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

1z1-408 real exams

Exam Code: 1z1-408

Exam Name: Oracle Fusion Financials: General Ledger 2014 Essentials

Updated: Jan 16, 2025

Q & A: 76 Questions and Answers

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Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You want to define a tree or hierarchy for use in reports and allocations.
What three aspects should you remember when creating the tree?

A) It is fine to have the same child value roll up to two or more different parent values.
B) You need to flatten the rows to be able to use drilldown in Smart View and you must publishtree to view the hierarchy in Essbase cubes.
C) You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.
D) The tree should have at least two tree versions to reduce report and allocation maintenance.
E) You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).


2. After loading your budget data into Fusion Genera. Ledger, you can view budget balances using these feature.
Which feature does not belong on the list?

A) Smart View
B) Account Monitor
C) Application Development Framework Desktop Integration(ADFdi)
D) Account Inspector


3. Your company wants to change the Cumulative Translation Adjustment (CTA) account to record gains/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?

A) Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
B) Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
C) Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances.
D) Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.


4. Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type.
What is the solution?

A) Create an Account Rule with two rule elements using one for expense type mapping and the other for the condition of supplier type.
B) Create two journal line rules with a condition of supplier type.
C) Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.
D) Create an Account Rule with 31 rule elements using one condition for each expense type and another for supplier type.


5. 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) 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.
B) Use Oracle Hyperion Financial Management for this type of complex consolidation.
C) 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.
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.


Solutions:

Question # 1
Answer: A,C,D
Question # 2
Answer: D
Question # 3
Answer: C
Question # 4
Answer: A
Question # 5
Answer: B

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