What is SAP FICO: To run organizations successfully, what do the industry experts rely upon? To integrate their core processes or to manage business models effectively, or run a company in a single system, what does industry depend upon? To become an industry expert, what course to pursue?

Software developed by a German company SAP SE answers all the above questions. SAP ERP or Enterprise resource planning is typically used in various departments in an organization to run core business processes. 

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SAP is part and parcel in small as well as in business. To implement the SAP ERP system in an organization every professional should know about this unique ERP system.

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I am sure specialized SAP courses with different modules will be the key to success for every business problem to resolve easily and quickly.

To name a few courses in SAP ERP applications, SAP FICO Courses, SAP HR, SAP CRM, SAP MM Classes, self-paced tutorials in SAP, online and in-person training, and Certification programs are available online for 2021. This includes a course to help you learn SAP FICO. SAP FICO course is ideal for beginners, intermediates, as well as experts. Let us understand SAP and its applications to study in-depth SAP FICO. Here is a comprehensive guide for you to get acquainted with the SAP FICO course.

What is SAP?

“Systems Applications and Products in Data Processing” is commonly and popularly known as SAP. The company’s German name was “Systemanalyse Programmentwicklung”. Originally known by the name Systems analysis program development.

In 1972, Five IBM engineers Klaus Tschira, Plattner, Hector, Hope, and Wellenreuter from the AI department brought SAP into existence. S-A-P is used to pronounce SAP with individual letters.

SAP and Covid-19

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Extraordinary challenge has knocked the door of everyone’s lives i.e. Covid 19 has affected every business. It is a collective will for entrepreneurs, managers, and professionals to manage their work and bring out the best possible of our collective humanity. With the unprecedented situation in pandemic around the world, business applications, software technologies, software, and ERP systems are taken into consideration to enable more efficient and smoother accounting processes. 

As businesses around the globe are navigating through an unexpected turmoil,  SAP is giving a vision adapting to today’s changing environment. SAP has a range of solutions to help you to move forward to sustain and grow.

Understanding SAP will give you the insight to manage the business challenges in the best way. From COVID-19 to a recovery phase in business, for your employees to innovate, restore and reinvent customers, and sustain in business, we need to focus on building financial procurement and become agile.

Characteristics of ERP System

The ERP system is significant and is a combination of different core processes in a single system. Every department in the company faces challenges such as customer service, finance, IT, manufacturing, HR, supply chain, services, procurement, and more.

Our ERP solutions use

  • Intelligent technologies
  • Stay as integrated system
  • Keeping the system updated with cutting costs, and operating with accuracy.
  • Supporting all applications 
  • Simple and consistent module

Key functions of ERP System

There are many common areas in which the ERP system has its own identity. When the functional areas are grouped together they are known as modules.

  • Financial Accounting
  • Customer Relationship management
  • Human Resource
  • Supply Chain Management
  • Material Management
  • Project Management
  • Order processing
  • Data Services

Every module is interdependent and is important for business processing.

Integrated business management by software or by a recent technology in recent days has transformed all business activities. For any size in business, there is a need to develop software solutions.

For managing customer and customer needs and also for managing business operations relationships, every business model prefers SAP as the best ERP solution.

For business data and business analytics, there is a need for business management tools to improve business performance. ERP systems come under business management software and are used to build successful business models. Cloud-based applications or local-based applications are accessible everywhere and are included in ERP systems. Though cloud-based applications can only work when internet access is provided.

What is SAP FICO?

For financial reporting internally or externally, SAP FICO is an important ERP module. At the end of all trading periods, all financial transactions are recorded. 

SAP FICO consists of a specific financial process. To manage and store all your financial data, SAP FICO generates and manages financial statements. 

For effective business planning and right decision-making, the SAP FICO course is a comprehensive guide to learn and understand all the end-to-end implementation steps for configuring SAP FI and CO modules in your organization. 

SAP courses might give you an option to become a triumphant SAP Consultant.  From starting your business or professional journey, the SAP FICO course can help you in your quest. 

SAP FICO course is basically a step-by-step guide to gain knowledge of SAP Financial Accounting. Till now, we are aware that SAP FICO is an integral part of SAP ERP. 

Discover the financial conditions of a company in the market and analyze the solutions for gain. As other ERP modules are connected with each other, learn how to integrate SAP FICO with other SAP modules like SAP CRM, SAP SD, SCM, etc.   This course could benefit professionals with a core understanding of necessary documentation and the right way to develop SAP FICO projects for successful implementation. 

Who wants to learn the ropes of the SAP FICO course and implement it in his/her professional journey? If you are prepared to explore SAP FICO, get ready to gain 

  • Multiple demonstration video lectures
  • Graded assignments
  • Mock tests
  • Quizzes
  • Live Projects
  • Online study material

The above resources with the course will help you to move a step ahead with your learning process. Apart from the above features, reflecting upon the certification part is needed which is eminent for the successful completion of the course. SAP FICO is a widely implemented module in SAP so certification will give you authenticity.

