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NEW QUESTION # 14
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
- A. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD
- B. Only obligation type will have $400 USD funds available
- C. Invoice type will have less funds available by $400 USD
- D. $400 USD will be added back to available funds
- E. $400 USD will be expired and not available for use
Answer: D
Explanation:
When a purchase order is closed for invoicing, any remaining encumbrance amount is liquidated automatically. This means that the reserved funds are released and added back to the available funds for the budget. You do not need to enter a manual encumbrance journal or perform any other action to release the budget amount. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Process Budget Journals 12
NEW QUESTION # 15
Which delivered role can access the full functionality of Functional Setup Manager?
- A. Any functional user
- B. Application Implementation Consultant
- C. IT Security Manager
- D. Functional Setup Manager Superuser
- E. Application Implementation Manager
Answer: E
Explanation:
According to Oracle documentation2, the delivered role that can access the full functionality of Functional Setup Manager is Application Implementation Manager. Functional Setup Manager is a tool that enables you to manage and perform all of the setup tasks required for an application implementation. Application Implementation Manager is a predefined role that grants access to Functional Setup Manager and all of its features, such as setup tasks, implementation projects, setup export and import, and setup reports. Therefore, option A is correct. Option B is incorrect because Functional Setup Manager Superuser is not a delivered role. Option C is incorrect because IT Security Manager is a role that grants access to security-related tasks, not Functional Setup Manager. Option D is incorrect because any functional user does not have access to Functional Setup Manager by default. Option E is incorrect because Application Implementation Consultant is not a delivered role.
NEW QUESTION # 16
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 two, enable control at Requisitioning and define the exceptions to only include invoicing
- B. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- C. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- D. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- E. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- F. Define budgetary control at ledger level and only encumbrance control at the business units
Answer: C,E
NEW QUESTION # 17
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account 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?
- A. Account Monitor
- B. Financial Reports with Embedded charts
- C. Account Inspector and its charts
- D. Smart View
Answer: A
NEW QUESTION # 18
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?
- A. The purchase order is Partially Liquidated and the invoice will be Reserved
- B. The purchase order is Open and the invoice is Validated
- C. Both are reserved
- D. The purchase order is Partially Liquidated and the invoice is Partially Reserved
- E. Both are Partially Reserved
- F. The purchase order is Liquidated and the invoice is Partially Reserved
Answer: D
NEW QUESTION # 19
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. Redeploy the chart of accounts
- B. Make sure the tree version was published successfully
- C. Make sure the tree is active
- D. Make sure to flatten the rows of the tree version
Answer: B
NEW QUESTION # 20
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 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)
- A. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
- B. No change
- C. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
- D. Purchase order encumbrance will be released for $2,100 USD
- E. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
Answer: D,E
Explanation:
When a purchase order is matched to an invoice, the purchase order encumbrance is released for the matched amount. In this case, the purchase order encumbrance of $2,500 USD will be reduced by $2,100 USD, leaving a balance of $400 USD. The system will not reserve funds for the invoice because it is matched to a purchase order that has already reserved funds. Funds reservation only happens for non-matched invoices or invoices that are matched to a purchase order with no encumbrance. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Process Budget Journals 12
NEW QUESTION # 21
The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.
What is the reason for this?
- A. A cross validation rule is in place to prevent the resulting combination from being created
- B. The general accountant has a segment value security rule assigned which restricts access to that cost center
- C. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
- D. There is a primary balancing segment attached to the legal entity of the primary ledger
Answer: B
Explanation:
According to Oracle documentation1, the reason why the general accountant is not able to see the cost center 110 in the List of Values for the Suspense Account is that the general accountant has a segment value security rule assigned which restricts access to that cost center. Segment value security rules enable you to control user access to specific segment values or ranges of values. Therefore, option B is correct. Option A is incorrect because the general accountant does not need the Financials Application administrator role assigned to update the cost center for the Default Suspense Account. Option C is incorrect because there is no primary balancing segment attached to the legal entity of the primary ledger. Option D is incorrect because there is no cross validation rule in place to prevent the resulting combination from being created.
NEW QUESTION # 22
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
- B. revaluations and translation to revalue and translate currencies stored in the Essbase cube
- C. calculation manager to perform allocations based on multidimensional balances and budgets
- D. journal entries and journal approval to create journals that update balances to the cube directly
Answer: B
NEW QUESTION # 23
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 the unstable local currency. What would be your recommendation when defining ledgers?
- A. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
- B. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
- C. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances
- D. Run Revaluation to translate into Statistical Currency
Answer: B
Explanation:
The recommendation when defining ledgers for a country whose unstable currency makes it unsuitable for managing your day-to-day business is to use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency. Reporting currencies are representations of a primary or secondary ledger in another currency that share the same chart of accounts, accounting calendar, and accounting method as their related ledger. You can use reporting currencies for online inquiries, reporting, and consolidation. Journal-Level or Subledger-Level Reporting Currencies capture transactional balances at the journal or subledger level and convert them to the reporting currency using daily rates. This allows you to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. You do not need to run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances, as this is a process that adjusts foreign currency balances to reflect current exchange rates, not a way to define ledgers. You do not need to run Revaluation to translate into Statistical Currency, as this is not a supported option. You do not need to create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency, as this is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting representations of the same transactions. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Consolidate Balances 12
NEW QUESTION # 24
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. the approvers who will approve intercompany transactions
- D. automatic or manual batch numbering and the maximum transaction amount
- E. whether to allow receivers to reject intercompany transactions
Answer: A,C,E
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 # 25
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 three statements are true regarding the creation of a control budget? (Choose three.)
