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NEW QUESTION # 16
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?
- A. Journal Line Rule
- B. Journal Entry Rule Set
- C. Event Class
- D. Journal Entry
- E. Event Type
Answer: A
NEW QUESTION # 17
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?
- A. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
- B. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
- C. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
- D. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
Answer: C
Explanation:
The Import Account Combinations process is used to create and/or modify account combinations using a file-based data import (FBDI). The appropriate upload steps are to insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process2.
NEW QUESTION # 18
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?
- A. Rerun Translation and then reconsolidate your results
- B. Rerun Revaluation and then rerun Translation
- C. Enter another adjusting journal entry in the target currency to true up the balances
- D. Translate only the adjusting journal entry
Answer: A
Explanation:
If you enter a last-minute adjusting journal entry in your ledger currency after you consolidated your results, you need to rerun Translation and then reconsolidate your results. This will ensure that the translated balances reflect the latest changes and that the consolidation process uses the updated translated balances. You cannot translate only the adjusting journal entry, as this will not update the existing translated balances. You do not need to rerun Revaluation, as this is a different process that adjusts foreign currency balances to reflect current exchange rates. You should not enter another adjusting journal entry in the target currency, as this will create inconsistencies and errors in your financial statements. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Translate Balances 12
NEW QUESTION # 19
Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?
- A. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
- B. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
- C. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
- D. In Financials Cloud, you must manually reconcile your intercompany account balances
- E. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
Answer: E
Explanation:
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DAAC7706212CF48E040D30A6881766A According to Oracle documentation1, a more automated approach to reconcile intercompany payables and receivables accounts is to run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance. This report is automatically generated when you run the Prepare Intercompany Reconciliation Information process. You can drill down on the report to view the balances by source and by journal lines. Therefore, option D is correct. Option A is incorrect because Oracle Hyperion Close Manager is not a tool for reconciling intercompany account balances. Option B is incorrect because you don't need to manually reconcile your intercompany account balances in Financials Cloud. Option C is incorrect because the BI Publisher reports called Intercompany Transaction Summary and Account Details are not designed to reconcile intercompany balances. Option E is incorrect because creating a query using Oracle Transactional Business Intelligence (OTBI) is not a more automated approach to reconcile intercompany payables and receivables accounts.
NEW QUESTION # 20
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?
- A. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
- B. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
- C. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
- D. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
Answer: C
NEW QUESTION # 21
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. Intercompany transaction type default accounts
- B. a Provider and Receiver distribution set
- C. the Transaction Account Definition
- D. the AutoAccounting Definition
Answer: A
Explanation:
To configure the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions, you should configure the intercompany transaction type default accounts. Intercompany transaction types define the default accounts for intercompany receivables and payables for each combination of provider and receiver business units. You can also specify other attributes such as tax classification codes, payment terms, and invoice options for intercompany transactions. You do not need to configure a Provider and Receiver distribution set, as this is not a supported option. You do not need to configure the AutoAccounting Definition, as this is a feature that determines how revenue and receivable accounts are derived for Receivables transactions. You do not need to configure the Transaction Account Definition, as this is a feature that determines how subledger journal entry accounts are derived for subledger transactions. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 1
NEW QUESTION # 22
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
- B. 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
- C. 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
- D. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice
Answer: B,D
NEW QUESTION # 23
When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.
Which two reporting tools allow you to achieve this? (Choose two.)
- A. Account Inspector
- B. Financial Statement Generator
- C. Smart View
- D. Financial Reporting Studio
Answer: C,D
NEW QUESTION # 24
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
- A. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
- B. Posting performance is much faster
- C. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
- D. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
- E. 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
Answer: C,E
NEW QUESTION # 25
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.)
- A. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- B. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- C. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- D. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- E. Define budgetary control at ledger level and only encumbrance control at the business units
- F. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
Answer: B,D
NEW QUESTION # 26
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Smart View
- B. Financial Reporting Center
- C. Financial Reporting Studio
- D. Oracle Financial Statement Generator
Answer: B,C
Explanation:
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NEW QUESTION # 27
You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)
- A. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
- B. automatic or manual batch numbering and the minimum transaction amount
- C. whether to allow receivers to reject intercompany transactions
- D. automatic or manual batch numbering and the maximum transaction amount
- E. the approvers who will approve intercompany transactions
Answer: A,B,C
Explanation:
The Intercompany System Options page allows you to specify various settings for intercompany transactions, such as whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies, whether to allow receivers to reject intercompany transactions, and the approvers who will approve intercompany transactions3.
NEW QUESTION # 28
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Financial Reporting Center
- B. Smart View
- C. Financial Reporting Studio
- D. Oracle Financial Statement Generator
Answer: B,C
Explanation:
According to Oracle documentation3, when creating financial reports, the two tools that use data from the General Ledger Balances Cube are Financial Reporting Studio and Smart View. Financial Reporting Studio is a graphical user interface that enables you to design and generate reports using data from various sources, including General Ledger Balances Cube. Smart View is an Excel add-in that enables you to access and analyze data from various sources, including General Ledger Balances Cube. Therefore, options A and B are correct. Option C is incorrect because Oracle Financial Statement Generator does not use data from the General Ledger Balances Cube. Option D is incorrect because Financial Reporting Center does not use data from the General Ledger Balances Cube.
