Try and practice the latest Oracle : 1z0-333 real questions & answers

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Frequently Asked Questions About Oracle Financials Cloud: General Ledger 2016 Implementation Essentials

Oracle Financials Cloud: General Ledger 2016 Implementation Essentials Sample Questions:

Question 1

You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies.
Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?

A. chart of account values, accounting calendar, and ledger
B. Banks, Bank Accounts, and Branches
C. complete Accounting Configuration
D. setup data for Receivables and Payables product.
E. Suppliers and Customers

Question 2

Before implementing Fusion Financials, your customer used to manually reconcile their intercompany payables and receivables accounts.
What is a more automated approach to do this?

A. In Fusion Financials, you must manually reconcile your intercompany account balances.
B. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.
C. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances.
D. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances.
E. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances.

Question 3

Journal approval uses Approvals Management Extension (AMX).
Which AMX builder method is most effective in routing the journals to the Accounting Manager when the General Ledger Accountant enters the journal?

A. Approval Group
B. Supervisory level based on HR Supervisors
C. Position
D. Job level

Question 4

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?

A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
B. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C. Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
D. 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 create a ledger set across all ledgers and report on the ledger set.

Question 5

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times.
Which journal attribute should you use to set the automatic posting criteria?

A. Journal Batch
B. Journal Source
C. Journal Category
D. Journal Description

Solutions: