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I am trying to use Bitcoin's code for some other application.

Is it possible to create a genesis block so that I can initially assign some coins (bitcoins) to some users. For e.g.
The Genesis Block contains the following information:
Address A has 10 Bitcoins
Address B has 5 Bitcoins
?

What changes do I have to make ?

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If you do this, you'll be very disappointed even if you succeed. The genesis block is ignored in terms of effects on the state of coins. The actual Bitcoin genesis block's outputs are effectively unspendable, even if Satoshi showed up with the key.

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See here for some details on how to do this -

https://bitcointalk.org/index.php?topic=189350.msg2038801#msg2038801

You need to make an output script and include that script and the public key for it in the right place in the source code.

See here for a useful script to create a genesis block using various algorithms for different coins (and which you can plug the pubkey into) -

https://github.com/lhartikk/GenesisH0

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