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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. Your new accountants have been making mistakes in reconciling accounts assigned to them. Yourbalances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation.
What feature can you use to be proactively notified of account anomalies in a more timelymanner?

A) Smart View
B) Financial Reports with Embedded charts
C) Account Monitor
D) Account Inspector and its charts

2. Your customer has only licensed Fusion Financials and wants to use approval workflows.
Using which page to enter users and assign roles does Oracle consider best practice?

A) Oracle Identity Management (OIM)
B) Financials not a stand-alone product
C) Manage Users
D) Policy Manager (APM)
E) Hire a New Ernployee

3. 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 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.
B) 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.
C) Use Oracle Hyperion Financial Management for this type of complex consolidation.
D) 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.

4. You need to define multiple allocation rules as efficiently as possible.
Which three components can be reused across allocation rules?

A) Point of View (POV)
B) RuleSets
C) Formulas
D) Run Time Prompts (RTP)

5. What are the two benefits of having the Essbase cube embedded in Fusion General Ledger?

A) Posting performance is much faster.
B) You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.
C) General ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
D) Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules.
E) You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts.

Solutions: