1Z0-511 - Oracle E-Business Suite R12 Project Essentials Exam
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How many questions are there on the 1Z0-511 exam?
There are 70 questions on the 1Z0-511 exam to be completed in 120 minutes.
How long is the 1Z0-511 exam?
The 1Z0-511 exam is 120 minutes to complete 70 questions.
How much does the 1Z0-511 exam cost?
The 1Z0-511 exam is $245. The exam provider is Pearson Vue and you can register for the exam on their website.
What is the best way to study for the 1Z0-511 exam?
The best way to study for the 1Z0-511 exam is to practice at Exam.com.
A project is undertaken for a customer where all labor costs are non-billable, and Non-Labor costs are billable if the accumulated costs incurred are greater than $10k. How can Oracle Projects be implemented to support this?
Use transaction controls tobilling Non-Labor elements, capture the value on the project, and then use the Non-Labor billing extension to calculate when an activity is billable.
A US-based company is providing resources to a UK subsidiary and has implemented Oracle Projects intercompany billing solutions. How would the US company create the Accounts Payable invoice in the UK operating unit?
Invoice automatically createdas part of the PRC: Tieback Invoices fromReceivables in the USProject ledger
Identity three transactions that can be entered as a pre-approved expenditure batch:
You are setting up an AutoAccounting rule and trying to use "Class Code" as the parameter for that rule. Which setup must exist in order to use "Class Code" as one of the parameters?
Enable AutoAccountingfor one ClassCode ofaClassCategory.
A project has been mistakenly set up as a capital project, instead of a contract project. The project has already incurred expenditure. How can this be remedied?
A new project should be set up and costs transferred.
The Profile option "PA: Cross Project User-Update" is set to "Yes" for a Projects module user. Which two statements apply?
The userwill be able to update projects across all Operating Units.
The user must alsohave Organization Authority forall Operating Units to updateall projects.
An organization has agreed to bill rates based on a person's job, which are updated annually. The rates are recorded on a default bill rate schedule that is attached to each project. An employee has and HR assignment job of Consultant. However, the employee is temporarily working on a project as a Project Manager. What is the correct way to ensure that the employee's time is billed correctly?
Use the assignment override at the project level.
A contractor is engaged to carry out a statement of work by a customer. The contract is fixed price, and milestone payments will be made based on the individual completion of agreed deliverables. The contract specifies that 10% of any invoice totals must be withheld. The exception to this rule is that if certain deliverables are met ahead of the agreed schedule, then the full amount can be invoiced. How would this scenario be set up in Oracle Projects?
CustomerRetention Billing is implemented with a Withholding Term ofExpenditure Category.
A customer requires budgetary Integration with General Ledger for what will function as an "Approved Cost" budget. The customer also wants project managers to maintain cost budgets derived from the Staffing Plan maintained in the workplan. Which budgeting approach will support this requirement?
FinancialPlan-based "Approved Cost" budget and Forms-based "Staffing Plan" budget
You implement Project Manufacturing along with Project Costing for manufacturing company. You define various expenditure types in which few are specific to Project Manufacturing. Identify the three setups that are required to have an expenditure type specific to Project Manufacturing.
Rate Required is enabled for theExpenditureType.
"Work In Process" class is associated with the Expenditure Type.
"Inventory" class is associated with the ExpenditureType.
A client requires a project definition that allows for charging expenditures to the project at a higher Work Breakdown Structure level than where the manually entered percentage complete progress is captured. Which three Shared Structure relationships will support this requirement?
A customer wants to make a new classification mandatory on all their new projects. Select the three options that could help them accomplish this.
Define the classification as Mandatory in theClassification configuration.
Identify the correct setup to Integrate Project costing with Oracle Inventory.
In Oracle Inventory, enable Project Cost Collection for each organization.In Oracle Projects, define an expenditure type with class "Inventory."Define the project-related transaction type in Oracle Inventory.
After receiving supplier costs from the Oracle Payables Supplier Invoices transaction source vow customer wants to perform adjustments in Oracle Projects. Which three setups should exist?
TransactionSource enabled for Adjustments
Default Supplier Cost Credit Account under project implementation options
AutoAccountingfor Supplier Invoice Cost Account
A customer has provided a purchase order for $100k. The customer issues an additional $20k to the original purchase order. How would you invoice the total amount of $120k on only one invoice as per the terms of the contract?
