How to define Chart Of Accounts??

Dear All,

We are going to implement the PeopleSoft Financials module and now going to define the Chart Of Accounts like:

1) Authority

2) Entity (Balancing Segment)

3) Department (Cost Centers)

4) Account (Natural Accounts)

5) Project( this is dependent on Cost Center) when ever any department is selected than for that only assigned projects must be showing in this Project field.

How to define these and from where we are going to define??

Thanks in Advance.........