Oracle 1z1-408 : Oracle Fusion Financials: General Ledger 2014 Essentials

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Oracle 1z1-408 Exam Syllabus Topics:

Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

Question #1
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

A. Accounting attributes
B. Mapping Sets
C. Event Entities
D. Event Classes
E. Transaction Objects

Question #2
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and product segments for both financial and management reporting.
What is Oracle's suggested best practice for doing this?

A. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product Segment.
B. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions.
C. Create three segments and qualify them as the primary balancing segment, second, and third balancing segments, respectively.
D. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting.

Question #3
Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.
Which two recommendations would you give your customer?

A. Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.
B. Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.
C. When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
D. Additional intercompany rules will need to be defined for the two additional balancing segments.

Question #4
You want to automatically post journal batches imported from subledger source to prevent accidental edits of deletions of the subledger sources journals, which could cause an out -ofbalance situation between your sub ledgers and general ledger.
Which two aspects should you consider when defining your AutoPost Criteria?

A. Use the Alloption for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
B. Create your AutoPost criteria using minimal source and categories.
C. Schedule your AutoPost Criteria set to run during off-peak hours only
D. Include all of your sub ledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.

Question #5
You are reconciling your Payables the Receivables balances against the General Ledger. You are using the Payables to Ledger Reconciliation report. You notice discrepancies between thebalances in the subledgers, subledger accounting, and general ledger.
Which three factors are responsible for these out-of-balance situations?

A. Period Close processes,such as Revaluation, Translation, and Consolidation have not beenperformed yet
B. All sub ledger transactions have been entered but do not have complete accounting.
C. Intercompany transactions have not been fully processed.
D. There were manually entered journals against the Payables and Receivables accounts that were posted in General Ledger.
E. Subledger transactions have been accounted and transferred to General Ledger but have not been posted.

Solutions: