1 / 3

Mastering SAP FICO: A Guide to Its Key Modules.

The SAP FICO represents Financial Accounting and Controlling. It acts as an aid for effective financial planning, business planning and decision-making processes.

Datasquad
Download Presentation

Mastering SAP FICO: A Guide to Its Key Modules.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MasteringSAPFICO:AGuidetoIts KeyModules. Introduction: TheSAPFICOisrepresentedastheFinancialAccountingandControlling.Ithelpscompaniesgenerateandmanagefinancialstatementsforanalysisandreportingandactsasan aidforeffectivebusinessplanninganddecision-makingprocesses. AnSAPFICOconsistsoftwocomponentsFinanceandControlling.Bothofthemhave differentfeaturesandfunctions. SAPFIhelpsorganizationsincreatingfinancialstatementsforreportingandanalysis.Itposts allthefinancialtransactions,revenuesandexpenses.Thetypesoffinancialstatementsconsist ofbalancesheets,ledgerstatementsandprofitandlossstatements. Controllingprovidestheinformationformanagementfordecision-making.Itfurnishes coordination,monitoringandoptimizationofallprocessesinanorganization.Thisinvolves trackingboththeuseofresourcesandservicesofferedbyanorganization.Itprepares documentationofactualeventsandithasthemaintaskofplanning.Whilethecontrolling actsasaplanninganddeterminesthevariancebycomparingactualdatawithplanneddata. SAPFIincludesthesubmodulesasfollows: GeneralLedger: Thegeneralledgerholdsallthefinancialdataoftheorganization.Allthefinancial entriesarepresentinit.Thisdataisusedbytheothermodulesforthereconciling. BankLedger: TheBankledgerconsistsofalltransactionsrelatedtotheorganization'sbankaccount data.Thissub-modulereconcilesallthetransactionsrecordedonthebankstatements andcomparesthemwiththesystemtransactions. Accountspayable: Itisthesub-ledgeraccountingtypeofaccounting.Itrecordsallthebusiness transactionsofthevendorpurchaseactivitiesanditgeneratesautomaticpostingsin theGeneralledgeraccounting. AccountsReceivable: Accountsreceivableisasub-ledgertypeofaccounting.Itrecordsalltheaccountsof thecustomer'ssalesactivitiesandgeneratesautomaticpostingsinGeneralledger accounting.

  2. Asset Accounting: • Theassetaccountingsub-modulemanagesalltheassetsoftheorganization.Itallows • tomanagethefixedassetssuchasland,building,machinery,equipmentandproperty. Thissub-modulerecordsthetransactionsrelatedtoretirement,depreciation, • revaluation,andsoon. • FundsManagement: • Thissub-modulemanagesallthefundsoftheorganizations.Itincludesallthe transactionsforfundsreceiving,fundsexpenditureandfutureexpenses. • SAPCOincludesthesub-modulesasfollows: • CostElement: • Thecostelementdescribesalltherevenuesandexpendituresoftheorganization.The costelementsareoftwotypes. • Primarycostelement. • Secondarycostelement. • CostCentreAccounting: • TheCostCentreAccountingtracksspendingpurposeswithintheorganizationand managesspendingacrossallinternaldepartments,suchassales,marketing,human • resources,andotherexpenses. • ProfitCentre: • ProfitCentreAccountingenablesorganizationstotrackandanalyzethefinancial performanceofdifferentprofitcentresintheorganization.Itdividesthe • organizationalstructureintodifferentprofitcentres. • InternalOrders: • Thissub-moduleintendstomanageallexpensesassociatedwiththesmallerinternal projectsornon-fixedassets. • ProfitabilityAnalysis: • Theprofitabilityanalysissub-moduleallowstheorganizationtoanalysethe profitabilityoftheiroperationsusingadata-ledapproach.Itworksbyanalyzing • profitabilityoverdifferentlevelsofdetail,includingregion,demographics,product • typeorspecificchannel.Thisallowstheorganizationstoidentifytheirstrengthsand planforthefuture.Italsoallowsforbuildingstrategiesaroundproductpricing,target marketsandbusinessexpansionintodifferentregions.

  3. BenefitsofSAPFICO. • Itmanagesthecashflowandensuresfinancialstability. • Itidentifiesandmitigatesthefinancialrisks. • Itevaluatestheinvestmentopportunitiesandmaximizestheprofitforthe organization. • Itsupportsbudgetingandforecasting. • Itevaluatestheorganization'sfinancialperformance. • Conclusion: • SAPFICOrepresentsFinancialAccountingandControlling.Ithelpstheorganization intheanalysisoffinancialstatementsthroughbalancesheets,ledgerstatementsand • profitandlossstatements.TheSAPFICOconsistsofmanysub-modulessuchas generalledger,accountspayable,accountsreceivable,costelement,profitcentre, • profitabilityanalysisandmanymore.Eachmodulehasadifferentfeatureand function.SAPFICOensuresfinancialstability,andriskmitigationandsupports budgeting,forecastingandstrategicplanningforbusinessgrowth.

More Related