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SAP FICO

SAP FICO

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12/22/2012

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SAP FICO
is also mentioned as SAP FI/CO, where SAP FI stands for Financial accounting andSAP CO is Controlling (Management accounting). SAP FICO is one of the modules of SAP andis usually the first module to be implemented in a client's site.This module is used to monitor and review the financial situation of a company. Using SAPFICO, you can monitor the inside operations by planning and creating reports and quickly findsolutions for accounting requirements.For pursuing a career as a technical or functional SAP FICO consultant, you will have to knowmore about finance and the jargon's involved in a financial domain. If you have worked as an ITconsultant in a financial domain, you will be preferred much for a SAP FICO consultant position. Learn about accounts payable, accounts receivable and general ledger, procedures to post accounts, close books & prepare financial statements and balance sheet etc.It is also helpful if you are familiar with other modules in SAP, especially SAP ABAP since it isthe most essential.Modules and components of SAP FICOThese are the sub modules of the SAP FI:AA -- Asset AccountingAP -- Accounts PayableAR -- Accounts ReceivableBL -- Bank AccountingFM -- Funds ManagementGL -- General Ledger AccountingLC -- Legal ConsolidationsSL -- Special Purpose Ledger TM -- Travel ManagementControlling (CO), the second part of FI/CO means "Managerial Accounting". There are threeorganizational elements in CO which are Operating Concern, Controlling Area, and CostCenters.The following are the components of the SAP Controlling module:Cost Element AccountingCost ControllingCost Center AccountingInternal OrdersActivity-Based CostingProduct Cost ControllingProfitability AnalysisProfit Center Accounting
 
 
careers@defiance-tech.com
 
Q1.
T
he
 
organizational
u
nits
 
of 
F
inancial
A
cco
u
nting
 
are
u
sed
 
for 
 
external
 
reporting
 
p
u
rposes,
 
that
 
is,
 
they
 
u
lfil
 
req
u
irements
 
that
 
yo
u
bu
siness
 
is
 
s
ubj
ect
 
to
 
from
 
external
 
parties,
 
for 
 
example,
 
legal
 
reg
u
lations.
 W
hich
 
of 
 
the
 
following
O
rganizational
u
nits
 
are
 
mandatory
 
in
 
an
ERP
system
 
with
FI?(M
ore
 
than
 
one
 
answer 
 
is
 
correct)
  A
.
C
lient
 B
.
Bu
siness
A
rea
 C
.
C
ompany
 
code
 D
.
C
ompany
 
Answer:
 A
,
CY
o
u
create
 
yo
u
 
company-specific
 
organizational
 
str 
u
ct
u
re
 
in
 
the
SAP S
ystem
b
y
 
defining
 
the
 
organizational
u
nits
 
and
 
making
 
the
b
asic
 
settings.
D
efining
 
organizational
u
nits
 
for 
 F
inancial
A
cco
u
nting
 
is
 
o
b
ligatory,
 
that
 
is,
 
yo
u
have
 
to
 
define
 
these
u
nits
 
in
 
order 
 
to
b
e
 
a
b
le
 
to
 
implement
 
the
F
inancial
A
cco
u
nting
 
component.
 
Organizational unit Definition
Client Obligatory 
C
ompany
O
ptional
 
Company code Obligatory 
Bu
siness
 
area
O
ptional
  A
part
 
from
 
this,
 
there
 
are
 
certain
B
asic
 
settings
 
that
 
are
 
mandatory
 
as
 
well.
T
hese
 
are:
 C
hart
 
of 
 
acco
u
nts
 F
iscal
 
year 
 Cu
rrencies
 
Q2
.
Y
o
u
can
 
config
u
re
 
different
 
types
 
of 
C
hart
 
of 
A
cco
u
nts
 
in
 
the
ERP
system.
S
ome
 
of 
 
these
 
are:
  A
.
O
perating
 
chart
 
of 
 
acco
u
nts
 B
.
G
ro
u
p
 
chart
 
of 
 
acco
u
nts
 C
.
C
o
u
ntry-specific
 
chart
 
of 
 
acco
u
nts
 
 
D
.
P
lant
 
specific
 
chart
 
of 
 
acco
u
nts
 
Answer:
 A
,
B
,
CC
harts
 
of 
 
acco
u
nts
 
can
 
have
 
three
 
different
 
u
nctions
 
in
 
the
 
system:
 
