SAP FI/CO is one of the important modules in SAP ERP. FI stands for Financial Accounting and it is used to store the financial data of an organization. SAP FI helps to analyze the financial conditions of a company in the market. SAP CO stands for Controlling and it supports coordination, monitoring, and optimization of all the processes in an organization. SAP CO also includes managing and configuring master data that covers cost and profit centers, internal orders, and other cost elements and functional areas.