- What is Legal Entity?
- a)Legal entity is a recognized party with rights and responsibilities given by legislation.
- How many Segments are in Accounting Flexfield (AFF)
- b)30 in total (Min 2 – Max 30)
3. What is the structure of KFF in the Accounting Flexfields? We create and show you these segments in the Oracle Fusion Financials Training
- a)Company
- b)Department
- c)Account
- d)Services
- e)Future Use1
- f)Future Use2
- List the mandatory Flexfield Qualifiers in Oracle fusion financials?
- a) Primary Balancing Segment – Company
- b) Natural Account - Account
- What is the purpose of Dynamic Insertion?
- a) At run time to create code combinations
- What is Fiscal Calendar in Oracle Cloud Financials?
- a) Fiscal Calendar (Other than Jan to December)
- What Roles are used in GL?
- General Accountant
- General Accounting Manager
- What is the role used to create User and assign roles?
- IT Security Manager
- What are 4C’s ?
- a)Chart of Accounts
- b)Calendar
- c)Currency
- d)Convention Method
- What are the type of Flexfields ?
- Key flexfield
- Descriptive flexfield
- Cross Validation rule applicable?
- a)It’s a feature of Key flexfield, applicable on Value Sets.
- What is the status of Periods?
- a)Never Open
- b)Open
- c)Closed
- d)Future Enterable
- e)Permanently Closed
- Newly Entered Journal Status?
- a)
- b)Posting statuses.
- c)Unposted
- d)Pending
- e)Processing
- f)Selected for posting
- g)Posted
- h)Error
- GL Journal posted transactions is impacted with which table ?
- GL_Balances
- Posted Journals can be rectified by which Process ?
- a)Reverse the Journal
- Define Mass Allocations?
- a) A single journal entry formula that allocates revenues and expenses across a group of cost centres, departments, or divisions.
- Rate types available for Revaluation?
- a)Daily rates
- b)Historical rates
- c)The revaluation rate is the inverse of the period-end rate.
- Revaluation Journals are created in which currency?
- a)Functional Currency
- Definition of Retained Earnings Account in Oracle cloud financials?
- a)GL posts the net balance of all income and expenses accounts from the prior year to this account when you open the first period of a fiscal year.
- How do you decide on the Chart of Account Structure?
- a)The Chart of account structure depends upon the reporting requirement.
- What is the purpose of Chart of Account Instances?
- a)The Chart of account instance helps in duplicating a segment.
- Types of Conversion Rates in GL?
- Corporate b. Spot. c. User
- If a user chooses to post out-of-balance/unbalanced journal entries, what setup is supported?
- a)Suspense Account
- Parent and Child values can be defined through which setup?
- Account Hierarchies
- How can we exclude a segment value or multiple value?
- a)Segment Value Security
- How to define unique transaction number in Fusion General Ledger?
- Document sequence
- How you manage Journal Approvals ?
- a)BPM (Business Process Management)
- Tool to upload exchange Rates, Journals ?
- ADFDI (Application Development Framework Desktop Integration)
- Important Oracle Fusion General Ledger Tables
- a)GL_LEDGERS
- b)GL_JE_HEADERS
- c)GL_JE_LINES
- d)GL_CODE_COMBINATIONS
- e)GL_JE_BATCHES
- f)GL_IMPORT_REFERENCES
- g)GL_PERIODS
- h)GL_CURRENCIES
- i)GL_DAILY_RATES
- Mention the Implementation user’s required for doing setups?
- a)Application Implementation Consultant
- b)Functional Setup user
- Easy way to track GL Transactions generated from Sub-Ledgers?
- a)Sources
- Easy way to track GL transactions based on activities?
- a)Category
- Mechanism to Translate Journal Balances (functional) to other currency ?
- a)Secondary Ledger
- b)Reporting currencies
- Which process is used to adjust account balances denominated in a foreign currency?
- a)Revaluation
- Which process you can use for a specific Reporting Currency, you select the target Reporting Currency and perform the activity.
- a)Translation Process
- The transactions can only be entered but can’t be posted to which Period status?
- a)Future Enterable
- The GL period once closed, can never be opened? which status it’s in?
- Permanently Closed status.
- Which setup enables transactions to enter as monetary / static journals?
- a)Enable stat journals
- Difference of exchange rate transactions can be posted to which enabled accounts in setups?
- a)Realized Gain / Loss Accounts
- Multiple Ledger’s can be handled through Single Role by which setup?
- a)Data Ledger Sets
- What is a mechanism that lets us create new fields in screens that are delivered by Oracle.
- a)DFF (Descriptive Flexfields)
- An interface used to bring journal entries from legacy systems and other modules into the General Ledger?
- a)Journal Import
- Different types of Flags which represent Journals?
A-Actual
B-Budget
E- Encumbrance.
- A process of Reservation of funds for anticipated expenditure from a budget. Encumbrance integrates GL, Purchasing and Payables modules.
- a)Encumbrance
- Types of Budgets?
- a)Expenditure Revenue Budgets
- A period-end process of combining the financial results of separate business subsidiaries with the parent company to form a single combined statement of financial results.
- a)Consolidation Process
- Mechanism to modify/change the posted journals?
- a)Journals Reversal
- Maximum Number of periods that can be kept open in GL?
- a)No Limit.
- Outstanding Subledger Transactions can be identified through which report?
- a)Subledger Period Close Exception report.
- Option to move balances from Primary to Secondary Ledger?
- a)Transfer Balances to Secondary Ledger
Oracle Fusion financials online training delivered by Tech Leads IT to many students with the passion to mould students to Oracle fusion carrier side, if they are fresher or experienced, they can easily change their profile to the Oracle fusion platform and we help them to upskill their knowledge and packages.
