1Z0-211 - Oracle General Ledger 11i Fundamentals
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During a period, several preapproved batches of miscellaneous transactions were entered and released. The project manager informs you that he is unable to view the accounting in the expenditure inquiry form. Which process was likely omitted?
Identify the two setups that control the defaulting of Tax Information on a journal entry. (Choose two.)
Set of Books
Your client is in the process of closing its first year-end. The client completed the accounting cycle and found that several income statement accounts have a remaining balance. What would be the likely cause of these remaining balances?
Natural accounts were defined with incorrect account type.
Which reports would be appropriate as part of a financial month-end close? (Choose all that apply.)
Trial Balance - Detail
Identify two features of Content Sets when creating reports using Financial Statement Generator (FSG)? (Choose two.)
They provide the ability to override row set definition.
They enable the generation of multiple similar reports in a single run.
After you determine your needs and organize your summary account structure, which General Ledger tools can you use to define parent-child values and rollup groups?
Account Hierarchy Manager or Account Hierarchy Editor (provided Applications Desktop Integrator is installed).
has offices around the world, spread across different legal entities. is implementing Oracle General Ledger. Its accounting department wants to know how to reduce the burden of elimination entries. What do you recommend?
Which four does Oracle Consolidation enable you to consolidate? (Choose four.)
multiple subsidiaries with different calendars to one parent set of books
multiple subsidiaries with different currencies to one parent set of books
multiple subsidiaries with same calendar to one parent set of books
multiple subsidiaries to one parent set of books
The Corporation has five segments in its accounting flexfield. For a special Profit and Loss report, they want to sort by the fourth segment, which is product. In which definition would this be done?
You are implementing Oracle General Ledger at a site. is based in the U.S. but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. The company's management in the U.S. wants to see all the transactions in U.S. dollars, whereas the management in Europe wants to see the transactions in euros. The CFO has stated this requirement: While entering the daily transactions the user should have the ability to enter the current exchange rate, but at month end the assets and liabilities in euros could be converted into U.S. dollars at the monthly average exchange rate. Can this requirement be satisfied?
Oracle GL provides this functionality and there is no problem in satisfying the requirement.
Which subledger transfers journal information directly to General Ledger to create an unposted journal entry?
has decided on a chart of accounts structure that consists of four segments: Company - Cost Center - Account - Sub Account. It has one company value only, and wants to have the ability to restrict (limit the appearance of) the lists of Account values and Sub Account values for some cost centers. What are the design option would meet Newco Inc.'s requirement?
Define a value set with Independent validation and Non-Hierarchical Security for each of the three segments: Cost Center, Account and Sub Account. Enable security for all three segments and define security rules to restrict lists accordingly.
Which statement is correct about the differences between the functionalities of parent accounts and summary accounts?
Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts balances cannot be viewed in that form.
has many Financial Statement Generator reports created to produce Profit & Loss statements and Balance Sheet reports. Occasionally has a need to run a report that is slightly different than the standard ones that are already created. Which two types of changes could XYZ make using the Row Order feature? (Choose two.)
display segment values and descriptions
sort based on column values
For each subledger there should be one _____.
What does the elimination program enable you to do? (Choose all that apply.)
eliminate intercompany balances for fully reciprocating elimination that repeat every accounting period
create journal entries for all values in the source account to zero them out and post them to a target account
Which four are valid consolidation tools? (Choose four.)
Financial Statement Generator
Applications Desktop Integrator
Global Consolidation System
Interface Data Transformer
During the testing phase of your implementation, you find that you are unable to delete a journal batch, though it is not yet posted. You ask the technical consultant for help and he e-mails you a checklist of scenarios in which batches cannot be deleted. Which scenarios would be on this checklist? (Choose three.)
Funds are in the process of being reserved for the batch.
The source is frozen.
Funds have been reserved for the batch.
The Consolidation Workbench enables you to _____, _____, and _____. (Choose three.)
access the State Controller
create consolidations sets, which launch multiple consolidations in a single step
create multilevel hierarchies, which you can view using the graphical Consolidation Hierarchy Viewer
Which two statements correctly describe the translation process? (Choose two.)
You can rerun the translation process more than once per period.