NEW QUESTION # 29
Which tool can you use to create a Financial Income Statement?
- A. One View Reporting
- B. Rapid Implementation Enterprise Structures setup
- C. PS/nVision
- D. Account Inspector
Answer: D
Explanation:
Account Inspector is a tool that allows you to create a Financial Income Statement using data from General Ledger Cloud. You can select an income statement account or an account group and view the account balance and its components, such as subledger details, journal lines, and supporting references. You can also drill down to the underlying transactions and subledger applications. You can customize the layout and appearance of the income statement and export it to Excel or PDF. One View Reporting is a tool that allows you to create reports using data from Oracle E-Business Suite applications, not Oracle Financials Cloud. PS/nVision is a tool that allows you to create reports using data from PeopleSoft applications, not Oracle Financials Cloud. Rapid Implementation Enterprise Structures setup is a tool that allows you to set up enterprise structures for Oracle Financials Cloud, not create financial statements. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Create Financial Reports 12
NEW QUESTION # 30
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?
- A. 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.
- B. 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.
- C. You should assign a balancing segment value to identify each legal entity in each ledger.
- D. You should assign a balancing segment value to identify each legal entity in the US ledger.
Answer: B
NEW QUESTION # 31
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.)
- A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
- B. Use a report batch to run reports at a specific time to create a set of snapshot reports
- C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- D. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- E. Use OTBI to create multiple reports that you save to a folder that only the users can access
Answer: B,D
Explanation:
you can use a report batch to run reports at a specific time to create a set of snapshot reports. A report batch is a collection of reports that you can schedule and run together. Therefore, option B is correct. You can also use Workspace to assemble multiple reports into a book that can be printed and viewed individually or as an entire book. A book is a collection of reports that you can organize into sections and chapters. Therefore, option C is correct. Option A is incorrect because BI Publisher is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting. Option D is incorrect because Smartview is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting. Option E is incorrect because OTBI is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting.
NEW QUESTION # 32
Your company has a legal entity in the UK, US, and Canad A.
They can all share the same chart of accounts but are required to transact and report in their local currency.
What is the minimum number of ledgers you need and why?
- A. One, because they can all share the same chart of accounts
- B. Two, because the US and Canada can share the same ledger because they are in North America
- C. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
- D. Three, because each requires a different currency
Answer: D
Explanation:
According to Oracle documentation2, the minimum number of ledgers you need when your company has a legal entity in the UK, US, and Canada and they can all share the same chart of accounts but are required to transact and report in their local currency is three, because each requires a different currency. A ledger is a combination of a chart of accounts, calendar, currency, and accounting method. Therefore, option B is correct. Option A is incorrect because you cannot have one ledger for different currencies. Option C is incorrect because you cannot have two ledgers for different currencies. Option D is incorrect because you don't need four ledgers for this scenario.
NEW QUESTION # 33
You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?
- A. Close Intercompany periods in Fusion Intercompany
- B. Close all subledger periods
- C. Close the General Ledger period in the Manager Accounting Periods page
- D. Freeze the Intercompany journal source in General Ledger
Answer: A
Explanation:
To prevent intercompany transactions from being entered during the last day of the close, you should close intercompany periods in Fusion Intercompany. This will prevent users from creating or modifying intercompany transactions for the closed periods. You do not need to freeze the Intercompany journal source in General Ledger, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. You do not need to close all subledger periods, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. You do not need to close the General Ledger period in the Manager Accounting Periods page, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 12VVVVVVVVVVVVVVV
NEW QUESTION # 34
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. This report displays the intercompany receivables and intercompany payables balances in summary for a period.
- B. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- C. This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
- D. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- E. 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.
Answer: D,E
Explanation:
According to Oracle documentation3, the following statements are true regarding the Intercompany Reconciliation Report: This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison, and 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. The Intercompany Reconciliation Report enables you to reconcile your intercompany receivables and payables accounts, and identify any missing transactions. This report is automatically generated when you run the Prepare Intercompany Reconciliation Information process. Therefore, options B and D are correct. Option A is incorrect because you can drill down to the general ledger journal, subledger accounting entry, and source receivables or payables transaction. Option C is incorrect because this report displays both the reconciled and unreconciled transactions. You can use automatic reconciliation or manual reconciliation to reconcile the unreconciled transactions.
NEW QUESTION # 35
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?
- A. Journal Batch
- B. Journal Description
- C. Journal Source
- D. Journal Category
Answer: C
Explanation:
The Journal Source attribute is used to set the automatic posting criteria for journals from subledgers. You can specify whether to post journals automatically or manually based on their source, such as Payables, Receivables, or Projects4.
NEW QUESTION # 36
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)
- A. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.
- B. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
- C. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
- D. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys
Answer: C,D
NEW QUESTION # 37
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