Test LS2

The General Ledger Implementation team is using the file-based data import (FBDI) template to load chart of account mappings. While loading data from the interface, they want to change only the subset of records, because they have created only a subset of mapping data. Which mode should the team use while importing chart of accounts mapping rules?. . Update. Increment. Replace.

You redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some need to be updated and others need to be deleted. What is the most efficient way to achieve this? What should you do to allow access to the ledger?. By using Cross -Validation Rules Import file-based data import (FBDI). On the Manage General Ledger Security page. On the Manage Cross Validation Rules page. By creating a Cross-Validation Rules desktop-integrated spreadsheet.

You want your sales representative to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?. Geocoding. Validation. Address Clreansing. HZ_GEO_IDENTIFIER_SUBTYPE lookup.

You need to add new transactional attributes to the journal approval notification in an implementation project. Which two Business Intelligence catalog objects should you copy (or customize) and edit?. Sub template. Output type. Layout Template. Data model. Style template.

When will intercompany processing balance a journal using accounts identified here dor the UK Ledger?. When the journal is balanced by the second BSV. 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 the second or third BSV. When there is a many-to-many journal and you want to use a clearing company.

You are defining intercompany balancing rules thar 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 true?. You must define chart of accounts rule to ensure that intercompany balancing will always find a rule use to a generate balancing accounts. You must define intercompany balancing rules for all sources, categories, and transaction types. You can create a rule for all sources and categories by selecting the source Other and the category Other. Intercompany balancing evaluates the rules in this order: Ledger, legal entity, chart of accounts, and primary balancing segment value.

An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?. Primary balancing segment rule. Ledger-level rule. Chart of accounts rule. Legal Entity-level rule.

The intercompany accountants on the cloud project are trying to reconcile intercompany balances using the latest intercompany reconciliation report. However, they have some concerns about the information presented in the report and want you to clarify the content in the standard reconciliation report. What is included in the intercompany reconciliation report?. It displays all clearing company balances for the period. It displays ledger balancing lines generated when the primary balancing segment (BSV) is in balance but not the second or third BSVs. It displays the intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction.

You want to run a Financial Reporting Web Studio report from Financial Reporting Center but it is not displayed as a choice. Which two actions must you perform for it to appear?. Save it in the My Folders directory. Upload it to Financial Reporting Center. Download the report to your local drive. Save it in Shared Folder/Custom/Financials directory.

Which two allow access to the BI catalog for creating an Oracle Transactional Business Intelligence analysis?. Reports and Analytics. Scheduled processes. Business Process Management Workspace. Universal Content Management Workspace. Enterprise Performance Management Workspace.

You want to create an Ad Hoc Analysis in Smart View. You enter the following dimensions for the report and click Refresh in the POV. You get Missing instead of a balance. What value did you not specify, which resulted in this?. Product. A particular currency. Intercompany. Cost Center.

As part of your cloud migration project, you are using the Create Budgets in a Spreadsheet option to load your budget balances into the General Ledger balance cube. Your FYXX Budget is not appearing in the Budget Name list of values. What are the reasons for this? (Select only 1 answer). A value for the budget scenario is not created. The Publish Chart of Accounts dimensions and Hierarchies program to the balance cubes. Budgeting in not enabled in the Ledger options.

You are using the Create Budgets in a Spreadsheet option to load your budget balances into the General Ledger balances cube. Your FYXX Budget is not appearing in the Budget Name list of values. What are two reasons for this?. Publish Chart of Accounts Dimension Members and Hierachies to the Balances Cube has not been run. Transfer Budget Balances to Budget Cubes has not been run. The Create Scenario Dimension Members program has not been run. Budgeting is not enabled in the Ledger options. A value for the budget scenario is not created.

In a primary ledger, under the System Options, in the Close section, the Prevent General Ledger Period Closure When Open Subledger Periods Exist option has been selected. For which subledger can you opt out of the Period Close Checking feature by using the ORA_GL_INCLD_STRICT_PRD_CLOSE lookup?. Order Management. Lease accounting. Accounts Payables.

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 136,550 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.3755 USD. What two statements are true about the resulting revaluation run?. The original journal entry in Euros is updated. The original journal entry in Euros remains the same. You have an unrealized exchange gain recorded. You have an unrealized exchange loss recorded. There is no unrealized exchange gain or loss calculated.

For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Bassed Data Interface (FBDI). Whats happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?. Historical rates are converted into an average rate (original and new rate). The existing historical rate is deleted. Nothing, existing historical rates are not updated. The historical rate is replaced.

