The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, italy and India).
Which three labels are required when designing the chart of account structure for this project?
Secondary Balancing Primary Balancing Intercompany Segment Cost Center Natural Account.
A Company Implementing Oracle GL has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger.
The two accounting standards are very close. Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?
Subledger level FBDI Level Adjustment Only Level Journal Level Balance level.
After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable “Limit a Journal to a Single Currency”? (Choose two.)
Journal sources Journal lookup codes Profile option Ledger options Journal category.
You want to achieve multi-step cascading allocations, which feature do you use? Point of View General ledger journal entries Rule Sets Formulas.
You are capturing rental costs for a building in a corporate cost center and at month end, want to allocate those costs to the cost centers in the building based on the floor area occupied.
A statistical journal has been entered to record the floor area.
You use Calculation Manager to create the allocation.
Within the allocation component, where will you reference the statistical balance?
Source Offset Allocation Range Target Basis.
You are defining an income statement report using Financial Reporting Web Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?
Nothing. All reports are drillable
Allow Expansion in Report Functions. Drill Through in Grid Properties. Drill Down in Report Functions.
When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.
Which two reporting tools allow you to achieve this?
Financial Reporting Studio Account Inspector Smart View Financial Statement Generator.
Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of 100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD
What two statements are true for the resulting revaluation run? (Choose two.)
The original journal entry in Euros remains the same.
The original journal entry in Euros is updated. You have an unrealized exchange loss recorded. You have an unrealized exchange gain recorded. There is no unrealized exchange gain or loss calculated.
"Which two statements are true regarding the Translation process?
Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account. If necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process can only be used for translating the balances of Secondary ledgers.
The Transaction process can only be used to translate balance sheet accounts.
The Translation process should be run before posting Period Close adjustment entries.
"Which General Ledger Account is used to record exchange rate differences due resulting from running the translation process?
Entered Currency Translation Balancing Account Cumulative Translation Adjustment Account Suspense Account Rounding Account.
"You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What does Oracle consider best practice when this occurs?
Translate only the adjusting journal entry.
Rerun Revaluation and then rerun Translation
Rerun Translation and then reconsolidate your result
Enter another adjusting journal entry in the currency to true up the balances".
"Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?
Smart View Financial Reports with Embedded charts Account Inspector and its charts" Account Monitor.
"You want to specify Intercompany System Options. Which three factors should you consider?
Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
Whether to allow receivers to reject intercompany transactions
Automatic or manual batch numbering and the minimum transaction amount
Automatic or manual batch numbering and the maximum transaction amount
The approvers who will approve intercompany transactions".
"You can run predefined reports to reconcile subledger application balances to General Ledger balances.
Which attribute needs to be setup on the Manage Values page for chart of acounts segment values so that you can run the Payables to General Ledger Reconciliation Report or Receivables to General Ledger Reconciliation Report?
Reconcile
End Date
Financial Category
Start Date
Third Party Control Account".
"Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
Each product has its own Intercompany Accounting feature that needs to be configured separately. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
"You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type, such as Intercompany Sales. Which two statements are correct?
You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work. You can create a rule for all sources and categories by selecting the source ""Other"" and the category ""Other.""
If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle’s recommended method to define this chart of accounts?
Define the intercompany segment with a default value. Define the company segment and assign both the primary balancing segment and intercompany segment labels.
Share the same value set for the company and intercompany segments. Create two different value sets for the company and intercompany segments.
When will intercompany processing balance a journal using the accounts identified here for the UK ledger?
when the journal is not balanced by the primary balancing segment value (BSV)
when the journal is balanced by the primary BSV but not by second or third BSV when the journal is balanced by second balancing segment value
when there is a many-to-many journal and you want to use a clearing company.
"You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivables account.
The chart of accounts also has an intercompany segment.
Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?
Primary Balancing Segment Rule Chart of accounts rule Legal Entity Level Rule
Ledger Level Rule.
"Your customer has a number of Chart of Account Mapping Rules for their Primary and Secondary ledgers. You decide to use the FBDI template to load their rules.
Which two statements are true when using this method of entry?
it supports external integration using REST services You can download the template only from the Manage Chart of Accounts Mapping page
You can create, update and delete segment rules for a chart of accounts mapping
You can create, update and delete account rules for a chart of accounts mapping. .
