What is FI/CO?

FI/CO refers to the Finance and Controlling modules in SAP. FI (Finance) deals with financial accounting, including general ledger, accounts payable, accounts receivable, asset accounting, and bank accounting. It is used for external reporting. CO (Controlling) deals with managerial accounting, including cost element accounting, cost center accounting, internal orders, profitability analysis, and product cost accounting. It is used for internal reporting and decision-making. FI/CO is commonly used by businesses to manage their financial data, create financial statements, and control costs.