Oracle Financials Cloud: General Ledger 2016 Implementation Essentials v6.0 (1z0-333)

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Total 80 questions

You want to be notified of anomalies in certain account balances in real time. What is the rnost efficient way to do this?

  • A. Perform an account analysis online.
  • B. Open a Smart View file saved on your desktop.
  • C. Create an Account Group using Account Monitor.
  • D. Use Account Inspector.


Answer : A

You need to distribute departmental expense reports to l00 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?

  • A. 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.
  • B. 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.
  • C. Set up Bursting Options for your batch to prepare multiple versions of a report from a single process.
  • D. When defining the report, make the Department Segment a prompt and when users view the report, they can change the prompt to their department.


Answer : D

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?

  • A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
  • B. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
  • C. Use General Ledgers Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
  • D. 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.


Answer : A

Reference:
http://www.oracle.com/us/solutions/business-intelligence/consolidation-solution-
1876985.pdf

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 he create accounting program.
What are the two events?

  • A. Funds check
  • B. Requisition approved
  • C. Requisition rejected by the buyer
  • D. Submit the requisition for approval
  • E. Checkout and Save the requisition
  • F. Create change request on the requisition after submitting requisition for approval


Answer : B,F

Which three objectives must be considered when designing the chart of accounts?

  • A. Effectively manage an organization's financial business.
  • B. Consider implementing a single, global chart of accounts
  • C. Anticipate growth and maintenance needs as organizational changes occur.
  • D. Limit the number of segments to those you need today to reduce data entry.
  • E. Try to use all 30 segments and 25 characters per segment because you cannot change It later.


Answer : A,B,C

How can your Accounting Manager expedite Journal processing during the time critical month end close?

  • A. by using the Close Status monitor to drill down on the close status across ledgers
  • B. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Others
  • C. by running the Journals report using Business Intelligence Publisher
  • D. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)


Answer : C

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 recommend approach to performing consolidations?

  • A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
  • B. 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 balance transfer program.
  • C. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
  • D. 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.


Answer : D

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?

  • A. Event Type
  • B. Journal Line Rule
  • C. Event Class
  • D. Journal Entry Rule Set
  • E. Journal Entry


Answer : D

Your customer wants to use a clearing company to automatically balance Intercompany entries. Which three statements are true regarding the use of a clearing company value?

  • A. Clearing companies are not supported.
  • B. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity.
  • C. You must map legal entities to balancing segment values in order to use a clearing company.
  • D. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal.


Answer : A,C,E

$500 USD, which you decide to match to an invoice for $300 USD.
What will be the fund status of the purchase order and invoice?

  • A. The purchase order is Partially Liquidated and the invoice is Partially Reserved.
  • B. The purchase order is Partially Liquidated and the invoice will be reserved.
  • C. Both are reserved.
  • D. The purchase order is liquidated and the invoice is Partially Reserved. E. Both are Partially Reserved.
  • E. The purchase order is Open and the invoice is validated.


Answer : C

What type of user must be defined before you can create an Implementation Project?

  • A. None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.
  • B. A full-time employee that has the FSM Superuser role assigned
  • C. None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.
  • D. Implementation Users
  • E. All roles that will be used throughout the implementation


Answer : E

Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?

  • A. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
  • B. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.
  • C. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
  • D. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.


Answer : B

Reference:
http://docs.oracle.com/cd/E15586_01/fusionapps.1111/e20375/F350915AN25358.htm

In which two ways can your users customize the Dashboards and Work Areas to suit their individual working styles?

  • A. They can format each table by hiding and showing columns, moving columns, and resizing columns.
  • B. They can use Personalization to move and remove regions from those pages.
  • C. Users have very little control customizing their Dashboards and Work Areas; they can only resize columns.
  • D. They can have the System Administration customize pages for them using Page Composer.


Answer : C

You want to specify Intercompany System Options.
Which three factors should you consider?

  • A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
  • B. Whether to allow receivers to reject intercompany transactions
  • C. Automatic or manual batch numbering and the minimum transaction amount
  • D. Automatic or manual batch numbering and the maximum transaction amount
  • E. The approvers who will approve intercompany transactions


Answer : A,B,D

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?

  • A. Use the Open Account Balances Listing report that has balances by customer.
  • B. Use the Third Party Control Account feature.
  • C. Use Supporting References to capture customer classification information.
  • D. Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).


Answer : C

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Total 80 questions