960-21 Oracle Cloud GL 03

Identify three functions of Functional Setup Manager. Provide a central place to access and perform all of the setup steps across Fusion application product. Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted. Automatically mark the status of tasks as Completed after they have been completed. Assign setup tasks to individuals with due dates where users must manually update their completion status. Centrally manage the close processes across subledgers and ledgers.

You are required to change today's daily rates for converting GBP to USD. What are three ways in which you can update existing daily rates?. Use the spreadsheet loader from the Currency Rates Manager. Import daily rates through the Daily Rates open interface table. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area. Edit existing transactions and update the rates manually.

You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies. Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?. Complete Accounting Configuration. Suppliers and Customers. Banks, Bank Accounts, and Branches. Chart of account values, accounting calendar, and ledger. Setup data for Receivables and Payables product.

You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts. What is the solution?. Use the Open Account Balances Listing report that has balances by customer. Use the Third Party Control Account feature. Use Supporting References to capture customer classification information. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).

Which two statements are true regarding how Intercompany Balancing Rule, are defied?. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories. You can define different balancing rules for different combinations of journal sources journal categories, and transaction types. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value.

Journal approval uses Approvals Management Extension (AMX). Which AMX builder method is most effective in routing the journals to the Accounting Manager when the General Ledger Accountant enters the journal?. Supervisory level based on HR Supervisors. Job level. Position. Approval Group.

You want to define a tree or hierarchy for use in reports and allocations. What three aspects should you remember when creating the tree?. You need to flatten the rows to be able to use drill down in Smart View and you must publish tree to view the hierarchy in Essbase cubes. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes. The tree should have at least two tree versions to reduce report and allocation maintenance. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBi). It is fine to have the same child value roll up to two or more different parent values.

You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identity the step that is not correct when implementing this integration. Analyze external system transactions. Capture accounting events. Determine the accounting impact of transactions. Create the accounting in the source system and then import the journal entries into subledger accounting.

Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority What should be implemented for this type of security?. Data Access Sets. Cross-Validation Rules. Segment Value Security. Role-Based Access.

Which two General Ledger work would you assign to all your entry-level General Ledger accountants?. Journals Work Area. Period Close Work Area. Financial Reporting Center. General Accounting Dashboard.

Your customer is expanding its operations. You defined a new ledger and several business units. However, you are unable to assign the newly generated data roles to existing Accounts Payables and Accounts Receivables users in the shared service center. What should you do to correct the problem?. Open the Oracle Identity Management (OIM) and make sure the data roles were created. Open the Manage Users page and make sure the employees at. Open Access Policy Manager (APM) and assign the roles manually. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.

You need to distribute departmental expense reports to 100 department managers in your organization. The report format is the same, but the department values differ. What in the most efficient way to achieve this?. Set the Department segment as a User Point of View (POV) and submit a report batch and schedule it to run for every department Send the different batch outputs as PDF attachments via email to different users. Create a single report for all departments. When department managers log in to Financial Reporting Center, they will only be able to view their department‘s data based on Segment Value Security Rules. Set up Bursting Options for your batch to prepare multiple versions of a report from a single process. When defining the report, make the Department Segment a prompt and when users view the report, they can change the prompt to their department.

Which two types of journals can be automatically routed through the journal approval process?. Allocation journals. Revaluation journals. Manual journals. Subledger journals. Journals imported from third-party systems.

Your customer has only licensed Fusion Financials and wants to use approval workflows. Using which page to enter users and assign roles does Oracle consider best practice?. Manage Users. Hire a New Employee. Oracle Identity Management (OIM). Policy Manager (APM). Financials not a stand-alone product.

You need to build a complex account rule. Which four value types can you use in your definition?. Value Set. Constant. Existing Account Rule. Account Combination. Mapping Set. Source.

Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type. What is the solution?. Create two journal line rules with a condition of supplier type. Create an Account Rule with 31 rule elements using one condition for each expense type and another for supplier type. Create an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any condition.

