Oracle Oracle Certifications 1Z0-508 Questions & Answers

• Question 31:

  Identify the step that is NOT correct about implementing Fusion Accounting Hub to integrate with an external system.

  A. Analyze external system transactions.

  B. Capture accounting events.

  C. Determine the accounting impact of transactions.

  D. Enable external system to create Journal entries.

  Correct Answer: D

  The Oracle Fusion Accounting Hub allows you to use Subledger Accounting to perform accounting transformations on external, non-Oracle system data. Subledger Accounting is also used to flexibly create accounting for Oracle subledgers such as Oracle Payables and Receivables. Subledger Accounting includes:

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  Registration of your external systems, indicating what types of transactions or activities require accounting from those systems.

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  Create a library of transaction and reference information that will be used for defining accounting treatments.

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  Configurable accounting rules to define accounting treatments for transactions.

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  Accounting engine that combines transaction and reference information from source systems with accounting rules to create detailed journals stored in an accounting repository.

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  Detailed subledger accounting journal entry repository to audit and reconcile accounting balances.

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  Reports and user interface inquiries for analyzing accounting transformations.

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  Configurable analytical balances based upon source system or reference attributes.

  Note:

  The Oracle Fusion Accounting Hub process can begin by using financial data from any or all of the following:

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  Non-Oracle external applications including transaction and reference information from industry, specific applications

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  Oracle Fusion subledgers including subledger journals

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  Oracle E-Business Suite, Oracle PeopleSoft, and Oracle JD Edwards General Ledgers including account balances

  The Accounting Hub process ends with complete reporting and analysis solutions.

  Note 2:

  The Accounting Hub contains for example the following component:

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  Oracle Fusion Subledger Accounting to perform accounting transformations on external system data

  Reference: Oracle Fusion Accounting Hub Implementation Guide, Oracle Fusion Subledger Accounting for External Systems

• Question 32:

  Choose the two options that need to be enabled for Journal Approval.

  A. Journal Source

  B. Account

  C. Ledger level

  D. Batch level

  Correct Answer: AC

  The ledger is included in the rules because you typically define approval rules per ledger. Set the options that enable journal approval at the ledger level and by journal source. This allows the approval process to determine which journals to send for approval.

  Reference: Oracle Fusion Accounting Hub Implementation Guide. Approving Journals: Points to Consider

• Question 33:

  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

  Correct Answer: C

  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

• Question 34:

  Identify two INVALID features of POV in Financial Reporting Studio.

  A. Multiple grids cannot be Included in a report.

  B. To identify that a dimension is set for grid POV, text row foot note should be added for a gridPOV for a dimension.

  C. A memberselection function with CurrentPOV as the member parameter changes to a User POV when members are selected from a row, column or page axis on a grid.

  D. POV book is specific to any report or grid object in report in that book.

  E. All POVs allow a single member to be set for a dimension.

  Correct Answer: BD

  D: A book POV allows anyone running the book to use the same default values for all grids in all reports in the book simultaneously each time the book is run. It is specific to a database connection for a book, but not specific to any report or grid object in a report in that book. As the book POV values are saved with the book itself, changes to the book POV do not affect the book designer's user POV.

  Reference:H Y P E R I O NF I N A N C I A L R E P O R T I N G S T U D I O, User's Guide, Frequently Asked

• Question 35:

  A Client has a sales region the East coast and one on the West coast. The East coast sales region wants data analyzed for only their region. Which tool should be used?

  A. Web ADI

  B. SmartView

  C. SmartSlice

  D. SmartCube

  Correct Answer: C

  A Smart Slice is a perspective of a data source containing a set of dimension members that can be reused.

  As analytic and financial databases grow in size (in respect to both dimensionality and scope of data), it is important to provide users with a better set of tools to focus in on the data and type of analysis they need. In the 11.1.1.0.0 release

  Smart View provides the ability for admin users to model supported data sources through the Smart Slice modeling interface. This lets admin users determine the specific dimensionality and preferences to make available to end users who

  desire access to a specific data perspective when working with a data source.

• Question 36:

  In Oracle Fusion, you can define more complex structure and multiple rules between pairs of .

  A. Ledgers only

  B. Legal Entities only

  C. Ledger, Legal Entities, or Primary Segments

  D. Primary Segments only

  Correct Answer: B

• Question 37:

  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.

  Correct Answer: C

  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.

• Question 38:

  To update the intercompany calendar to use a different general ledger accounting calendar, the intercompany period status for all intercompany transaction types must be .

  A. Open

  B. Closed

  C. Either Open or Closed

  D. Never Opened or Closed

  Correct Answer: D

  In order to update the intercompany calendar to use a different general ledger

  accounting calendar, the intercompany period status for all intercompany transaction types must either be Never Opened or Closed.

  Reference: Oracle Fusion Applications Financials Implementation Guide, Intercompany Calendar and Period Type

• Question 39:

  Identify the two valid EPM Workspace features that designers incorporate into Books to enable viewers perform tasks.

  A. Prompt

  B. User POV

  C. XML, HTML and PDF

  D. Related Content

  E. Email inks

  Correct Answer: AB

  A: Some reports are designed with prompts, which are displayed when you view the reports or books containing the reports. You respond to prompts and provide requested information by selecting members from prompt lists. You can edit

  prompts manually. If prompts contain alias names, you convert them to member names.

  B: Dimensions often contain members that you may never access. Setting up the user POV enables you to create a choices list for any dimension in a specified data source, where only the members in the choices list are displayed when the

  dimension is accessed from the user POV.

  When a report is added to a book, the dimensions that are on the user POV in the report definitions are applied to the book POV. Members on the book POV default to the user POV in the Book Editor.

  Note: Books are created, edited, and savedin EPM Workspace.

  Reference: Oracle Hyperion Financial Reporting, User's Guide,Setting Up the User POV for Financial Reporting Documents

• Question 40:

  Where can a multidimensional analysis of accounting balances be performed online?

  A. Forecast and Actual versus Quota

  B. Revenue Influenced by Program

  C. Account Monitor and Account Inspector

  D. Requisition Overview

  E. Project Analytics

  Correct Answer: C

  Use Account Monitor and Account Inspector to perform online multidimensional analysis of accounting balances. Reference: Oracle Fusion Accounting Hub Implementation Guide, Financial Reporting Center