Translation for a subsidiary can be initiated from the parent using the State Controller Translate button.
runs the Program-Create Journals, after which the Create Journal Entries Execution Report is automatically created. Identify three components that the report Create Journal Entries Execution Report reports on. (Choose three.)
Purchasing Encumbrance Entries
Payables Encumbrance Entries
would like a consolidation process to consolidate operations in the UK and US. requires a summary of transactions from both companies. Company 01 is located in Chicago; Company 02 is located in London. Both companies share only the same calendar. Which actions should be considered when defining the consolidation process for ? (Choose all that apply.)
Define a consolidation process using the Global Consolidation System by defining Parent Company 90 to consolidate data from Company 01 and Company 02.
Define an elimination set to include a group of related elimination entries.
Define mapping rules to map Company 01 and Company 02 to Company 90.
You are implementing Oracle General Ledger at a client site. The client is based in the US but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multicurrency setup will be part of the implementation. The Controller wants a system which allows the flexibility to enter transactions in any foreign currency, and at the same time automatically performs currency conversion online and in real time. She wants to know whether this requirement could be satisfied. What is the correct response?
Oracle GL provides this functionality and there is no problem in satisfying the requirement.
What is true about the budgetary control summary account template's indication that funds are available?
When the summary account template is a Debit balance type, the amount is positive; when the template is a Credit balance type, the amount is negative.
Your subledger accountants are attempting to import their journals to the general ledger at the end of the period. The journal import processes are completing with a warning and no journals are being generated. Which three steps would you take to troubleshoot this condition? (Choose three.)
Confirm that data was sent from the subledger.
Verify the output of the Journal Import request
Run journal import with all group IDs.
is a national company with five divisions that share the same set of books. Select the statement that best describes the consolidation process for .
Enter eliminating journals and run financial reports.
Which three are part of the Global Consolidation System functionality ? (Choose three.)
View the multilevel structure of your consolidation in a graphical format.
Define mapping rules to determine how subsidiary account balances roll up into the parent.
View the status and monitor subsidiary account balances for any changes that occur after the subsidiary data has been transferred.
After running the Payables Accounting Process and posting the Journal Import, the accountant determines that several invoices have not been transferred to the General Ledger. Which three can cause an invoice to not be transferred to the General Ledger? (Choose three.)
Invoice is on hold.
Invoice is unvalidated.
Invoice is unaccounted.
What is the effect of summary accounts on the efficiency of the posting process?
Use of summary accounts decreases the efficiency of the posting process.
Which three are true about the Global Consolidation System? (Choose three.)
consolidates data from legacy feeder system
performs multidimensional analysis of consolidated financial data using Oracle Financial Analyzer
automatically generates journal entries to eliminate intercompany balances based on defined rules
When you change a summary account template funds check level from None to Advisory or Absolute, you need to _____.
delete the original template and then recreate it for the appropriate funds check level
Which report would provide information about the processing type (parallel or sequential) that may be defined for reports?
Content Set Summary Listing
One of 's clients wants the ability to report with Financial Statements Generator (FSG) and perform account inquiry at the summary (business unit) level of its Cost Center segment. A business unit is a group of cost centers and a business unit manager typically has several cost centers under his or her responsibility. Which option will meet the client's requirements?
Define parent cost centers and a hierarchy of parent-child cost centers. Define Rollup Groups for the parent cost centers, and Summary Accounts. Create FSG based on the parent cost center values or Summary Accounts.
is implementing Oracle E-Business Suite 11.5.10. It wants to use a global chart of accounts. It has business operations in Canada, the United States, France, and Spain. You are told that both France and Spain require Document Sequencing whereas Canada and the United States do not. There are three legal entities in Canada, four in the United States, two in France, and two in Spain. All legal entities have the same fiscal year end. Advise the DBI Enterprise corporate controller what is feasible, in order to set up the minimum number of set of books, without customization.
1 set of books for Canada, 1 for the U.S. and 2 for France and 2 for Spain. Enable Document Sequencing for France and Spain sets of books.
has a legal entity in each of its business operations in the United States, Canada, Malaysia, Singapore, and Italy. The controller in Italy advises that the corporation must use the Italian statutory accounts as its natural accounts. The corporation decides to define five sets of books (one for each country) but wants to use a single, global chart of accounts structure. Choose a possible design (for the sets of books) that uses a single, global chart of accounts structure, and also meets the Italian controller's requirement.
