Chart of Accounts and it's types

Charts of accounts can have three different functions in the system:
•        Operating chart of accountsThe operating chart of accounts contains the G/L accounts that you use for posting in your
company code during daily activities. Financial Accounting and Controlling both use this
chart of accounts.
You have to assign an operating chart of accounts to a company code.
•        Group chart of accountsThe group chart of accounts contains the G/L accounts that are used by the entire
corporate group. This allows the company to provide reports for the entire corporate
group.
The assigning of an corporate group chart of accounts to a company code is optional.
•        Country-specific chart of accountsThe country-specific chart of accounts contains the G/L accounts needed to meet the
country's legal requirements. This allows you to provide statements for the country's legal
requirements.
The assigning of an country-specific chart of accounts to a company code is optional.