Oracle Financials Cloud: General Ledger 2024 Implementation Professional

QUESTION NO: 1
Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.

Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.

Correct Answer:

See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
* In the Setup and Maintenance work area, go to the following:
* Offering: Financials
* Functional Area: Financial Reporting Structures
* Task: Manage Shorthand Aliases
* Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
* Click on the Add Row icon to create a new alias. Enter the following information:
* Alias Name: RevDom
* Account Template: 101-2000-400000-000-000-000
* Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center
* Enabled: Yes
* Start Date: Today's date
* End Date: Blank
* Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
* Account Aliases
* Enter a GL Account Alias
* Short Hand Alias in Fusion Financials Key Flexfield
* How to Enable Account Shorthand Aliases

QUESTION NO: 2
You need to add new transactional attributes to the journal approval notification in an implementation project.
Which two Business Intelligence catalog objects should you copy (or customize) and edit?

A. Sub template B. Style template C. Layout template D. Data model E. Output type

Correct Answer: C,D

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 3
You are planning to create an Income Statement using Smart View.
Which Smart View tool should you use for this?

A. Smart Queries B. Ad Hoc Analysis C. Query Designer D. Smart Slices

Correct Answer: B

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 4
You are using the Create Budgets in a Spreadsheet option to load your budget balances into the General Ledger balances cube. Your FYXX Budget is not appearing in the Budget Name list of values.
What are two reasons for this?

A. Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run. B. Budgeting is not enabled in the Ledger options. C. Transfer Budget Balances to Budget Cubes has not been run. D. A value for the budget scenario is not created. E. The Create Scenario Dimension Members program has not been run.

Correct Answer: D,E

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 5
Your company hascomplex consolidation requirementswithmultiple general ledger instances. You are usingOracle Hyperion Financial Managementto consolidate the disparateGeneral Ledgers.
You can typically map segments between yourgeneral ledger segmentto aHyperion Financial Management segment, such as:
* Company to Entity
* Department to Department
* Account to Account
What happens to segments in yoursource general ledger, such asProgram, thatcannot be mappedto Hyperion Financial Management?

A. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management. B. Data is summarized across segments that are not mapped to Hyperion Financial Management. C. The unmapped segments default tofuture use segmentsin Hyperion Financial Management. D. The data is not transferred.

Correct Answer: B

QUESTION NO: 6
Your customer has alarge number of legal entities. Thelegal entity valuesare defined in thecompany segment and the primary balancing segment.
They want to easily createeliminating entriesfor theintercompany activity.
What should you recommend?

A. Define an intercompany segment in the chart of accounts. The Intercompany module and theIntercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading. B. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment. C. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define. D. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

Correct Answer: A

QUESTION NO: 7
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

A. You can only drill down to the general ledger journal and then from there to the subledger journal entry. B. The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison. C. The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not. D. The report displays the intercompany receivables and intercompany payables balances in summary for a period. E. The report displays all clearing company balancing lines for a period.

Correct Answer: B,C

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 8
Your company has complex consolidation requirements with multiple General Ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your General Ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account What happens to segments in your source General Ledger, such as Program, that cannot be mapped to Hyperion Financial Management?

A. The unmapped segments default to future use segments in Hyperion Financial Management. B. Data is summarized across segments that are not mapped to Hyperion Financial Management. C. No data is transferred. D. Errors occur for unmapped segments. You must map multiple segments from source General Ledgers to the target segment in Hyperion Financial Management.

Correct Answer: B

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 9
Which two statements are true if a journal description rule is defined with sources?

A. The description rule may be assigned to either the header or line level, or to both. B. The description rule can only be assigned to the header or line level. C. You cannot assign journal description rules to sources. D. The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set. E. The description rule can only be assigned to the journal line level.

Correct Answer: A,D

Oracle Financials Cloud: General Ledger 2024 Implementation Professional - 1z0-1054-24 Exam Questions