-->Company is the smallest organizational unit for which individual financial statement can be drawn according to the relevant commercial law.
Company code is the smallest organizational unit for which complete, self-contained set of accounts can be drawn up for external reporting purposes
Company - A company is a legal entity or a organization which is to carry out a business and under a company you have lot of sub companies.
For Example
Tata is a company
TCS, Tata Power, Tata Steel, is a company code under a company TATA
Under Company code you have business area associated with it where the business areas may be scattered in different parts of the world where you can have reporting done for different business area or you can also call it as Profit Centre.
A company is the Group of company and company code is the all the companies for which u want separate books of accounts. Company codes are assigned to company for consolidation purpose.
Example: - reliance is the company
and RIL, Reliance infocomm, Reliance Petrochem etc are the company codes.
All these company codes are assigned to Reliance Company for consolidation purpose.
Along with that technical difference is COMPANY consists of 6 digit alphanumeric key where as COMPANY CODE consists of 4 digit alphanumeric key.
Company means Group Company for example: Tata Group
Company code means one of the company of its group ex:
Tata Chemicals, TCS, Tata Steels etc.
Company code is the smallest organizational unit for which complete, self-contained set of accounts can be drawn up for external reporting purposes
Company - A company is a legal entity or a organization which is to carry out a business and under a company you have lot of sub companies.
For Example
Tata is a company
TCS, Tata Power, Tata Steel, is a company code under a company TATA
Under Company code you have business area associated with it where the business areas may be scattered in different parts of the world where you can have reporting done for different business area or you can also call it as Profit Centre.
A company is the Group of company and company code is the all the companies for which u want separate books of accounts. Company codes are assigned to company for consolidation purpose.
Example: - reliance is the company
and RIL, Reliance infocomm, Reliance Petrochem etc are the company codes.
All these company codes are assigned to Reliance Company for consolidation purpose.
Along with that technical difference is COMPANY consists of 6 digit alphanumeric key where as COMPANY CODE consists of 4 digit alphanumeric key.
Company means Group Company for example: Tata Group
Company code means one of the company of its group ex:
Tata Chemicals, TCS, Tata Steels etc.
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