GL Exam Prep Flashcards
The accounting manager request that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic post criteria?
Journal Source
After loading your budget data into Fusion GL you can view budget balances using these features. Which item does not belong on the list.
Application Development Framework Desktop Integration (ADFdi)
Identify three differences between Oracle Transactional Business intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)
OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Fusion Applications
OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source application.
OTBI allows you to create custom reports from real-time transactional data against the database directly
Which three reporting tools are based on real-time data or balances?
Smart View, OTBI, FR
Which two delivered roles can access the full functionality of Functional Setup Manager
Application Implementation Manager
Application Implementation Consultant
Which two statements are true regarding how Intercompany Balancing Rules are defined:
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, ledger, legal entities, and primary balancing segment values
Who are the three primary Functional Setup Manager Users?
End users that perform transactional processing
Functional Users
Implementation Project Managers and Consultants
System Admin
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?
Suppliers and Customers
Banks, Bank Accounts, and Branches
Chart of Account Values, Accounting Calendar, and Ledger
You are implementing Segment Value Security rules. Which two statements are true?
You can use hierarchies to define rules
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 need to build a complex account rule. Which four value types can you use in your definition?
Value Set
Constant
Account Combinations
Source
Your customer has enabled budgetary and encumbrance controls at the requisition level. You have a purchase order for $1,000 USD, which is fully reserved and has one invoice for $600 USD. When the purchase order is matched through the final match process, the purchase order is closed for further invoicing. What happens to the remaining $400 USD?
$400 USD will be added back to available funds
Your customer has enabled encumbrance accounting. You have a control budget with the advisory level set at control. For November 2015, your budget for a given combination is $5,000 USD. You have an approved requisition of $900 USD and you have an approved purchase order of $2,500 USD. An adjustment encumbrance journal is created in the General Ledger for the obligation type for $1,600 USD. You then cancelled the approved PO line of $400 USD. For November 2016, you created a new invoice by matching to the PO for $2,100 USD. Which two statements are true?
C. As you are matching to a purchase order, the system will allow the user to create an invoice with the reservation status of Reserved.
E. The system always consumes budget of future periods if the limit for the current period is expired, so December 2015 budget will be considered for reservation.
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is oracle’s recommended practices 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 should be primary balancing segment, cost center segment, and natural account segment, respectively.
Your customer is using budgetary control and encumbrance. You have an open purchase order for $500 USD, which you decide to match to an invoice for $300. What will be the fund status of the purchase order and invoice?
The purchase order is partially liquidated and the invoice will be reserved.
Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requirement?
Create two detail control budgets, annually with absolute control and monthly with advisory or track control.
Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requirement?
Create two detail control budgets, annually with absolute control and monthly with advisory or track control.
Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments. Which two recommendations would you give your customer?
- Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.
- When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use?
Data Access Sets using an Access Set Type of Primary Balancing Segment
Segment Value Security
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this?
Account Inspector
Smart View
Account Monitor
Your user forgot the password. How do you resolve this?
Use Oracle Identity Management (OIM) to reset the user’s password.
All of your subsidiaries can share the same ledger with their parents company and all reside on the same application instance. They do perform intercompany accounting. What does Oracle consider the best practice approach to their consolidations?
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.
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is oracle’s recommended approach to performing consolidations?
Translate balances to the corporate currency, create a chart of accounts mapping to the corporate Chart of Accounts, then transfer balances to the corporate consolidation ledger using the balances transfer program.
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?
Account group (Original Answer)
How can your Accounting Manager expedite Journal processing during the time critical month end close?
By using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others.
Identify three functions of the Functional Setup Manager.
“Provide a central plan 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
Assign setup tasks to individuals with due dates where users must manually update their completion status
Most of the accounting entries for transactions from 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 Line Rule
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?
Transaction Objects
What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?
“General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.”
What is the most efficient way to add a new year to the accounting calendar?
Use the Add Year Button
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 can create a rule for all sources and categories by selecting the source ““other”” and the category ““Other.””
Set up 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 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 Supporting References to capture customer classification information.
You just submitted the Accounting Configuration. Which two statements are correct?
“A Data Access Set with full read/write access to the ledger is automatically created.
Verify the data roles created and assign them to General Ledger users. “
You need to define multiple allocation rules as efficiently as possible. Which three components can be reused across allocation rules?
“Run Time Prompts (RTP)
Formulas
RuleSets”
Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity. What should you recommend?
Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
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?
