Reference Material:

https://aws.amazon.com/blogs/aws/new-use-aws-cloudformation-stacksets-for-multiple-accounts-in-an-aws-organization/
Cloud Formation Stack Sets allow you to roll out Cloud Formation stacks over multiple AWS accounts and in multiple Regions with just a couple of clicks. When we launched Stack Sets, grouping accounts was primarily for billing purposes. Since the launch of AWS Organizations, you can centrally manage multiple AWS accounts across diverse business needs including billing, access control, compliance, security, and resource sharing.