How SAP support multiple Accounting standards

My company has a branch in a country so the branch must confirm to local accounting standard.
But we also want the branch to report according to head quarter accounting standard.
The two accounting standard differ mainly in:
1. Chart of Account
2. Financial Year cycle: one is from 01-Jan to 31-Dec, another is from 01-May to 30-Apr.
Please tell me how SAP support this?
thanks
Giang

Hi
If you are working in ECC, You can try the option of defining one additional leder for the additional reporting purpose with different reporting period.
Regards

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