If company codes within your group do not require a special chart of accounts for external reporting then as an alternative to your legal reporting, you can use country chart of accounts. Country COAs are created like an operating chart of account (COA) and assigned to the company code in addition to the operating COA.
In this case, you can use controlling area for your internal reporting as all the company codes will have same operating COA. After the assignment of operating and country specific chart of account to your company code, a field “alternative account number” in the company code segment of your operating COA’s gl master will be created.
The country COA number is to be entered in the alternative account number field of gl master to get your operating and country specific COA linked. One country specific chart of account can be assigned to only one gl a/c of operating COA.
One of the criteria to get internal reporting from your controlling area is to get assigned same operating COA to all those company codes which are assigned to a controlling area. Financial transactions are posted to operating COA from where it is posted to controlling.
If you have 5 company codes in 5 different countries which require their country specific legal reporting then all these 5 company codes can be assigned with one operating COA and 5 country specific COA to get the result.
SAP has delivered standard country specific COA for different countries which can be used for your country. You can copy such COA and rename it as per your requirement. After such creation you are also required to create your country specific financial statement version to get your financial statement specific to different countries.