You can use Classic Application Administration, the Application Library, and the Financial Management Desktop to create Financial Management applications. Of these, Classic Application Administration and the Application Library interfaces are accessed through EPM Workspace.
Financial Management applications created through Classic Application Administration and Financial Management Desktop are Classic Financial Management applications. Classic applications are stand-alone applications with their own profiles that define their calendar and the languages. A classic application has its own metadata file that defines its dimensions. Classic applications do not share dimensions and members with other Financial Management applications. Financial Management applications created using the Application Library of Performance Management Architect can share dimensions and members with each other and with Planning applications.
Classic and Performance Management Architect applications require that you create a security class before you can load or deploy metadata using that security class. For Performance Management Architect applications, security classes and metadata deployment can occur simultaneously. For Classic applications, security classes must already be available before you can load metadata into the application.
A major difference between classic and Performance Management Architect Financial Management applications is the way in which artifact-level security is defined. Classic Financial Management applications allow you to create or load security classes after you create the application while Performance Management Architect Financial Management applications do not permit it. You must define security class members and assign them to securable dimension members while creating the application.
The behavior of Financial Management applications is identical regardless of how you created them.