What is the purpose to have country CoA, if a company code already have operat

What is the purpose to have country CoA, if a company code
already have operational CoA? What are the different type
of legal requirement a company can have? Explain with
examples.

Question Posted / pooja gupta

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What is the purpose to have country CoA, if a company code already have operational CoA? What are ..

Answer / maya

Operational chart of account – Day to day activities It is
mandatory.
Country COA – It’s used for legal specific requirement of
each country. It’s additional and optional.
Group COA used for consolidation of Company codes. This is
for group consolidation purpose.
one of the legal reqts. is tax- different systems in
different countries. Even dates for payment of each tax is
different.
Sorry can't give specific examples right now.

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What is the purpose to have country CoA, if a company code already have operational CoA? What are ..

Answer / rahul

Impementation of new accounting standards such as IFRS the
companies in different countries may have requirements to
report under two different standards. Hence country CoA can
be used in this regard

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What is the purpose to have country CoA, if a company code already have operational CoA? What are ..

Answer / abc

Operationl COA used for Day day to business trasncation.
Suppose One company have many offices in differenet
countries & they have differenet tax & legagel requirement
there that main reason make Country COA.

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What is the purpose to have country CoA, if a company code already have operational CoA? What are ..

Answer / pai

Country chart of account is meant to deal with legal
requirements in reporting and which are country
specific.but by assigning same Operational chart of account
to all company code we can achieve cross company code
controlling.even the individual company code are assigned
to different country chart of account u can still achieve
cross company code controlling by assigning it to same
operational chart of account.

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