Can you help me understand the following terms as used in the following 4 quotes from the SAP site:
What is controlling component, controlling area and component code and how are they related? I will appreciate explanations with real life examples.
Can you also help explain each of the 4 quotes with examples. Thanks.
1. You can define a maximum of 16 posting periods for each fiscal year in the Controlling component (CO)
2. You need to specify the fiscal year variant for each company code.
3. When you create a controlling area, you also need to specify the fiscal year variant
4. The fiscal year variants of the company code and controlling area may only differ in the number of special periods used. You need to ensure that the fiscal year variants match, in other words, they may not have a time conflict.