Application component &1 is not defined in the Accrual Engine

What causes this issue?

Processing terminated due to a system error. Application component &V1&
in the Accrual Engine is not defined.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Application components are defined and supplied by SAP. Table TACECOMP
was probably not transferred correctly according to delivery standard
when the system was installed.

Error message extract from SAP system. Copyright SAP SE.