2. What is 'Finance'
Finance describes the management, creation and study of
money, banking, credit, investments, assets
and liabilities that make up financial systems, as well as the
study of those financial instruments. Some people prefer to
divide finance into three distinct categories: public
finance, corporate finance and personal finance.
Additionally, the study of behavioral finance aims to learn
about the more "human" side of a science considered by
most to be highly mathematical.
3.
4. RESPONSIBILITY OF FI
FUNCTIONAL
CONSULTANT.
• Main responsibilties are
• 1. Attending meetings with the client.
2. Gathered Information on their current business processes and prepare a
document on that which is nothing but As-Is process.
3. Gathered information on their business requirements, and prepare a
document on that which is nothing but To-Be process.
4. Mapping the source data element for each data element in the target
environment, which is nothing but Data Mapping.
5. Finding the gap between As-Is and To-Be processes, which is nothing but
Gap Analysis.
6. And prepare a document on the requirements gathered during workshops
which is nothing but Business Blueprint.
7. Based on this technical people implement business processes.
8. Invoived in Functional testing and Integration Testing.
9. Configured Global settings and Enterprise structure settings.
10. Configured G/L, A/P, A/R, Asset Accounting.
11. Prepared End user training Document.
12. Preparing workflow which is nothing but sequnce of business processes
flow to complete the project within defined scope, budget and time.
This provide settings and guidelines to other consultants based on that they
do further changes.
13. Production support after Go Live.
•
This is based on
asap methodology.
1. Project
preparation.
2. Business blue
print.
3. Realization.
4. Finalization.
5. Go and live
support.
5. Role functional
consultant.
• In one word, FI Functional Consultant is the
interface between the end-user and the SAP. He
has to understand the functional requirement of
the user, make it validate for the SAP
and work accordingly. Summarily, responsibility
of FI CO Consultant includes:
• understanding the business requirement for the
organization
Preparation of Blue print for implementing the
project.
implementation of the project.
• validate the reports requirements
• validate any changes in customize.
• providing training to end-user.
sorting out day to day queries of end users.
• enhancement of the SAP for end user based on
requirement.
Implementation
&
Support project
6. Financial Enduser role
Being a financial end user
in sap he or she has to ensure all
business transactions that occur in
other functional modules should
be converted into financial
language.
As sap is ERP software , it
facilitates us automatic posting
of transaction and updating the
general ledger.
The financial user end should
verify the ledger on daily basis
to keep track the record of
transactions which are coming
from different sources of
business modules.
In sap financial consultant plays a key
role to integrate with scm and
human resources.
7.
8. Maximizing shareholder value can be done over the long-term or the
short-term, so the job of the finance department is to determine
how best to do both. Sometimes, the goals may appear to contradict
each other.
The finance department is devoted to the task of figuring out how
to allocate assets for the overarching goal of maximizing shareholder
value. They must ensure that the right assets are in the right place at
the right time.
The finance department must also manage the company's liabilities so
that all projects are financed in an optimal way without taking on too
much risk.
9.
10.
11. Financial Planning and Analysis
Strategy development and translation
Planning, budgeting, and forecasting
Profitability and cost management
Monitoring and reporting
Accounting and Financial Close
Accounting
Entity close
Corporate close
Reporting and disclosure
Financial close governance
Treasury and Risk Management
Payments and bank communications
Cash and liquidity management
Debt and investment management
Financial risk management
Commodity risk management
Financial Operations
Receivables management
Invoice management
Travel management
Real estate management
Financial shared services
12. Enterprise Risk and Compliance Management
Enterprise risk management
Controls and compliance management
International trade management
Fraud management
Audit management