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.
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.
There are specific areas addressed by SAP FICO and these are bank accounting, accounts payable and receivable, ledgers, and financial asset management. It is quite interesting and beneficial to have knowledge on finance and control. This entails better and more effective financial management.