SAP Simple Finance Online Training
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SAP Simple Finance Description
What is SAP FICO training?
Online SAP training is an exact replica of the physical classroom, and as a learner, you can attend the sessions from the comfort of your home. Further, you can discuss your queries with like-minded learners. At Intellipaat, we upload each of the live sessions to the LMS within 3 hours. Thus, you can go through it to revise your learnings.
This online training led by SAP FICO instructors can help you start your career effectively.
What will you learn in this online SAP Simple Finance training?
- S/4HANA Finance key functional areas
- SAP Fiori fitting into the context
- Controlling profitability analysis (CO-PA) in SAP
- Universal Journal in SAP S/4HANA
- General ledger accounting with S/4HANA
- Integrating material management and accounting
- Complete business planning with S/4HANA Finance
Who should take up this online SAP FICO training?
Accounting Professionals, Business Analysts and Consultants, Business Process Architects and Owners, Project Managers, and Business Executives can take up this SAP FICO training online.
What are the prerequisites for learning the SAP FICO course?
There are no prerequisites for taking up this SAP FICO training. However, a basic knowledge of financial management and business processes is beneficial.
Why should you go for the SAP FICO training course?
Sieve Software is offering an industry-designed SAP FICO training, which provides a comprehensive set of financial management and accounting solutions. You will learn analysis and financial planning, enterprise risk, and accounting solutions that can be used for on-premise or cloud systems. In this SAP FICO course you will also learn new concepts of integrated business planning for finance and will thus clear the most sought-after finance certification from S/4HANA Finance. This will pave the way for grabbing high-paying jobs in the financial and accounting domains.
Is SAP FICO a good career?
Absolutely. You will be amazed to know that approximately half a million companies worldwide use SAP as a central ERP tool. Therefore, each of them needs a certified SAP consultant.
SAP FICO is one of the most important modules and consists of the financial (FI) and cost control (CO) modules in the SAP ERP. There are currently thousands of vacancies in the region worldwide. Now, to ensure a smooth transition, you should choose a certification program that holds merits across the industry.
What is SAP FICO used for?
The “FI” module is mainly used for internal and external reporting and is mainly used to record all financial transactions recorded by the company and produce the correct annual accounts at the end of the transaction period. The “CO” module is dedicated to the coordination, monitoring, execution, and optimization of processes in an organization. Together FICO helps stakeholders make informed decisions.
How does SAP FICO work?
FICO is a core functional component of SAP that companies use to process and optimize their financial/business data. FICO’s main intent is to support companies in creating and managing financial statements for analysis and reporting, as well as effective business plans and decisions. SAP FICO consists of financial (FI) and control (CO) modules that combine financial reporting, accounting, and cost planning and monitoring functions.
How much does it cost for SAP FICO certification?
The SAP FICO certification costs approximately US$769 for the online course while the self-paced course costs about US$280. The online training sessions are conducted by subject matter experts (SMEs) from top MNCs in India and the US. There is an online interactive platform available in the training sessions that you can use to clear your doubts. Also, if you have trouble catching up with the lectures regularly or are unable to attend the online lectures then, you can opt for the self-paced training wherein you will receive pre-recorded video lectures and courseware that you can access throughout a lifetime. With the help of this training process, you can easily complete your certification at your own pace.
What is the role of SAP FICO consultant?
Global demand for this role is growing, and everyone who has obtained the industry-recognized FICO certification can immediately find a great job! The only caveat is that as an aspirant you need to enrol yourself in an end-to-end SAP FICO course.
The main job roles and responsibilities of an SAP FICO Consultant include:
- Understand the business requirement
- Prepare a Blue Print for the project
- Implement the project
- Validate the changes in the report
- Configure A/R. A/P, G/L, and Asset Accounting
- Sort the queries of end-users
- Enhance SAP based on the requirements of the end-user
How do I become an SAP FICO consultant?
The first and foremost thing that you need to do is take an SAP FICO training from a reputed institute. Then execute a few industry-specific projects to establish your learnings. This way, you can effortlessly start your career.
To become an SAP Consultant, you also need to have the following skills:
- Good analytical and problem-solving skills
- Expert in SAP FI and SAP CO modules
- Understanding of Master Data Management (MDM)
- Knowledge of GL, AP, AR, and Asset accounts
What is the salary of an SAP FICO consultant?
