SAP FICO is for the persons who are in Finance/Accounting profession. FICO stands for Finance and Controlling.
SAP FI: It is an important module as the financial transactions are processed for external reporting. SAP FI module integrates with many parallel modules that enable an organization to unify processes that are needed by the utilization of many software packages.
There are many sub-modules that streamline and specialize in each aspect of the Financial Accounting Processes:
AA – Asset Accounting
AP – Accounts Payable
AR – Accounts Receivable
BL – Bank Accounting
FM – Funds Management
GL – General Ledger Accounting
LC – Legal Consolidations
SL – Special Purpose Ledger
TM – Travel Management
SAP CO: SAP CO refers to the managerial accounting. The organizational elements in CO are operating concern, controlling area and cost centers. SAP Co modules helps the management by providing reports on cost centers, profit centers, contribution margins, profitability etc.
SAP FICO Controlling module components are
Cost Element Accounting
Cost controlling
Cost center Accounting
Internal orders
Activity based costing
Product Cost Controlling
Profitability Analysis
Profit Center Accounting
SAP FI: It is an important module as the financial transactions are processed for external reporting. SAP FI module integrates with many parallel modules that enable an organization to unify processes that are needed by the utilization of many software packages.
There are many sub-modules that streamline and specialize in each aspect of the Financial Accounting Processes:
AA – Asset Accounting
AP – Accounts Payable
AR – Accounts Receivable
BL – Bank Accounting
FM – Funds Management
GL – General Ledger Accounting
LC – Legal Consolidations
SL – Special Purpose Ledger
TM – Travel Management
SAP CO: SAP CO refers to the managerial accounting. The organizational elements in CO are operating concern, controlling area and cost centers. SAP Co modules helps the management by providing reports on cost centers, profit centers, contribution margins, profitability etc.
SAP FICO Controlling module components are
Cost Element Accounting
Cost controlling
Cost center Accounting
Internal orders
Activity based costing
Product Cost Controlling
Profitability Analysis
Profit Center Accounting
