Introduction SAP, or Systems Application and Products in Data Processing, is a highly popular Enterprise Resource Planning (ERP) framework offering various enterprise solutions like human capital management, finance management, and sales. The SAP framework has numerous modules like Human Resource Management (SAP HRM), Human Capital Management (SAP HCM), Production Planning (SAP PP), Material Management (SAP MM), Financial Supply Chain Management (SAP FSCM), Financial Accounting and Controlling (SAP FICO), etc. Among all these modules, SAP FICO is the most vital SAP module for enterprises. SAP FICO consists of SAP Finance (FI) and SAP Controlling (CO). The SAP FI component implements various tasks related to financial reporting and accounting. SAP CO component is used to plan and monitor the costs of an enterprise. The SAP FICO module enables organizations to store the complete version of their financial transaction data. Additionally, this SAP module helps enterprises generate and manage various financial statements for analysis and reporting and facilitates effective business planning and decision-making. Several large-scale and small-scale businesses use the SAP FICO module, thereby generating huge demands for SAP FICO-certified professionals. One can check different websites to understand the SAP FICO Certification Cost and take up the SAP FICO training to make significant career advancements. This blog offers detailed information about the SAP FICO module and its types. Read on to learn more. SAP Finance (FI) Modules The SAP FI component implements various tasks related to financial reporting and accounting. Different types of financial statements include balance sheets or profit and loss statements. Let us look at the sub-modules under SAP FI.
SAP CO Modules The SAP CO component is used to plan and monitor the costs of an enterprise. This SAP module supports planning processes and reporting and monitoring the costs from business operations. Let us look at the various sub-modules of SAP CO.
Conclusion To summarise, SAP FICO is an essential SAP ERP module facilitating various business operations. The SAP FICO modules consist of SAP Finance (FI) module and the SAP Controlling (CO) module. While the SAP FI module is used to implement tasks related to financial reporting and accounting, the SAP CO module is used to plan and monitor business costs. The SAP FI module consists of sub-modules like General Ledger, Accounts Receivable, Accounts Payable, Asset Accounting, Bank Ledger, Consolidation, Funds Management, Special Purpose Ledger, and Travel Management. The SAP CO module comprises sub-modules like Cost Elements, Cost Centres, Profit Centres, Internal Orders, Profitability Analysis, and Product Costing. One can join SAP FICO Training to learn more about this SAP module and advance their career. SAP FICO is a widely used module and holds huge scope for aspiring professionals.
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AuthorI'm a blogger who contributes to the Croma Campus blog. Croma Campus is a training center that offers instruction in a variety of subjects. Archives
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