Create a separateagreement and funding for $20k.
In which two circumstances would it be appropriate to deselect the "Interface Revenue to GL" option in System Implementation Options, before you run the Interface to GC?
During data migration ifRevenue is already in General Ledger
When Revenueis handled in Accounts Receivable
A company has different organization requirements for HR, Payroll, Finance, and Projects. How can the company achieve this?
By configuring a shared organization hierarchy forProjects and Payroll
A customer enables transaction controls at the Project level. Oracle Project Costing checks the control when the customer ________.
enters an online or preapproved expenditureitem
You have defined a Non-Labor resource "Mini Truck" with an expenditure type "Vehicle" that has a rate of $100. This resource is attached to three Non-Labor resource organizations: "Construction-East," "Construction-West," and "Construction-Central." How do you set up a rate of $150 for usage charges when the "Mini Truck" owned by "Construction- Central" is charged to a project?
Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to"Construction- Central."
A customer is planning to upgrade from 11/to R12 to use Subledger Accounting (SLA). Identify the three options available to the customer.
Configure SLA without using the existing AutoAccountingsetup.SLAgenerates accountingcombinations without AutoAccounting.
Define alternative accounting rulesin SLA to overwrite the defaultvalues provided byAutoAccounting.
Use the existingAutoAccountingsetup only. SLA is not applicable to Projects because Oracle Projects hasAutoAccounting.
A company generates revenue at period end, but bills monthly in advance. The customer is invoiced in April with project starting in May and the first project is due to be recognized at the end of May. What are the accounting entries at the end of May?
Debit:ReceivableCredit: Unearned Revenue
Identify three transactions for which Oracle Project Costing enforces budgetary controls.
project-related purchase requisitions and purchase orders entered in Oracle Purchasing
supplier invoices entered in Oracle Payables
contingent worker purchase orders entered in Oracle Purchasing
In a manufacturing company, there is a need to define 50 different jobs for engineers in Human Resources. For those 50 jobs, Oracle Projects has only 20 equivalent jobs for Billing. What functionality do you use to link these Human Resources and Projects jobs?
An organization has specific departments that manage capital projects. How would you ensure that only these departments own capital projects?
Use the settings in "Additional Details" of the Project/Task owning organization classification.
A customer has two operating units: US and Ireland. A project that is set in the Ireland operating unit requires the services of employees from the US operating unit. Identify three mandatory steps that must be completed for the employees in the US to enter their time on the project and for costs to be successfully distributed.
Define providercontrolsin US and receiver controlsin Ireland.
Setup a new transaction source to receive Intercompany transactions in Ireland.
For theprojectinIreland, select "Allow Cross Charges to all Operating Units within Legal Entity".
A company generates revenue at period end, but bills monthly in arrears. The first project revenue is due to be recognized at the end of May and the first invoice sent to the customer in June. What are the accounting entries at the end of May?
A project has two customer billing elements. One part of the project is based on a fixed fee and the other part is a variable based on a cost plus basis. The customer requires separate invoices for fixed fee elements and variable works elements. How can agreements be used to provide separate invoices?
Create each element as a top task on the project and create an agreement for variable works and onefor fixed fee.Then fund the project at the top task level.
A project manager would like to find out how much event revenue was accrued against a project up to and including a specific date. Where would this information be available?
Events form within Project Status Inquiry
A one-time additional public holiday has been announced for this year. You update the PA Calendar, which is used for Resourcing with this exception. Select the two options required to ensure that this change is reflected in the existing assignment on resource calendars.
Run"PRC: Generate CalendarSchedules."
Run "PRC: Rebuild Resource Timeline."
You define assets for your project and assign them at the project or task level. What should be the value of "Project Asset Type" to generate asset lines?
A customer is using Oracle Payables and Oracle Projects. The customer has two suppliers set up with names X and Y, respectively. Supplier Y has been merged with Supplier X. The Supplier Merge Program is run from the Supplier Merge option in Oracle Payables and you have chosen to merge all transactions. What will happen to the supplier references on transactions related to Supplier Y that are already interfaced to Oracle Projects?
