FICO (Financial Accounting and Controlling) is an integral module within ERP (Enterprise Resource Planning) that helps businesses manage financial transactions, reporting, and internal cost control. SAP FICO consists of two key components: Financial Accounting (FI), which ensures compliance with accounting standards and financial reporting, and Controlling (CO), which focuses on cost tracking, budgeting, and internal financial management. It integrates seamlessly with other SAP modules like MM, SD, and PP, providing real-time financial insights. SAP FICO enables accurate financial planning, risk management, and profitability analysis, helping organizations make data-driven decisions while ensuring transparency and regulatory compliance.