-> What are the changes in S4(Simple Finance) that is different to SAP FICO ECC? Discuss citing some examples.one page whole

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Accounting
The finance firms needs to embrace the digital age for keeping up with the new as well as evolving business models and also providing decision makers with the right insight. With the SAP S/4HANA Finance one can create a common view with regards to operational and financial data, providing consumable reporting, flexible, automate procedures as well as instantly evaluating the financial implications in terms of business options with the prediction, real-time analytics and also with a beautiful experience of the users. The SAP FICO can be regarded as one of the most vital in the functional modules concerning the elements of the SAP ERP which helps the companies for managing all of their financial data in the best possible manner (De Grauwe and Grimaldi, 2018.). The main purpose of the SAP FICO revolves around supporting the company for producing as well as handling all the financial statements for reporting and also analysing along with it assisting with the efficient business planning along with the decision making. It should be noted that the SAP FICO consists of the 2 modules such as SAP Controlling (CO) as well as SAP Finance (FI) each of the modules are used for carrying out particular financial procedures. On the contrary, S4 which is also known as the Simple Finance and the term simple finance is no longer an official brand but still there are a lot of individuals who tends to utilize this term interchangeably because of the fact that it was highly marketed by SAP for a while. It is also company suite built on the top of the memory platform in terms of SAP. The S4 also consists of the ERP capabilities across a lot of various businesses segments such as Sales, Human Resources, Procurement, Finance, Supply Chain, etc.
"SAP S/4HANA Finance" is the segment of the S/4HANA Suite managing Financial Management arrangements. It makes it feasible for:
· One regular perspective on monetary information is reliable expansive, decreasing compromise drives.
· A Universal Journal for monetary/controlling information.
· Focal Finance to solidify various back-end information sources.
It can be said that having the in-depth knowledge concerning the SAP FICO basic model is extremely significant as it tends to help the basic when it comes to having the proper understanding in terms of the delta alterations which is infused by HANA and promoting the cloud computing platform.
Throwing light on the above-mentioned discussion it can be stated that the major difference is SAP S/4HANA tends to come under the technical module while the SAP FICO comes under the functional Module for handling all of the costing and financial aspects of a firm on the contrary SAP S/4HANA is a tool for reporting. The major difference between the SAPFICO and S4 HANA Finance that is also known as the Simple Finance is mainly based on the in memory HANA...