Topics Covered - SAP FICO Demo Session Overview, SAP System and Its Modules, SAP Module Integration and Efficiency, Training Plan for Financial Modules, SAP Accounting Process Overview, SAP FICO Training Curriculum Discussion, SAP Consultant Training Path Discussed, Live Training Sessions and Mentorship, SAP FICO Learning Resources Overview

Summary

SAP FICO Demo Session Overview

In the meeting, Parminder and Abidunnisa discussed a demo session for SAP FICO. They clarified that the session would be interactive, with participants responding via chat. The session aimed to introduce the SAP FICO module, its components, and the learning path for those interested in becoming SAP FICO consultants. Abidunnisa, with over 15 years of experience in SAP FICO, was introduced as the trainer for the session. She planned to cover the basics of SAP FICO and share her experience from various projects. The session also included information about upcoming workshops and the support provided by Sastrageek solutions for learning.

SAP System and Its Modules

Abidunnisa discussed the SAP system, which is used for data processing. She clarified that SAP stands for System Applications and Products in Data Processing, which allows for the processing of all enterprise-related data in one tool. She mentioned that SAP supports 200 plus countries and 40 plus languages. Abidunnisa also discussed the different modules of SAP, including FI, MM, PP, PS, CRM, HCM, and SCM. She planned to delve deeper into the core module, FICO, and the system in future sessions.

SAP Module Integration and Efficiency

Abidunnisa discussed the integration of various modules in SAP, emphasizing its efficiency and cost-effectiveness. She explained that SAP's integrated modules eliminate the need for double entries in accounting, as the system automatically generates journal entries when modules are integrated. Abidunnisa also highlighted the core module, FICO, which is essential for the functioning of other modules. The team agreed to proceed at a moderate pace, with Abidunnisa planning to provide further details via email.

Training Plan for Financial Modules

Abidunnisa discussed the training plan for the team, which will cover financials, controlling, and banking modules. The training will start with company creation and financial statement extraction, including balance sheet and profit and loss accounts. The controlling module will focus on cost and revenue overheads for management accounting. The training will cover sub-modules like accounts payable and receivable, and banking. The team will also learn about cost centers, profit centers, and internal orders. The training will be conducted for both consultant and end-user roles, with a focus on enterprise structure and general ledger accounting.

SAP Accounting Process Overview

Abidunnisa discussed the day-to-day work of the accounting team, focusing on the General Ledger and the financial accounting. She explained the process of creating master data, posting information, and generating reports. She also discussed the concept of business partners in SAP, the creation of vendor groups and customer groups, and the integration of vendors and customers with business partners. Abidunnisa further explained the configuration of the Automatic Payment Program, which allows for the payment of thousands of vendors with a single click. She also discussed the manual payment process, down payments, and the reconciliation of accounts payable and accounts receivable. Abidunnisa also touched on asset accounting, depreciation calculation, and the creation of cost centers and profit centers. She concluded by mentioning the financial extract, a report that summarizes all the transactions.

SAP FICO Training Curriculum Discussion

Abidunnisa discussed the training curriculum for SAP FICO, emphasizing its relevance for finance operations and its potential as an evergreen module. Parminder further elaborated on the curriculum's applicability, suggesting it as a valuable training for those in finance operations, commerce backgrounds, and even as a subject in some MBA colleges. He also highlighted the module's importance for those aspiring to become SAP consultants or solution architects.

SAP Consultant Training Path Discussed

Parminder discussed the path to becoming a SAP consultant, emphasizing that it requires effort and dedication. He mentioned that the training is suitable for both freshers and those with prior knowledge, and that it covers the basics of SAP and S/4 Hana. Parminder also highlighted the importance of two workshops, one for those starting from scratch and another for those already familiar with SAP. He emphasized that these workshops provide in-depth navigation and technical knowledge.

Live Training Sessions and Mentorship

Parminder discussed the live training sessions and recorded sessions available for the course. He emphasized the importance of the community, where students can connect with each other and learn together. He also introduced a complementary course for CV building and a mentorship program for students to review their CVs and address any issues they may be facing. Lastly, he highlighted the importance of gaining implementation and support project exposure through a detailed course called SAP Job and Mastery, which is available as part of the bundle.

SAP FICO Learning Resources Overview

Parminder discussed the resources available for learning SAP FICO. He mentioned the interview questions and videos available for preparation, as well as the mock interview feature that will be introduced in the next 3 months. He also highlighted the certification questions and additional resources like the SAP Step Up Circles, which provide 200 hours of content on various topics. Parminder also introduced the SAP FICO Content Library, a project they are working on to provide detailed scenarios and step-by-step instructions. He emphasized the importance of having a strong foundation in SAP FICO and the value of the resources they provide. He also mentioned the SAP internship program and the Gurukul program for those not currently working.