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| Section | Objectives |
|---|---|
| Subledger Accounting | - Subledger to GL Integration
|
| General Ledger Setup | - Enterprise Structure Configuration
|
| Reporting and Analysis | - Financial Reporting
|
| Period Close Process | - Close Activities
|
| Journal Processing | - Journal Creation and Posting
|
1. For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?
A) Nothing, existing historical rates are not updated.
B) The historical rate is replaced.
C) Historical rates are converted into an average rate (original and new rate).
D) The existing historical rate is deleted.
2. When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?
A) when the journal is balanced by the primary BSV but not by second or third BSV
B) when the journal is balanced by second balancing segment value
C) when there is a many-to-many journal and you want to use a clearing company
D) when the journal is not balanced by the primary balancing segment value (BSV)
3. After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable "Limit a Journal to a Single Currency"?
(Choose two.)
A) Ledger options
B) Journal category
C) Journal lookup codes
D) Profile option
E) Journal sources
4. Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.
Note:
. Prefix your alias name with 07, where 07 is your exam ID.
. There is no Product or Intercompany impact.
5. 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
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: A,E | Question # 4 Answer: Only visible for members | Question # 5 Answer: Only visible for members |
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