Oracle Oracle Certifications 1Z0-511 Questions & Answers

• Question 41:

  An organization wants to consolidate work based billing across multiple projects (produce one invoice for a single customer based on multiple contract projects). Which two methods will help them accomplish this?

  A. Create draft Invoices against individual projects, and consolidate them in Receivables.

  B. Create a program. All costs will roll up to the program level and the program can be billed.

  C. Run theinvoice consolidation concurrent request to produce a singleinvoice.

  D. Carry out billing against top tasks across any projects with the same ServiceType.

  E. Use inter-project billing so that individual contract projects invoice a single project which, in turn, bills the customer.

  Correct Answer: AC

  C:Consolidated Invoicing allows you to consolidate multiple project invoices into one single invoice.

• Question 42:

  A client requires a project definition that allows for charging expenditures to the project at a higher Work Breakdown Structure level than where the manually entered percentage complete progress is captured. Which three Shared Structure relationships will support this requirement?

  A. Shared

  B. Partially shared

  C. Mapped

  D. Not shared

  E. Vertical

  Correct Answer: ABD

  Structure Integration Setup

  If you enable both a workplan structure and a financial structure for your project or project template, you can decide whether or not they are integrated, and if so, to what degree. You do this by choosing one of the following options on the

  Structures setup page:

  *Shared Structures: Enables you to generate a financial structure with a task hierarchy that is fully shared by the workplan structure task hierarchy. Workplan and financial structures are fully shared by default.

  *Partially Shared Structures: Enables you to generate a financial structure that is partially shared by the workplan structure hierarchy.

  *Non-Shared: Task-Based Mapping: Enables you to map individual workplan structure tasks to individual financial structure tasks.

  *Non-Shared: No Mapping: Choose this if you do not want to integrate your project workplan and financial structures in any way.

• Question 43:

  A project has two customer billing elements. One part of the project is based on a fixed fee and the other part is a variable based on a cost plus basis. The customer requires separate invoices for fixed fee elements and variable works elements. How can agreements be used to provide separate invoices?

  A. Createeach element as a top task and implement top task billing for the project.

  B. Create each element as a top task on the project and create an agreement for variable works and onefor fixed fee.Then fund the project at the top task level.

  C. Have one agreement and create an invoice grouping rule in Accounts Receivable.

  D. Create oneagreement and fund the project.

  E. Use billing events and create separate events per purchase order.

  Correct Answer: B

  One Customer, Multiple Agreements

  Use multiple agreements when you have one customer, but a requirement to create a separate invoice for each top task.

  You can use this method to accrue revenue cost-to-cost or impose hard or soft revenue limits by task, as well as automatically create separate invoices by task.

  To create separate invoices by task, you must use a different agreement to fund each task. If you use more than one agreement for a single task, the agreements are used according to the precedence described earlier for projects.

• Question 44:

  A company generates revenue at period end, but bills monthly in arrears. The first project revenue is due to be recognized at the end of May and the first invoice sent to the customer in June. What are the accounting entries at the end of May?

  A. Debit: Cost of Goods SoldCredit: Unbilled Receivables

  B. Debit: BankCredit: Revenue

  C. Debit: Unearned RevenueCredit: Revenue

  D. Debit: RevenueCredit: Accounts PayableLiability Account

  E. Debit:UnbilledReceivablesCredit: Revenue

  Correct Answer: E

  Revenue

  Once revenue is created, Oracle Projects runs AutoAccounting to determine the appropriate default accounts. AutoAccounting selects all of the AutoAccounting parameters for each item or event, determines the account coding, validates the account coding against the general ledger, and updates each revenue distribution line with the appropriate default account.

  AccountDebitCredit Unbilled Receivables and/or Unearned Revenue200.00 Revenue200.00

• Question 45:

  A customer is billed using deliverable billing events, which are currently approved by the customer and the finance director before invoicing. There are often invoices awaiting the finance director's approval and release. The Finance director

  would like to use functionality that allows all invoices to be approved and released automatically.

  How can this be achieved?

  A. Use deliverable managementto automatically approve the invoice.

  B. Implement the cost-to-cost billing extension.

  C. Implement the costaccrual and project status inquiry extension.

  D. Implement theinvoice approval/release extension.

  E. Set the "Interface unreleased revenue to GL" profile option to "Yes."

  Correct Answer: D

  The Automatic Invoice Approve/Release Extension allows you to release invoices automatically as part of the Generate Draft Invoice process.

  Incorrect:

  Not E:

  Generating Revenue Accounting Events

  After you generate and release the revenue, you run the concurrent program PRC: Generate Revenue Accounting Events. The concurrent program determines default unearned revenue and unbilled receivables accounts using

  AutoAccounting and generates accounting events for Oracle Subledger Accounting. Note: If you set the profile option PA: Interface Unreleased Revenue to GL to yes, then Oracle Projects automatically releases any unreleased revenue when

  you run the concurrent program PRC: Generate Revenue Accounting Events.

• Question 46:

  You define assets for your project and assign them at the project or task level. What should be the value of "Project Asset Type" to generate asset lines?

  A. Estimated

  B. As Built

  C. Generate

  D. Built

  E. Regenerate

  Correct Answer: B

  Note:

  *Project Asset Type

  This field identifies whether an asset represents an Estimated or complete, As-Built capital asset, or a Retirement Adjustment asset.

  *We have a Capital Projects, Every month end we want generate asset lines and send to FA as CIP asset lines againest the project asset.Once project is completed then all the Asset lines will capitalize in FA .

  When we want to generate asset lines, we have to give the Date in Service and Project asset Type as "Built". after generating the asset line we cant change the Date in service in oracle projects

  If we have given the Project Asset type as " Estimated" then i cant generate asset lines.

  *Project Asset Type

  When you copy an asset, Oracle Projects copies the asset with the same project asset type. For estimated assets, you can optionally copy the asset as an as-built asset.

• Question 47:

  An employee has entered eight hours of billable time on a project. You want only three hours to be billable and five hours to be nonbillable. What is the adjustment action that should be applied on this expenditure item?

  A. Transferthe item.

  B. Change the billable status.

  C. Split the item.

  D. Apply billing hold.

  E. Change quantity.

  Correct Answer: C

  You can split an item into two items so that you can process the two resulting split items differently. For example, you may have an item for 10 hours, of which you want 6 hours to be billable and 4 hours to be non-billable. You would split the item of 10 hours into two items of 6 hours and 4 hours, marking the 6 hours to be billable and 4 hours to be non-billable.

  The resulting split items are charged to the same project and task as the original item.

• Question 48:

  A one-time additional public holiday has been announced for this year. You update the PA Calendar, which is used for Resourcing with this exception. Select the two options required to ensure that this change is reflected in the existing assignment on resource calendars.

  A. Run"PRC: Generate CalendarSchedules."

  B. Run "PRC: Rebuild Resource Timeline."

  C. Inform Resource Managers that they will have to redo all the existing planning.

  D. Run "PRC: AutomatedCandidate Search."

  E. Run "PRC:Refresh project summary amounts."

  Correct Answer: AB

  Changes to these calendars impact the schedules of the person resources, requirements, and assignments differently. Oracle Project Resource Management provides the following administrative processes to help manage these changes and to maintain consistent schedule information throughout the application: PRC: Generate Calendar Schedule for a Single Calendar

  PRC: Generate Calendar Schedules for a Range of Calendars PRC: Rebuild Timeline for a Single Resource

  PRC: Rebuild Timeline for a Range of Resources

• Question 49:

  A customer wants to make a new classification mandatory on all their new projects. Select the three options that could help them accomplish this.

  A. Define the classification as Mandatory in theClassification configuration.

  B. Define the classification as Mandatory in the Project Type configuration.

  C. Define the classification category to allow one code only.

  D. Define project status controls to disallow project status changes where classificationcategory codesare missing.

  E. Define theclassificationas Required on the appropriate project templates in the QuickEntry screen.

  Correct Answer: A

  Note:

  *You define project classifications to group your projects according to categories you define. A project classification includes a class category and a class code. The category is a broad subject within which you can classify projects. The code

  is a specific value of the category.

  *(see step 3 below)Defining class categories and class codes

  To define class categories and class codes:

  1.Navigate to the Class Categories and Codes window.

  2.Enter a unique Class Category name and a Description. 3.Specify whether the class category is mandatory for every project you define. Enable if all projects must have a code assigned to this class category. Do not enable if this class

  category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.

  4.Specify whether you want to use the class category in your AutoAccounting rules. Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already

  exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one. 5.Specify whether you want to allow entry of only one class code with this class category for a project. Note:

  Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once. 6.Enter the Name, Description, and Effective Dates for

  each class code.

  7.Save your work.

• Question 50:

  You have defined a Non-Labor resource "Mini Truck" with an expenditure type "Vehicle" that has a rate of $100. This resource is attached to three Non-Labor resource organizations: "Construction-East," "Construction-West," and "Construction-Central."

  How do you set up a rate of $150 for usage charges when the "Mini Truck" owned by "Construction- Central" is charged to a project?

  A. In the Project setup, enter a rate of $150 for"Construction-Central"in the organization overrides.

  B. In the Non-Labor resources setup, select the"Construction-Central"organization and enter a rate of $150.

  C. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to the project.

  D. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to"Construction- Central."

  E. Write custom code in Non-Labor cost override extension.

  Correct Answer: D