If you see SAP’s guidelines, they have replaced SAP FICO with SAP S4HANA Finance. So essentially, SAP FICO is an obsolete module currently.
SAP has offered 2 kinds of courses for Finance module. One is SAP S4HANA Finance Associate, and other is SAP S4HANA Finance Professional.
So, people who don't have previous knowledge or expertise in SAP Finance or FICO, they can opt for the Associate program. Those who are already operating as SAP adviser, they can upgrade themselves with Professional level program.
However, technically, you can learn SAP FICO too, instead of choosing the Associate level program before doing SAP S4HANA Finance or what it is popularly called as SAP S4HANA Simple Finance.
This means, clearly you wish the base level knowledge of SAP Finance before entering into S4HANA Finance. So SAP FICO is the cheapest and good option for the same.
Thus, it is advisable to first Learn SAP FICO (available for free on Youtube).
Post FICO, choose SAP S4HANA Finance coaching to be an expert consultant.
Why it is important to learn SAP FICO?
SAP FICO is an application to research truth status of business compared to business normal & competition. FICO has two parts; FI & CO. FI is particularly used to enter financial transactions within the ERP system, whereas CO monitors & controls the cost accounting and managerial functioning into the business. With the help of SAP FICO implementation, one will integrate the money transactions with alternative connected processes of the business like sales, production, promoting etc. so that all workflows get in correct with their individual money valuation. In FICO, Reports may be generated mechanically on a timely basis therefore on get complete management over the money operation of the corporate.
Since SAP FICO contains the whole configuration of Finance into the ERP system, it may be thought of as step one to become a successful SAP HANA Finance adviser.
The conclusion is, though, learning SAP FICO prior S4HANA Finance is not mandatory, but it is required and advisable too.