When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation? Make sure to flatten the rows of the tree version Make sure the tree is active Make sure the tree version was published successfully Redeploy the chart of accounts.
You are setting up Close Monitor, which compromises a ledger set hierarchy definition. Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.) Accounting Calendar Legal Entities, Business Units, and Chart of Accounts Chart of Accounts Chart of Accounts and Business Units Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method.
You want to monitor the close process of all your financial subledgers and ledgers. 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 Run Closing Status reports Use Close Monitor in General Accounting Dashboard.
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle’s recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used? Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively. Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively. Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
Which feature outside of reporting and analysis leverages the Essbase cube? Revaluations and translation to revalue and translate currencies stored in the Essbase cube Calculation manager to perform allocations based on multidimensional balances and budgets Period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync Journal entries and journal approval to create journals that update balances to the cube directly.
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do? Never use the Outer Point of View (POV) Always use the Outer Point of View (POV) Specify Run Time Prompts (RTP) Only specify segment values in formulas.
After loading your budget data into General Ledger Cloud, you can view budget balances using these features. Which feature does not belong on the list? Application Development Framework Desktop Integration Budget Balances Report Account Monitor Smart View Account Inspector.
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.) The control budget structure has all the chart of account segments as budget segments Control budgets are always absolute to generate encumbrance accounting A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore A control budget can allow override rules only if the control level is absolute A control budget can be associated with a different calendar than accounting calendar.
You need to define multiple allocation rules as efficiency as possible. Which three components can be reused across allocation rules? (Choose three.) Point of View (POV) Formulas Run Time Prompts (RTP) Rule Sets.
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page? Budget Controller Budget Group Account Group Budget Account Group Application Development Framework Desktop Integration (ADFdi).
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.) The purchase order is canceled or finally closed or rejected without performing any receipt or invoice When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount The requisition reserved successfully undergoes amendment and is rejected in the reapproval When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management? Use the General Ledger’s Calculation Manager to define an allocation definition to eliminate entries that you can generate every period Use the spreadsheet template that is accessed from the “Create Journal in Spreadsheet” task and import the spreadsheet with the eliminating entries every period There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period.
Which reporting tool is best suited for submitting high-volume transactional reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml? Oracle Transactional Business Intelligence (OTBI) Business Intelligence Publisher (BI Publisher) Financial Reporting Center Smart View Oracle Data Visualization Cloud Service.
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.) When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products You can use hierarchies to define rules When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts The Segment Value Security rules do not take effect until you assign the rules to users and products.
You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.) Whether to enforce an enterprise-wide currency or allow 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.
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 Source Journal Category Journal Batch Journal Description.
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/19 was recorded for a purchase order. The invoice was entered on 5/5/19, but the invoice accounting date was 4/20/19. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/19. What is causing this? The actual accounting date was set up under the encumbrance accounting Default Date Rule The current transaction accounting date was set up under the encumbrance accounting Default Date Rule The subledger accounting option is set to system date The system date was set up under the encumbrance accounting Default Date Rule The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule.
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI). Which represents the appropriate upload steps? Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
You are defining an income statement report. You want to allow viewers of the report to be able to drilldown from report balances to the underlying transactions. What so you need to enable? Drill Through in Grid Properties Nothing. All report balances are drillable in all FR Studio reports Allow Expansion Report Functions.
Which three objectives must be considered when designing the chart of accounts? (Choose three.) Anticipate growth and maintenance needs as organizational changes occur Effectively manage an organization’s financial business Try to use all 30 segments and 25 characters per segment because you cannot change it later Consider implementing a single, global chart of accounts Limit the number of segments to those you need today to reduce data entry.
In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.) Application Composer Oracle Enterprise Repository Oracle Transactions Business Intelligence Financial Reporting Studio Smart View.
Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013. Which statement is true? If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting. What is Oracle’s recommended method for doing this? Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment.
Your customer uses Financials Cloud, Projects, Inventory and Procurement. 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 set up separately Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub.
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? Account Monitor Financial Reports with Embedded charts Smart View Account Inspector and its charts.
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing. What happens to the remaining $400 USD? Invoice type will have less funds available by $400 USD $400 USD will be expired and not available for use $400 USD will be added back to available funds Only obligation type will have $400 USD funds available Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD.
