Technical Overview Of SAP FI/CO
Last updated on Tue 17 Mar 2020
SAP means System Applications Products in business data processing and FI pertains to Finance and CO means controlling in an exclusive SAP Certification. This was founded in 1972 and was renamed after five years before it was officially known as System Analysis and Program Development. SAP is a known ERP System also referred to as Enterprise Resource Planning system. This is the merging of the management practices in business wherein information technology incorporate the primary processes in business facilitating attainment of explicit objectives of business.
Learning SAP FI/CO and the Prerequisites
One of the foremost and spicy modules of SAP is (FICO) or Financials and controlling module. Plenty of users prefer to dive into the venture for getting SAP FICO training thoroughly. This is famously accepted as a very hot and spicy segment of SAP and plenty of folks prefer to undergo its technical training. It covers the finest technical aspects i.e. Book keeping and management of your business. Plenty of organizations are conducting crash SAP FICO training courses to train their employees. Moreover, the IT department has plenty of superlative FICO related jobs for all those folks who know ins and outs of FICO. There are some pragmatic essential prerequisites which are essential prior to get SAP FICO training. The first and the foremost prerequisite is the academic criteria i.e. the applicant must have passed any degree equivalent to M.COM, ICWA, BBA, CMA, CA, B.COM, ACCA or MBA. The practical experience of a domain is also necessary for the appearing candidate as well. The applicants who have worked in the book keeping and cost accounting field for one year are the perfect candidates to undergo SAP FICO training. In short, the candidate must have the basic knowledge of domain, accounting, asset management and balance sheet information.
Different Approaches to Learn SAP FI/CO
You can get the appropriate SAP training in the following popular manners. The first popular approach is the traditional classroom approach. This is a bit expensive in a way that you have to pay for the travelling expense and the related teachers and building pays etc. The other best SAP FICO training strategy is to refuse the classroom experience and stick to the online learning strategy. This has now been rather a remarkable experience as the candidates are able to organize their learning timetable in the way they want. They can even learn the classes at night. Moreover, the students can get much valuable learning stuff on the superlative resource of internet. You can't exactly predict the expenses of this SAP FICO training courses as they vary from place to place. Classroom training is a bit more expensive than that of the online training. Likewise, any added latest facilities can also cost you more bucks. If the institute has more experienced teachers then they would definitely pay them more and crank out additional money from your pockets as well. After acquiring the SAP FICO training, you would be awarded an instant professional boost that would take your career much ahead in your professional life. Plenty of IT jobs would be available at your doorstep right after completing SAP FICO training course successfully.
SAP FICO entails numerous advantages and benefits as well. No wonder many individuals are pursuing career under this category. This helps in integrating different modules dealing with finance and controlling. These modules also cover external and internal accounting. The FICO’s functional components for finance include ledger, fixed assets, account payables and receivables. For controlling, the functional components are internal orders, cost and profit center accounting, profitability analysis.
The financial accounting in SAP features an imperative primary module wherein real-time financial transactions and processing will be captured providing a basis via data that can also be drawn for the purpose of external reporting. The SAP software financial modules also help companies and businesses unite parallel modules that might be in need for the utilization of software packages. SAP FI (Finance) has the capacity of meeting the accounting and financial need of organizations.
Controlling in SAP also pertains to managerial accounting. The CO (Controlling) organizational elements that are facilitated by SAP modules benefit managers by providing them with reports on profitability, cost centers and more. In order to get a certification on SAP FICO, individuals need to learn courses of TFN152 and TFN150. There is a comprehensive course syllabus that is featured online. Interested individuals should take the necessary effort to surf and research on websites because several sites offering tons of information.
The syllabus on SAP FICO courses are focused on subjects that students and other interested individuals should concentrate more. Sufficient knowledge on all the aspects of SAP FICO can help individuals boost their career and improve their business. There are plenty of reasons why enterprise software are becoming widespread and popular. Organizations and businesses have to deal with many complexities and challenges along the way. Learning SAP FICO can be an excellent means to keep an eye to the present and future financial aspects of business.
It is given reality that managing an enterprise is never that easy. This is where SAP FICO takes the scene and plays its essential role. Many areas in enterprise operation on large scale basis can actually benefit a lot from SAP. These areas include resource management, mobility networks, supply and materials chain management and control and finance. But when it comes to controlling and finances, the most popular module of SAP is SAP FICO.