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Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

A) View information for runtime performance.
B) Verify correctness of trees.
C) Create additional versions of a tree.
D) Optimize parent/child relationships.
E) Set the status of a tree to active.

2. Task3
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

3. You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud.
The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.
The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.
Which conversion level would you recommend to keep a thin secondary ledger?

A) Journal ledger
B) Adjustment only
C) Sub-ledger level.
D) Balance level

4. Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

A) The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
B) The report displays all clearing company balancing lines for a period.
C) The report displays the intercompany receivables and intercompany payables balances in summary for a period.
D) You can only drill down to the general ledger journal and then from there to the subledger journal entry.
E) 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.

5. Which two statements are true about balances cubes in General Ledger?

A) They are updated automatically when the Revaluation process is run.
B) New dimensions can be added to a General Ledger balances cube.
C) They are updated automatically when the General Ledger period is opened.
D) A new balances cube is created for a unique combination of ledger and currency.
E) They are updated automatically when the Translation process is run.

Solutions: