SAP FICO is the Finance and Cost controlling module in SAP ERP where FI stands for Financial Accounting and CO stands for Controlling. SAP FICO module is very robust and covers almost all business process encountered in various industries. It is one of the very important and widely implemented modules in SAP.
SAP FICO is a module used for financial reporting both externally and internally. The objective is to record all financial transactions that are posted by an entity and produce financial statements that are accurate at the end of the trading period.