How do you create a fiscal year variant in SAP?

Here are the following steps for creating a Fiscal Year Variant in SAP FICO:

• Step 1: Start by entering the SAP Transaction code SPRO in the command field and press Enter.
• Step 2: Now, on the next screen, please select the SAP Reference IMG button.

• Step 3: It shall navigate you towards the following path:

           Financial Accounting -> Financial Accounting Global Settings->Fiscal Years ->

           Maintain Fiscal Year Variant (Maintain Shortened Fiscal Year )

• Step 4: Now select on the "New Entries" section from the Application toolbar.
• Step 5: Now that you have entered all the required data, press on the save icon on the Application Toolbar
• Step 6: Enter the customizing request number. Now, you have created a new Fiscal year Variant.
• Step 7: You should now maintain the periods for the Fiscal year in ascending order.
• Step 8: Finally, just press the "Save" button in SAP Standard Toolbar