SAP FICO (SAP Finance and SAP Controlling)

In this post I'll try to explain what the definition of SAP FI (Finance) and SAP CO (Controlling) Companies that implement SAP SAP FICO is a core functional component in SAP ERP Central Component that allows an organization to manage all of its financial data. The purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting and help with effective business planning and decision-making. SAP FICO consists of two modules, SAP Finance (FI) and SAP Controlling (CO), each of which is used for specific financial processes. SAP FI deals with overall financial reporting and accounting while SAP CO focuses more narrowly on planning and monitoring costs. SAP FI and SAP CO were originally released as separate modules but are now so tightly integrated that many people refer to them as simply one module. SAP FI modules SAP FI enables companies to generate financial statements -- such as balance sheets or profit...