INTIME FICO Concept Presentation
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This document provides an overview of financial accounting (FI) and cost accounting (CO) in SAP. It describes how FI is used for external reporting like balance sheets, income statements, and financial position statements. CO is used for internal management reporting by cost centers, cost elements, and actual vs planned costs. It also outlines the key organizational hierarchies in SAP including client, company, chart of accounts, company code, credit control area, and controlling area.
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INTIME FICO Concept Presentation
- 3. G/L Reporting Legal or external reporting • Balance sheet • Income Statement • Statement of Financial Position Financial Accounting www.intimeinc.co.in
- 4. Stockholders Bankers, Lenders IRS, Taxing Authority External Auditors SEC Financial Accounting External Accounting Balance Sheet Profit & Loss Financial Position www.intimeinc.co.in
- 5. CO/EC Overview COMPONENT Cost Center Acctg - CO-CCA Internal Orders CO-OPA Projects - PS Product Costing - CO-PC Activity Based Costing Profitability Analysis-CO-PA Profit Center Acctg-EC-PCA Executive Info. System-EC-EIS VIEW Costs Costs Costs Costs Costs Profits Profits Any data ROLE Cost Tracking Small Projects Large Projects Product Costing Cost Management Margin by multi-cuts Profit & Loss Repsons. Cross-module reports www.intimeinc.co.in
- 6. Internal management reporting Reports by cost centers or other cost “objects” and cost elements Cost centers Orders and Projects Budget/plan Actual vs. plan CO Reporting Controlling www.intimeinc.co.in
- 7. Controlling Internal Accounting Departmental Expense Report Salaries 10,000 Overhead 8,000 Other 5,000 Total 23,000 Department Managers ControllersExecutives Senior Managementwww.intimeinc.co.in
- 8. FI and CO comparison COFI Legal or external reporting Reports by accounts Balance Sheet Income Statement Internal management reporting Reports by cost centers and cost elements Cost Center Reports www.intimeinc.co.in
- 9. FI/CO Organizational Structures • Client • Company • Chart of Accounts • Company Code • Business Area • Credit Control Area • Controlling Area www.intimeinc.co.in
- 11. Client • Highest hierarchical level in an SAP system • A complete database containing all the tables necessary for creating a fully integrated system • Master records are created at the client level www.intimeinc.co.in
- 13. Company • Consolidated financial statements are created at the company level • A company can include one or more company codes – All company codes must use the same chart of accounts and fiscal year www.intimeinc.co.in
- 15. Chart of Accounts • A listing of the accounts • A chart of accounts must be assigned to every company code • Several company codes can use the same chart of accounts – A different chart of accounts can be used if a different grouping of the chart of accounts is required www.intimeinc.co.in
- 16. Co code 1000 Co code 2000 Co code 3000 Co code 4000 Co code 5000 US CHART OF ACCOUNTS GERMAN CHART OF ACCOUNTS CLIENT www.intimeinc.co.in
- 17. CLIENT COMPANY COMPANY CHART OF ACCOUNTS CHART OF ACCOUNTS COMPANY CODE COMPANY CODE COMPANY CODE www.intimeinc.co.in
- 18. Company Code • A required structure • A legally independent entity • The smallest organizational unit for which accounting can be carried out • The level where business transactions are processed • The level where accounts are managed • The level where legal individual financial statements, such as the balance sheet and the profit and loss statement, are created A BALANCED SET OF BOOKS www.intimeinc.co.in
- 19. CLIENT CHART OF ACCOUNTS CHART OF ACCOUNTS COMPANY CODE COMPANY CODE COMPANY CODE COMPANY COMPANY CREDIT CONTROL AREA CREDIT CONTROL AREA www.intimeinc.co.in
- 20. Credit Control Area • An organizational unit or area of responsibility created to control customer credit limits • A company code is assigned to one and only one credit control area • Multiple company codes can be assigned to one credit control area www.intimeinc.co.in
- 21. CLIENT CHART OF ACCOUNTS CHART OF ACCOUNTS COMPANY CODE COMPANY CODE COMPANY CODE COMPANY COMPANY CONTROLLING AREA CONTROLLING AREA www.intimeinc.co.in
- 22. Controlling Area • An organizational unit defining the company's cost/ managerial accounting operations • A company code is assigned to one and only one controlling area • A controlling area can have multiple company codes assigned to it – This allows cross company cost allocations and reporting www.intimeinc.co.in
- 23. 1 2 3 4 5 6 7 JANUARY FEBRUARY DECEMBER Fiscal Year VariantFiscal Year Variant •Determines the fiscal year •Calendar year or non-calendar year •Allows the use of special periods to aid year-end closing •Is assigned to a company code www.intimeinc.co.in