You define an application in five steps:
Create an application profile, which contains calendar, language, and frequency definitions for the application. See Creating Application Profiles.
Create an application shell, in which you define the application server where the application resides, an application label and description, an application profile, and a location for a log file. See Creating Applications.
Define security for the application including which users have access to the application and what type of access each user has. See Managing Application Security.
Define metadata for the application, including accounts, entities, scenarios, and custom dimensions, as well as application settings, consolidation methods, and currencies. See Managing Metadata.
Load data, data forms, member lists, rules, and journals to the application.
You can have only one application open at a time, however, you can have several instances of Financial Management open with different applications on each instance.