Cost Center Dimension

I am using Microsoft Dynamics AX 2012,

Can I know is there any option for getting the report in Cost center wise, means P/L account reports etc…

before I was using Tally ERP, now we changed to Dynamics.

I think this is can be achieved by using Financial Statements.

http://technet.microsoft.com/en-us/library/aa571532.aspx

Thank u Mr.Kranthi for your response,

My question is cost center wise allocation of exps and getting the report is possible or no ?

if you have any idea abt this let me know .