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Rolla Academy chances of getting a job with an SAP FICO certification in Dubai SAP FICO stands for “Financial Accounting” and “Controlling”. SAP FI and CO are core modules in SAP deeply integrated with each other. The goal is to help business enterprises to maintain and generate accurate financial statements to aid in effective decision making and strategic purposes. SAP FI deals with external accounting whereas SAP CO deals with internal accounting.

SAP FINANCIAL ACCOUNTING(FI) SAP Fi module records and maintains financial transaction of a company/organization in real time on a daily basis and generates financial statements like balance sheets, Profit & Loss Accounts(P&L) for external reporting. SAP FI is made up of sub modules which are Account Receivables, Account Payables, Asset Accounting, General ledger Accounting and Bank Accounting. All these sub modules are interlinked and integrated with each other. At any point of time, you can extract a trial balance which would always be balanced because of the integration of each module with one another. Let us understand each of the sub modules.

General Ledger Accounting All the postings that are done in SAP are recorded through general ledger accounts. A set of all the general ledger accounts used by a company is called a chart of accounts. These accounts are used for preparation of financial statements.

Account Receivables A sub module which manages all customer accounts and captures every single transaction with the customers. Separate accounts are maintained for each customer and when transactions take place, reconciliation accounts in general ledger are updated with the figures in real time.Transactions in


accounts receivables include invoice posting, credit memo posting, down payments, invoice payment, dunning and executing customer reports.

Account Payables Account Payables is a sub module for the vendors. It captures all transactions with the vendors and manages vendor accounts. Separate vendor accounts are maintained and when a transaction is posted in a customer account, reconciliation accounts in general ledger are updated with the figures in real time.Transactions in accounts payables include invoice posting, credit memo posting, down payments, invoice payment, automatic payment program and executing vendor reports.

Asset Accounting Asset accounting manages all transactions realted to assets for an entity. When transactions are posted in asset accounts ,reconciliation accounts in general ledger are updated in real time. Transactions in asset accounting include asset acquisition, asset retirement, asset sale, asset transfer, asset revaluation and asset depreciation.

Bank Accounting Bank accounting captures all transactions with the banks. Bank reconciliation is done to reconcile all transactions recorded on bank statements comparing them to transactions in the system.

SAP CONTROLLING(CO) The controlling(CO) module of SAP provides valuable data and information to the decision makers and managers to understand the financial situation of the organization and see the utilization of financial resources. Based on the information provided by CO module, they make the strategic decisions. It is not restricted by any legal requirements as in the case of FI module and is an invaluable internal accounting tool. Similar to FI, Controlling module of SAP has its own sub modules which are Cost Centre, Product Costing, Profit Centre and Profit Analysis. Let us briefly understand each sub module:

Cost Centre: It includes all the organizational elements which are responsible for maintaining all the expenses that occur within an organization. Some common examples of a cost centre are work centres, different departments etc. Product Costing: The purpose of this sub module is to project the costs involved for producing a product or service. Profit Centre: All the profits of the organization are recorded and maintained by the profit centre. Profit Analysis: Based on the profits generated by an organization, its analysis and other projections are done by the Profit Analysis sub module.

SAP FICO INTEGRATION The modules of SAP FICO can be integrated with the other SAP modules which enables automatic updates across all transactions. SAP FICO modules can be integrated with other SAP modules of Sales & Distribution, Material management, Human Resource management, Production Planning, CRM and more.

Rolla Academy chances of getting a job with an SAP FICO certification in Dubai  

Rolla Academy chances of getting a job with an sap fico certification in dubai, sap course, sap fico training in dubai, sap fico course, sa...

Rolla Academy chances of getting a job with an SAP FICO certification in Dubai  

Rolla Academy chances of getting a job with an sap fico certification in dubai, sap course, sap fico training in dubai, sap fico course, sa...

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