"Which two delivered roles can access the full functionality of Functional Setup Manager,
Application Implementation Manager Functional Setup Manager Superuser Application Implementation Consultant Any functional user IT Security Manager".
You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
You have not set the Allow Posting attribute for the value set.
You are creating values before assigning the value set to the structure.
The Account Type qualifier has not been enabled when defining the value set.
You have not set the Allow Budgeting attribute for the value set.
"You are using the Create Budgets in a Spreadsheet option to load your budget balances into the GL balances cube. Your FYXX Budget is not appearing in the Budget Name list of values.
Which two are reasons for this? (Choose two.)
The Create Scenario Dimension Members program has not been run.
The Transfer Budget Balances to Budget Cubes has not been run.
The Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run. A value for the budget scenario has not been created. Budgeting has not been enabled in the ledger options.".
"You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
File Based Data Import The budget journal spreadsheet Enterprise Resource Budget Integrator Application Developer Framework Desktop Integrator.
"You entered a cross validation rule to prevent the balance sheet cost center (00) being used with Profit and Loss Accounts (4000-ZZZZ).
The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-00-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules? if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance you are required to create cross validation rules The rules will validate and apply to new and existing accounts
The rules validate and apply to new accounts only You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that voilate rules You need to run the Cross-Valdiation Rule Violations process to list and optionally disable combinations that violate rules".
User with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The Accounting configuration completed successfully.
What should you do to allow access to the ledger?
Assign the UK reference set to the user/role combination
Assign the security context value of the UK Ledger to the user/role combination
Assign the General Accounting Manager role to those users
Create a Data Access Set that allows access to the UK Ledger.
The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.
What is the reason for this?
The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page.
The general accountant has a segment value security rule assigned which restricts access to that cost center.
There is a primary balancing segment attached to the legal entity of the primary ledger. A cross validation rule is in place to prevent the resulting combination from being created.
"You have redesigned your chart accounts and need to update your existing cross-validation rules. There is a requirement for new rules, some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?
by creating Cross-Validation Rules desktop-integreated spreadsheet
by using the Manage General Ledger Security page
by using Cross-Validation Rules Import file-based data import (FBDI)
by using the Manage Cross-Validation Rules page".
"You want to be notified of anomalies in certain account balances in real time. What is the Most efficient way to do this?
Perform an account analysis online. Open a Smart View file saved on your desktop.
Create an Account Group using Account Monitor. Use Account Inspector.
When creating financial reports which two tools use data from the General Ledger Balances Cube?
Oracle Financial Statement Generator
Financial Reporting Web Studio
Financial Reporting Center Smart View.
"You are trying to run a Financial Reporting Web Studio report from Financial Reporting Center. However, it is not appearing as a choice.
Which are two reasons for this?
You have not saved it in the Shared Folder/Custom/Financials directory
You have not saved it in the MyFolders directory.
You have not downloaded the report to your local drive
You have not uploaded it to Financial Reporting Center.
"Which assignee type allows the approval to be routed to multiple people at the same time, but only requires the approval of one person?
Serial Parallel Multiple Single.
"All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What does Oracle consider the best practice approach to performing consolidations?
Use Oracle Hyperion Financial Management for this type of complex consolidation.
Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
Use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
"Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your general ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account. What happens to segments in your source general ledger, such as Program, that cannot be mapped Hyperion Financial Management?
The data is not transferred.
Data is summarized across segments that are not mapped to Hyperion Financial Management
Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management.
The unmapped segments default to future use segments in Hyperion Financial Management.
"The Cloud Client wants to add a global branding logo and more predefined transactional attributes to the journal approval email notification.
Which two BI catalog objects should you copy (or customize) and edit?
The Data Model
The layout-template
The Sub_Template
Output Type
The Data Source.
"There is a business requirement for a subsidiary company to report to the parent company on a monthly basis.
Given that:
The subsidiary is in another country from the parent.
There is no requirement to have daily balances.
The objective is to minimize the data stored in the reporting currency.
Which data conversion level should you recommend?
Spreadsheet level
Balances Level
Subledger level
Adjustment only level
Journal Level.
"In the implementation project, there is a requirement to add new transactional atributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit?
The layout template The Data Model The Sub Template Output Type The Style Template.
