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SAP Finance
SAP Finance or SAP Financial Accounting covers essentially the external accounting needs of the companies.
External accounting aims at fulfilling all the regulatory requirements to which companies are liable (including the periodic production of financial statements) by providing a complete and accurate view of the company assets and liabilities and profits and losses. This accounting is said to be external because it interests mainly external parties (fiscal authorities, shareholders, auditors, …). It records financial operations by nature as external parties are mainly interested in knowing the nature of costs and revenues (and the structure of assets and liabilities) and not so much in their usage or destination whose analysis is the purpose of internal accounting managed by SAP Controlling.
The core modules of Finance are:
- General Ledger
- Accounts Receivable
- Accounts Payable
- Asset Accounting
- Bank Accounting