Hi,

As I am new to Oracle Apps, can any one explainl the basic functionality of FA ( Fixed Assets) and CM ( cash MAnagement ).

asset functionality is to maintain assets , means dep, reteirments, etc

Fixed Assets (FA):
A long-term, tangible asset held for business use and not expected to be converted to cash in the current or upcoming fiscal year, such as manufacturing equipment, real estate, and furniture.
Fixed Assets constitute the durable capital bases of an enterprise; traditionaly the property, plant, and equipment necesssary to deliver products and services.

CM:
A Credit Note or Credit Memo is a document used to adjust or rectify errors made in a sales invoice which has already been processed and sent to a customer. If you have already sent an invoice to a customer but now need to provide a credit for that invoice, you would send them a Credit Note or Credit Memo. You can think of a credit note as a "negative invoice."

Oracle CM ie Cash Management is used to basically perform Reconciliation of Bank and Cash Accounts Balances,Forecasting of Cash based on inputs from AP and AR module.