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SAP FICO includes two sections, SAP Finance (FI) and SAP controlling (CO). For a performing financial process, both of them are significant. SAP FI works with overall financial accounting and reporting, SAP CO concentrates on planning and monitoring costs. SAP FICO is an essential functional element in SAP ERP. It permits an organization to preserve a detailed version of financial transaction data. Earlier, SAP FI and SAP CO were separate modules, but now they are referred to as simply one module.