Oracle Identity Management
Your enterprise structure has one ledger and two business units. Business Unit 1 want to enable budgetary control for Requisitioning only in Procure-to-Pay Business Functions and Business Unit 2 wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct?
Define control for business unit 2 to disable control for Requisitioning, Purchasing, and Receiving.
While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving.
You want to automatically post journal batches imported from subledger source to prevent accidental edits or deletions of the subledger sources journals, which could cause out-of-balance situation between your sub ledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria?
Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
Include all of your sub ledger sources in the AutoPost Criteria. Divide up criteria sets by Subledger source only if you need to schedule different posting times.
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?
Create an Account Group using Account Monitor.
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 must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.
Tree should have at least 2 versions
You only need to flatten columns if you plan to use the hierarchies in OTBI
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 receiver to reject intercompany transactions.
Automatic or manual batch numbering and the minimum transaction amount.
After submitting the journal for approval, you realize that the department value in the journal is incorrect. How do you correct the value?
Click the Withdraw Approval button in the Edit Journals page and edit the journal.
Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?
Chart of Accounts hierarchy maintenance
Chart of Accounts master data maintenance
In which two ways can your users customize the Dashboards and Work Areas to suit their individual working styles?
They can use Personalization to move and remove regions from those pages.
They can format each table by hiding and showing columns, moving columns, and resizing columns
What type of user must be defined before you create and Implementation Project?
Implementation Users
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?
Intelligence Publisher (BI Publisher)
Which statement is true when creating an Implementation Project for Financials cloud?
You must select the Offering ‘Financials’ and each individual product or option to perform the setup for each product in Financials cloud.
While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that?
The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.
The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What do you need to enable?
Drill Through in Grid Properties.
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
You created your first Implementation Project and assigned the Application Implementation Consultant Role to your user. However, you are unable to access Oracle Identity Management (OIM). This issue was caused because you did not assign the?
IT Security Manager role to your user
You entered a journal and the client is asking for the following information- Current account balance, what the future account balance will be if the Journal is approved and posted. How will you get that information?
View the Projected Balance Region in the Create Journals page.
You need to define a Chart of Accounts that includes an intercompany segment. Your customer plans to use segment security rules for the Company segment. What does Oracle consider best practice to define this chart of accounts?
Define the company segment only and qualify it as both the primary balancing segment and intercompany segment.
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 is the most efficient way to achieve this?
When defining the report, make the Department Segment a prompt and when users view the report, they can change the prompt to their department.
Your customer is having issues transferring intercompany transactions to General Ledger. Identify three reason for this.
The intercompany transaction is not approved
The corresponding Payables and Receivables invoice have not been generated
The intercompany period is closed
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 two statements are true regarding the creating of a control budget?
A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand and Singapore
A control budget can be associated with a different calendar than accounting calendar
A control budget can allow override rules only if the control level is absolute.
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
Your customer uses Financials Cloud, Projects, Inventory and Procurement. Which two statements are true regarding intercompany accounting for these products
Intercompany Balancing Rules are defined centrally and applied across Financials, Portfolio Project Management and Supply Chain Management products.
Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single ledger intercompany journals
You transact in 50 different currencies and you need to define a high volume of revaluation definition. Which two methods are Oracle recommended best practices for streamlining this process?
Use hierarchies and parent values in your revaluation definition
Share revaluation definitions across ledgers that share the same chart of account
You want to enter budget data in Fusion General Ledger. Which method is not supported?
Entering budget journals
You want to process multiple allocations at the same time. What feature do you use?
Rule Sets
Before implementing Fusion Financials, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?
Run the Intercompany Reconciliation Report, which shows pairs of intercompany receivables and payables accounts that are out of balance.
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
You’ve set up the standard accrual with encumbrance accounting for your ledger and you realized that the encumbrance journals are defaulting with current date as the accounting date. What is causing this?
The system date was set up under the encumbrance accounting Default Date Rule.
Which three objectives must be considered when designing the chart of accounts?
Effectively manage an organization’s financial business
Consider implementing a single global chart of accounts
Anticipate growth and maintenance needs as organizational changes occur
Which two are prerequisites for creating subledger accounting entries?
Selecting source values from transaction objects
Completing accounting transformation definition and activating Subledger Journal Entry Rule Set assignments for the Accounting Method
While troubleshooting the encumbrance entries created for the requisition for your business unit, you noticed that only a few events are triggering the encumbrance journals when you submit the create accounting program. What are two events?
