SAP FICO stands for Finance and Controlling, and SAP BPC stands for Business Planning and Consolidation. This course bundles together the two modules together seamlessly.

This SAP Finance combo course consists of the following SAP modules:

1. SAP FICO
2. SAP BPC

SAP Financial Accounting (FI) is the central module where all the financial processing transactions are captured, and that is used to create statutory Financials Statements for external reporting purposes.

Functions in SAP FI can primarily be divided into

1. General Ledger Accounting (G/L)
2. Accounts Receivable and Accounts Payable(AR/AP) processing
3. Fixed Asset Accounting(AA)

SAP Controlling module helps provide operational information to the management of a company to support business analysis and decision-making.

CO represents the internal accounting viewpoint of an organization. It provides information to managers to help manage costs and operations of the organization.

SAP BPC focuses on management/financial budgeting and consolidation as well as collaboration through reports and scorecards. Another feature is the predictive forecasting based on historical data.

Some of the benefits for businesses using SAP BPC are:

1. Applications dedicated to gain better control over the financial business processes
2. Intelligent solutions for intricate consolidation work (compliance with regulatory requirements)
3. Information access for desired users to understand companies’ performance and future analysis
4. Gives a better insight for risk calculation
5. Alignment of current performance towards desired business goals efficiently.
6. Ensures better control over the data and security over information access
7. BPC improves accuracy and reliability
8. Facilitates Audit trial
9. Streamlines their business process
10. Prepares accurate plans and budgets
11. Incorporates the actual with their historical data
12. Effective report generation in financial planning and at the operational level
13. Centralization all the data
14. Consolidating the business profits as a single entity or multiple entities
15. BPC also helps in reducing the downtime of approvals in budgeting
16. Improves decision-making process

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