I am having this question that what is Fiscal Year? And What is Fiscal Year Variant?
Please share your answer, thanks in advance.
Fiscal Year is nothing but the accounting period which normally spreads over 12 months. The financial statements are drawn for a fiscal year in SAP. In SAP Fiscal year is defined as Fiscal Year Variant. Customizing Tr. Code – OB29.
All Calendar Year Fiscal Year Variant in SAP are denoted usually as K1, K2, K3, and K4. All Non Calendar Year Fiscal Year variants - Fiscal year may or may not correspond to the calendar year are denoted by V3, V6 and V9.
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