Sunday, 8 January 2017

SAP fico over view

           sap fico
SAP stands for systems, applications, and products in data processing
                        The goal of sap is to give customers the ability to interact with a common corporate databases.there is a sap R/3 software which manages all the modules.
sap fico
Fico means fi-finance and co-controlling it helps in the development of a business  there are many financial sections that are included into sap they are
--> general ledger
--> account payable
--> account receivable
The benefits of this is when the products are sold and payments are made then entries are automatically updated to the system in real time
Co-controlling means it handles all the flow of costs and the transactions that take place in the company.
in this, there are various segments involved like
--> product costing
--> cost center accounting
--> profitability analysis
There is a large demand for sap in the market now-a-days
The growth for this position and for the development of this software is increasing yearly
There are many job opportunities in this there will be surely a great future with sap
The average payscale in India for a sap fico worker is 590,383 pa
In the USA starting salary is 50,000-70,000 USD pa
Sap fico project manager gets 1,40,000 to 1,80,000 USD per annum
==> Financial account basic settings
==> General ledger
==> Account payable
==> Account receivable
==> Asset accounting
==> Reports
==> Basic settings of controlling
==> Cost center accounting
==> Internal orders
==> Profit center accounting
==> Profitability analysis
This is the overview about sap fico the growth and demand for this is more in the industry it will be helpfull for all the professionals and also for the freshers