What is sap co and personal account and nominal account and that financial statement tedious and GST in explain and for this P2P cycle and asset accounting

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Accepted Answer

SAP CO is a module for controlling and managing costs in an organization. Personal and nominal accounts are used in financial accounting. GST is a tax system. P2P cycle is a procurement process. Asset accounting is for managing fixed assets.

SAP CO is used for cost controlling and management
Personal accounts are used for individuals and nominal accounts are used for expenses and revenues
GST is a tax system used in India and other countries
P2P cycle is a procurement process from purchase requisition to payment
Asset accounting is used for managing fixed assets such as buildings and equipment

What is sap co and personal account and nominal account and that financial statement tedious and GST in explain and for this P2P cycle and asset accounting

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