What is the difference between defining the fiscal year variant and posting period variant? please mention the TC for each one?

Fiscal year variant and Posting period variant are differentiated based on their purpose. While fiscal year variant is to define no of posting a period allowed and is assigned to co code, posting period variant is to decide which periods can be opened at particular point of time for posting. Separate rules can be defined for each type of account. This is used for control purpose.

1.Fiscal year Variant- Here you will maintain your company's accounting year with starting and ending months. This may or may not be a calendar year.

2.Posting period variant : here you can open and close the fiscal year months for posting .