1Z0-508 Online Practice Questions and Answers

Correct Answer: A

Currency lookups are required because your business may have transactions involving multiple currencies. To create a meaningful report, you have to use a common currency.

The Oracle Business Analytics Warehouse provides a means for converting a variety of currencies, as well as prepackaging the following three currency types for each amount stored in the Oracle Business Analytics Warehouse:

*Document currency. The currency of the transaction. For example, if you purchase a chair from a supplier in Mexico, the document currency is probably the Mexican peso.

*Local currency. The currency in which the financial books, including the transaction, are closed.

For example, if your business organization is located in France and orders a part from a supplier in Britain, it may pay in British pounds, but it closes its books in French francs. In this case the local currency for the transaction is French francs

and the document currency for the transaction is

British pounds. The local currency is useful when each business unit of the enterprise creates its own internal reports. For example, your Japanese site may produce internal reports using Japanese yen, while your United States site may

produce internal reports using United States dollars.

*Global currencies. Out of the box, Oracle BI Applications provides three global currencies, which are the standard currencies used by your entire enterprise. For example, if a multinational enterprise has its headquarters in the United States,

its group currency is probably U.S. dollars.

The global currency is useful when creating enterprise-wide reports. For example, a user might want to view enterprise-wide data in other currencies

Reference: Oracle Business Intelligence Applications Installation and Configuration Guide >Configuring Common Components of the Oracle Business Analytics Warehouse > About Document, Local, and Global Currencies

Correct Answer: A

Assignment at Header Level

Header assignments define subledger journal header information and line assignments define journal line accounting treatment.

A header assignment includes the following:

Accounting date (required)

Accrual reversal accounting date (optional)

Description rule (optional)

Supporting references (optional)

Assignment at Line Level

Reference: Oracle Fusion Applications Financials Implementation Guide, Define Subledger Accounting Rules

Correct Answer: B

Note:

*intercompany reconciliation provides you with reports to assist you with reconciling your intercompany receivables and intercompany payables accounts, and to identify any differences.

*

Oracle Fusion Financials expedites the reconciliation process with interactive reconciliation reports that compare open receivables and open payables balances to the corresponding balances in Fusion General Ledger. If differences exist, it performs the labor-intensive process of matching each transaction to its respective accounting entry and automatically finds all transactions and accounting entries that contribute to the out-of-balance situation.

*

The Accrual Reconciliation Report is used to analyse un-invoiced receipts and to reconcile the balance of the Accounts Payable accrual accounts.

This report enables you to identify the following problems in receiving, purchasing, inventory, work in process, or accounts payable transactions:

Reference: Oracle Fusion Applications Financial Control and Reporting, Accounting Transactions, Tax Transactions, and Reporting Guide, Intercompany, Reconciliation: Explained

Correct Answer: AB

Mapping sets enable you to assign a specific output value to an Accounting Flexfield or Accounting Flexfield segment. You use mapping sets when you set up account derivation rules. Account derivation rules determine the Accounting Flexfield values for subledger journal entries.

Oracle Projects does not provide any predefined mapping sets. You can optionally define your own mapping sets. When you enter input values for mapping sets, you can select from a list of values based on either an existing lookup set or value set. You also specify the Accounting Flexfield segment and select segment values from a list of values.

For example, you can select a lookup type of service type for the input and the Accounting Flexfield segment program as the output. You then select the service type and program segment values from lists of values as you define each pair

Reference: Oracle Projects Implementation Guide, Mapping Sets

Correct Answer: C

The Manage Intercompany Organizations task allows you to define the legal entities that are classified as intercompany organizations.

Note:

*

Advanced Global Intercompany System (AGIS) enables you to create, settle and reconcile intercompany transactions. Intercompany transactions are transactions that occur between two related legal entities in an enterprise or between

groups in the same legal entity. Transactions that occur between two legal entities are called intercompany transactions and transactions that occur between two groups within one legal entity are called intracompany transactions.

*

Optionally, assign an intercompany segment. You can use the intercompany segment to identify the legal entities involved in intercompany transactions.

Assign the Secondary Tracking Segment qualifier to one of the segments in your chart of accounts. You cannot use the primary balancing, intercompany, or natural account as the secondary segment.

Reference: Oracle Fusion Applications Financials Implementation Guide , Managing Intercompany Organizations: Points to Consider

Correct Answer: E

My Account -- Displays the "My Account dialog", where you can specify your preferences, such as time zone, delivery devices, and delivery profile.

Reference: Oracle Fusion Middleware User's Guide for Oracle Business Intelligence Enterprise Edition (Oracle Fusion Applications Edition), What Is the Oracle BI EE Global Header?

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.

Correct Answer: BD

B: Cubes are created as part of ledger setup.

D:A database connection is needed for each cube.

Reference: Oracle Fusion Applications Post-Installation Guide, Configuring Workspace Database Connection

Correct Answer: E

Oracle Business Intelligence Mobile, part of Oracle Business Intelligence

Foundation Suite, provides the ability to deliver analyses, dashboards, alerts, and other BI content directly to mobile devices, enabling users to view and then take action on BI insights wherever they are.

Intelligence Mobile gives you the full spectrum of BI functionality on hoc query, OLAP analysis, dashboards and scorecards. You even have the ability to turn insight into action directly from your mobile reports and dashboards.

Reference: Oracle Business Intelligence Mobile, Data Sheet

Correct Answer: C

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