Explain the difference between Country chart of accounts nd group chart of acc

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Explain the difference between Country chart of accounts nd
group chart of accounts

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Explain the difference between Country chart of accounts nd group chart of accounts..

Answer / k. suvarna

Country chart of accounts contain G\L accounts needed to
meet the country's legal requirement. This allows you to
provide statements for the country's legal requirement.

whereas

Group chart of accounts contains the GL accounts that are
used by the corporate group. This allows the company to
provide reports for the entire corporate group. The
assignment of group chart of accounts to company code is
optional

Is This Answer Correct ?

17 Yes

2 No

Explain the difference between Country chart of accounts nd group chart of accounts..

Answer / vijay krishna

Country chart of accounts used for legal specific country
it means according country specific and Group Chart of
Accounts used for to consolidate number of company codes it
means number of company codes should follow one chart of
accounts then we are using group chart of accounts....

Is This Answer Correct ?

12 Yes

2 No

Explain the difference between Country chart of accounts nd group chart of accounts..

Answer / radwa

I WANT TO KNOW IF COUNTRY CHART OF ACCOUNT IS DEFINED AT
COMPANY CODE LEVEL OR CHART OF ACCOUNT LEVEL

Is This Answer Correct ?

5 Yes

0 No

Explain the difference between Country chart of accounts nd group chart of accounts..

Answer / vicky pruthi

country chart of account contains the g/l account i.e
neccesary to meet the country specific legal requirement.

whereas

when the co. is operating its business in the differnt
countries than for consolidation purpose the group coa is
assigned to the operative chart of account.

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3 Yes

0 No

Explain the difference between Country chart of accounts nd group chart of accounts..

Answer / muthu

correct

Is This Answer Correct ?

1 Yes

0 No

Explain the difference between Country chart of accounts nd group chart of accounts..

Answer / md ratiuddin

Country Chart of Accouts Used for Country Specific Legal
Purpose (Ex: Submit the Reports B/S & P&L for Particular
Country)

Group Chart of Accouts Used for Consolidation Purpose (Ex:
If Same Company More than One C.Code at that time Group
Chart of Account used)

Is This Answer Correct ?

1 Yes

0 No

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