How to Use Your Accounting Information to Learn SAP Finance and Controlling Module

15 Feb

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The new hot area in SAP is new basic ledger (NEW GL) accounting which has the following attributes:

1. new segment reporting

2. International accounting requirements

3. balancing book by dimension

4. parallel set of books

5. quick close

Following are the main characteristics:

Compliance with International accounting requirements:

The new general ledger accounting supports international requirement by integrating management dimension in the GL and supporting basic expense accounting. Consumers can also define their own requirements based on their personal business requirement.

Balanced Book by any dimension:

This feature enables reporting of the balance sheet by segments. This helps business handle balance sheet by using segments. This is also satisfies the legal requirement.

Parallel Set of Books:

Parallel accounting has been enabled inside the new basic ledger functionality, by designating a single lead ledger. Then all the business codes are assigned to the lead ledger. This function helps organizations handle multiple books within the general ledger. When the new GL is active the financial accounting document usually has two views, one is the entry view and other the GL view. The major distinction the entry view and the GL view is that the entry view gives details as it seems on the sub ledger of the accounts payable or accounts receivable ledgers. But in the basic view it gives a snap shot of how it is seems on the common ledger.

Quickly Close:

The new GL enables the merger of monetary and management accounting. This merger eliminates inconsistencies in the reconciliation method. If you have accounting degree or understanding in accounting this is a good niche area to concentrate for your career in SAP finance and controlling. Most of the organizations employing SAP will upgrade their old GL functionality into new GL. This signifies they will need to have people to assistance their implementation. As a new bee into SAP career you can be involved in testing, documentation, instruction support, and initial level production support. If you are CPA you can also get involved in configuring the SAP Technique. This will involve understanding client’s company procedure and configuring the sap method as per consumers requirement. For example if you need to have to generate a vendor in the SAP Technique and one particular of the requirement will be to enable credit verify. Then this check has to be created necessary field in the vendor master configuration screen. All business processes have their own checks and balances based on the sector. A lot of people are wondering what is sap and if they can leverage their existing company expertise to begin a new profession in SAP.

8 Responses to “How to Use Your Accounting Information to Learn SAP Finance and Controlling Module”

  1. Ralph January 8, 2013 at 2:35 pm #

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  4. Roselyn February 19, 2013 at 11:58 am #

    I wanted to get an MBA in Dubai or the UAE, but for all Universities I checked, Hult, LBS, Cass; they needed a minimum of 4 years experience. I am a fresh graduate and still dont have any finance related experience but still want get my MBA early and in Dubai
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  5. Herman March 18, 2013 at 10:31 am #

    I am an international student and i have not seen colleges offering GMAT. I posses an undergraduate degree in BA(Economics) with honors but am also hoping to work and finance my education in the US. Please help.

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  7. Lane August 8, 2013 at 9:16 pm #

    What are the equirements for an International student to apply Permanent Residence or indefinite leave to remain in UK? I mean like a student who is studying in a Uni in UK. How long you must have at least lived in the United Kingdom (for a continuous period) in order to be eligible for permanent residence and other prerequisites?

  8. Ching August 9, 2013 at 12:11 pm #

    What is the average cost (Fees and Cost of Living) to study a PhD degree in UK for an international student? And what is the normal/average duration(in years) of study? What is the minimum GPA (in 4.0 scale) should I have to do a PhD? And what are some best universities in UK for PhD degrees(regarding cost and rankings)?
    What if it is a PhD in Computer Science or Information Technology?

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