The smallest unit for which the financial statements are created according to the legal provisions requirements. An company may include one or more codes. A company’s financial statements also form the basis consolidated financial statements. All codes of the company within a company must use the same chart of accounts and exercise. However, each company code may have a different local currency.
The smallest organizational unit of external accounting for which a complete, autonomous, accounts can be created. This includes the entry of all transactions that must be posted and the creation of all the legal individual financial statements such as balance sheet and profit and loss account.