SAP FICO courses are gaining importance and its module gives additional understanding with a lot of preferences in streamlining all business processes encountered in various industries. With online classes, SAP FICO training is convenient, advantageous, and flexible for beginners as well as for intermediate learners. The SAP FICO course will upgrade your career with the basics of the SAP FI module and SAP CO module.

Financial VS Controlling

SAP FICO is meant for external and internal reporting in financial analysis.

FI – Financial Accounting is for external requirements such as balance sheets, cash flow, income statements

CO- Control Analysis is for internal requirements such as for Sales and Profit Analysis, cost center reports

Prerequisites for learning SAP FICO course?

For SAP FI tutorial, go for :

  1. Knowledge of Accounting.
  2. Knowledge of SAP.

SAP FI and SAP CO were separate modules before. SAP FI is used for financial reporting and accounting. SAP CO focuses on controlling the capabilities of SAP ERP software, planning, allocating and analyzing costs and monetary gains.

For beginners SAP FICO configuration, modules, and methodologies, take a walk through SAP FICO installation in any organization. Cover all basic concepts of SAP FICO while learning about data structures and how to store data.

The syntax is necessary for learning the advanced topics in SAP FICO and gain additional knowledge about how you can work with SAP HANA, and SAP BASIS after learning SAP FICO, 

KEY USP’s 

  •  Learn the concept of SAP FICO course in a simple way, finance accounting basics, classify and analyze the business tactics for any business. 
  • Learn product life cycle, budgetary system for data records and Report generation and to execute SAP FICO modules accordingly.
  • Accounts Payable and Accounts receivables to be through with.
  • Understand SAP Control basics with innovations to their business with SAP Financial management solutions.
  • Solve tough exercises, on completing every session. to understand both the syntax, programming of SAP FICO, and get expertise to resolve issues programmatically.
  • Get knowledge of SAP Business analysis to improve your financial activities by setting and implementing SAP FICO modules in your organization.
  • Understand Cost center accounting and how to run business processes successfully on SAP.
  • Learn integration of SAP FICO with SAP MM and SAP SD.
  • Learn a solid understanding of SAP FICO internal orders, Report generation.
  • Become SAP end-user and consultant with well designed step by step modules.

Sub-Module of SAP FI

General Ledger Accounting– The accounts used for the preparation of financial statements are general ledger accounts. A set of all general ledger accounts comes under a chart of accounts. Data information or postings completed in SAP comes under general ledger accounts. General Ledger accounts are further meant for compiling the financial statements.

Accounts Receivable– Accounts Receivable is a submodule of SAP FI where you will learn to create account groups and tolerance groups for customers.  All transactions with customers are entered which manages customer accounts in a systematic way. We conclude that all the transactions done in business that are related to customer accounts come in accounts receivables.

Accounts Payable– Collection of data and maintaining all the day-to-day transactions with respect to the vendors are added to the vendor payable account. As Accounts payable is a submodule of SAP FI, so it captures all transactions with vendors and operations done through vendor accounts.

Bank Accounting– Bank accounting makes all transactions related to banks. Transactions of payments immersed in the Bank accounting module.

Asset Accounting– Managing each and every transaction with respect to assets for an entity that comes in asset accounting. General ledgers are updated after transactions are posted in asset accounts.     

SAP CO 

Sub Module of SAP CO

Cost Center–  For recording, all the expenses incurred in business processes within an organization are recorded in the cost center.

Product Costing– As the name suggests, product costing is used to estimate the cost of producing a product.

Profit Center– The product center records and maintains all the profits of an organization.

Profit Analysis–  Profit analysis is important to track and analyze profit in an organization.

SAP FICO Integration

The integration of SAP FICO with other modules enables integrated systems with automatic updating of transactions to other SAP modules such as HCM, SD,  Material Management, Human Resource Management, Production planning, SAP CRM, and more.  

About Henry Harvin Education

When we think about self-paced learning, Henry Harvin Education is a leading institute in India. It is a leading career and competency development organization that may give you a broader vision and a global perspective. With a focus on value creation and individual upgrades, Henry Harvin has made courses fundamental and popular among students around the globe.

Henry Harvin is into mentorship, training programs on SAP software, skill development, E-learning, assessment centres, and professional development programs, content writing services, and more.

Henry Harvin Education promotes skill-centric training with stand-out courses, promoting refined critical thinking with greater efficacy for working executives.

With added flexibility for students and learners, Henry Harvin has trained 18000+ individuals across with new technical skills.

Henry Harvin Education conducts 700+ batches for various courses in more than 23 cities in India. They provide training in partnership with more than 55+ top colleges and universities of India. 

Henry Harvin has collaborated successfully with more than 150 corporate giants. 

Why Henry Harvin

  • Henry Harvin has offered simple and well-structured courses. 
  • It is one of the known academies with recognized courses online and self paced too. The institute has lots of accreditation in the industry. 
  • Providing excellent training to the students.Helping business enterprises to sustain in the digital world successfully by providing courses in diverse fields.
  • Henry Harvin SAP writing Academy has built a marketplace in education.
  • Online training, and development programs with so many awards and accolades.
  • Henry Harvin provides 100% practical training methods.
  • The institute offers specially designed courses for everyone.