All your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They perform intercompany accounting. What is Oracle’s recommended approach for performing consolidations?. Use General Ledger’s Financial Reporting functionality to produce consolidated report by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment. 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. Define multiple ledgers for consolidation and report on the ledger set.

You can run predefined reports to reconcile subledger application balances to General Ledger balances. Which attribute must you set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report?. Star Date. End Date. Third Party Control Account. Financial Category.

You are setting up Close Monitor and want to vie high-level profit and loss results for each ledger. What should you associate with the ledger set to achieve this?. OTBI report. Trial Balance report. Financial Reporting Web Studio report. Account group.

Which feature do you use to achieve multi-step cascading allocations?. Formulas. General Ledger journal entries. Rule sets. Point of View (POV).

You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud. The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger. The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar. Which conversion level would you recommend to keep a thin secondary ledger?. Adjustment only. Journal ledger. Balance level. Sub-ledger level.

The cloud client is about to report in financials balances from the GL Balance cubes. They want to know when summarized level of the dimensions are updated. Which two statements are true about dimension balances in General Ledger Cubes?. They are updated automatically when the general ledger period is opened. They are automatically updated when you enter a manual journal. They are automatically updated when the transaction run. They are automatically updated when you load spreadsheet journal into the gl_interface table.

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results. What is Oracle’s recommended practice when this occurs?. Enter another adjusting journal entry in the target currency to true up the balances. Translate only the adjusting journal entry. Rerun Revaluation and then rerun Translation. Rerun Translation and then reconsolidate your results.

A subsidiary company is required to report to the parent company on a monthly basis. The subsidiary is in another country and there is no requirement to have daily balances. The objective is to minimize data stored in the reporting currency. Which data conversion level should you recommend?. Journal Level. Subledger level. Balances level.

To ensure that only correct account code combinations are created and inserted into the GL Code Combination table, a cloud customer has decided that all new account code combinations must be validated against both cross-validation rules and cross-validation combination sets. Whats is the maximum number of segments that can be used to define a new set while designing cross-validation combinations sets?. 3. 2. 5. 4. 30.

You entered a cross-validation rule to prevent the balance sheet cost center (000) 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, 01-000-5105-000, and 01-000-7640-00 Which two statements are true about cross-validation rules?. They will validate and apply to new and existing account. You must run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules. You must run the Cross-Validation Rule Violations process to list and optionally disable combinations that violate rules. They will validate and apply to new accounts only.

You notice that a lot of erroneous address data is being saved. How do you ensure thar only valid addresses are entered in the system?. Redefine the location structure. Define the Geography Validation for Country option to Error. Redefine the Geography hierarchy. Define the Geography Validation for Country option to No Validation.

A client wants to change the branding logo on the journal approval email notification. Which business intelligence object should you copy or customize and edit with the new requirements?. Subtemplate. Layout Template. Data Model. Data source.

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?. Create two different value sets for the company and intercompany segments. Share the same value set for the company and intercompany segments. Define the intercompany segment with a default value. Define the company segment and assign both the primary balancing segment and intercompany segment labels. If Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance, you are required to create cross-validation rules.

Your customer uses Financials Cloud, Projects and SCM. Which two statementsare true about intercompany accounting for these products?. Each product has its own Intercompany Accounting feature that needs to be configured separately. Intercompany balancing rules in General Ledger need to be mapped to the intercompany configuration in each product. Intercompany balancing rules are defined centrally and applied across Financials and Projects. In Financials Cloud, intercompany balancing rules are used to balance both cross-ledger allocation journals and single-ledger journals.

An Oracle Fusion Cloud Customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?. Legal entity-level rule. Ledger-level rule. Chart of Account rule. Primary balancing segment rule.

You are degining an income statement report using Financial Reporting Web Studio. Users of the report need to be able to nalyze the balances directly from the report. What should you enable to allow this?. Drill Down in Report Functions. Drill Trhougt in Grid Properties. Allow Expansion in Report Functions. Nothing. All reports are drillable.

You have been asked to create a new Smartview analysis for your Implementation Project. While Oracle provides a default member value for many of the dimensions to simplify report writing and submission, which of the given dimension has a default member value that does not have to be selected before running the analysis?. Ledger. Balance Amount. Accounting Period.

After users acceptance testing of the new Oracle Fusion Cloud System, the company’s accountants report that they want to be notified of anomalies in certain account balances in real time. The anomalies should include an increase or decrease that is above or below a percentage amount threshold. What is the best way to meet this requirement?. Create an Account Group using Account Monitor. Open a Smart View file saved on your desktop. Use Account Inspector. Perform an account analysis online.

