Definition
Accounting is an instrument for representing business transactions and relationships. It includes internal and external accounting, with each having different audiences.
The external accounting area of an enterprise includes:
Use
External accounting contains business processes for commercial record-keeping and for accounting to other parties, particularly to the owners of outside capital and the tax authorities. These processes include financial accounting and year-end closing.
The range of services provided by the SAP System include the processes of the following subareas of the Financial Accounting component:
General Ledger Accounting Accounts Payable Accounts Receivable Special Purpose Ledger Valuation of Stocks for Balance Sheet Purposes Consolidation Funds Management