| The SAP FI (Financial Accounting) Module
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| | module. The Cost Element Accounting
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| has the competence of meeting all the
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| | component provides information which
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| accounting and financial needs of an
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| | includes both the costs and revenue for
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| organization. Along with other managers,
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| | an organization. These postings are
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| Financial Managers within your business
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| | updated automatically from FI to CO. The
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| and same module can review the financial
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| | cost elements are the foundation for cost
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| position of the company in real time as
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| | accounting and facilitate the User the
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| contrasted to legacy systems which
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| | ability to display costs for each of the
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| necessitate overnight updates before
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| | accounts that have been assigned to the
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| financial statements frequently and can
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| | cost element. Cost Center Accounting
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| be generated for management review. The
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| | provides information on the costs
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| real-time functionality of the SAP
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| | incurred by your business. You have the
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| modules allows for better decision making
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| | ability to assign Cost Centers to
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| and strategic planning. The FI Module
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| | departments and managers responsible for
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| incorporates with other SAP Modules such
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| | certain areas of the business as well as
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| as MM (Materials Management), PP
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| | functional areas within the SAP. Cost
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| (Production Planning), SD (Sales and
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| | Centers can be created for such
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| Distribution), PM (Plant Maintenance),
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| | functional areas as Marketing,
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| and PS (Project Systems). The FI Module
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| | Purchasing, Human Resources, Finance,
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| also assimilates with HR (Human
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| | Facilities, Information Systems,
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| Resources) that includes PM (Personnel
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| | Administrative Support, Legal, Shipping
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| Management), Time Management, Travel
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| | Receiving, or even Quality.
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| Management, Payroll. Document
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| | Some of the benefits of Cost Center
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| transactions occurring within the precise
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| | Accounting:
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| modules generate account postings by
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| | (1) Managers can set Budget/Cost Center
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| means of account determination tables.
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| | targets
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| The SAP CO (Controlling) Module endow
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| | (2) Cost Center visibility of functional
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| with supporting information to Management
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| | areas of your business
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| for the purpose of planning, reporting,
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| | (3) Planning
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| as well as monitoring the operations of
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| | (4) Availability of Cost allocation
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| their business. Management
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| | methods and
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| decision-making can be achieved with the
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| | (5) Assessments of costs to other cost
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| level of information provided by this
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| | objects.
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