Reply from Roy B on Jan 9 at 9:28 AM Hi Deepak,
I do not mean to be discouraging but I am afraid your experience to date is not very relevant for a FI-CO consultant because it is too limited. You need much broader experience of accounting and finance. OK, being able to "put a product costing system into a major production facility" is a specialization and you could start in FI without that and learn it on the job. The same goes for the other things you mention. Nobody is an expert on every aspect of FI-CO - the field is just too big, but the criterion is: you need to be able to go into an accounting department of a client company and hold your own when the accountants start talking about their daily work and things like monthly closing, year-end accounts and that sort of stuff. When they talk about reconciling a bank account, for example, that is something you should know about from the experience you have, and that is a basic, so you are part way there. The same when they talk about making payments by check or wire. You have done that. So what you need is to round out the knowledge and experience you have with a bit more. That may mean going for another job, maybe with an industrial company to learn some different processes. By the way, I started off in a mortgage company many. many years ago but then moved on to a big manufacturing company as a financial accountant and later worked in many other companies as a management accountant, chief accountant and so on. Later I became an audit manager and finally a financial director before getting into SAP FI-CO at the age of 48. Along the way I qualified as an accountant and as a business consultant, so by the time I came to FI-CO I had a broad experience of many aspects of accounting, finance and business in general, and that is what you need. You don't need to take as long as I did. My goal was not to become an SAP consultant and I sort of drifted into it almost by accident, whereas you have that as your goal and so can work out a plan to get the relevant experience you need to get where you want to go. I would say, from where you are now with a good plan you could make it in 4 or 5 years.
Regards,
Roy
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Roy Brookes FFA, FInstBA,
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| | | ---------------Original Message---------------
From: deepakramaswamy4
Sent: Monday, January 09, 2012 9:02 AM
Subject: Is FICO the Right Option for Me or Not?
Hi Roy,
I have read your suggestions(few of them) in response to the questions raised by many people; however I am still ambiguous and need your help in understanding whether opting for SAP (FICO) is right option for me or not.
Please go-through my profile and experience, which I have tried detailing it:
I have a varied experience and have no clue what to do.
After 6 yrs of experience(with graduation in Commerce and PG in Finance), I am not an expert on 1) Aspects of VAT 2) Cant put a product costing system into a major production facility 3) Don't know the differences between IFRS and US GAAP nor can I write a training document for super users of the FI or CO modules?
I would like to take you through my experience: I hold 6.5 yrs of experience (2.4 yrs in Customer Care and 4.2 yrs as a Reserves Analyst)
At Customer Care: I worked as a CRM for a Reputed bank in India, answering customer call and solving there queries.
As a Reserves Analyst (for a US based company): I am basically in to a Mortgage company, where my role is to monitor the cash flows, applying monthly payment(P&I), disbursing funds via check or wire after going through the Reserve Agreements for the capital repairs and replacements performed by the borrower.
Charging processing fees, wire fees and also in moving funds from one a/c to other or to other bank.
Looking forward for your reply.
Thanks
Deepak |
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