SAP FICO Online Training

Introduction

Definition

SAP which stands for Systems Applications and Products is an entire suite of computer applications which are related to business computer applications. SAP FI/CO is one such application which deals in the Finance and Control aspects of SAP. One of the most financially economical and convenient modes of training for this application is through online training. Here we discuss the benefits of online SAP FI/CO training.

Benefits of Online SAP FICO Training

Since this particular application is rather complicated for a person to learn on their own, the skills needed are to be imparted by a professional. If you register for online training, the advantages as compared with other modes of training are as follows:

  • » Easy Access to Course Material
  • » Flexible Hours
  • » Access to Specialists at all Times
  • » Zero disturbance from External Factors
  • » Most Cost-Effective

SAP FICO Training Course Details

The course duration is usually 30 to 40 hours but it is normally a part time course which means that the maximum hours spent on training will be 2 to 3 hours a day. The course would normally be spread over 3 to 4 weeks. The below mentioned topics are covered in the course:

  • » Introduction to SAP R/3
  • » Financial Accounting Basic Settings
  • » General Ledger Accounting
  • » Accounts Payable
  • » Accounts Receivable
  • » Asset Accounting
  • » New General Ledger Accounting
  • » Reports
  • » Different Aspects of Controlling
  • » Elements of Product Costing
  • » Integration

Price Detail

At the very outset it may be pointed out that there are many free training modules available or at an extremely low cost. However, you are advised to exercise extreme caution while availing of such modules as they may not be 100% reliable. If you want a reliable training module, you would have to pay from $600 to $1,000 but this could be higher or lower which would largely depend on from where you get the training from.

How to choose best online training center?

The most obvious source of finding the best online training center is the internet. Once you have located a likely site, contact them for further details. You can then register, pay the money and start your training. A good idea would be to try to get a free trial version which will give you a good idea of what the real thing is like.

Course Content

Introduction 

  • » Introduction to ERP Systems 
  • » Introduction to SAP

Enterprise structure

  • » Defining company
  • » Configuring company code
  • » Defining business area 
  • » Maintaining consolidation business area
  • » Defining credit control area 
  • » Assigning company code to company
  • » Assigning company code to credit control area
  • » Assigning business area to consolidation business area

Financial accounting global settings

  • » Maintaining fiscal year variant 
  • » Assigning fiscal year variant to company code
  • » Defining posting periods
  • » Defining open and close posting periods
  • » Assigning variant to company code
  • » document types
  • » defining document number ranges
  • » Defining posting keys
  • » Defining field status variant
  • » Assigning field status variant to company code
  • » Defining tolerance groups for employees

General ledger accounting

  • » Defining chart of accounts
  • » Assigning chart of accounts to company code
  • » Defining account groups
  • » Defining retained earnings account
  • » Creating GL accounts
  • » Postings
  • » Parking the document
  • » Sample document
  • » Reversal entries
  • » Recurring document

Accounts Receivable

  • » Creating customer groups
  • » Creating number ranges
  • » Assigning number ranges to customer groups
  • » Creating main ledger
  • » Creating sales account
  • » Creating customer
  • » Raising sales invoice
  • » Incoming payments
  • » Cash discounts
  • » Down payment
  • » Interest calculation
  • » Credit memo
  • » Dunning

Accounts payable

  • » Creating vendor groups
  • » Creating vendor ranges
  • » Creating ranges to vendor groups
  • » Creating main ledger
  • » Creating material account
  • » Creating vendor
  • » Raising vendor invoice
  • » Outgoing payments
  • » Cash discounts
  • » Interest calculation
  • » Down payment
  • » Debit memo

Bank Accounts

  • » Creating house bank
  • » Configuring petty cash journal
  • » Configuring automatic payment to vendors
  • » Creating check lots
  • » Configuring bank statement

Bill of Exchange

  • » Post bill of exchange
  • » Present bill of exchange
  • » Discounting bill of exchange
  • »

Withholding tax 

  • » Configuring TDS for vendors
  • » Raising vendor invoice
  • » Calculating TDS

Vat calculations 

  • » Creating GL accounts of input tax output tax and sales tax
  • » Configuration for tax calculation 
  • » Postings
  • » Foreign currency

Asset Accounting

  • » Copying chart of depreciation
  • » Assigning chart of depreciation to company code
  • » Assigning input tax and output tax indicators
  • » Specify account determination
  • » Create screen layout rules
  • » Creating asset classes
  • » Creating depreciation key 
  • » Creating on asset
  • » Acquisition of asset
  • » Running depreciation 
  • » Sale of asset
  • » Transfer of asset
  • » Scraping of an asset

New GL Accounts

  • » Configuring new GL 
  • » Configuring multiple ledger
  • » Document splitting 
  • » Configuring leading and non leading ledger

Financial statement versions

  • » Configuring trading and P&L & Balance sheet

Closing down procedures

Integration 

  • » Integration with FI & MM
  • » Integration with FI & SD 
  • » Integration with FI & HR

Reports

  • » Various reports of customers vendors and assets

Controlling

General Controlling

  • » Maintaining control area settings
  • » Maintaining number ranges for controlling documents
  • » Maintain versions
  • » Defining active modules

Cost Element Accounting

  • » Creating various types of cost elements
  • » Creating primary cost element
  • » Creating secondary cost element
  • » Defining reconciliation ledger

Cost center Accounting

  • » Creating cost centre hierarchy
  • » Creating cost centre
  • » Creating activity types
  • » Creating statistical key figures
  • » Creating report painter
  • » Planning for secondary cost elements
  • » Reports of cost centers

Internal Orders

  • » Configuring internal orders
  • » Planning for internal orders
  • » Reports of internal orders

Profit Center Accounting

  • » Creating profit center
  • » Creating dummy profit center
  • » Creating profit center hierarchy
  • » Assigning profit center to cost center

Product costing

  • » Configuration of product costing 
  • » Maintain overhead cost elements
  • » Maintain overhead keys
  • » Define cost component structure
  • » Reports

Controlling profitability analysis

  • » Configuring basic settings for COPA

ASAP Methodology

Interview Questions

Below are some of SAP FICO interview questions.

