Any firm irrespective of it's scale of operations or profits has to maintain their financial accounting reports and hence have to implement an Information system like any ERP Financial accounting module. Justify with 5 valid and realistic reasons related to the business operations.

b. what are the major challenges faced by an organization while implementing an ERP system. Discuss with reference to Procurement process as process for implementation. 

c. Explain the following terms from the SAP MM implementation perspective 
i. Storage Location 
ii. Purchasing Group 

d. With a neat diagram explain Sales Cycle starting from Inquiry and ending at the Payment phase. 

e. What is the role and significance of credit control area in SAP FI and SD module? Explain with an example.