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2016 Jul 1Z0-508 exam
Q41. Identify the set up that needs to be completed before you can use cubes.
A. Microsoft Office
D. Report Builder
Explanation: Fusion Accounting Hub leverages the Fusion General Ledger. The Fusion General Ledger combines traditional general ledger functionality with Oracle Essbase functionality, which is seamlessly embedded within the Fusion General Ledger. For example, at the time users create their chart of accounts, the Oracle Essbase cube is created.
Q42. Choose the two Oracle Hyperion Reporting and Analysis products and artifacts, that can be imported into financial Reporting.
A. Dynamic Report (* .des)
B. Impact Manage Transformation Scripts (*. Js)
C. Snapshot Reports (*.rpt)
D. Books. (*.kbk)
Explanation: Oracle Hyperion Reporting and Analysis products and artifacts that you can import into Financial Reporting:
Dynamic report (*.des)
Snapshot reports (*.rpt)
Snapshot Books (*.kbt)
Batch files (*.bch)
Reference: Oracle Hyperion Financial Reporting, User's Guide, Importing
Q43. A user wants to enter a multiple currency journal in the General Ledger. What must the user do to see the conversion rate type, conversion date, and conversion rate columns?
A. At the Journal Header level, accept the default value in the currency field.
B. At the Journal Header level, select a blank value in the currency field.
C. At the Journal line level, accept the default value in the currency field.
D. At the Journal line level, select a blank value in the currency field.
Note: Maintain different conversion rates between currencies for the same period with the Oracle Fusion General Ledger conversion rate types functionality. Four predefined daily conversion rate types are seeded: Spot, Corporate, User, and Fixed, allowing you to use different rate types for different business needs. During journal entry, the conversion rate is provided automatically by the General Ledger based on the selected conversion rate type and currency, unless the rate type is user. For user rate types, you must enter the conversion rate. Define additional rate types as needed. Set your most frequently used rate type as the default. Conversion rate types cannot be deleted.
Q44. Which three options can you use from the Generate Allocations link to open the Submission page?
A. Print Output
B. E-mail the output
C. Notification when this process ends
D. Automatically saveitas an Excel file
E. Fax the output
Explanation: Generating.Allocations.and Periodic Entries Manually
1.From the Navigator, click the.Journals.link to open the Journals work area.
2. In the task pane of the Journals page, click the.Generate.Allocations.link to open the.Submission page.
3. Optionally select one or all of the following options:
* (A) Print Output
* (B) E-mail me the output
* (C) Notify me when this process ends
4. Select a rule or rule set from the list of values.
5. Enter the submission parameters, including.Ledger, Balancing Segment Value, and Period. The application automatically sets the last day of the submission period as the Accounting Date and
Calculation Effective Date.
6. Accept the selected check box for the.Post.Allocations.option to enable the process to post the journal entries.
If you deselect the check box for the Post.Allocations.option, you must post the entry manually or define an AutoPost Criteria Set to automatically post the journal entries.
After the generation process is complete, the journal entries created by the process are available for inquiry on the Journals page.
Reference: Fusion Applications Help, Generating.Allocations.and Periodic Entries Manually
Q45. The reconciliation report shows the Entered or transaction amount of the accounting entries booked to the intercompany receivables and payables accounts for___________.
A. A pair of provider and receiver legal entities
B. A legal entity only
C. A provider only
D. Business segment only
*intercompany reconciliation provides you with reports to assist you with reconciling your intercompany receivables and intercompany payables accounts, and to identify any differences.
* Oracle Fusion Financials expedites the reconciliation process with interactive reconciliation reports that compare open receivables and open payables balances to the corresponding balances in Fusion General Ledger. If differences exist, it performs the labor-intensive process of matching each transaction to its respective accounting entry and automatically finds all transactions and accounting entries that contribute to the out-of-balance situation.
* The Accrual Reconciliation Report is used to analyse un-invoiced receipts and to reconcile the balance of the Accounts Payable accrual accounts.
This report enables you to identify the following problems in receiving, purchasing, inventory, work in process, or accounts payable transactions:
Reference: Oracle Fusion Applications Financial Control and Reporting, Accounting Transactions, Tax Transactions, and Reporting Guide, Intercompany, Reconciliation: Explained
Abreast of the times 1Z0-508 exam topics:
Q46. Choose the Oracle application that will automatically update the chart of accounts values and Hierarchies across multiple Oracle E-Business Suite and Oracle Fusion instances through a single application.