You have enabled budgetary control and have a control budget set to Advisory control level. For September 2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true?(Choose two.) No change Purchase order encumbrance will be released for $2,100 USD Funds reservation only happens for non-matched invoices, so the system will not reserve funds As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016 The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation.
You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account’s activities. What type of report will provide this type of information? Account Analysis Reports Aging Reports An Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances Journals Reports.
You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales. Which two statements are correct? (Choose two.) 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. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work. Setup 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.
The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration. Once the deletion process completes, what additional process must you run? Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.) Cloud customers can use both OTBI and OBIA OTBI allows you to create custom reports from real-time transactional data against the database directly OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications.
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.) 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 values.ys.
You entered a journal and the client is asking for the following information: The current account balance (and?) What the future account balance will be if the journal is approved and posted. How will you get this information? Query the account balance online Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances View the Projected Balances region in the Create Journals page Run a Trial Balance before and after posting.
You want to process multiple allocations at the same time. What feature do you use? Rule Sets Formulas General Ledger journal entries Point of View (POV).
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source. At what level can you override the default accounting attribute assignment? Journal Entry Rule Set Event Type Journal Line Rule Journal Entry Event Class.
You want to enter budget data in General Ledger Cloud. Which method is not supported? Entering budget journals Application Development Framework Desktop Integration (ADFdi) Direct budget balance updates from a Financial Statement in Smart View File-based Data Import.
Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.) You only need to assign the Legal Entity and Organization Contact You can only associate one Intercompany Organization per Legal Entity You must have implemented Payables Cloud and Receivables Cloud You must assign the corresponding Receivables and Payables Business Units.
What are the two purposes of a secondary ledger? (Choose two.) It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options It should not be used when trying to meet local accounting requirements It is used to main balances in a different currency only It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting It should only be used to main balances for processing performance.
You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding financial results. How would you achieve this? Use Smart View, which is an Excel Add-on Use Account Inspector that automatically creates graphs on financial balances When viewing the report, download to Excel and use Excel’s Charting features to create your bar graph When designing your financial statement using Financial Report (FR), embed a chart into your report.
What is the most efficient way to add a new year to the accounting calendar? Import the periods from a spreadsheet The application automatically populates the next year when you open the first period of a new fiscal year Add the periods manually Use the Add Year button.
Which subject area has been enhanced to allow you to drill down from OTBI General Ledger Reports to a General Ledger journal? General Ledger - Journal Transaction Balances Real Time General Ledger - Journal Balances Real Time General Ledger - Summary Journals Real Time General Ledger - Journals Real Time.
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted. Identify the two Oracle recommended ways to accomplish this. (Choose two.) Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee Use a report batch to run reports at a specific time to create a set of snapshot reports Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book Create a Smart view report, where the various sheets represent the different Financial Statements and send them the spreadsheet Use OTBI to create multiple reports that you save to a folder that only the users can access.
The expense account of airfare was erroneously assigned to the account type “Liability”. Which method should you choose to fix the problem? Deactivate the value Run the “Segment Value Inheritance” program Run the “Correct Misclassified Account” program Run the “Update Balance Cube Chart of the Accounting Dimension” program.
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle’s recommended practice when this occurs? Translate only the adjusting journal entry Rerun Translation and then reconsolidate your results Rerun Revaluation and then rerun Translation Enter another adjusting journal entry in the target currency to true up the balances.
Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal? Supervisory level approval Cost center based approval Dynamic Approval Groups Management Chain approval Approval Groups.
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice? Both are Partially Reserved The purchase order is Liquidated and the invoice is Partially Reserved The purchase order is Partially Liquidated and the invoice is Partially Reserved The purchase order is Partially Liquidated and the invoice will be Reserved Both are reserved The purchase order is Open and the invoice is Validated.
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table? Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.
Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.) Use the Freeze feature on the tables to scroll through large amounts of data Run a Business Intelligence Publisher report with Excel as the output format Export the table to Excel Detach the table to resize it to the maximum size of the monitor.
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.) Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions Define Journal Conversion Rules that exclude subledgers Assign a Subledger Accounting Method to the secondary ledger Define Supporting References with balances.
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.) While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving Define budgetary control at ledger level and only encumbrance control at the business units Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving.
You want to prevent intercompany transactions from being entered during the last day of the close. What should you do? Freeze the Intercompany journal source in General Ledger Close all subledger periods Close the General Ledger period in the Manager Accounting Periods page Close Intercompany periods in Fusion Intercompany.
|