‡ Operating chart of accounts
T
he
 
operating
 
chart
 
of 
 
acco
u
nts
 
contains
 
the
G/L
acco
u
nts
 
that
 
yo
u u
se
 
for 
 
posting
 
in
 
yo
u
 
company
 
code
 
d
u
ring
 
daily
 
activities.
F
inancial
A
cco
u
nting
 
and
C
ontrolling
b
oth
u
se
 
this
 
chart
 
of 
 
acco
u
nts.
 Y
o
u
have
 
to
 
assign
 
an
 
operating
 
chart
 
of 
 
acco
u
nts
 
to
 
a
 
company
 
code.
 
‡ Group chart of accounts
T
he
 
gro
u
p
 
chart
 
of 
 
acco
u
nts
 
contains
 
the
G/L
acco
u
nts
 
that
 
are
u
sed
b
y
 
the
 
entire
 
corporate
 
gro
u
p.
T
his
 
allows
 
the
 
company
 
to
 
provide
 
reports
 
for 
 
the
 
entire
 
corporate
 
gro
u
p.
 T
he
 
assigning
 
of 
 
an
 
corporate
 
gro
u
p
 
chart
 
of 
 
acco
u
nts
 
to
 
a
 
company
 
code
 
is
 
optional.
 
‡ Country-specific chart of accounts
T
he
 
co
u
ntry-specific
 
chart
 
of 
 
acco
u
nts
 
contains
 
the
G/L
acco
u
nts
 
needed
 
to
 
meet
 
the
 
co
u
ntry's
 
legal
 
req
u
irements.
T
his
 
allows
 
yo
u
to
 
provide
 
statements
 
for 
 
the
 
co
u
ntry's
 
legal
 
req
u
irements.
 T
he
 
assigning
 
of 
 
an
 
co
u
ntry-specific
 
chart
 
of 
 
acco
u
nts
 
to
 
a
 
company
 
code
 
is
 
optional.
 
Q3.
T
he
 
company
 
code,
bu
siness
 
area
 
and
 
controlling
 
area
 
organizational
u
nits
 
can
b
e
 
com
b
ined
 
in
 
a
 
n
u
m
b
er 
 
of 
 
ways.
U
sing
 
these
 
com
b
inations
 
yo
u
can
 
represent
 
organizations
 
with
 
different
 
str 
u
ct
u
res.
W
hich
 
of 
 
the
 
following
 
are
 
valid
 
com
b
inations
? A
.
O
ne
C
ompany
C
ode
 
can
b
e
 
assigned
 
to
 
m
u
ltiple
C
ontrolling
 
areas
 B
.
O
ne
C
ontrolling
 
area
 
can
b
e
 
assigned
 
to
 
m
u
ltiple
 
company
 
codes
 C
.
O
ne
bu
siness
 
area
 
can
b
e
 
assigned
 
to
 
m
u
ltiple
 
company
 
codes
 D
.
O
ne
 
company
 
code
 
can
b
e
 
assigned
 
to
 
m
u
ltiple
bu
siness
 
areas
 
Answer:
B
,
C
,
D‡ O
ne
C
ontrolling
A
rea
 
is
A
ssigned
 
to
O
ne
C
ompany
C
ode
 I
n
 
this
 
example,
 
the
 
financial
 
acco
u
nting
 
and
 
cost
 
acco
u
nting
 
views
 
of 
 
the
 
organization
 
are
 
identical.
 

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