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QUESTION NO:12

Which method will reverse accruals in the next accounting period?

A. Create two events, one for accrual and another for the reversal.

B. Create one entry and use Accrual Reversal GL Date.

C. Create one event and use the Accounting Reversal attribute.

D. Create one event and use the GL functionality to perform the reversal.

Answer: B Explanation: The Accrual Reversal GL Date accounting attribute is relevant to applications using the accrual reversal feature.

When the accrual reversal GL date accounting attribute returns a value, the Create Accounting program generates an entry that reverses the accrual entry.

Note:

* If an invoice is not entered by period end, the Receipt Accruals – Period End process will generate accruals and transfer the accounting for them to the GL Interface. Use the Journal Import program to create unposted journals. This journal is created with a reversal date in a subsequent period. The journal must be reversed so your receipt liability is not overstated.

Reference: Oracle Financial Services Accounting Hub Implementation Guide, GL Date Accounting Attributes

QUESTION NO:15

Select two text functions that are available only for financial management.

A. CallText

B. MemberAlias

C. MemberDescription

D. ProcessManagementStatus

E. MemberProprty

Answer: B,C Explanation: In Oracle Hyperion Financial Reporting, Fusion Edition, you use text functions to display and retrieve information in reports. For example, you can display the member name and member alias (description) from the Point of View or from a grid dimension, or you can retrieve the currency ID for entities in Oracle. Hyperion Financial Management, Fusion Edition applications.

Most text functions require parameters that specify the grid, row, column, and page in the report.

The following is a list of some common text functions that require similar syntax:

<> <> <> <> <>

Reference: Replacing Text Function Parameters with the Current Keyword

QUESTION NO:10

Fusion Accounting Hub includes Hyperion Data Management, which can be used for .

A. Chart of Accounts Hierarchy maintenance

B. the maintenance of Trading Community Data

C. Chart of Accounts Master Data maintenance

D. data access and security

E. data modeling

Answer: C Explanation: Oracle Fusion Accounting Hub is integrated with Oracle Hyperion Data Relationship Management, Fusion Edition, which is a master data management solution for creating and maintaining hierarchies across your enterprise. This integration allows you to maintain your charts of accounts values and hierarchies in one central location, and then to synchronize your hierarchies in Oracle Fusion and E-Business Suite General Ledgers. With licensing and integration of Data Relationship Management, you can:

*

Update and change Data Relationship Management versions and hierarchies. The results of these changes are exported to the values sets in the Oracle Fusion and E-Business Suite General Ledgers, E-Business Suite parent child hierarchies, and Oracle Fusion Trees.

*

Synchronize charts of accounts and hierarchies across multiple Oracle general ledger instances.

*

Store segment value attributes, such as account type, start date, and end date, providing the ability to enter such values in Data Relationship Management and integrate them to Oracle Fusion and E-Business Suite General Ledgers.

*

Submit standardized E-Business Suite Standard Request Submission and Oracle Fusion Enterprise Schedule Service requests from both the E-Business Suite and the Oracle Fusion General Ledgers to import values from Data Relationship Management.

Reference: Oracle Fusion Accounting Hub Implementation Guide 11g, Integration with Hyperion Data Management

QUESTION NO:7

Select the key performance indicator (KPI) that provides a trend of the cost of an item as part of Gross Margin Analysis

A. Item Cost KPI

B. Value Trends KPI C. Gross Margins KPI D. Inventory Value KPI

Answer: A Explanation:

Note: * Overhead Costs Expensed or Capitalized

On inbound transactions and inventory transfer transactions, overhead expenses can be absorbed and capitalized into inventory value, or the absorption can be redirected to an expense account: a credit to an absorption account and a debit to either an inventory or expense account. On outbound transactions, overhead absorption is redirected to an expense account, and will be included in the gross margin calculation.

For example, consider a receipt of inventory items that cost $10 each to purchase, and you would like to absorb overhead cost of $2 each on the inbound transaction. When the item is sold, you would like to absorb additional overhead of $3 each on the outbound transaction. The total cost of goods sold is $15 each.

*Fusion Costing analytics include support for Gross Margin Analysis, Item Cost Trend and Item Value trend, embedded in the Fusion Cost Accountant

QUESTION NO:24

A company has three divisions: a U.S. division that covers the U.S. locations, a European division that covers U.K. and France, and a Middle East division that covers Saudi Arabia and U.A.E. All the divisions have their own employees. Choose how many Ledgers and Legal Entities the company Needs.

A. One ledger and one Legal Entity

B. Two ledger and two Legal Entities

C. Three Ledger and three Legal Entities

D. One Ledger and three Legal Entities

Answer: C Explanation: LE(legal entity)Design

QUESTION NO:9

Which view do you use to set parameters and define the data that is displayed in the SmartView report.

