SAP Financial Management Complete: The Frontier of Management Informatization in the 21st Century SAP Series

Author: Wang Wen
Publisher:
Publish Date: 2005-04-01
Features:
Chapter 1: Overview of the Financial Management Module. This chapter introduces the structure of the financial management module and provides an overview of the impact of a simple business action, such as warehouse receiving, on the Accounting Department, Planning Department, Treasury Management Department, and Investment Department. It also illustrates two key features of ERP systems—high integration and standardization—using the example of parallel accounting of assets under different accounting standards. In this book, the following chapters belong to the field of financial accounting.
Chapter 2: Integrated Financial Accounting System. This chapter focuses on the integration relationship between the logistics module and the financial accounting module. Under integration, financial data ensures completeness, accuracy, real-time availability, and richness. This chapter introduces the main business operations in sales, inventory, procurement, and production that affect finance, as well as how they are automatically completed in terms of accounting.
Chapter 3: General Ledger
Chapter 4: Accounts Receivable and Accounts Payable
Chapter 5: Asset Accounting. This chapter introduces the concepts, main functions, and daily business operations of sub-modules such as the General Ledger, Accounts Receivable, Accounts Payable, and Asset Accounting within the financial accounting module.
Chapter 6: Bank Accounting and Cash Management
Chapter 7: Fund Management. Bank accounting and fund management are important sub-modules of the financial accounting module. These chapters cover topics such as cash position management, liquidity forecasting, group cash balancing, fund budget structure, and fund budget management, along with their applications in enterprises. Cash management also falls under the field of fund management.
Chapters 8–17 belong to the field of management accounting.
Chapter 8: Introduction to Management Accounting. This chapter introduces the two fundamental concepts of management accounting—cost flow and cost objects—through case studies across different industries. Cost flow describes the internal value stream of a company, like a river of costs flowing within the enterprise, while cost objects are like lakes for aggregating and analyzing costs. The ERP system makes cost objects and cost flows transparent, enabling managers to more objectively and scientifically (1) control costs, (2) evaluate performance, (3) analyze markets, and (4) support decision-making. This chapter briefly introduces some major cost objects, which will be detailed in Chapters 9–14. These cost objects also represent the sub-modules of management accounting. Additionally, this chapter explains the relationship between internal accounting and external accounting.
Chapter 9: Cost Centers and Internal Orders. Cost centers and internal orders are two common and primary tools in SAP for managing indirect costs. Indirect costs (Overhead) refer to expenses that cannot be directly allocated to production or sales through direct methods. Cost centers are similar to the concept of "departments" within a company and can be used to organize the company's structure. Internal orders are also cost objects with clear start and end dates. They are not organizational structures but individual projects. A marketing campaign, a company dinner, or an internal training session can all be an internal order. This chapter introduces various analysis and cost allocation tools for cost centers and internal orders, comparing the advantages and disadvantages of different methods through case studies. In the management accounting module, Chapters 10–13 are about product cost control.
Chapter 10: Product Standard Costs. This chapter details the various concepts involved in the calculation of product standard costs for discrete manufacturing and process industries, including Bill of Materials (BOM), work centers, routing, cost centers, activities, and material master records. It explains the calculation of product standard costs and various standard analyses using specific data from a detergent factory and an oil refinery. Product standard costs not only have analytical value themselves but also serve as the foundation for production cost control, management accounting planning, and profitability analysis, and so on.
This book is the first comprehensive domestic publication to introduce the world's most advanced financial management solutions and concepts. Based on years of theoretical and practical experience, the author describes in detail how SAP software helps enterprises and government departments solve major challenges they are concerned about, such as cash flow control, cost control, performance evaluation, profitability analysis, comprehensive budget management, strategic and performance management, corporate governance, and corporate consolidation, by implementing management controls and providing decision-making support for senior management. The content of this book is innovative and highly practical, making it suitable for senior management and financial personnel in enterprises and government departments, auditors in accounting firms and audit agencies, information research personnel, and IT consultants in consulting companies. It can also serve as a reference for faculty and students in university departments of information management, accounting, business management, and industrial and commercial management.