Your customer is closing their period and they are using Fusion Intercompany to create physical invoices in Fusion Payables and Receivables. What is the correct order of steps to close Fusion sub ledgers, Fusion Intercompany, and Fusion General Ledger?. Close Fusion Payables and Receivables periods, close the related intercompany period, and then close the Fusion General Ledger's period. Close Fusion Payables and Receivables periods, close Fusion General Ledger, and then close the related intercompany period. Close the related intercompany period, close Fusion Payables and Receivables periods, and then Fusion General Ledger. You only need to close Fusion Payables and Receivables periods followed by the Fusion GeneraI Ledger's period.

Your customer operates three shared services that perform accounting functions across 50 countries. What feature allows them to share setup data, such as Payment Terms, across Business Units?. Reference Data Sets. Business Units functions. None. Setup data is partitioned by Business Unit and must be defined separately per Business Unit. Data Access Sets.

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 required to enter a high volume of users into the system. What does Oracle consider best practice to do this?. Use SQL to populate the HR interface tables and load employees in bulk. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Fusion Applications. Use the "Hire an Employee" user interface to inter each user manually. Use the spreadsheet available in Oracle Identity Manager (OIM) to import users. Use the "Enter a Supplier" user interface to enter each user manually.

Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts. When should you reverse revaluation journals, if at all required?. Reverse them in the same period as the revaluation run. Both balance sheet and income statement revaluation journals should be reversed in the period. Never, because each period's revaluation adjustment is just for that period. The reversals must be done at the end of each quarter.

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.

You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between the balances in the subledgers, subledger accounting, and general ledger. Which three factors are responsible for these out-of-balance situations?. All sub ledger transactions have been entered but do not have complete accounting. Subledger transactions have been accounted and transferred to General Ledger but have not been posted. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger. Intercompany transactions have not been fully processed. Period Close processes,such as Revaluation, Translation, and Consolidation have not been performed yet.

You need to create a month-end reporting package for an upcoming Audit Committee meeting. You have 10 financial reports that you will need to share with executives and auditors. In which three ways do you accomplish this?. Using Workspace, assemble multiple reports into a book. Use a Report Batch to run reports at a specific time to create set of snapshot reports based on accounting information at that specific point in time. Users can drill down on snapshot reports for future analysis. The report contained in the book can be printed or viewed individually or as an entire book. Snapshot reports can only be viewed.

You transact in 50 different currencies and you need to define a high volume of revaluation definitions. Which two methods are Oracle recommended best practices for streamlining this process?. Define separate revaluation definitions for each class of accounts, currency, and different rate types. Use hierarchies and parent values in your revaluation definition. Share revaluation definitions across ledgers that share the same chart of accounts. Define one revaluation definition for all accounts (assuming all ledgers share the same chart of accounts) and simply change the parameters at run time.

You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?. Chart of accounts was not deployed. Accounting Configuration was not submitted. An Audit process needs to be successfully performed before a tree version can be set to Active. Two tree versions were not defined.

What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?. Define the hierarchy, then deploy the chart of accounts. The chart of accounts hierarchies will be generated automatically. Define the hierarchy, make sure the tree version is active, and then run the publish account Hierarchies program or the Publish Chart of Accounts Dimension Members and Hierarchies. Define the hierarchy and make sure the tree is active. The hierarchy will be system generated for. Define the hierarchy, make sure the tree is active, and the Publish check box is selected for the hierarchy.

Which two statements are true regarding the export/import of reports?. A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data. Reports on setup data can be used to compare and analyze how the data might have changed over time. To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist. a set of reports lists user names, suppliers, and customers that have been exported/imported. The export/import reports are available only for Fusion Customer Relationship Management.

You lust submitted the Accounting Configuration. Which two statements are correct?. You must define a Data Access Set to obtain full read/write access to the ledgers in the Accounting Configuration. A Data Access Set with full read/write access to the ledger is automatically created. Open the ledgers period to begin entering transactions. Verify the data roles created and assign them to the General Ledger users.

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?. Journal Category. Journal Source. Journal Batch. Journal Description.

What type of user must be defined before you can create an Implementation Project?. None.The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project. A full-time employee that has the FSM Superuser role assigned. None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access. Implementation Users. All roles that will be used throughout the implementation.

What's the difference between subject areas that append the word 'Real Time' and those that do not?. There is no difference. ,The 'Real Time' subject areas are based on real-time transactions and all others are based on Historical data. The 'Real Time' subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse. The 'Real time' subject areas are based on sub ledger transactions and all others are based on general ledger balances.

