SAP Function modules are procedures that are defined in function groups (special ABAP programs with type F) and can be called from any ABAP program. Function groups act as containers for function modules that logically belong together. You create function groups and function modules in the ABAP Workbench using the Function Builder.
Function modules allow you to encapsulate and reuse global functions in the R/3 System. They are stored in a central library. The R/3 System contains a wide range of predefined function modules that you can call from any ABAP program. Function modules also play an important role in database updates and in remote communications between R/3 Systems or between an R/3 System and a non-SAP system. Unlike subroutines, you do not define function modules in the source code of your program.
Find here some useful ABAP Function Modules! – Download
Important SAP Function Modules.