You have exporter data from your budgeting application into a .csv file. What should you use to load that data into General Ledger?. Budget journal spreadsheet. File-Based Data Import. Enterprise Resource Budget Integrator. Application Developer Framework Desktop Integrator.

You want to monitor the close process of all your financial subledger and ledgers, including a consolidated Profit and Loss position. How can you quickly obtain this information?. Run Closing Status reports. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers. Access each sibledger’s calendar and General Ledger’s Manage Accounting Periods page to view the status of each period. Use Close Monitor in the General Accounting dashboard.

All your subsidiaries reside on the same application instance, but some require a different chart of accounts and/or accounting calendar and currency. Whats is Oracle’s recommended approach for performing consolidations?. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Translate balances to the corporate currency, create chart of accounts mapping to the corporate chart of accounts, then transfer balance to the corporate consolidation ledger using Transfer Ledger Balances program. Use Oracle Hyperion Financial Management for this type if complex consolidation. 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 the ledger set.

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?. Financial reports with embedded charts. Smart View. Account Inspector and its charts. Account Monitor.

You are capturing rental costs for a building in a corporate cost center. At month end, you 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. Where do you reference the statistical balance within the allocation component?. Basis. Source. Offset. Target. Allocation Range.

You enter the following information on the Companies and Legal Entities tab of the Rapid Implementation Spreadsheet: Assuming currency is left blank in the Ledger worksheet, how many ledgers will the process create?. 5. 3. 4. 6.

The cloud client is about to report on financial balances from the GL Balance cubes. They want to know when the summarized levels of the dimensions are updated. Which two statements are true about dimension balances in General Ledger cubes?. They are updated automatically when the general ledger period is opened. They are automatically updated when you enter a manual journal. They are automatically updated when you load a spreadsheet journal into the gl_interface table. They are automatically updated when the translation process is run.

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', What three exceptions will prevent closing of the accounting period?. Pending intercompany transactions. Pending transaction in General Ledger interface. No pending transaction in the General Ledger Interface table. Closed subledger accounting periods exist. Intercompany transactions are completed. Open subledger accounting periods exist.

After completing a business requirement mapping session, it is decided that only single-currency journals will be entered for this company. On which two objects should you enable "Limit a Journal to a Single Currency" to fulfill this requirement?. Journal category. Journal lookup codes. Journal sources. Profile option. Ledger options.

You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud. The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar. Which conversion level would you recommend to keep a thin secondary ledger?. Sub-ledger level. Adjustment only. Balance level. Journal ledger.

Which two statements are true about using account hierarchies for reporting and allocations?. Child values in these hierarchies can belong to only one parent. Hierarchies for reporting and allocations have to be published to Essbase cubes. 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.

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 shows 01-110-7699-00 (where the segment labels are Primary balancing segment - Cost center - Natural account - Intercompany segment). However, 110 does not appear in the list of values for the accountant to select in the suspense account. What is the reason for this?. 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. The General Accountant does not have the Financials Application Administrator role assigned, and, therefore, has view-only privileges on this page. A cross-validation rule is in place that prevents the resulting combination from being created.

Which three are considered legal jurisdictions?. Group of Countries. Identifying Zone. State. Single Country. Post Code.

You notice that a lot of erroneous address data is being saved. How do you ensure that only valid addresses are entered in the system?. Define the Geography Validation for Country option to Error. Redefine the geography hierarchy. Define the Geography Validation for Country option to No Validation. Redefine the location structure.

Your Oracle Fusion Cloud client needs to store balances such as floor space, number of employees, quantities purchased for use in journal allocations, and financial reporting. (Double Check the answer) Currently, in their test environment, they are unable to record statistical amounts. What is the reason?. The currency STAT does not have the ISO currency flag enabled. The currency STAT does not have the statistical unit type enabled. The ledger currency does not have the derivation flag enabled.

Which assignee type allows an approval to be routed to multiple people at the same time, but requires the approval of only one person?. Multiple. Single. Serial. Parallel.

Your new Oracle Fusion Cloud customer has a requirement to report average daily balances on balance sheet accounts only. Which account in ledger options needs to be set up to achieve this?. Net income account. Cumulative translation adjustment account. Rounding account. Daily net income account.

You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable 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?. Ledger-level rule. Legal entity-level rule. Chart of accounts rule. Primary balancing segment rule.

Your customer uses Financials Cloud, Projects, Inventory, and SCM. Which two statements are true about intercompany accounting for these products?. 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. Each product has its own Intercompany Accounting feature that needs to be configured separately. Intercompany balancing rules in General Ledger need to be mapped to the intercompany configuration in each product.

