The impact of Departments on Financial Reporting

Hey all,

We are on Netsuite One World SWE version. We are just now in the implementation stage. We are very curious about when setting up Financial Reports such as an Income Statement, how much or how far we can drill down in detail. Especially when using Departments...

We are getting mixed opinions on whether to have a parent account and child accounts within the Chart of Accounts. Or to utilize the ability to assign Departments and Classes...sooooooo....does the financial reports utilize these fields the way it looks...

Can someone tell me the how granular we should break out our accounts with product line, if we want views within those product lines, or does these global fields "Department, Class, and Location" have this ability to break out these transactions in an income statement?