Henry Harvin Academy

Henry Harvin is a reputed institution with training provided in diverse fields. With presence 

There are multiple courses available at Henry Harvin Education to choose from, such as Financial Accounting and taxation course, SAP FICO S/4HANA, SAP FICO ECC Course, SAP MM S/4 HANA course, etc. Upon completion of any of the above-mentioned courses will give you an opportunity to become an SAP consultant with the core understanding and expertise that you need to manage your financial accounting and reporting efficiently. 

Let’s have a look at one of the popular courses from Henry Harvin SAP Academy SAP FICO S/4 HANA Course.

SAP FICO Training Course at Henry Harvin

This extensive SAP FICO S/4 HANA Course which is ranked among the top 3 courses in India provides multiple sessions with many trainers to acquaint participants in Financial Accounting and Controlling.

SAP FICO course trains students to work on SAP FICO tools. 

To generate balanced statements is the main aim of the course, add several skills.

Gaining control of SAP ERP financial accounting and controlling capabilities with the SAP FICO course also provide you with hands-on experience on general ledger, account receivables, account payables.

Objectives of the course:

  • To gain knowledge on present technology
  • Prospects are positive with job placement.

Key Features:

Designed in a simple structure and format so that you can learn every concept and module easily. Henry Harvin helps in 

  • Master the art of smart learning with Henry Harvin
  • Ranked among the top courses by training 360.
  • Job support, live projects with live online instructor-LED 
  • SAP FICO Certification provided with affiliations
  • Best training tools applied
  • Bootcamp Sessions or Webinars conducted
  • 24×7 Lifetime Support available
  • Certification with the successful completion of course with Hallmark of SAP FICO Practitioner on certificate 
  • Experienced Trainers
  • Live Projects and internship is provided
  • Placement and Alumni Status
  • Gold Membership Benefits of Finance Academy

Fee Structure:

For Self Paced SAP FICO Course – 26550/- Indian Rupees (you get 24* 7-lifetime support and access)

Live Online Classroom- 29500/- Indian Rupees ( Gold membership with the internship, certification, videos, recordings for 12 months)

Accounting and Taxation Course

Conclusion:

SAP FICO course is a highly demanding robust course. As we can understand that Finance is a critical component in every business organization and the SAP FICO course and its varied modules help manage complex financial needs. 

To ensure a sizable bottom line, financial management in businesses plays an eminent role. Allocating resources in a corporation in the most meaningful way, the SAP FICO course may help to turn the return on investment into profits and returns.

SAP consultants use FICO modules to expand the business using tools such as financial reports, vendor accounting, general ledgers, Account receivables, and account payables to review the financial status of a company.

So if you want to help the business sector to generate and analyze financial statements, for a successful and economical business model. With a mouse click, we can achieve our business tasks with much accuracy and relevance.

SAP FICO has made our office work easy. Whether you have to generate a chart or gather data, or you need to do financial calculations, Sap FICO will help you to carry our accounting and controlling responsibilities on time.

Recommended Reads

 

  FAQs

Q 1. What does an SAP FICO End User do?

SAP End Users come into play for operating day-to-day account transactions after the SAP project is implemented. An SAP FICO End User does activities like posting an invoice, collections, Purchase orders, managing the data, Goods receipt, etc.

Q 2. Is a Career in SAP FICO beneficial?

Yes, SAP FICO is the leading ERP worldwide which offers you numerous career options within its domain. So pursuing SAP FICO will give you additional benefits in your career progression.

Q 3. How to Become an SAP FICO Consultant?

For becoming an SAP FICO consultant, analyze if you are a fresher or an experienced professional. 
For beginners:
Get a couple of year’s experience as an end-user – Initially, opt for a job related to business operations as many sectors in the industry use SAP as a software application.
Go for SAP FICO Training
Learn SAP FICO with Free online resources like online tutorials, Learning Videos, SAP blogs, Articles related to SAP FICO.
Practice makes a person perfect – Keep on practicing, go for summer training, internship to gain practical experience.
Job hunt in SAP FICO – Your goal is to grab any FICO job role. You can be a trainee or superuser or a power user, a tester, or a consultant who will give you exposure and experience.
If you are an experienced professional but new to SAP, you just have to start from step 2. As the rest of the steps remain the same.

Q 4. Who can pursue the SAP FICO course?

Though there are no qualifying criteria for becoming an SAP FICO professional, enthusiasm, self-confidence and determination will make you shine. If you have an interest in SAP or SAP-related modules, you can go for the SAP FICO course. For your quick learning and smooth understanding, the following recommendations may be helpful for you:
* Graduates with B.Com or M.Com Degree
* CA, CS, CFA aspiring students or completed any of these qualifications
* Experience in any Accounting software may help
* If you have basic knowledge of Accounts (Finance or Accounting Terms, Journal Entries, etc.)
* BBA or MBA qualified

Q 5. Is it necessary to go for SAP FICO certification?

SAP FICO certification is truly your choice. Certification is not mandatory, yet recommended.

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31 Comments

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