Change fiscal year variant from K1 to K4

Hi all,

There is a requirement as part of merger that we change our FYV from K1 to K4. I don't see much of an impact as the calendar months are still 12 but the difference is only in special periods. So please advise of any adverse affects that has to be considered. Is it a simple change or should we tag the change as year dependent? We implemented assets module and CO-PA. So please advise what are the things that we have to watch out for?

Thanks