Which three objectives must be considered when designing the chart of accounts?
A. Effectively manage an organization's financial business.
B. Consider implementing a single, global chart of accounts
C. Anticipate growth and maintenance needs as organizational changes occur.
D. Limit the number of segments to those you need today to reduce data entry.
E. Try to use all 30 segments and 25 characters per segment because you cannot change It later.
Your new accountants have been making mistakes in reconciling accounts assigned to them.
Yourbalances have either spiked or dropped 30-40% every period due to human error. This causes delays
in reconciliation.
What feature can you use to be proactively notified of account anomalies in a more timelymanner?
A. Smart View
B. Financial Reports with Embedded charts
C. Account Monitor
D. Account Inspector and its charts
Which statement is true when creating an Implementation Project for Fusion Financials?
A. Selecting the Offering "Financials," automatically allows you to perform the setup for all Fusion Financial products.
B. You must select the Offering "Financials," and each individual product or option to perform the setup for each product in Fusion Financials.
C. You only need to make the project name unique, then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management and Supply Chain
D. Plan your implementation project carefully because you cannot delete it or make changes later. E) The Implementation Project is preconfigured and cannot be deleted or changed.
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results.
What does Oracle consider best practice when this occurs?
A. Translate only the adjusting journal entry.
B. Rerun Revaluation and then rerun Translation
C. Rerun Translation and then reconsolidate your result
D. Enter another adjusting journal entry in the currency to true up the balances.
Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority.
What should be implemented for this type of security?
A. Data Access Sets
B. Cross-Validation Rules
C. Segment Value Security
D. Role-Based Access
You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?
A. Close all subledger periods.
B. Close Intercompany periods in Fusion Intercompany.
C. Freeze the Intercompany Journal source in General Ledger.
D. Close the General Ledger period in the Manage Accounting Periods page.
You want to enter budget data in Fusion General Ledger. Which method is not supported?
A. Smart View
B. Application Development Framework Desktop Integration (ADFdi)
C. File-based Data Import
D. Entering budget Journals
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledge does not include a purpose-built Consolidation feature.
How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
A. Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period.
B. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.
C. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management.
D. Create a manual journal that includes the eliminating entries, and then create a copy of the Journal batch every period.
Your foreign currency transactions need to be revalued every month. For balance sheet accounts, you reverse the revaluation journals in the next period. You are using the period-to-date (PTD) method of revaluation tor your income statement accounts.
When should you reverse revaluation journals, if at all required?
A. Reverse them in the same period as the revaluation run.
B. Both balance sheet and income statement revaluation journals should be reversed in the period.
C. Never, because each period's revaluation adjustment is just for that period.
D. The reversals must be done at the end of each quarter.
Which two statements are true regarding how Intercompany Balancing Rule, are defied?
A. All ledgers engaged in an intercompany transaction must share the same chart: of accounts in order to define balancing rules
B. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
C. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
D. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value.
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