SAP FICO ( Finance & Controlling ) :
SAP FICO module refers to the Finance(FI) and Controlling(CO) modules of SAP ERP system. FI and CO are the core modules of SAP. They are tightly integrated with Sales and Distribution Module ( SD) and Materials management (MM) module.
SAP Financial Accounting (FI) is the core module where all the financial processing transactions are captured. This is the module that is used to create statutory Financials Statements for external reporting purposes.
Functions in SAP FI can primarily be divided into General Ledger Accounting (G/L), Accounts Receivable and Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA).
SAP Controlling (CO) module helps provide operational information to the management of a company to support business analysis and decision-making. CO represents the internal accounting viewpoint of an organisation. It provide information to managers to help manage costs and operations of the organization.