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SAP.CO.Standard Hierarchies

While you try to create cost center, system will pop up message 'There is no standard hierachy in the controlling area ***' since you haven't set in customizing.

You need to do like as following

1.Create Cost center group via T-code KSH1

2.Set cost center group as CCR. standard hierarchy while maintaining the controlling area via T-code OKKP

SAP.CO.Standard Hierarchies

3.Display or change standard hierarchy via T-code OKEON