What's the difference between business units in Oracle PeopleSoft and Oracle Fusion Applications?

Oracle PeopleSoft business units and Oracle E-Business Suite operating units have been combined to create the new Oracle Fusion Applications business unit functionality.

In Oracle PeopleSoft Enterprise, a business unit housed the configuration of only one business function.

A business unit can be configured for multiple business functions in Oracle Fusion Applications. The advantage is you no longer have to name multiple business units with the same name as you did in PeopleSoft Enterprise.

In PeopleSoft Enterprise, business units can be consolidated in a hierarchy. You can see the results of a single business unit or a set of business units. PeopleSoft Enterprise also enables you to produce financial statements for a business unit.

In Oracle Fusion Applications, this is accomplished by creating a business unit representation in a chart of accounts and building appropriate hierarchies.