Which two statements are true if a journal description rule is defined with sources? (Choose two.). The description rule may be assigned to either the header or line level, or to both. The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set. The description rule can only be assigned to the journal line level. The description rule can only be assigned to the header or line level. You cannot assign journal description rules to sources.

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 regarding cross-validation rules? (choose two) (Examen). The rules will validate and apply to new and existing accounts. The rules validate and apply to new accounts only. There is no need to create cross-validation rules if dynamic combination creation allowed is not enabled for your chart of accounts instance. You need to run the cross-validation rule violations process to allow rules to apply to existing combinations that violate rules. You need to run the cross-validations rules process to list and optionally disable combinations that violate rules.

You are creating values for the chart of account value set that you are planning to use for the account segment within your chat of accounts. You are not able to assign an account type. What is the reason for this? (examen). 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 creating values before assigning the value set to the structure. You have not set the allow posting attribute for the value set.

You want to achieve multi-step cascading allocations, which feature do you use? (Examen). Rulesets. POV. GL journal entries. Formulas.

The Create Accounting program could not determine the debit side of the journal entry. Which component of Subledger Accounting determines the debit or credit side of a journal entry?. Journal Line Rule. Journal Entry Rule Set. Journal Accounting Rule. Journal Balances Rule. Account Rule.

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? (Examen). 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 the 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 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.

A subsidiary company, in a highly regulated country, where there is al legal requirement 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 the local accounting convention. A reporting currency with the IFRS accounting convention. A primary ledger with the IFRS accounting convention. A secondary ledger with the IFRS accounting convention. A reporting currency with the local accounting convention.

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

When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two) (Examen). Financial Reporting Studio. Smart View. Oracle Financial Statement Generator. Financial Reporting Center.

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? (Examen). 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.

In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles?. They can format certain tales by hiding and showing columns, moving columns, and resizing columns. Users have very little control configuring their Springboard and Work Areas; they can only resize. They can have the System Administrator configuring page for them using Page Composer. They can user “+” under the Apps section of the News Feed Homepage.

You entered the following information in 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?. 6. 3. 4. 5.

Which two statements are true regarding the Intercompany Reconciliation Report? (Examen). You can only drill down to the General Ledger journal and then from there to the subledger journal entry. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison. This report displays only the reconciled transactions you need to further process automatic reconciliation to reconcile the unreconciled transactions. This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not. This report displays the intercompany receivables and intercompany payables balances in summary for a period.

You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger is not closed. How will you achieve this? (Examen). Opt in to the Prevent Period Close option for the offering. Set the relevant option on the Specify Ledger Options page. Nothing, this option is enabled automatically. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes.

You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions. What should you configure?. A Provider and Receiver distribution Set. Intercompany transaction type default accounts. The AutoAccounting Definition. The Transaction Account Definition.

You have set up a supporting reference with balances to capture revenue by account manager. Which option should you use to view the supporting reference balances?. An Account Group. An OTBI analysis. A Smart View analysis. General Ledger inquiries and reports.

Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization. After opting in the new feature Spend Authorization with Budgetary Control. What additional three actions need to be accomplished to activate this feature?. Enable Payment Request Subtypes. Rebuild the GL Balance Cube. Create a Payment Process Profile. Rebuild the Budgetary Control Cube. Enable spend authorization.

Your company has a legal entity in the UK, US and Canada. They can all share the same chart of accounts buy are required to transact and report in their local currency. What is the minimum number of ledgers you need and why?. One, because they can all share the same chat of accounts. Three, because each requires a different currency. Two, because the US and Canada can share the same ledger because they are in North America. Four, because the UK has statutory requirements, and you will need a separate ledger for statutory reporting.

You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in. What Calendar format should you choose? (Examen). Calendar. Fiscal. Year. Period.

Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Examen). They are updated automatically when the General Ledger period is open. New dimensions can be added to a General Ledger balances Cube. They are updated automatically when the revaluation process is run. A new Balances Cube is created for a unique combination of Ledger and Currency. They are updated automatically when the Translation process is run.

Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level. Which two recommended would you give your customer?. Additional intercompany rules will need to be defined for the two additional balancing segments. Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journals lines to balance the entry. Additional intercompany balancing and clearing options will need to be defined. When entering journals manually, the customers will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal.

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