Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Last exam update: Jul 20 ,2024
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Question 1
You need to create a boardroom ready 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. What are 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. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
D. Use a report batch to run reports at a specific time to create a set of snapshot reports
E. Use OTBI to create multiple reports that you save to a folder that only the users can access
Answer:
B D
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Question 2
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization. D18912E1457D5D1DDCBD40AB3BF70D5D After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)
A. Enable Payment Request Subtypes
B. Rebuild the GL Balances Cube
C. Create a Payment Process Profile
D. Rebuild the Budgetary Control Cube
E. Enable spend authorization
Answer:
A D E
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Question 3
Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your general ledger segment to a 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?
A. Data is summarized across segments that are not mapped to Hyperion Financial Management
B. The unmapped segments default to future use segments in Hyperion Financial Management
C. No data is transferred
D. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management
Answer:
D
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Question 4
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment. What is Oracles recommended method to define this chart of accounts?
A. Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
B. Define two different charts of accounts
C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
D. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
Answer:
D
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Question 5
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?
A. Create an Account Group using Account Monitor
B. Use Account Inspector
C. Open a Smart View file saved on your desktop
D. Perform an account analysis online
Answer:
A
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Question 6
Which feature outside of reporting and analysis leverages the Essbase cube?
A. revaluations and translation to revalue and translate currencies stored in the Essbase cube
B. calculation manager to perform allocations based on multidimensional balances and budgets
C. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
D. journal entries and journal approval to create journals that update balances to the cube directly
Answer:
A
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Question 7
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?
A. Make sure to flatten the rows of the tree version
B. Make sure the tree is active
C. Make sure the tree version was published successfully
D. Redeploy the chart of accounts
Answer:
C
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Question 8
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. 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 C
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Question 9
How can your Accounting Manager expedite journal processing during the time-critical month-end close?
A. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
B. by running the Journals report using Business Intelligence Publisher
C. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
D. by using the Close Status monitor to drill down on the close status across ledgers
Answer:
C
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Question 10
Which two statements are TRUE regarding the Balances Cubes in General Ledger? (Choose two.)
A. They are updated automatically when the General Ledger period is opened
B. New dimensions can be added to a General Ledger Balances Cube
C. They are updated automatically when the Revaluation process is run
D. A new Balances Cube is created for a unique combination of Ledger and Currency
E. They are updated automatically when the Translation process is run
Answer:
B C
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Question 11
Your customer uses Financials Cloud, Projects, Inventory and Procurement. Which two statements are true regarding intercompany accounting for these products? (Choose two.)
A. Each product has its own Intercompany Accounting feature that needs to be set up separately
B. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
D. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
Answer:
B C
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Question 12
You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit and Loss Accounts (4000-ZZZZ). - The following combinations exist in the Code Combination table: 01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00 Which two statements are true regarding cross-validation rules? (Choose two.)
A. The rules validate and apply to new accounts only D18912E1457D5D1DDCBD40AB3BF70D5D
B. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules
C. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
D. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
E. The rules will validate and apply to new and existing accounts
Answer:
C E
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Question 13
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)
A. 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
B. You can use hierarchies to define rules
C. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
D. The Segment Value Security rules do not take effect until you assign the rules to users and products
Answer:
A B
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Question 14
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 purchase order is canceled or finally closed or rejected without performing any receipt or invoice
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. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
D. 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
Answer:
A B
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Question 15
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?
A. 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
B. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances
C. 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.
D. 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.
E. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward