Why we use country chart of account when there is operating chart of account

Question

Accepted Answer

Country chart of accounts is used to comply with local legal requirements and reporting standards, while operating chart of accounts is used for internal management reporting.

Country chart of accounts is tailored to specific legal requirements and reporting standards of a particular country.
It helps in ensuring compliance with local regulations and facilitates accurate financial reporting.
Operating chart of accounts is designed for internal management reporting and decision-making purposes.
It allows for better control and analysis of financial data for internal use.
Using both charts of accounts allows for meeting both external legal requirements and internal management needs.

Why we use country chart of account when there is operating chart of account

Popular interview questions of Associate SAP Fico Consultant

Top HR questions asked in Ameri100 Associate SAP Fico Consultant