Requisition approved
Create change request on the requisition after submitting requisition for approval
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?
Rerun Translation and then reconsolidate your result
You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results. What’s the most efficient way to achieve this?
When designing your financial statement using Financial Report (FR), embed a chart into your report.
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 manually using the Currency Rates Manager, which can be accessed from the functional setup manager or the General Ledger’s Period Close work area.
Import daily rates through the Daily Rates open interface table.
You create a prepayment for USD 100 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and re-validate it. What happens to the available funds when you apply a prepayment that requires budgetary controls?
The prepayment application releases funds of 100 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 USD.
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?
An audit process needs to be successfully performed before a tree can be set to active.
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. Identify the two Oracle recommended ways to accomplish this - Choose two:
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.
Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the separate (disparate) General Ledgers. You can typically map segments between your general ledger segment to 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 to Hyperion Financial Management?
Data is summarized across segments that are not mapped to Hyperion Financial Management.
You company wants to change the cumulative translation adjustment (CTA) account to record gains/losses from varying currency rates. What steps must you to perform this objective without causing data corruption?
Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
You 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.
You want to define an allocation rule where segment values are constants for rules and formulas what should you do?
Always use the Outer Point of View (POV)
You want to prevent intercompany transactions from being entered during the last day of close. What should you do?
Close intercompany periods in fusion intercompany
The expense account airfare was erroneously assigned to the account type “Liability.” Which method should you choose to fix the problem?
Run the “Correct Misclassified Account” program
Your customer is reconciling their Intercompany Receivables accounts. Which two reports should they use in addition to using the intercompany Reconciliation report?
General Ledger Trial Balance Report
Receivables to General Ledger Reconciliation Report
You are required to enter a high volume of users into the system. What does Oracle consider best practice to do this?
Use the spreadsheet available in Oracle Identity Manager (OIM) to import users.
What is Oracle Essbase?
A multidimensional Online Analytical Processing (OLAP) server that is embedded in GL
What are the two purposes of a secondary ledger?
It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting.
It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options.
In Financials cloud, which three reporting tools can be used to access General Ledger balances?
Financial Reporting Studio
OTBI
Smart View
You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?
Use the Close Monitor in General Accounting Dashboard
Which report shows you differences between your subledger balances and General Ledger balances?
Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report
You entered users who are both employees and contingent workers. You want an automated way to assign, reassign, and remove roles from users. What feature do you use?
Role Mappings
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?
Segment Value Security
Which AMX builder method is most effective in routing the journals to the Accounting Manager when its subordinate, the General Accountant, enters a journal?
Supervisory Level Approval
On which three occasions are Essbase balances updated?
Every time journals are posted to the general ledger
At report run-time
Every time the tree version is published
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order. The invoice was entered on 5/5/16, but the invoice accounting date was 4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/16. What is causing this?
The system date was set up under the encumbrance accounting Default Date Rule.
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your 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 (Answer)
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in unstable local currency. What would be your recommendation when defining ledgers?
Use Journal-level or Subledger-Level Reporting Currencies denominated in the more stable currency.
Which two methods can your General Ledger accountants use to more easily view large amounts of contained in their tables in their work areas?
Export the table to Excel
Detach the table to resize it to the maximum size of the monitor
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 for your income statement accounts. When should you reverse revaluation journals, if at all required?
Never, because each period’s revaluation adjustment is just for that period.
Which two types of journals can be automatically routed through the journal approval process?
Manual Journals
Journals imported from third-party systems
What is the purpose of the Fusion Accounting Hub Reporting Cloud Service (FAHRCS)?
It allows any third party financial system to integrate their journal balances with the Cloud Financial Reporting Center.
Which two statements are true if a journal description rule is defined with sources? (Choose two)
The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.
The description rule may be assigned to the header or line level, or to both.
Your customer wants to use a clearing company to automatically balance intercompany entries. Which three statements are true regarding the use of clearing company value?
You must map legal entities to balancing segment values in order to use a clearing company.
If you choose to use a clearing company, you can define default clearing company value or select the clearing company value directly in the general ledger journal.
If you map legal entities to balancing segments values, then a clearing company can only be applied within a legal entity.
Your customer requires physical invoices to be generated in Payables and receivables for the intercompany payables and receivables transactions. What statement is correct with regard to setting this up?
You must assign the corresponding Receivables and Payables Business Units
There are two types of Supporting References- one with balances and one without. You want to define Supporting References without balances. Which two aspects should you remember?
