Functional area is the concept of knowing the organizational expenses incurred basing the activities. The activities may be administration, production, and marketing, like those. This concept is useful to know the profits basing on the cost of sales accounting concept. If the company is following the cost of sales accounting concept we need to define the functional area and assign properly in the various masters.
Define the various functions with 4 character ids and save the data. Define financial management area: path is same as above: Financial management is useful in funds management and to forecast the cash budgets for the organization. If the organization is following up the treasury module to manage their funds efficiently, we need to define this organizational unit. Click on new entries button Give 4 character id for the financial management area; and give the description and save the data.