  • » At what level are the customer and vendor code stored in SAP?
  • » At what level are the FI-MM, FI-SD account determination settings ?
  • » Can we change the reco account in the vendor master? If so, and how? What is the impact on the old balance?
  • » Can you assign multiple G/L accounts in the Purchase order for the same line item?
  • » Do you require to configure additional ledger for parallel currencies?
  • » Explain the entire process of Invoice verification from GR to Invoice verification in SAP with accounting entries?
  • » Explain the organizational assignment in the controlling module?
  • » Explain the organizational assignment in the PA module?
  • » From where does the characteristics come from?
  • » From where does the values come from into PA?
  • » How are Capital WIP and Assets accounted for in SAP?
  • » How are depreciation keys defined?
  • » How are input and output taxes taken care of in SAP ?
  • » How are Tolerances for Invoice verification defined?
  • » How are Vendor Invoice payments made?
  • » How can the default settings be maintained for cost elements per company code?
  • » How do you configure check deposit?
  • » How do you configure Electronic bank statement?
  • » How do you configure FI-SD account determination?
  • » How do you configure the assignment of variances from product costing to COPA module ?
  • » How do you configure the automatic payment program?
  • » How do you go about configuring for the sales order costing ?
  • » How do you go about configuring material ledger?
  • » How do you go about setting the FI MM account determination ?
  • » How do you maintain the number range in Production environment? By creating in Production or by transport?
  • » How does posting happen in  MM (Materials Management)  during special periods?
  • » How does primary costs get picked up from cost center into the cost component structure?
  • » How does SAP go about costing a Product having multiple Bill of materials within it?
  • » How does the cost and revenue flow to the Profit Center?
  • » How is Bank Reconciliation handled in SAP?
  • » How is cost center accounting related to profit center?
  • » How many Chart of Accounts can a Company code have?
  • » How many currencies can be configured for a company code?
  • » How many numbers of line items in one single entry you can have?
  • » If there are two company codes with different chart of accounts how can you consolidate their activities?
  • » Important Terminologies in Product Costing to remember:
  • » In customizing " company code productive " means what? What it denotes?
  • » Is it possible to default certain values for particular fields? For e.g. company code.
  • » Is it possible to have depreciation calculated to the day?
  • » Is it possible to maintain plant wise different GL codes?
  • » Should secondary cost elements be maintained in the 3KEH table?
  • » What are characteristics and Value Fields?
  • » What are cost objects?
  • » What are Planned delivery costs and Unplanned delivery costs? What is the basis on which the apportionment is done?
  • » What are the configuration settings for calculating WIP in SAP?
  • » What are the configuration settings maintained in the costing variant ?
  • » What are the Customizing prerequisites for document clearing?
  • » What are the different scenarios under which a Business Area or a Profit Center may be defined?
  • » What are the options in SAP when it comes to Fiscal years?
  • » What are the other activities in Cost center?
  • » What are the other important activities in Profit Center?
  • » What are the precautions to be taken while maintaining the 3KEH table for profit center accounting?
  • » What are the problems faced when a Business area is configured?
  • » What are the problems faced when a material ledger is activated?
  • » What are the various organizational assignments to a company code?
  • » What are Validations and Substitutions ?
  • » What do you mean by Invoice parking, Invoice saving and Invoice confirmation?
  • » What do you mean by primary cost component split ?
  • » What does the concept of cost roll up mean in product costing context?
  • » What is a Account group and where all is it used?
  • » What is a cost center group?
  • » What is a cost element group?
  • » What is a Financial Statement Version?
  • » What is a settlement profile and why is it needed?
  • » What is a year dependent fiscal year variant ?
  • » What is characteristic Derivation in Profitability Analysis Module ?
  • » What is Credit memo and subsequent debit in Logistics Invoice verification?
  • » What is primary Cost element and secondary cost element?in SAP for the specific G/L accounts.
  • » What is the basic purpose of creating a Profit Center?
  • » What is the clearing basis for check deposit?
  • » What is the difference between Distribution and Assessment?
  • » What is the functionality of the PA module?
  • » What is the procedure in SAP for Initial stock uploading? Mention the accounting entries also.
  • » What is the purpose of a "Document type" in SAP?
  • » What is the purpose of defining Internal orders.?
  • » What is the relation between a Controlling Areas and a Company code?
  • » What is Transfer or Allocation structure?
  • » What is Valuation and Account assignment in SAP?
  • » What is Valuation Class?
  • » What precautions have to be taken while switching on the material ledger for a plant?
  • » What steps do you have to take into account to ensure that integration into the general ledger for the depreciation posting run works?
  • » Where do you attach the check payment form?

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