"On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the periods close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRO_CLOSE?
Receipt accounting Assets Order Management Revenue Management Receivables.
A subsidiary company, in a highly regulated country, where there is a legal requirements to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency. There is a requirement to report to the parent company (not local currency) using international financial reporting standards (IFRS).
Which two ledger types should be configured to address this reporting requirement?
a primary ledger with local accounting convention a primary ledger with the IFRS accounting convention a reporting currency with the local accounting convention a secondary ledger with the IFRS accounting convention a reporting currency with the IFRS accounting conventions.
Which three are considered Legal Jurisdictions? Identifying Zone Single Country State Group of Countries Post Code.
"Your company has two legal entities in the US (Balancing Segment Values (BSV) 101 and 102), one legal entity in France (BSV 401) and one legal entity in the UK (BSV 402).
Both US legal entities share the same ledger, whereas the UK and France have their own ledgers.
Assuming intercompany transactions are not being entered, what is the minimal action you can take and still configure the ledgers correctly?
You should assign a balancing segment value to identify each legal entity in each ledger You should assign a balancing segment value to identify each legal entity in the US Ledger
You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France
You should assign a balancing segment value to the ledger in the US and assign a balancing segment value to identify each legal entity in the UK and France ledgers. .
"You have a requirement to have invoices generated for certain Intercompany transactions.
Where do you enable invoicing?
the transaction batch
The transaction type
The transaction category
The transaction source.
"Intercompany balancing rules can be defined at the following levels: chart of accounts, primary balancing segment, legal entity and ledger. If balancing rules are defined at all four levels, which one takes precedence?
Primary balancing segment rules.
Legal entity level rules.
Ledger level rules.
Chart of Accounts rules.
"Which two statements are true regarding the Intercompany Reconciliation Report?
You can only drill down to the general ledger journal and then from there to the subledger journal entry.
The report displays the intercompany receivables and intercompany payables balances in summary for a period.
The report displays all clearing company balancing lines for a period.
The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSV's are not.
The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
"You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
Which format should you choose?
Year
Period
Fiscal Year
Calendar Year.
"You are setting up Close Monitor to view the high-level income statement results for each ledger. Which object must you select to view this?
a Financial Reporting Web Studio report
An OTBI Report
Account Group
Trial Balance Report.
You are planning to create an income statement using Smart View. Which Smart View tool should you use for this?
Smart Slices
Smart Queries
Ad Hoc Analysis
Query Designer.
Which two are valid Data Access Set types?
Read Only access
Full Ledger
Full Access
Primary Balancing Segment Value
Read and Write access.
You have noticed that a lot of erroneous address data is being saved. You want to ensure that only valid addresses are entered in the system.
How do you achieve this?
Define the geography validation for country option to No Validation.
Redefine the location structure.
Redefine the geography hierarchy.
Define the geography validation for country option to Error.
"You want your sales representatives to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?
Address Cleansing
Validation
HZ_GEO_IDENTIFIER_SUBTYPE Lookup
Geocoding.
You want to monitor the close process of all your financial subledgers and ledgers, including a consolidated Profit and Loss position.
How can you quickly obtain this information?
Use the Manage Accounting Periods page to view the status of all subledgers and ledgers. Access each subledgers’ calendar and General Ledger’s Manage Accounting Periods page to view the status of each period.
Use Close Monitor in General Accounting Dashboard.
Run Closing Status reports.
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis?
Scheduled Processes
Business Process Management Workspace
Reports and Analytics
Enterprise Performance Management Workspace
Universal Content Management Workspace.
"What are two uses of the Column Flattening and Row Flattening features? (Choose two.)
Create additional versions of a tree.
Set the status of a tree to active.
Optimize parent/child relationships.
View information for runtime performance.
Verify correctness of trees.
"You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)
You can have only one version of a hierarchy published to the Essbase cube at any time.
Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
Child values in these hierarchies can belong to only one parent.
Hierarchies for reporting and allocations have to be published to Essbase cubes.
You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?
Run the Chart of Accounts Deployment process
Ensure that parent values have the summary attributes set correctly.
Run the Publish Chart of Accounts Dimension Members and Hierarchies program
Make sure all users sign out of calculation manager.
Ensure that you did not assign children to child values. .
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