1Z0-508 Online Practice Questions and Answers

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: D

When you submit the Create Accounting process, the Create Accounting Execution Report is submitted automatically upon the completion of the Create Accounting process in success or in warning status. The Create Accounting process output will contain a message with the Create Accounting Execution Report request identifier. Use this request identifier to access the execution report output.

Reference:Oracle Fusion Accounting Hub Implementation Guide, Accessing the Create Accounting Execution Report: Explained

Correct Answer: B

The Link Journal Lines Option: Determines whether the journal line rule is set up to establish a link between the accounting of transactions that are related both within the same application, and across applications. The alternatives are described below:

*

None

No link is established.

*

Copy from corresponding line

Build account for a journal line using segments from the offsetting entry of the current journal line.

For example, when the business process requires that a cost center incurring an expense must also bear the invoice liability and cash outlay.

*

Business flow

ink logically related business transactions. For example, when recording the closing of a loan, you can link to the account that was used to book the loan origination. Journal line rules that are linked must also be assigned the same business

flow class.

Reference: Oracle Fusion Applications Financials Implementation Guide, Journal Line Rules

Correct Answer: ABC

Generating Allocations and Periodic Entries Manually

1.From the Navigator, click the Journals link to open the Journals work area.

2.

In the task pane of the Journals page, click the Generate Allocations link to open the Submission page.

3.

Optionally select one or all of the following options:

*

(A) Print Output

*

(B) E-mail me the output

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(C) Notify me when this process ends

4.

Select a rule or rule set from the list of values.

5.

Enter the submission parameters, including Ledger, Balancing Segment Value, and Period. The application automatically sets the last day of the submission period as the Accounting Date and Calculation Effective Date.

6.

Accept the selected check box for the Post Allocations option to enable the process to post the journal entries.

If you deselect the check box for the Post Allocations option, you must post the entry manually or define an AutoPost Criteria Set to automatically post the journal entries.

7.

Click Submit.

After the generation process is complete, the journal entries created by the process are available for inquiry on the Journals page.

Reference: Fusion Applications Help, Generating Allocations and Periodic Entries Manually

Correct Answer: CD

Oracle Hyperion Reporting and Analysis products and artifacts that you can import into Financial Reporting:

Dynamic report (*.des)

Snapshot reports (*.rpt)

Books (*.kbk)

Snapshot Books (*.kbt)

Batch files (*.bch)

Reference: Oracle Hyperion Financial Reporting, User's Guide, Importing

Correct Answer: AB

A: Some reports are designed with prompts, which are displayed when you view the reports or books containing the reports. You respond to prompts and provide requested information by selecting members from prompt lists. You can edit

prompts manually. If prompts contain alias names, you convert them to member names.

B: Dimensions often contain members that you may never access. Setting up the user POV enables you to create a choices list for any dimension in a specified data source, where only the members in the choices list are displayed when the

dimension is accessed from the user POV.

When a report is added to a book, the dimensions that are on the user POV in the report definitions are applied to the book POV. Members on the book POV default to the user POV in the Book Editor.

Note: Books are created, edited, and savedin EPM Workspace.

Reference: Oracle Hyperion Financial Reporting, User's Guide,Setting Up the User POV for Financial Reporting Documents

Correct Answer: D

Account Inspector allows financial analysts and accountants to quickly perform ad hoc ledger queries, multi-dimensional analysis, pivoting, and drill down--all within a web page. Because it works off the same multi-dimensional balances that stores pre-aggregated balances at all levels, slicing and dicing data is extremely fast. Any changes you make to your query criteria are instantaneously refreshed to ensure you are working with the most up-to-date information to make the most informed decisions.

Correct Answer: CDE

Boolean operators enable you to specify member combinations in your report. You use the AND, OR, UNION, and NOT Boolean operators, combined with member expressions, to refine your member selections. Example:(Children of East OR Children of West) AND Members where UDA=Major Market Reference: Selecting Members with Advanced Expressions

Correct Answer: C

The Withdraw Approval button on the Journals page is used at anytime in the approval process to withdraw journals from the process. Clicking this button allows you to edit to the journal. After your changes are made, submit the entry for approval again. When a journal is withdrawn, the completion status is set to Incomplete.

Reference: Oracle Fusion Applications Financials Implementation Guide, Approving Journals: Points to Consider

Correct Answer: AC