SAP FICO is a component in SAP which is very widely used. In this tutorial we are learning what SAP FICO is, its certification and training, and also its tutorials and its pdf training materials.
SAP FICO is a component in SAP which is a short form of financial conditions. In the real sense, SAP FICO does not refer to this component. Normally, in SAP we refer to two modules among SAP, which are SAP financial accounting module, known as FI module and the other is SAP controlling module, known as SAP CO module. This SAP CO module is also called as managing accounting. These two modules, SAP accounting module and managing accounting, of SAP are tightly integrated with each other in SAP. So these two modules were referred as a single module by the users from the early days. Thus the SAP FICO evolved even they are two separate modules. By using the term SAP FICO we refer it as FICO module though in SAP it is two modules, but as said earlier there is a component in SAP known as FICO.
Earlier there was a single certification known as FICO certification and the consultants in it or those who take this certification, were known as SAP FICO consultants. Later the certifications were split to give two separate certifications of FI certification and CO certification. There is no certification named FICO certification now. Even though separated, those who have taken the separate certifications now call themselves as FICO consultants.
Now let us look into what is financial accounting module and management accounting module.
Financial Accounting module or SAP FI module
As the name refers, FI module is that deals with financial accounting and the related functionalities of the company. We will just look into the important sub-components of this functionality.
- Accounts receivable
- Accounts payable
- Asset accounting
- General ledger accounting
- Bank accounting
- Funds management
- Travel management
- Lease accounting
- Retail ledger
- Special purpose ledger
- Travel management
There are even more sub-components in the FI module but the above mentioned are the main sub-components.
Controlling module/ Management accounting module or SAP CO module
Even though the real name is controlling module, it is also and mainly referred as management accounting. Like the above, we shall discuss the sub-components of this functionality.
- Cost element accounting
- Cost centre accounting
- Internal orders
- Activity based costing
- Product cost controlling
- Profitability analysis
- Over-head cost controlling
- Profit centre accounting
These are the main sub-components of CO module, even though there are other sub-components under the SAP controlling module.
SAP FICO certification
We have so far discussed about the modules in SAP FICO, and the main functionalities under them. Now we shall look in to little general and quick information on SAP FICO certification. As we said earlier, in older days FI and CO certification were together, whereas now the certifications of FI and CO are no more together. Both have different certifications as to FI and CO.
Firstly we shall look into FI certification. SAP certified application associate – Financial accounting with SAP ERP6.0 EHP 7. This is the title of FI certification. For more details on this, please visit the following link of SAP official website:
In SAP FI certification, there will be generally 80 questions. This exam will be usually of 180 minutes duration. The weightage of marks is as follows: 12% or more of general ledger accounting, asset accounting 12% or more, accounts payable 12% or more, financial closing 8-12%, SAP financial basics 8-12%, reporting of financial accounting 8-12%, accounts receivable 8-12% are the allocation of marks for the FI certification. We do list these for helping those who prepares for this certification.
SAP CO certification
The title of CO certification is SAP certified application associate- SAP S4 HANA for management accounting associates.
Now we shall look in to the weightage of marks for CO certification. For more details on this, please visit the following link of SAP official website:
In SAP CO certification, there will be generally 80 questions. This exam will be usually of 180 minutes duration. The weightage of marks is as follows: cost center accounting 12% or more, product cost planning 12% or more, profitability analysis 12% or more, cost object controlling 12%, internal orders 8-12%, organizational assignment and process integration 8-12%, and few questions on profit center accounting are the allocation of marks for the CO certification.
Now summing up, we have discussed about what SAP FI and CO are, what its modules are, its functionalities, its certifications etc. for further information and training, for its study resources, we have few study materials:
SAP FICO tutorial and training materials
The following links will help you to have the tutorials and training materials of SAP FICO.
FICO – FI module Training Resources
- SAP FI Module Tutorial
- Accounts Receivable and Payable
- Asset Accounting
- G/L Accounting
- Bank Accounting ( FI-BL )
- Consolidation ( FI-LC ) * Depreciated
- Funds Management ( FI-FM )
- Travel Management
- SAP FI Additional Functions
- SAP FI Contract Accounts Receivable and Payable
- SAP FI Generic Contract Accounts Receivable and Payable
- SAP FI Lease Accounting
- SAP FI Localization
- SAP FI Retail Ledger
- SAP FI Special Purpose Ledger
- SAP FI Travel Management
FICO – CO Module Training Resources