In at least one embodiment of the present invention, a computer implemented method of financial reporting using a multi-company accounting system is provided. The method comprises specifying at least one distinct Natural Account Segment per report line of a plurality of report lines of the financial report via input from an interface user into the multi-company accounting system to define a report setup. The Natural Account Segment defines a specific type of one of an asset, liability, owner equity, revenue and expense account. The report lines are arranged into a tree view with the multi-company accounting system. The tree view defines a hierarchical format for the financial report and is displayable on a display of a computer arrangement.