Explain ‘Financial Accounting (FI)’ in SAP.

The ‘FI (Financial Accounting)’ module of SAP is the back-bone, which records, collects, and processes financial transactions or information on a real-time basis to provide the necessary inputs for external (statutory) reporting.

The module is integrated with other modules (such as Material Management (MM), Sales & Distribution (SD), Human Resources (HR), Production Planning (PP), Controlling (CO), etc.). The module FI has several sub modules that are tightly integrated.

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