SAP Financial and Control

Nousheen Karimi
Jason Burgoyne
Abraham Aviles
Amna Nadeem
Matthew Partridge

Table of Contents
1. Executive Summary
2. Project Objective
3. Introduction of the topic
4. Background to SAP FI/CO
5. FI/CO Description
6. Findings over FI/CO
7. Conclusion
8. References
9. Appendix

SAP FICO is the Financial Accounting and Controlling Module of the SAP software that helps
businesses conduct financial transactions, accounting, and reporting activities in a smooth
fashion. Its an easy configuration tool and is compatible with other accounting softwares and
user friendly features. This makes SAP FICO very popular in organizations across industry
domains. Whether an employee belongs to the manufacturing sector, banking or finance
company, or healthcare or media services, handling and managing financial accounts is the most
important part of the business. SAP FICO enables the company employees to work efficiently
with highly accurate data and processes to reach company organizational goals.
The FICO in SAP FICO stands for Financial Accounting (FI) and Controlling (CO). These
modules of ERP solution have been designed to meet all accounting and reporting requirements.
With just a click of a button, an employee can gather information, analyze and prepare financial
statements and reports, and generate charts that can be presented to the management with greater
accuracy and relevance. It is what most companies turn to that helps carry out all the accounting
and controlling responsibilities in a timely manner. Both the FI and CO modules store large
amounts of financial data and required tools that assist in performing the various transactions,
generate helpful reports, and maintain a highly reliable financial system.
While recent years of financial stress and uneven markets have decayed the growth in technology
budgets, risk and compliance continues as a priority with credit risk analytics and infrastructure
investments growing at above average rates. In fact, the financial industry as a whole will spend
$6.57 billion on software and IT services for credit risk management in 2014, representing
17.9% of the total investments on all risk management software and services spending.
According to Li-May Chew and Michael Versace, members of the Worldwide Risk Management
Strategies team at IDC Insights, Credit risk is the largest, most elementary risk faced by

financial institutions. SAP FICO can serve as a tool for these institutions to solve most of the
risks involved in their operations.
The SAP FICO application is more popular as compared to other financial software based on
platforms like Oracle or BAAN because of its easy compatibility with other systems and quick
configuration features. Also, because of its integration with other important modules like
Production, Inventory, or HR, SAP FICO helps save a lot of employees productivity time.
With the many technological advancements and software revolutions, it is imperative for an
organization to accelerate its business growth with the help of efficient business solutions such as
the SAP ERP Software. For employees that are constantly pressed for time with copious amounts
of accounting and controlling tasks and looking for an efficient software system, SAP FICO is
the answer to their time crunched accounting problems.
Although there are several advantages of SAP FICO, some of the important advantages that the
implementation of SAP FICO bring to an organization include enabling smooth financial
accounting and controlling functions, providing quick, reliable, and relevant data in order to meet
external reporting tasks, and helping to track and monitor data of different cost and profit centers
situated across the globe from one single platform. Now that companies have expand to a global
market, it is vital for them to be able to make quick and proper management decisions, respond
to any last minute changes of business requirements promptly, and have a reliable business
strategy. SAP FICO helps with all of the above, and helps ensure that a company is working at
its full potential within the global economy. It simplifies processes such as scheduling, financial
consolidation, reporting, collaboration with other departments and allows the employees to build
communication within the company. The SAP FICO contains several features that make it truly
versatile and easily accessible by employees in any department.

Being equipped with skills in SAP FICO work in the field of financial and managerial
accounting will get one ahead in a career by efficiently completing tasks assigned in a
management position. SAP FI/CO training not only enhances professional capabilities but also
gives a wider picture of business operations and strategic processes. There are several
certification programs and training modules that can help master the SAP FICO application in a
short duration of time. Training increases knowledge on the latest trends in the financial world,
equips one with the latest software tools to manage financial activities, helps to improve
financial processes, and creates a better coordination between various functions across the
workplace.

References
IDC Financial, Insights. "IDC Financial Insights Evaluates Credit Risk Analytics Solutions in
New IDC MarketScape." Business Wire (English) 10: Regional Business News. Web. 14 Nov.
2014.
https://www.udemy.com/blog/sap-fico/
https://www.udemy.com/blog/sap-fico/
http://www.sapficoonlinetraining.com/sap-fico-history/
https://www.udemy.com/blog/sap-fico/
http://www.sap.com/corporate-en/about/our-company/history/1972-1981.html
http://www.sapficoonlinetraining.com/sap-fico-history/