The average salary of an entry-level SAP FICO Consultant in the US is about $83,974 per annum. Based on experience, this salary might rise to $118,000 per annum.
In India, the average income of an SAP FICO Consultant is approximately ₹622,049 per year. With experience, this salary may also increase up to ₹1,207,000 per year.
SAP Simple Finance Course Curriculum
S4 HANA architecture, deployment strategy, need of Universal Journal, and SAP Fiori.
Company, company code, business area, profit centers, plant, storage location, sales organization, distribution channel, division-sales area, sales office, shipping points, purchase organization, and purchase group.
GL masters, cost elements, business partners, customer masters, vendor masters, asset masters, material types, material groups, and material masters with all views.
Fiscal year variant, posting period variant, field status variant, document settings, classic GL, new GL accounting, extension ledgers, concept of leading and non-leading ledgers, concept of Universal Journal (ACDOCA), parallel accounting, document splitting, central currency vs ECC settings, easy access steps (business process), ledgers postings, document posting and analysis, sample documents and reference documents, and tax on sale/purchase.
Settings for material management, automatic account determinations, vendor account group creation, outgoing payments, manual payments, automatic payment program, payment methods, payment terms, cash discount configuration, business process, purchase order creation, goods receipts, invoice receipts, and invoice posting in FI.
Settings for SD, account determinations, sales order creation, delivery to customers, billing documents (SD invoice), sales invoice in FI, and incoming payments.
Organizational structure, valuation, integration with general ledgers, technical clearing account integration vs ECC, asset under construction, and business process.
General controlling, cost element accounting, cost center accounting, period end closing activities, and internal order accounting.
Maintaining characteristics, value fields, data structure, operating concern, valuation strategies, and costing key assignments, assigning CCS to value fields, maintaining variance PA transfer structure, SD condition types mapping to CO-PA, SD quantities to CO-PA, and transfer structure from FI and MM to CO-PA, and creating actual line item reports and profitability reports.
Costing variant for standard cost estimation, PP settings required for product costing, BOM creation, work center creation, routing creation, maintaining quantity structure, executing cost estimate with quantity structure, and marking and releasing cost in material master.
Balance sheet and profit loss account, chart of accounts, trail balance, general ledger, user manual, vendor list, vendor-wise purchases, age-wise analysis of vendors, down payment report of vendors, vendor ledger, due date forecast of vendors, customer list, customer-wise sales, age-wise analysis of customers, department-wise and machine-wise assets details—gross block, accumulated depreciation, and net block—depreciation forecast, depreciation posting period-wise, schedule V assets report, assets addition report, sale report, profit/loss on sale of assets report, assets transfer reports, and CO-PA report.
Introduction to SAP S/4HANA and outlining the conversion journey.
Explaining the migration process, analyzing the migration process per system starting point, preparing for migration to SAP S/4HANA, preparing for business partner adoption, and describing the SAP S/4HANA installation phase.
General ledger accounting and new asset accounting configuration, new asset accounting migration, account-based CO-PA controlling customization; migration material ledger, migration of house bank accounts, and migration of credit management preparation.
Migrating to the Universal Journal, finalizing migration and post-processing business partners, and performing post-migration activities.
Explaining business downtime reduction with near-zero downtime (NZDT), explaining the results of migration, and using new asset accounting.
Understanding the new architecture of management accounting in SAP S/4HANA, managing the organizational structure, analyzing the reporting options, introducing SAP Fiori, and understanding the new concept of cost elements in S/ 4HANA Finance.
Understanding CO Integration with procurement, understanding CO Integration with sales, understanding CO Integration with production, understanding parallel valuation and transfer pricing, understanding event-based revenue recognition for projects, understanding attributed profitability segments, and planning in management accounting.
Analyzing the central finance option (optional) and getting an overview of product lifecycle costing (optional).
Asset accounting, travel management, important terminologies, and SAP Financial supply chain management.
Features of FSCM, portfolio analyzer, SAP Controlling, features of CO, internal orders, business process associated with the SAP CO, and the subcomponents of the SAP Controlling module.