What is SAP FICO?
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SAP FICO stands for Financial Accounting (FI) and controlling (CO). In SAP FICO, SAP FI handles accounting, financial statement preparation, tax calculations, etc., whereas SAP CO handles inter-orders, cost sheets, inventory sheets, cost allocations, etc.
This software is responsible for storing data, computing it, and retrieving the results based on the current marketing scenario. Also, data reporting, data verification, and data loss prevention are all handled by SAP FICO.