If you are unfamiliar with this document, do not be vexed. Documenting the functional requirements provides several important benefits to the organisation and to the process of developing a solution. According to the internet, a functional requirements document, abbreviated as frd, is a formal statement of an. An frd or functional requirements document serves as a contract for formal statement, between the business stakeholders and the technology team, on an application’s functional requirements. Use the following priority table.