Oracle Oracle Certifications 1Z0-508 Questions & Answers

• Question 41:

  Identify three characters that can NOT be used with the FRExecute command.

  A. and

  B. (

  C. =

  D. >

  E. ;

  Correct Answer: ADE

  The FRExecute function syntax:

  FRExecute(ReportName[Type={1,2};ComponentType={1,2};ComponentName={Grid1,Grid2,Chart

  1,Chart2,Chart3};Page={1,2,..;.}Cell=FRFormula}

  where:

  ReportName is the name of the report.

  Type1 is a dynamic report and Type2 is a Snapshot report.

  ComponentType1 (optional) is a grid and ComponentType2 (optional) is a chart.

  ComponenentName (optional) is the grid or chart name.

  Page (optional) is the page number.

  Cell (optional) is the date cell formula. The cell syntax is cell=cell[row,col], or cell=[row,col]

  Note: The FRExecute function enables you to embed a Financial Reporting report or report section into a Microsoft Word document. You can include a report, a report type (dynamic orsnapshot), or specify selected areas in the report such as

  a grid, chart, page, text box, text area, or cell.

  Reference: FRExecute Syntax

• Question 42:

  During the analysis phase of the implementation, it was discovered that there were some expense entries that are paid in the current month for services rendered in the next month, the client wants to defer the expense and recognize it in the next month. What would you recommend?

  A. Create two accounting events: one for payment and one for recognition.

  B. Use Account Derivation rules to create two different entries.

  C. Use multiperiod accounting-enabled Journal Line Types.

  D. Use Journal Line Definitions.

  Correct Answer: C

  multiperiod accounting

  (Oracle Subledger Accounting) Recognition of revenue or a prepaid expense or revenue across multiple GL periods. Deferred revenue and expense recognition are examples of multiperiod accounting.

  Multiperiod accounting is a flexible, powerful tool which allows users to systematically record accounting entries across multiple periods

  Note:

  * account derivation rule

  (Oracle Subledger Accounting) A component of the Accounting Methods Builder (AMB) that determines the Accounting Flexfield for the subledger journal entries.

• Question 43:

  Identify the business intelligence component that enables you to explore and interact with information by visually presenting data in tables, graphs, and pivot tables.

  A. Oracle Business Intelligence- Enterprise Edition

  B. Analysis Editor

  C. BI Composer

  D. Oracle Transaction Business intelligence

  E. Oracle Business Intelligence Applications

  Correct Answer: BC

  B: The "Analysis editor" lets you explore and interact with information by visually presenting data in tables, graphs, pivot tables, and so on. You can include the views that you create in an analysis for display in dashboards.

  C: BI Composer is a simple-to-use wizard that allows you to quickly and easily create, edit, or view analyses without the complexities of the "Analysis editor".

  Note (see select views below): What Are the Steps for Creating or Editing an Analysis in BI Composer?

  The steps for creating or editing an analysis in BI Composer are as follows:

  Select Columns -- In this step you select the columns that are to be included in the analysis. You can also:

  Select Views -- In this step you select the views that are to be included in the analysis, such as a title, table, pivot table, bar graph, and so on. (Note that not all views available in Oracle BI Enterprise Edition are supported in BI Composer.)

  You can also preview the results.

  Etc.

  Reference: What Are the Steps for Creating or Editing an Analysis in BI Composer?

• Question 44:

  Journal approval in Oracle Fusion Applications uses Oracle Fusion Approvals Management (AMX) to build approvals. Which AMX builder method is most effective when the General Accountant enters the journals for approval?

  A. Human Resources (HK) Supervisory

  B. Job level

  C. Position

  D. Approval Group

  Correct Answer: A

  Human Resources (HK) Supervisory This method uses the HR Supervisory hierarchy levels and specifies the number of levels available for approval. This method is most effective when the General Accountant enters the journals. For example, if an accountant enters a journal, he needs approval from his manager. If his manager enters a journal he needs approval from his manager and so on up the hierarchy for the specified number of levels. Self approval can be set at any levels in the hierarchy.

  Note: Journal approval in Oracle Fusion applications uses Oracle Fusion Approvals Management (AMX) to merge the functionality of Oracle Approvals Management (AME) and PeopleSoft Approvals (AWE).

  Reference: Oracle Fusion Applications Financials Implementation Guide, AMX List Builder Considerations

• Question 45:

  A client is implementing Fusion Accounting Hub for their external receivable system. The external system sends invoices billed and cash receipts in a flat file along with the customer classification Information. The client wants the accounting amounts to be tracked by customer classification, but NOT necessarily in a Chart of Accounts segment. How can this be solved?