A. Oracle Fusion General Ledger Suite
B. Oracle Fusion Accounting Hub
C. Oracle Hyperion Data Relationship Management
D. Oracle Business Intelligence Enterprise Edition
Explanation: Oracle Hyperion Data Relationship Management, Fusion Edition integration provides the opportunity to perform charts of accounts and hierarchies maintenance. Data Relationship Management is a master data management application and requires licensing. The functionality also establishes corporate wide accounting structures, for Oracle and non-Oracle ledgers, and automatically updates charts of accounts and hierarchies across multiple ledgers.
Reference: Oracle Fusion Accounting Hub Implementation Guide, Oracle Fusion Accounting Hub Features: Overview
Q47. How can you restrict access to dashboards, dashboard pages, and other presentation catalog objects?
A. Use membership controls to limit user access.
B. Assign object security to predefined groups.
C. Create a custom dashboard In Oracle Business Intelligence Enterprise Edition (OBIEE).
D. Use the security filter.
Explanation: Permissions and privileges can be assigned to users directly or through membership in application roles or Catalog groups. From another perspective, permissions and privileges can be assigned explicitly or effectively. Effective permissions and privileges are assigned indirectly through inheritance from application roles or Catalog groups, which is the recommended approach for assignments.
Reference: Oracle Fusion Middleware System Administrator's Guide for Oracle Business Intelligence Enterprise Edition, Managing Security for Dashboards and Analyses
Q48. Which components are used to perform ETL and prebuilt ETL logic while setting up Oracle Business Intelligence Enterprise Edition?
A. Functional Setup Manager and Configuration Manager
B. Information PowerCenter Servicer, and Informatics Repository
C. Metadata Repository and BI Presentation Services Catalog
D. Oracle Business Analytics Warehouse and Oracle BI Presentation Services
E. Oracle BI Server and OLIP data source
Explanation: The Extract Transform and Load (ETL) process must be run by a user with appropriate data security privileges granted on the Fusion Application tables from which data is extracted into Oracle Business Analytics Warehouse.
For this purpose, the Group named FUSION_APPS_OBIA_BIEE_APPID is provisioned during install with the appropriate ETL security privileges (by default, this Group is mapped to the Duty Role named OBIA_EXTRACT_TRANSFORM_LOAD_DUTY).
Q49. Account Rules are specific to ____________.
A. Subledger application
B. Event Classes
C. Event Types
D. Accounting methods
E. Journal Rule sets
* The Create Accounting process uses the values of sources assigned to accounting attributes plus accounting rules to create subledger journal entries.
* Accounting rules can be defined with either a top down, or a bottom up approach. When defining subledger accounting rules from the top down, you will initially define the accounting method followed by components of each rule, which will need to be assigned to it. When defining subledger accounting rules from the bottom up, you will initially define components for each rule and then assign them as required.
* Define accounting rules to create revenue recognition schedules for your invoices. Accounting rules determine the number of periods and percentage of total revenue to record in each accounting period. You can use accounting rules with transactions that you import into Receivables using AutoInvoice and with invoices that you create manually in the Transaction windows. You can define an unlimited number of accounting rules. *Use accounting rules to determine revenue recognition schedules for your invoice lines. You can assign a different accounting rule to each invoice line. Accounting rules let you specify the number of periods and the percentage of the total revenue to recognize in each period. You can also specify whether the accounting rules are of Fixed or Variable Duration. Accounting rules of.Fixed Duration.span a predefined number of periods. Accouning rules of.Variable Duration.let you define the number of periods during invoice entry.
Reference: Oracle Fusion Applications Financials Implementation Guide, Define Subledger Accounting Rules
Q50. Which attribute does NOT need to be considered when creating intercompany transaction?
A. Legal Entity
B. Receivables and Payables Business Units
C. Default Organization contact
D. Default Transaction Type
Note: An intercompany transaction is a transaction between two entities with common ownership. The accounting for intercompany transactions is recorded separate from standard transactions in Oracle Fusion Receivables.
Receivables determines a transaction to be an intercompany transaction based on the first party (legal entity) and third party (bill-to customer) relationship defined in the intercompany accounting setup. When a transaction is marked as intercompany, the intercompany receivables account is used for accounting instead of the standard receivables account derived from AutoAccounting. This applies to transactions both created manually and imported using AutoInvoice.
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