- A. Control budgets are always absolute to generate encumbrance accounting
- B. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
- C. A control budget can be associated with a different calendar than accounting calendar
- D. A control budget can allow override rules only if the control level is absolute
- E. The control budget structure has all the chart of account segments as budget segments
Answer: A,B,C
Explanation:
According to the Oracle documentation2, "Control budgets are always absolute to generate encumbrance accounting." Therefore, this is a true statement regarding the creation of a control budget.
According to the Oracle documentation3, "You can associate a control budget with a different calendar than your accounting calendar." Therefore, this is also a true statement regarding the creation of a control budget.
NEW QUESTION # 26
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. Perform an account analysis online
- D. Open a Smart View file saved on your desktop
Answer: A
NEW QUESTION # 27
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. This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
- C. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- D. 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.
- E. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
Answer: C,D
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 # 28
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)
- A. You can use hierarchies to define rules
- B. 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
- C. The Segment Value Security rules do not take effect until you assign the rules to users and products
- D. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
Answer: A,C
Explanation:
You can use hierarchies to define segment value security rules by selecting a parent value and specifying whether to include or exclude its children values1. The segment value security rules do not take effect until you assign the rules to users and products using the Security Console2.
NEW QUESTION # 29
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. the Transaction Account Definition
- B. the AutoAccounting Definition
- C. a Provider and Receiver distribution set
- D. Intercompany transaction type default accounts
Answer: C
NEW QUESTION # 30
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
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 configured separately
- B. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
- D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
Answer: A,D
NEW QUESTION # 31
Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?
- A. Supervisory level approval
- B. Approval Groups
- C. Cost center based approval
- D. Management Chain approval
- E. Dynamic Approval Groups
Answer: A
Explanation:
Supervisory level approval is the most effective AMX builder method for routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal. Supervisory level approval routes journals based on the management hierarchy defined in Human Capital Management (HCM). The Accounting Manager would be the direct supervisor of The General Accountant in HCM, and therefore would receive the journal for approval. Cost center based approval routes journals based on the cost center segment value of the journal lines. Dynamic Approval Groups routes journals based on user-defined conditions and approval groups. Management Chain approval routes journals based on user-defined management chains and approval levels. Approval Groups routes journals based on user-defined approval groups and rules. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Journal Approval 12
NEW QUESTION # 32
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. Financial Statement Generator
- B. Financial Reporting Studio
- C. Smart View
- D. Account Inspector
Answer: B,C
Explanation:
Reference:
According to Oracle documentation3, when creating financial statements, you would like to have a chart, such as a bar graph, included in the report output, you can use Financial Reporting Studio and Smart View as two reporting tools that allow you to achieve this. Financial Reporting Studio enables you to design and generate reports with charts using data from various sources. Smart View enables you to access and analyze data with charts from various sources using Excel. Therefore, options A and C are correct. Option B is incorrect because Account Inspector does not allow you to create charts in financial statements. Option D is incorrect because Financial Statement Generator does not allow you to create charts in financial statements.
NEW QUESTION # 33
You entered a journal and the client is asking for the following information:
The current account balance
What the future account balance will be if the journal is approved and posted How will you get this information?
- A. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
- B. Run a Trial Balance before and after posting
- C. Query the account balance online
- D. View the Projected Balances region in the Create Journals page
Answer: D
NEW QUESTION # 34
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?
- A. 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.
- B. Use Oracle Hyperion Financial Management for this type of complex consolidation.
- C. 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
- 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 creates a ledger set across all ledgers and report on the ledger set.
Answer: C
NEW QUESTION # 35
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
- B. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
- C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
- D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
Answer: A
NEW QUESTION # 36
You want to enter budget data in General Ledger Cloud. Which method is not supported?
- A. File-based Data Import
- B. Entering budget journals
- C. Application Development Framework Desktop Integration (ADFdi)
- D. Direct budget balance updates from a Financial Statement in Smart View
Answer: B
NEW QUESTION # 37
What is the most efficient way to add a new year to the accounting calendar?
- A. Use the Add Year button
- B. Import the periods from a spreadsheet
- C. Add the periods manually
- D. The application automatically populates the next year when you open the first period of a new fiscal year
Answer: A
Explanation:
you can use the Add Year button to add years to the calendar. You can enter the number of years to add to the calendar and confirm whether to add years after the end year or before the start year. Therefore, option D is correct. Option A is incorrect because you cannot import the periods from a spreadsheet. Option B is incorrect because the application does not automatically populate the next year when you open the first period of a new fiscal year. Option C is incorrect because adding the periods manually is not the most efficient way to add a new year to the accounting calendar.
NEW QUESTION # 38
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