Frequently Asked Question
SAP Fico Financial Accounting FAQS
1. What is a FICO Module?
A FICO module is a tool used in Systems, Applications and Products in Data Processing, or SAP. FICO modules are used for information technology through SAP, which is a package mostly employed for financial accounting.
2. What is SAP FICO?
SAP FICO is the Financials and Controlling module in SAP. It is one of the significant modules since it covers all the accounting side of the company and all the reports produced by this module play a vital role to the management. FI covers all the financials part ie all the expenses experienced and revenues produced. CO covers all the costing processes and is involved in doing profit center accounting, cost center accounting etc.
3. What is the Purpose of SAP FICO?
Companies use SAP to assimilate, diversify and streamline work. It is a program package offering two main sub-modules: FI and CO. These are used for managing financial information and for investigating the information.