1Z0-508 Online Practice Questions and Answers

Correct Answer: D

Defining intercompany Receivables and Payables accounts is required before using the intercompany feature.

Note:

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You must define Intracompany balancing rules if you want to balance journals automatically. You may define as many or as few balancing rules as you choose, and each balancing rule may have one or many accounting rules.

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Intracompany balancing allows you to define rules according to the business needs of your company. When there are many balancing rules defined, the Balancing API uses an evaluation order to pick the appropriate rule. Once the balancing rule is selected, there may also be several accounting rules that must be evaluated on the balancing rule. The Balancing API uses the same order for evaluating accounting rules, and understanding this evaluation order will help you define your balancing rules and accounting rules.

Reference: Oracle Financials Implementation Guide, Intercompany and Intracompany Balancing

Correct Answer: C

Correct Answer: AB

Mapping sets enable you to assign a specific output value to an Accounting Flexfield or Accounting Flexfield segment. You use mapping sets when you set up account derivation rules. Account derivation rules determine the Accounting Flexfield values for subledger journal entries.

Oracle Projects does not provide any predefined mapping sets. You can optionally define your own mapping sets. When you enter input values for mapping sets, you can select from a list of values based on either an existing lookup set or value set. You also specify the Accounting Flexfield segment and select segment values from a list of values.

For example, you can select a lookup type of service type for the input and the Accounting Flexfield segment program as the output. You then select the service type and program segment values from lists of values as you define each pair

Reference: Oracle Projects Implementation Guide, Mapping Sets

Correct Answer: A

Manage Allocations and Period Entries is a manual task in the implementation project. Use the Allocation Manager to create allocations and other formulaic journal templates for generating periodic journal entries automatically. Base formulas

on multiple criteria.

You must perform an external procedure outside the Setup and Maintenance work area to complete this task. In order to setup your allocations rules, navigate to the Journals work area and click the Create Allocations Rules task from the

Tasks pane. This task navigates you to Allocation Manager, a framework that enables you define your allocation rules and formulas using a graphical interface and intuitive step-by-step wizards.

Oracle: Oracle Fusion Applications Financials Implementation Guide, Manage Allocations and Period Entries

Correct Answer: BC

Intercompany Reconciliation: Explained

The main goal of the reports is to make it easy for you to identify either the receiver side or provider side of a transaction that has not been posted to the intercompany receivables or intercompany payables account.

The reports show the following intercompany lines:

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(B)Intercompany receivables and intercompany payables lines generated by the intercompany balancing feature

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(C)Intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction The following are not included on the intercompany reconciliation reports:

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(not A)Ledger balancing lines generated when the primary balancing segment value is in balance, but either the second balancing segment or the third balancing segment is out of balance

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(not D)Clearing company balancing lines Reference: All > Financial Control and Reporting > Close Accounting Period > Reconcile Accounts, Intercompany Reconciliation: Explained

Correct Answer: D

Event classes group similar event types and enable the sharing of accounting definitions. An event type represents a business operation that you can perform for an event class.

An accounting event has both an event class and an event types that affect how the Create Accounting program determines the subledger accounting for it. Event types provide the lowest level of details for storing accounting definitions. For

example, the Payables event class Invoices is subject to three types of business operations that are represented by the following event types:

Invoice Adjusted, Invoice Cancelled, Invoice Validated.

Reference: Oracle Payables User's Guide, Payables Accounting Events

Correct Answer: BCD

If you change the status of a tree structure, the status of the trees and tree versions associated with that tree structure also changes.

The following table lists the different statuses of a tree structure.

Status, Meaning

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Draft

Yet to be published or is in a modified state.

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Active

In use and based on which one or more trees or tree versions are created.

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Inactive

Not in use.

