SAP FICO offers excellent career growth opportunities for students. With the right skills and experience, they can advance to positions such as SAP FICO team lead, manager, or consultant.
- Entrepreneurship: Students with SAP FICO knowledge can also start their own consulting firms and offer services to various businesses. They can work as freelancers or start a full-fledged consulting firm, depending on their goals and aspirations.
In summary, SAP FICO offers several opportunities for students to kick-start their careers in finance and accounting, earn a high salary, gain global recognition, and pursue entrepreneurship.
Pre-requisites for the course
- Have a basic understanding of accounting principles and financial concepts. Additionally, having some experience or knowledge of SAP software or other enterprise resource planning (ERP) systems can be helpful, although it is not mandatory.
- Familiarity with computer systems and software, as well as good analytical and problem-solving skills, can also be beneficial.
- Technical skills: Participants should have basic computer skills and be comfortable working with software, as the training will use the SAP FICO module.
- Willingness to learn: Participants should be willing to learn and actively participate in the training to gain the most benefit.
- It’s also worth noting that, even though it’s online training, certain providers like us provide the necessary software and access to the SAP system to complete sap financial controlling. certification training exercises and assignments, so learners don’t have to worry about that, in addition to having a dedicated support team to help with any technical issues.
- Those who want to learn ad extend their knowledge to configure SAP FICO.