You need to have invoices generated for certain intercompany transactions. Where do you enable invoicing?. Manage Intercompany Organizations. Manage Intercompany System Options. Manage Intercompany Transaction types. Manage Intercompany Receivables assignment.

Which two statements are true about the Intercompany Reconciliation report?. It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison. You can only drill down to the General Ledger journal and then from there to the Subledger journal entry. It displays the intercompany receivables and intercompany payables balances in summary for a period. It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not. It displays all clearing company balancing lines for a period.

When creating your financial statements, you want a chart such as a bar graph to be included in the report output. Which two reporting tools allow you to achieve this?. Financial Reporting Studio. Financial Statement Generator. Account Inspector. Smart View.

Which three are column types for an Oracle Transactional Business Intelligence subject area?. Attribute. Hierarchy. Metric. Data Model. Fact/Measure.

Your Oracle Fusion Cloud financial team wants the flexibility to produce internal basic financial reports using the power of a spreadsheet Which Smart View tool should you recommend to produce report templates that can regularly generate income or balance sheet statements?. Smart Slices. Smart Queries. Account Groups. Query Designer.

You are using Oracle General Ledger (GL), Oracle Payables, and Oracle Receivables and you want to prevent the closure of the GL period if the corresponding subledger period is not closed. How do you achieve this?. Opt in to the Prevent Period Close option for the offering. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes. Set the relevant option on the Specify Ledger Options page.

End users are to close the first accounting period but are unsure about the translation process. Which statement is true about the translation process?. It should be run before posting Period Close adjustment entries. It can be used only to translate balance sheet accounts. It can be used only for translating the balances of secondary ledgers. Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.

You can run predefined reports to reconcile subledger application balances to General Ledger balances. Which attribute must you set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report?. Reconcile. Financial Category. Start Date. Third Party Control Account. End Date.

You are capturing rental costs for a building in a corporate cost center. At month end, you 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. Where do you reference the statistical balance within the allocation component?. Basis. Source. Target. Allocation Range. Offset.

You have been hired to add a new subsidiary to the corporate enterprise structure within the customer's Oracle Fusion Cloud. The subsidiary will capture transaction information from the Subledgers in the local currency under International Financial Reporting Standards (IFRS), and under local GAAP for corporate reporting requirements, which will be reported via a secondary ledger. The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. Most of the accounting between IFRS and Corporate GAAP is similar. Which conversion level would you recommend to keep a thin secondary ledger?. Subledger level. Balance level. Journal ledger. Adjustment only.

Which two are predefined roles in General Ledger?. General Accounting Manager. General Accounting Supervisor. General Accounting Clerk. General Accountant.

which two are valid data access SET TYPE?. Read only access. Full Ledger. Read and write access. Primary balancing segment value. Full Access.

Which two statements are true about infotiles and infolets?. You can refresh infolets to see up-to-date data. Infotiles pull data from a Smart View analysis. Infolets are accessed only from the News Feed home page layout. You can create your own user-defined infolets. Infotiles have Front view. Back view, and Expanded view.

Your current Oracle Fusion Cloud implementation project includes the configuration of multiple ledgers per country and the setting up of accounting automation to drive journal processing efficiencies. In a particular country (which has a primary, secondary, and multiple reporting currency ledgers), there is a requirement to exclude the country's journal processing from accounting automation. If you enter a ledger set (including all ledgers for that country) on the Exclusion tab of Manage Accounting Automation, what is removed from accounting automation processing?. Just the primary ledger. The secondary and reporting currency ledgers only. The primary and reporting ledgers only. The primary, secondary, and reporting currency ledgers.

Users 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 General Accounting Manager role to those users. Create a data access set that allows access to the UK Ledger only without assigning it to a user/role combination. Assign the UK reference set to the user/role combination. Assign the data security context value of UK Ledger to the user/job role combination.

Which two can you use to import geographical data?. ADF desktop integration. Geographical data providers. File-based data import (FBDI). SQL Data loader.

What are two uses of the Column Flattening and Row Flattening features?. Optimize parent/child relationships. Provide audit Trail of trees & Versions. Set the status of a tree to pending review. View information for runtime performance. Create additional versions of a tree.

Your customer is a financial institution that needs to maintain average daily balances (ADB). Which statement is true about this functionality in Oracle Fusion Cloud applications?. When using ADB, you must define a transaction calendar and assign it to your ledger. Average balances are maintained for both actual and budget balances. Average balances are stored for both subledger and general ledger balances.