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Former Member
Feb 26, 2009 at 01:32 PM

Creat new Chart of accounts parralel to Master COA?



Case scenario: Sister concern is supposed to get approval from mother concern if she wants to create new cost element, Cost centre, profit centre etc in controlling for reporting purpose. Because all these controlling elements based on master Chart of account, and master COA is considered in the consolidated balance sheet and financial statement.

In order to get rid of this dependency of getting approval,

Q1. Could sister concern define another COA parallel to master COA only for reporting purpose?

Q2. Could this new COA be the same as master COA with different name?

Q3. Can then sister concern create cost elements, cost centres. Profit centres with new defined standard hierarchy

Q4. Does sister concern need to define new COPA-Data Bank Structure for this purpose or she has to use the existing data bank structure?

For prompt answer with method to carry out all these processes I will be thank full to all of you.

Thanks and regards