SAP FICO Consultant Jobs

October 13, 2018
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Starting a Career as a SAP FICO ConsultantSAP is among the biggest companies of enterprise software program towards better enterprise resource planning. SAP means Systems, Programs, and Items in Information Systems. In 1972, SAP began starting business solutions which help organizing processes in businesses. Through the years, different modules in SAP were produced for different processes. SAP Finance and Controlling (Credit) is among the most broadly used SAP modules. SAP Credit module includes SAP FI configuration, SAP CO configuration, SAP FI user and SAP CO user. Anybody searching toward begin their career being an SAP Credit consultant must develop a strong base covering each one of these facets of SAP FI module and SAP CO module. Let’s have an introduction to SAP FI and SAP CO module.

SAP FI Module and it is Application

SAP Financial Accounting because the term indicates upgrades finance management in businesses. Finance is easily the most critical a part of watch which is aimed at the right control over finance. It might be demanding and sophisticated to handle the whole financial accounting part by guy-energy. Therefore, SAP FI module has become a well known module effectively implemented in organizations. SAP financial accounting module has a package that can help organizations in handling financial needs and accounting activities. It enables someone to evaluate the financial status of the organization instantly market. Popular components define the FI module are:

  • A / R
  • Accounts Due
  • Resource Accounting
  • Account Consolidation
  • General Ledgers
SAP FI implementation involves SAP FI configuration. The company manager can configure SAP FI user after establishing couple of primary designs. These designs are often made by the company manager aiming with client, company, business area designs and much more. After that, from master data to financial claims could be migrated towards the SAP FI system for driving the most out of organized financial management system. The needs for SAP FI configuration are chart of accounts, fiscal year variants and foreign currencies. When the configuration is finished, the document posting will instantly be published after that. Businesses will have the ability to view its real-time financial status. This allows businesses to help keep a tabs on every financial transaction helping in finance confirming in the finish of fiscal year.

SAP Controlling Module and it is Application

SAP CO is yet another important module in SAP. SAP controlling includes SAP CO configuration and SAP CO user and includes master data, configuration and confirming. Master data pointed out here could be cost elements, cost centers, profit centers, internal orders, functional area, record key figures and activity types. Cost elements include all of the cost and revenue accounts, cost centers and profit centers include all of the retail models that handle cost and profit of the enterprise, internal orders include all of the important occasions and so forth. SAP CO implementation enables someone to see the data of costs involved within internal management. This module helps you receive a better look at finance confirming helping you manage records and take various choices associated with the business. Also this module allows organizations to handle confirming and knowledge database according to the requirement of their business. Probably the most beneficial details about SAP implementation in organizations are:
  • Track cost heads making future plans accordingly
  • Have a tabs on costs for specialised occasions and assign these to appropriate departments
  • Avail activity based costing across processes
  • Manage product costing, production costs and variances
  • Build reviews on sales and profitability made certain via a product or perhaps an internal measurement
  • Build reviews on sales and profitability made certain via a product or perhaps an exterior measurement

Sub-Aspects of SAP CO Module:

  • SAP CO-OM: Overhead Management
  • SAP CO-OM-CCA: Cost Center Accounting
  • SAP-CO-OM-OPA: Internal Order Accounting
  • SAP-CO-OM-CEL: Cost Element Accounting
  • SAP-CO-OM-ABC: Activity Based Costing
  • SAP-CO-PCA: Profit Center Accounting
  • SAP-CO-PA: Profitability Analysis
  • SAP-CO-PC: Product Costing
Source: www.simplilearn.com
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