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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Implementing and Managing Journals | 20% | - Journal configuration - Key features and capabilities of journal processing |
| Topic 2: Processing Intercompany | 15% | - Intercompany transaction processing and reconciliation - Intercompany transaction configuration |
| Topic 3: Performing Period Close | 15% | - Period Close process overview - Period Close configuration |
| Topic 4: Configuring Financial Reports | 15% | - Financial reporting options - Financial report and analysis creation
|
| Topic 5: Leveraging AI/ML/Mobile and Automation Features | 3% | - Use AI/ML/mobile and automation features for process efficiency |
| Topic 6: Enabling Redwood Capabilities | 2% | - Enable Redwood capabilities and understand configuration impacts |
| Topic 7: Implementing Enterprise and Financial Reporting Structures | 15% | - Configuration of Financial Reporting Structures - Key features and capabilities of Enterprise and Financial Reporting Structures
|
| Topic 8: Implementing Ledgers | 15% | - Ledger configuration |
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NEW QUESTION # 21
Which two statements are true regarding the Translation process? (Choose two.)
Answer: A,B
Explanation:
According to Oracle documentation1, the following statements are true regarding the Translation process:
Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account, and if necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process enables you to translate balances from one currency to another for reporting purposes.
The Translation process calculates any difference between the translated balance and the entered balance and posts it to the Cumulative Translation Adjustment account. The Revaluation process enables you to adjust balances denominated in foreign currencies to reflect current exchange rates. The Revaluation process should be completed before the Translation process to ensure that the balances are accurate. Therefore, options A and B are correct. Option C is incorrect because the Translation process should be run after posting Period Close adjustment entries. Option D is incorrect because the Translation process can be used for translating the balances of primary ledgers, secondary ledgers, and reporting currencies. Option E is incorrect because the Translation process can be used to translate both balance sheet accounts and income statement accounts.
NEW QUESTION # 22
You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor are a. You use Calculation Manager to create the allocation.
Where do you reference the statistical balance within the allocation component?
Answer: B
Explanation:
The source is where you specify the amount to be allocated. You can use various sources, such as account balances, fixed amounts, or statistical balances. In this case, you want to use the statistical balance of the floor area as the source of the allocation. The basis is where you specify the driver or factor that determines how the source amount is distributed among the targets. The target is where you specify the destination accounts that receive the allocated amount. The offset is where you specify the account that records the opposite side of the allocation entry. The allocation range is where you specify the scope of the allocation, such as the ledger, balancing segment, or legal entity.Reference:
Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 3: Allocations and Periodic Entries, Allocation Components Oracle Financials Cloud Using General Ledger, Chapter 3: Allocations and Periodic Entries, Overview
NEW QUESTION # 23
Budgetary control for accounts 5020 and 5021 has a budget of $90,000 USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each.
A Fund of $50,000 USD is available for account 5020 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?
Answer: D
NEW QUESTION # 24
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
Answer: D
NEW QUESTION # 25
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 # 26
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