The supplier references to Supplier Y will be modified to Supplier X for all transactions existing in Oracle Projects.
Company ABC wants to deploy workplan task structures where the lowest tasks represent deliverables. They want to collect costs at a level higher than the lowest tasks for groups of deliverables. Which two task structure relationships are available for them to consider?
Utilize Task-based mapping structures.
Defineaseparate branch of task hierarchy for deliverables.
A customer is billed using deliverable billing events, which are currently approved by the customer and the finance director before invoicing. There are often invoices awaiting the finance director's approval and release. The Finance director would like to use functionality that allows all invoices to be approved and released automatically. How can this be achieved?
Implement theinvoice approval/release extension.
Your customer has set up a contract project with a distribution rule Work/Work. Identify three setup options to:
Setup revenue categories as required.
Define AutoAccounting rules to derive revenue account based on revenue category.
Definegrouping option byrevenuecategoryon the invoice format and attach the invoice format at the project type level.
The Finance Director is concerned that some of his or her project revenue may be overstated. What it should be reviewed to understand the revenue position on each project?
the Project Summary unbilled receivables and unearned revenue report, which will identifyallunearned revenue
Your organization has configured employee rate schedules. Which three schedules can utilize employee rate schedules when delivering a project?
Cost rate schedules
Bill rate schedules
A new contract project is created for work for a customer by using event-based billing. A decision has been made to give a discount to the customer on a particular invoice. You want to apply this discount and reduce the invoice without affecting revenue. Which event type should be used to achieve this?
You have imported Labor transactions into Oracle Projects from Oracle Time and Labor by running the "PRC: Transaction Import" program. What is the correct sequence to run the concurrent programs listed below to transfer the cost and accounting entries of these transactions to General Ledger? 1. PRC: Distribute Labor Cost 2.PRC: Transfer Journal Entries to GL 3.PRC: Create Accounting (with the Transfer to GL option set to "No") 4.PRC: Interface Labor Costs to GL 5.PRC: Generate Cost Accounting Events 6.PRC: Distribute and Interface tabor costs to GL
1, 5, 3, 2
What type of project will a company require to use Organization Forecasting?
Which three types of People Resources does Oracle Projects support?
Your client has expressed a desire to produce and summarize invoice lines for Non-Labor transactions by type of expenditure based on high level tasks of the project. Which invoice formal grouping should he used to achieve this?
Your company wants to define all its equipments as Non-Labor resources to track the cost incurred on the usage of these equipments, when defining the equipment. When defining the equipment as a Non- Labor resource in the system, you need to assign an expenditure type to it. What kind of expenditure type to it. What kind of expenditure type can be assigned to a Non-Labor resource?
expenditure type defined with Expenditure Type Class as Miscellaneous Transactions
An organization posts project costs to the balance sheet as they are incurred. Each month they recognize project revenue on each project. Select the option that ensures that costs are credited from the balance sheet and debited to profit and loss as revenue is recognized.
Implement a projectrevenue extensionwithappropriate event types and AutoAccountingdefinition.
Which two options are not task attributes for financial task structure?
An organization uses Oracle Projects and has fully installed Oracle Human Resources. Which statement does not apply to this scenario?
Organization Hierarchiescan be defined in Oracle Projects.
Which three options would result in a billing event being excluded from an invoice?
No event date has been entered.
The event dateis later than the invoice date when the process for draftinvoicegeneration issubmitted.
No revenue amount has been entered on the event.
A project manager wants to create a revenue budget based on the project agreement and allocated funding. How can this be achieved?
by selecting the "baseline project without budget" option, which will createa revenue budgetautomatically based on project funding
Identify two predefined transaction sources that Oracle Projects uses to import the transactions generated within Oracle Projects.
Your company has two separate expenditure types to capture straight time and overtime labor transactions across all projects. When running cost distribution for labor transactions, the straight time labor must be charged to a labor expense account and overtime labor costs to an overhead expense account. How would you set up two different expense accounts?
Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Account."
An organization wants to consolidate work based billing across multiple projects (produce one invoice for a single customer based on multiple contract projects). Which two methods will help them accomplish this?
Create draft Invoices against individual projects, and consolidate them in Receivables.
Run theinvoice consolidation concurrent request to produce a singleinvoice.