Reference: Oracle?Fusion Applications Financials Implementation Guide, Setting Status

Correct Answer: CD

Oracle Hyperion Reporting and Analysis products and artifacts that you can import into Financial Reporting:

Dynamic report (*.des)

Snapshot reports (*.rpt)

Books (*.kbk)

Snapshot Books (*.kbt)

Batch files (*.bch)

Reference: Oracle Hyperion Financial Reporting, User's Guide, Importing

Correct Answer: C

multiperiod accounting

(Oracle Subledger Accounting) Recognition of revenue or a prepaid expense or revenue across multiple GL periods. Deferred revenue and expense recognition are examples of multiperiod accounting.

Multiperiod accounting is a flexible, powerful tool which allows users to systematically record accounting entries across multiple periods

Note:

* account derivation rule

(Oracle Subledger Accounting) A component of the Accounting Methods Builder (AMB) that determines the Accounting Flexfield for the subledger journal entries.

Correct Answer: ADE

The FRExecute function syntax:

FRExecute(ReportName[Type={1,2};ComponentType={1,2};ComponentName={Grid1,Grid2,Chart

1,Chart2,Chart3};Page={1,2,..;.}Cell=FRFormula}

where:

ReportName is the name of the report.

Type1 is a dynamic report and Type2 is a Snapshot report.

ComponentType1 (optional) is a grid and ComponentType2 (optional) is a chart.

ComponenentName (optional) is the grid or chart name.

Page (optional) is the page number.

Cell (optional) is the date cell formula. The cell syntax is cell=cell[row,col], or cell=[row,col]

Note: The FRExecute function enables you to embed a Financial Reporting report or report section into a Microsoft Word document. You can include a report, a report type (dynamic orsnapshot), or specify selected areas in the report such as

a grid, chart, page, text box, text area, or cell.

Reference: FRExecute Syntax

Correct Answer: B

The Create Accounting program processes eligible accounting events to create subledger journal entries. To create the subledger journal entries, the Create Accounting program applies application accounting definitions that are created in the Accounting Methods Builder (AMB).

The Create Accounting program:

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Validates and creates subledger journal entries *Transfers the final journal entries in the current batch run to General Ledger and starts the General Ledger posting process *Generates the Subledger Accounting Program Report, which documents the results of the Create Accounting program

Note: Create Accounting Program parameters include:

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Ledger: limits accounting events selected for processing to those of a particular ledger

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Process Category: restricts the events selected for accounting to a particular process category

Reference: Oracle Subledger Accounting Implementation Guide

Correct Answer: E

Oracle Business Intelligence Mobile, part of Oracle Business Intelligence

Foundation Suite, provides the ability to deliver analyses, dashboards, alerts, and other BI content directly to mobile devices, enabling users to view and then take action on BI insights wherever they are.

Intelligence Mobile gives you the full spectrum of BI functionality on hoc query, OLAP analysis, dashboards and scorecards. You even have the ability to turn insight into action directly from your mobile reports and dashboards.

Reference: Oracle Business Intelligence Mobile, Data Sheet

Correct Answer: B

Oracle Hyperion Smart View for Office (Smart View) is a component of Hyperion Foundation Services. Smart View provides a common Microsoft Office interface designed specifically for Oracle's Enterprise Performance Management (EPM) and Business Intelligence (BI). Using Smart View, you can view, import, manipulate, distribute and share data in Microsoft Excel, Word and PowerPoint interfaces. It is a comprehensive tool for accessing and integrating EPM and BI content from Microsoft Office products.

Correct Answer: C

Note: The Applied to Amount accounting attribute is used to calculate the accounted amount and gain or loss in cross-currency applications when business flows are implemented. This attribute value is used to calculate the accounted amount when a source is mapped to the Applied to Amount attribute on a journal line type and the entered currency is different than the original currency entered.

Correct Answer: ACD

Oracle Business Intelligence Mobile, part of Oracle Business Intelligence Foundation Suite, provides the ability to deliver analyses, dashboards, alerts, and other BI content directly to mobile devices, enabling users to view and then take action on BI insights wherever they are.

Intelligence Mobile gives you the full spectrum of BI functionality on hoc query, OLAP analysis, dashboards and scorecards. You even have the ability to turn insight into action directly from your mobile reports and dashboards. Reference: Oracle Business Intelligence Mobile, Data Sheet