  A. Use supporting references to capture customer classification.

  B. Capture it as a source and develop custom report.

  C. Change the Chart of Accounts structure to include customer classification; there is no other option.

  D. Use the Third Party control account feature.

  E. Use Open account balances listing.

  Correct Answer: A

  You can store balances based on business dimensions outside your chart of accounts using supporting references. In other words, supporting references extend your chart of accounts without cluttering your general ledger with unnecessary detail. For example, you can store balances based on geographies, channel, industry, investment type, fund manager or product category without including these key business dimensions in the chart of accounts. These balances are stored in the accounting repository, readily available for reporting and analytics Reference: Oracle Fusion Accounting Hub, Oracle Data Sheet.

• Question 46:

  Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type. What is the solution?

  A. Create two journal line rules with a condition of supplier type.

  B. Create an Account Rule with 31 rule elements using one condition for each expense type; and another for supplier type.

  C. Create an Account Rule with two rule elements using one for expense type mapping and the other for condition of supplier type.

  D. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.

  Correct Answer: C

  Note: Account rules are used to determine the accounts for subledger journal entry lines. In addition, you can specify the conditions under which these rules apply. Using these capabilities, you can develop complex rules for defining accounts under different circumstances to meet your specific requirements. You can define account rules for an account, segment, or value set *Account Rules and Mapping Sets Mapping sets can be used to associate a specific output value for an account or segment. You can use mapping sets in account rules to build the account.

  * Account Rules Conditions In the account rules you may specify conditions for each rule detail line. Priorities determine the order in which account rule conditions are examined. When the condition is met, the rule associated with that priority is used. Depending on which of the defined conditions is met, a different account rule detail is employed to create the account.

  The Create Accounting process evaluates conditions based on the priority of the rule detail. When the condition is met, the rule detail is applied.

  Reference: Oracle Fusion Applications Cost Accounting and Receipt Accounting Implementation Guide, Account Rules: Explained

• Question 47:

  There is a performance issue with new account hierarchies. Which setting would you update to improve performance?

  A. Row set

  B. Column set

  C. ADF Business component View Objects

  D. Parent Child Relationship

  Correct Answer: C

  Oracle ADF view objects are business components that collect data from the datasource, shape that data for use by clients, and allow clients to change that data in the Oracle ADF Business Components cache Oracle ADF Business Components uses a sophisticated caching system to improve performance and maintain consistent views of data.

  Note: To maintain reliable data consistency, many operations lock an account at the beginning of the transaction. With an account hierarchy, this means that many of the associated accounts are also locked. While this provides reliable data consistency, it can cause a lot of serialization which decreases the throughput of the system.

  If, through the use of account hierarchies, this problem affects your system, you may choose to lock specific balance groups instead of the whole account.

• Question 48:

  How do you represent the Chart of Account Segments in SmartView technology?

  A. Members

  B. Dimensions

  C. User POV

  D. Grid POV

  Correct Answer: B

  The Oracle Fusion General Ledger provides a Financial Reporting Center with robust financial reporting and analysis using data from your balances cubes. The dimensions contained in your chart of account segments become the direct source of multidimensional analysis. Direct links are maintained to your transactional data permitting comprehensive drill down from journals to transaction details. Use the following tools for your reporting and analysis:

  *

  Financial Reporting to generate your reports

  *

  Smart View to generate spreadsheet reports Etc.

  Note: Smart View: Financial analysts view, import, manipulate, distribute, and share data from your Oracle Fusion General Ledger balances in Microsoft Excel. Reference: Oracle Fusion Accounting Hub Implementation Guide, Financial Reporting Center

• Question 49:

  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)

  Correct Answer: CD

  Oracle Hyperion Reporting and Analysis products and artifacts that you can import into Financial Reporting:

  Dynamic report (*.des)

  Snapshot reports (*.rpt)

  Books (*.kbk)

  Snapshot Books (*.kbt)

  Batch files (*.bch)

  Reference: Oracle Hyperion Financial Reporting, User's Guide, Importing

• Question 50:

  Which tab is used in the journals Work region of the General Accounting Dashboard to identify journals that produce an error during the Posting Process or that are rejected in the approval flow?

  A. Pending Approval Prom Others

  B. Incomplete

  C. Import Errors

  D. Requiring Attention

  Correct Answer: D

  How can I identify errors that occurred during my AutoPost process?

  Review the AutoPost process results on the AutoPost Execution report. This report is automatically created when the program completes successfully. The report contains the batch name, accounting period, and balance type for each posted

  journal batch, and lists error statuses for batches that failed to post. The unposted journals with their error status are also displayed on the Requiring Attention tab of the Journals work area and the General Accounting Dashboard.

  Note: How can I confirm that my journal entries were automatically posted?

  Review the AutoPost Execution report. This report is created when the AutoPost program completes and contains the batch name, accounting period, and balance type for each batch posted, as well as error codes for those batches that

  failed to post. The posting status of journal batches is also listed on the Journals work area and the General Accounting Dashboard.

  Reference: Fusion Applications Help, Post Journal Entries and Update Ledger Balances FAQs