Manage Chart of Accounts Structure and Instance
Scenario
Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5-segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in
the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts.
Task 1
Create a Chart of Accounts Structure and Instance for the following Chart of Accounts:
Note:
· Prefix all your setups with 07, where 07 is your candidate ID
· There is one balancing segment.
· Choose the appropriate segment labels.
. For the purpose of this test there is no need to deploy the flexfield.
. Valid code combinations should be added to the Code Combination table automatically.
· Shorthand aliases will not be implemented.
. Accept the defaults for the instance segments.
Task 3
Manage Chart of Accounts Mappings
Scenario
Your client needs to consolidate their UK Ledger to the Canadian parent ledger. Each Chart of Accounts
has the following segments:
Company-LoB-Account-Cost Center-Product-Intercompany
Know that the Company, LoB, Product, and Intercompany segments share the same value sets.
Create a Chart of Accounts mappings to map UK Chart of Accounts to CA Chart of Accounts that meets the following specifications:
Cost Center Mapping
. Balance Sheet (0 and 000) should be mapped to
Balance Sheet
. All other cost centers should be mapped to 610
Account Mapping
. Asset accounts (in the 1000 range) should be
mapped to account 11101
. Liability accounts (in the 2000 range) should be
mapped to account 22100
. Equity accounts (in the 3000 range) should be
mapped to account 34000
. Revenue accounts (in the 4000 range) should be
mapped to account 42000
. Expense accounts (from 5000 onwards) should be
mapped to account 51100
Note:
· Do not use conditions based on parents.
. Treat any account after the 5000 range as an expense.
· Ensure all maps are numeric only.
· When creating your mapping rules for each segment
please allow for existing and future segment values
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?
You have a requirement to override the Period End or Period Average rate that is used for translating several accounts at month end. How can you achieve this?
Your current Oracle Fusion Cloud implementation project includes the configuration of multiple ledgers per country and the setting up of accounting automation to drive journal processing efficiencies. In a particular country (which has a primary, secondary, and multiple reporting currency ledgers), there is a requirement to exclude the country ' s journal processing from accounting automation.
If you enter a ledger set (including all ledgers for that country) on the Exclusion tab of Manage Accounting Automation, what is removed from accounting automation processing?
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 mappedtoHyperion Financial Management?
You have set up asupporting reference with balancesto capturerevenue by account manager.
Which option should you use to view thesupporting reference balances?
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis? (Choose two.)
After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable “Limit a Journal to a Single Currency”? (Choose two.)
InFinancial Cloud, which three reporting tools can be used to accessGeneral Ledger balances?
