What is application business object in SAP FS-PM - Policy Management?

SAP Term: application business object

• Component: FS-PM

• Component Name: Policy Management

• Description: Basis for processing business transactions. An Application business object exception: New Application is generated from a Contract business object. New applications are created on the basis of an application form. The release of the application normally leads to a change to the Contract business object.

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• Key Concepts: 
  Application business objects are the core components of the FS-PM Policy Management component of SAP. They are used to define the business logic and data structure of an application. They are also used to store and manage data related to the application. 
  
  How to use it: 
  Application business objects can be used to create, modify, and delete data related to an application. They can also be used to define the business logic and data structure of an application. Additionally, they can be used to store and manage data related to the application. 
  
  Tips & Tricks: 
  When creating an application business object, it is important to consider the data structure and business logic that will be needed for the application. Additionally, it is important to ensure that the data stored in the object is accurate and up-to-date. 
  
  Related Information: 
  For more information on application business objects, please refer to SAP's documentation on FS-PM Policy Management. Additionally, there are many online resources available that provide tutorials and tips on how to use application business objects in SAP.