Financials Standard queries and Reports based on 2 chart of accounts

Eric-

Have you thought about setting up a company per country (to capture localizations) and then utilize the consolidation feature?

Best-  Christy

Hi, Eric,

I think solution you are describing is standard one for multi-national, multi-company groups. I am used to a solution where group common accounting standards (e.g. IAS or US GAAP) are supported by chart of account on code part A and General Ledger, and Statutory (local) standards by some other code part and Internal ledger. It is possible to have opposite solution as well (common in IL, local in GL), it depends on the way your organization is reporting internally - it makes sense if consolidation, internal elimination etc. are performed externally and you need a small set of supporting reports for internal reporting purpose. 
Anyway, to fulfill statutory requirements, you do not need normally a huge set of reports. In older versions of IFS I was using Business Analytics or Report Generator to build them (for code part element used for LCOA it would be useful to create attributes indicating account type and account group) - they usually were variations of trial balance (balance sheet, year result etc.). I am not very familiar with new reporting tool available in Cloud, Business Reporter, but I suspect it have similar capabilities.