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| Section | Weight | Objectives |
|---|---|---|
| Performing Period Close | 15% | - Period Close configuration - Period Close process overview |
| Configuring Financial Reports | 15% | - Financial report and analysis creation
|
| Implementing and Managing Journals | 20% | - Key features and capabilities of journal processing - Journal configuration |
| Implementing Enterprise and Financial Reporting Structures | 15% | - Key features and capabilities of Enterprise and Financial Reporting Structures
|
| Implementing Ledgers | 15% | - Ledger configuration |
| Leveraging AI/ML/Mobile and Automation Features | 3% | - Use AI/ML/mobile and automation features for process efficiency |
| Processing Intercompany | 15% | - Intercompany transaction configuration - Intercompany transaction processing and reconciliation |
| Enabling Redwood Capabilities | 2% | - Enable Redwood capabilities and understand configuration impacts |
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NEW QUESTION # 141
Users with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The accounting configuration completed successfully.
What should you do to allow access to the ledger?
Answer: B
Explanation:
Data access sets are collections of ledgers that define the data security for users who access General Ledger.
Users can only access the ledgers that are assigned to them through data access sets. To allow users with the General Accountant job role to access the UK Ledger, you need to create a data access set that includes the UK Ledger and assign it to the user/role combination. You also need to specify the access privilege for the data access set, which can be Full Ledger, Both Read and Write, or Read Only. In this case, you need to select Both Read and Write to allow read/write access to the full ledger. References:
Implement General Ledger
GL_ACCESS_SET_LEDGERS
The Default Data Access Set
Overview of General Ledger Security
NEW QUESTION # 142
You notice that a lot of erroneous address data is being saved. How do you ensure that only valid addresses are entered in the system?
Answer: B
Explanation:
Geography validation is a feature that enables you to validate the address information entered for a location against the geography hierarchy defined for a country. You can set the Geography Validation for Country option to one of the following values:
No Validation: No validation is performed on the address information.
Warning: A warning message is displayed if the address information does not match the geography hierarchy, but the user can still save the address.
Error: An error message is displayed if the address information does not match the geography hierarchy, and the user cannot save the address until the error is corrected. To ensure that only valid addresses are entered in the system, you should set the Geography Validation for Country option to Error. This will prevent users from saving erroneous address data and enforce data quality and accuracy. References:
Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation, Chapter 2: Define Geographies, Section: Geography Validation Oracle Financials Cloud: Implementing Enterprise Structures and General Ledger, Chapter 2: Define Geographies, Section: Geography Validation
NEW QUESTION # 143
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?
Answer: C
Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as this indicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing.
Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger
2022 Implementation Professional Objectives - Configure and Process Intercompany 12
NEW QUESTION # 144
Which three factors should you consider while specifying Intercompany System options?
Answer: B,C,D
Explanation:
Intercompany System options are used to set up intercompany processing rules at the enterprise level, based on your specific business needs. They help you standardize and simplify transaction processing, minimize disputes, and reduce administrative costs. The three factors that you should consider while specifying Intercompany System options are:
Automatic or manual batch numbering and the minimum transaction amount: These options help you control the numbering and the size of intercompany transactions. You can choose to use system generated or manual batch numbering, and you can specify a minimum threshold amount for intercompany transactions to prevent immaterial transactions. To use the minimum transaction amount option, you must also select an Intercompany currency option.
Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies: This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions. You can choose to standardize transaction processing by selecting an Intercompany currency, which means that all intercompany transactions created in the Intercompany module are entered in this currency. Alternatively, you can choose to allow intercompany transactions in local currencies, which means that intercompany transactions can be entered in the ledger currency of the sender or the receiver.
Whether to allow receivers to reject intercompany transactions: This option helps you handle the approval and dispute resolution process for intercompany transactions. You can choose to allow receivers to reject intercompany transactions if they disagree with the sender's information, such as the amount, the account, or the date. If you enable this option, you must also specify the rejection reason and the notification details for the sender.
:
Intercompany System Options
Implementing Enterprise Structures and General Ledger
Implement General Ledger
NEW QUESTION # 145
Which two statements are true about the Intercompany Reconciliation report?
Answer: B,D
Explanation:
The Intercompany Reconciliation report is a tool that helps you reconcile your intercompany transactions and identify any discrepancies between the provider and receiver sides. The report shows the entered or transaction amount of the accounting entries booked to the intercompany receivables and payables accounts for a pair of provider and receiver legal entities. The accounted amounts may be different when the conversion rates used for the intercompany receivables and payables are different. Therefore, you can run the report using an additional currency and conversion rate that converts all amounts into a common currency for comparison. This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions. The report also displays the intercompany receivables and payables balances in summary for a period, and any differences between them. You can drill down on the links to view the balances by source and then by journal lines. You have full drill-down capabilities to the general ledger journal, subledger accounting entry, and source receivables or payables transaction. References:
Intercompany Reconciliation
Intercompany Reconciliation Reports
NEW QUESTION # 146
......
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