Consider using a journal entry header or line description for Supporting References without balances.
Select the balances option when defining the supporting reference.
Which tool can you use to create a financial income statement?
Account Inspector
You are setting up Close Monitor, which comprises a ledger set hierarchy definition. Which two components of the enterprise structure should the ledgers in the ledger set share?
Accounting Calendar
Chart of Accounts
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets. What are the other two subcomponents of a Subledger Journal Entry Rule Set? (Choose two)
Journal Line Rules
Account Rules
You are reconciling your Payables and Receivables balances against the General Ledger. You are using 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?
There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
Subledger transactions have been accounted and transferred to General Ledger but have not been posted.
Intercompany transactions have not been fully processed.
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.
During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted. Select the process that allows you to change the qualifier back to cost center qualifier.
Change and save the segment qualifier.
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 the related intercompany period, close Fusion Payables and Receivables periods, and then the Fusion General Ledger.
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?
Ledger Set (Verify)
Account Group, Financial Report, OTBI Report, Trial Balance Report (Other options)
What are 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 cancelled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.
How do Cross Validation Rules (CVR’s) handle existing violations in the Code Combinations identification (CCID table)
CVR only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table.
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which to actions should you now perform? (Choose two)
Assign a Subledger Accounting Method to the secondary ledger.
Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions.
You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identify the step that is not correct when implementing this integration.
Create the accounting in the source system and then import the journal entries into subledger accounting.
Which two General Ledger work areas would you assign to all your entry-level General Ledger accountants?
General Accounting Dashboard
Journals Work Area
What process must be followed to propagate a chart of accounts hierarchy to the Essbase cube?
Define the hierarchy, thend eploy the chart of accounts. The chart of accounts hierarchies will be generated automatically.
Budgetary control for accounts 5020 and 5021 has a budget of $90,000 each for the year 2012. The accounts also have balances on obligation of $10,000 for each and an expenditure of $20,000 for each. A fund of $50,000 is available for account 5020 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, obligation $10,000, and expenditure $20,000, and the funds available $50,000 will be carried forward.
Your customer is a financial institution that needs to maintain overage daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?
ABD provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances.
Average balances are stored in the Essbase cube.
Invoices received from a source system need to use 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 an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type.
You create an invoice for $100 that is matched to a purchase order of $100. You validate the invoice to consume the budget and reduce funds available. Later you cancel the invoice. What happens to the funds available when you cancel an invoice that requires budgetary control?
The funds reserved for the purchase order is reinstated while the invoice expenditure is reversed by $100.
How do you hide accounts with no balances showing #Missing in SmartView?
Select the Data/Missing check box in the Data Options tab.
Which feature outside of reporting and analysis leverages the Essbase cube?
Calculation manager to perform allocations based on multidimensional balances and budgets
When working with Essbase, versions of the tree hierarchy as defined in General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?
Make sure the tree version was published successfully
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 Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
You are implementing a multipillar implementation of both HCM cloud and ERP cloud. You are implementing ERP first followed by HCM cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)
Use HCM’s Enterprise Structure Configurator (ESC first)
Use the Rapid Implementation spreadsheet when creating your enterprise structure
Deploy your chart of accounts
You are working on a multipillar implementation of both HCM cloud and ERP Cloud. You implemented HCM first using the Enterprise Structures Configurator (ESC). Which three things should be considered when implementing ERP Cloud and defining its legal entities, business units, charts of accounts, and ledgers? (Choose Three)
Roll back ESC first.
When creating your chart of accounts (COA) structure, do so in the following order- Create value sets, Create the COA structure, and then create the COA instance before assigning values to the value sets.
Use the Rapid Implementation spreadsheet to create COA hierarchies to an existing implementation.
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. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2500. There is also a General Ledger adjustment journal entry for that account of $1600. An approved purchase order line of $400 is then cancelled. And an invoice is matched to the purchase order for $2100. Which two statements are true?
As there are cancellations for $400, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016.
Purchase order encumbrance will be released for $2100.
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?
Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.
You want to display OTBI reports and graphs in PowerPoint to show general ledger or subledger data. How do you accomplish this?
Use Smart view and Oracle BI EE View Designer to create reports in Power Point, Word, Excel
Which subject area has been enhanced to allow you to drill down from OTBI General Report to a General journal?
General Ledger - Journal Transaction Balances Real Time