The list of values in the Account segment includes a range reserved for Italy.
Your global chart of accounts structure includes the Company (balancing) segment and Intercompany segment (with Intercompany segment qualifier) in order to properly identify the intercompany trading party. Which statement is NOT true about using an Intercompany segment in the chart of accounts structure? (Choose the statement that is NOT true.)
If a journal entry is balanced within the same company value in the balancing segment, GL automatically uses the value in the Intercompany segment to create additional journal lines for the trading company.
Select the three true statements about mapping rules. (Choose three.)
Mapping sets enable you transfer data from multiple subsidiaries simultaneously.
A rollup rule tells General Ledger what detail level of information to transfer and how to roll that information up to the parent.
You can define a combination of segment values and account rules.
is getting ready to complete its month-end process. It needs to create a profit and loss statement and it wants to use the Financial Statement Generator feature to create the report. Which two elements are required to create the report? (Choose two.)
After discussions with the client, the implementation team decides that the GL Autoallocation functionality would help satisfy the clients requirements to automatically allocate the rent and other expenses to all the departments based on the defined formula. The GL accountant comes to you with a requirement that the approver of the journal should be automatically informed once the journal is generated. What is your response?
Autoallocation uses Workflow, so there is no problem in satisfying this requirement.
the GL accountant, comes to you and says that he has defined the budget, and budget amounts have been entered and approved by management. After approval he wants his assistant accountants to NOT be able to update this budget. What is your response?
If the client wants to do this, then the budget status should be Frozen.
Mark, the GL accountant comes to you and says that he is running the tests to check budget functionality. He says that the GL period is closed, but he was able to post the budget journal in a closed period. You check the setups and confirm that the GL period in which Peter was able to post the budget journal is closed. What explanation do you provide to Mark?
The budget year is Open.
wants to ensure that no changes are made to unposted journals that come in from their subledgers. At which setup can you control this?
Which four statements are true about the Global Intercompany System AutoAccounting Rules? (Choose four.)
Sender Clearing Rules automatically generate the sender clearing transaction line.
You can use only one set of Autoaccounting rules per pair of sender/receiver chart of accounts.
Receiver Clearing Rules automatically generate the receiver clearing transaction line.
Receiver Distribution Rules automatically generate the receiver transaction distribution line(s).
A General Ledger user at opens the account inquiry screen, chooses a line item, and wants to drill down to Sub-ledger and find out more details about an Accounts Payable invoice. The user is unable to drill down. What is the likely explanation for this? (Choose two.)
Journal source was not set up to import references.
Drilldown was option not added to responsibility.
In creating a report, what is true about the column set? (Choose two.)
Formats can be set for each column.
Calculations can be performed using columns.
the GL accountant comes to you and says that she has defined two budgets, but after selecting the budget organization in the Enter Budget Amounts form, she can select only one budget from the list of values (LOV). What is your response?
The first fiscal year of the budget was never opened.
is a national company with five divisions that share the same set of books. Select the statement that best describes the consolidation process for ABC Corporation.
Enter eliminating journals and run financial reports.
has many business units set up as company values in the Company (Balancing) segment for three sets of books: Canada, U.S. and Brazil. The sets of books share a common chart of accounts (COA) structure. The COA structure also has an Intercompany segment (with Intercompany Qualifier) that uses the same value set as the Company segment. Which three options will best use GL Intercompany functionality, given the multiple sets of books that share a common COA? (Choose three.)
Enable security for the Company segment, and define appropriate security rules, and assign them to the responsibility for each set of books.
Enable the Balance Intercompany Journal option when defining each set of books.
Create a clearing company for each set of books to handle many-to-many intercompany accounting in each set of books.
You are implementing Oracle General Ledger at a site. is based in the US but has a presence in many countries worldwide, and has transactions in multiple currencies. The implementation team decides that GL multi currency setup will be part of the implementation. John, a junior consultant helping you in the implementation effort, comes to you and says that he is testing the system and entering journals in US dollars, yen and euros. He says that he is able to enter the journals in US dollars and euros, but cannot enter the journals in Japanese yen. What possible explanation can you provide to John for this?
Yen currency has not been enabled.
To review available Financial Statement Generator elements, which two reports would be helpful? (Choose two.)
Column Set Summary Listing, Row Set Detail Listing