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Explain the difference between Country chart of accounts nd
group chart of accounts
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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 |
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 |
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 |
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.
| Is This Answer Correct ? | 3 Yes | 0 No |
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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