Question 1

A new Oracle Fusion Cloud client needs to produce an income statement on a regular basis using Smart View. Which Smart View tool would be best for this?

Options :

A : Smart Slices

B : Smart Queries

C : Account Groups

D : Query Designer

Answer: D

Question 2

You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation. Where do you reference the statistical balance within the allocation component?

Options :

A : Source

B : Allocation Range

C : Target

D : Offset

E : Basis

Answer: A

Question 3

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle’s recommended approach to performing consolidations?

Options :

A : Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

B : Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

C : Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.

D : Use Oracle Hyperion Financial Management for this type of complex consolidation.

Answer: A

Question 4

A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS). Which two ledger types should be configured to fulfill this reporting requirement?

Options :

A : Reporting currency with the local accounting convention

B : Reporting currency with the IFRS accounting convention

C : Secondary ledger with the IFRS accounting convention

D : Primary ledger with the IFRS accounting convention

E : Primary ledger with the local accounting convention

Answer: C,E

Question 5

The general accountant is trying to update the cost center for the Default Suspense Account in the LedgerOptions to match the cost center for the Rounding Account.The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values forthe accountant to select in the Suspense Account.What is the reason for this?

Options :

A : The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page

B : The general accountant has a segment value security rule assigned which restricts access to that cost center

C : There is a primary balancing segment attached to the legal entity of the primary ledger

D : A cross validation rule is in place to prevent the resulting combination from being created

Answer: D