A. SmartSlice

B. SmrtView

C. Point of View

D. SmartCube

Answer: A Explanation: Smart Slices are stored centrally and are available to users from the Smart View Panel. An entire report is associated with an Excel workbook, a Word document, or a PowerPoint presentation. One report is associated with an Excel worksheet, a Word page, or a PowerPoint slide. For PowerPoint presentations, Oracle recommends one report type per slide. You can create reports from entire Smart Slices or from subsets of data in a Smart Slice. Reports can then be displayed on an Excel spreadsheet, Word document, or PowerPoint slide. You can display as many reports from as many data sources as space will permit on one sheet Reference: Oracle Hyperion Smart View for Office, User\’s Guide

QUESTION NO:22

How can data from a Chart of Accounts instance be viewed in Oracle Business Intelligence?

A. Data is automatically available in Oracle Business intelligence through the transaction tables and cubes.

B. Select the Business Intelligence check box for the Chart of AccountsInstance.

C. Use the Migrate Oracle Fusion Financials function within the Setup and Maintenance work area.

D. Enable the offerings in the Manage BI Applications dialog box.

E. Select the Enable for Implementation check box.

Answer: A Explanation:

Note:At the time users create their chart of accounts, the balances cube is created automatically.

QUESTION NO:16

You have been given a task to update a calendar by adding a new period to it. What is the quickest way to perform this task?

A. Manually add the periods.

B. Use the Add Year button.

C. Run the Other – Calendar Validation Report.

D. The application automatically populates the next period.

Answer: A Explanation: Define the Calendar Periods

Use the Accounting Calendar form to define your calendar (navigation = Setup..Financials..Calendar..Accounting). You associate a calendar and period type with each set of books. Oracle General Ledger lets you maintain multiple calendars. For each calendar, you should set up one complete year at a time, specifying which types of accounting periods you will include in each year. Oracle General Ledger lets you add periods to your calendar at any time. When you define new accounting periods, remember to use the same period type that you originally assigned to your set of books. These are the only periods that General Ledger will recognize for your set of books.

Note: Define your calendar to fit your business. You can define a calendar for any fiscal year, and have up to 366 accounting periods for use with actuals and 60 periods for use with budgets. The periods can be of different lengths, but they all must be of the same period type for one set of books, in order for General Ledger to recognize them.

QUESTION NO:3

Transactions may involve multiple currencies that require a common currency to make the reports meaningful. What are the amounts Oracle Business Analytics Warehouse uses to store currency?

A. Global Currency (two common currencies), Document Currency,Local Currency

B. Currency Code, Currency Name

C. Currency Symbol, Currency Name

D. Report Currency

Answer: A Explanation: Currency lookups are required because your business may have transactions involving multiple currencies. To create a meaningful report, you have to use a common currency. The Oracle Business Analytics Warehouse provides a means for converting a variety of currencies, as well as prepackaging the following three currency types for each amount stored in the Oracle Business Analytics Warehouse:

*Document currency. The currency of the transaction. For example, if you purchase a chair from a supplier in Mexico, the document currency is probably the Mexican peso.

*Local currency. The currency in which the financial books, including the transaction, are closed. For example, if your business organization is located in France and orders a part from a supplier in Britain, it may pay in British pounds, but it closes its books in French francs. In this case the local currency for the transaction is French francs and the document currency for the transaction is British pounds. The local currency is useful when each business unit of the enterprise creates its own internal reports. For example, your Japanese site may produce internal reports using Japanese yen, while your United States site may produce internal reports using United States dollars.

*Global currencies. Out of the box, Oracle BI Applications provides three global currencies, which are the standard currencies used by your entire enterprise. For example, if a multinational enterprise has its headquarters in the United States, its group currency is probably U.S. dollars. The global currency is useful when creating enterprise-wide reports. For example, a user might want to view enterprise-wide data in other currencies

Reference: Oracle Business Intelligence Applications Installation and Configuration Guide > Configuring Common Components of the Oracle Business Analytics Warehouse > About Document, Local, and Global Currencies

QUESTION NO:11

Account Rules are specific to .

A. Subledger application

B. Event Classes

C. Event Types

D. Accounting methods

E. Journal Rule sets

Answer: A Explanation:

Note:

*

The Create Accounting process uses the values of sources assigned to accounting attributes plus accounting rules to create subledger journal entries.

*

Accounting rules can be defined with either a top down, or a bottom up approach. When defining subledger accounting rules from the top down, you will initially define the accounting method followed by components of each rule, which will need to be assigned to it. When defining subledger accounting rules from the bottom up, you will initially define components for each rule and then assign them as required.

*

Define accounting rules to create revenue recognition schedules for your invoices. Accounting rules determine the number of periods and percentage of total revenue to record in each accounting period. You can use accounting rules with transactions that you import into Receivables using AutoInvoice and with invoices that you create manually in the Transaction windows. You can define an unlimited number of accounting rules. *Use accounting rules to determine revenue recognition schedules for your invoice lines. You can assign a different accounting rule to each invoice line. Accounting rules let you specify the number of periods and the percentage of the total revenue to recognize in each period. You can also specify whether the accounting rules are of Fixed or Variable Duration. Accounting rules of Fixed Duration span a predefined number of periods. Accouning rules of Variable Duration let you define the number of periods during invoice entry.

Reference: Oracle Fusion Applications Financials Implementation Guide, Define Subledger Accounting Rules

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