From the course: SAP Financials Essential Training

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SAP S/4 HANA Financial Accounting overview

SAP S/4 HANA Financial Accounting overview

From the course: SAP Financials Essential Training

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SAP S/4 HANA Financial Accounting overview

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- [Instructor] Everything we do in business relies on accurate financial record keeping. Let's take a look at the capabilities and the importance of financial accounting in SAP S/4 HANA. The goal of the S/4 HANA finance line of business is to record all the financial transactions in real time at an organization. The accounting function in this module is the crucial record keeper for our business. It captures all the debits and credits, and then accounts for them with appropriate classifications. Next, not only does this module capture all the transactions, it also produces real-time financial reporting. These can be external reports that may be used publicly for legal compliance, or they can be internal reports that can be used by managers to make well-informed business decisions. Finally, the financial accounting module tracks every transaction made in the system. It provides an audit trail from the balance sheet, all the way down to the financial transactions at the document level…

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