Oracle Apps Functional Interview Questions And Answers Pdf
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- General Ledger Interview Questions in R12
- Oracle Apps Functional Interview Questions
- Oracle Financials Interview Questions And Answers
General Ledger Interview Questions in R12
There are a lot of opportunities from many reputed companies in the world. According to research, Oracle Apps Functional has a market share of about 5. So, You still have the opportunity to move ahead in your career in Oracle Apps Functional Development. Ans: Journals it is used to record the business transaction it contains debit and credit lines always debit must be equal to the credit.
O2C processing four high-level processes i. Translation : It is used to translate functional currency balances into foreign currency balances at the account level Revaluation : It is used to identify the unrealized gain or loss. Example : On Dec As per the above journal lines on Dec, the customer is liable to pay USD to the supplier. Ans: You can dynamically create new account code combinations when entering data by enabling dynamic insertion in the Key Flexfield Segments window.
The alternative method for this is, you can require all accounts to be defined manually in the Accounts Combinations window. Since you are not paying the amount immediately, you need to keep track of the amount needs to pay to the supplier after phase one. In the case of Standard Cash, only payment accounting will be there. Reason: While purchasing an item you pay the amount immediately to the supplier.
Natural Account Each Accounting Flexfield structure must contain only one natural account segment. Balancing Account Each structure must contain only one balancing segment. Oracle General Ledger ensures that all journal balances for each balancing segment.
Cost Center This segment is required for Oracle Assets. The cost center segment is used in many Oracle Assets reports and by Oracle Workflow to generate account numbers. In addition, Oracle Projects and Oracle Purchasing also utilize the cost center segment. Intercompany General Ledger automatically uses the intercompany segment in the account code combination to track intercompany transactions within a single ledger.
This segment has the same value set and the same values as the balancing segment. Use secondary ledgers for supplementary purposes, such as consolidation, statutory reporting, or adjustments for one or more legal entities within the same accounting setup. For example, use a primary ledger for corporate accounting purposes that use the corporate chart of accounts and subledger accounting method, and.
Reporting Currencies are not the same as secondary ledgers. If you only need multiple currencies to support your reporting requirements, use reporting currencies. If you need to account for your data using different calendars, charts of accounts, accounting methods in addition to currency, use a secondary ledger.
Ans: Typically, the last day of the fiscal year is used as an adjusting period to perform adjusting and closing journal entries. Once you begin using your accounting calendar, you cannot change its structure to remove or add an adjusting period. Choosing whether to include an adjusting period or not in your calendar is a very important decision.
You can have an unlimited number of adjusting periods. Blanket PO: Blanket PO is created when you know the detail of the goods or services you plan to buy from a specific supplier in a period, but you do not know the detail of your delivery schedules. Planned PO: Planned PO is a long—term agreement committing to buy items or services from a single source. You must specify tentative delivery schedules and all details for goods or services that you want to buy, including charge account, quantities, and estimated cost.
Contract PO: Contract PO is created when you agree with your suppliers on specific terms and conditions without indicating the goods and services that you will be purchasing. Eg: Suppose we Had given PO for items, for that we will receive an invoice for items. But we had received only 80 items, But we had received an invoice for items. Suppers send us 80 items We will do an inspection on those items whatever we have received If 10 items got damaged.
Ans: Payables use payment terms to automatically calculate due dates, discount dates, and discount amounts for each invoice you enter. Payment terms will default from the supplier site. If you need to change the payment terms and the terms you want to use are not on the list of values, you can define additional terms in the Payment Terms window. Ans: This particular program is run in order to transfer an un-accounted invoice to the next opened period during the period-end closing of Accounts Payable.
In order to negotiate Transfer these invoices to the next open period, this program is run. So that the Payable period can be closed. AP Invoice: it is nothing but what amount going out towards receiving Raw material from the vendor or supplier.
AR Invoice: it is nothing but what amount coming in by selling the product to customer or parties Revenues. Later it will apply against the featured debit. Key Flex field: is used to capture mandatory information of the organizations.
In GL 3 types 1. Accounting flex field mandatory 2. Reporting attribute optional 3. Gl ledger flex field optional. IN AR Two types 1. Territory Flexfield.
In FA Three Flex field i. Category mandatory , Asset key mandatory , Locations flex field. Ex: Purchase Returns. Its negative amount identified by the Supplier and sent to the Customer. In Payable we are receiving the material from the supplier.
We send a memo to the supplier is called a debit memo or the supplier sends a memo is called a credit memo. Both of reducing our liability. Then the customer has sent you the credit memo but if the customer says send me the debit memo then you will generate a debit memo from your end.
Both are the same as functionality. Either we may forget to add freight charges or some other thing. So at that time we are prepared or Rise the Debit memo it is increased the Org balance. Customer is Under Charged at that time Org prepare Debit memo In the AR Credit memo is a Negative Amount if you billed more than your customer then Org needs to raise the Credit memo to give the credit to your Customer, so it is decreasing the Org balance.
Standard invoice 2. Credit memo 3. Debit memo 4. Prepaid invoice 5. Expense report 6. Quick invoice 7. Mixed invoice 8. PO default 9. Withholding Tax invoice.
Recurring invoice 2. Interest invoice. Invoice 2. Deposit 5. Guaranty 6. Chargeback 7. Bills Receivables. Ans: Approval hierarchies let you automatically route documents for approval. In this case, positions are not required to be setup. If you choose to use position hierarchies, you must set up positions. Even though the position hierarchies require more initial effort to set up, they are easy to maintain and allow you to define approval routing structures that remain stable regardless of how frequently individual employees leave your organization or relocate within it.
Standard Invoices: Standard Invoices are invoices from a supplier representing an amount due for goods or services purchased. Standard invoices can be either matched to a purchase order or not matched. Standard invoices must be positive amounts. Mixed Invoices: Mixed Invoices can be matched to both purchase orders and invoices. Mixed invoices can have either positive or negative amounts. Subscribe to our youtube channel to get new updates..! Oracle Apps Functional Certification Training!
Oracle Apps Functional Interview Questions
It gives a set of applications including financial accounting, material planning, self-service reporting, and analytics. Categories of Oracle Financials Interview Questions. Configure applications to support your own accounting, product, and other codes. Enable the construction of intelligent keys. Configure the application to capture additional data. Use the application to validate values and value combinations entered by the user.
What are the master datas in Manufacturing process of Oracle Apps? What is indented BOM? Manual - PR need to be generated manually. What is oracle apps project planning? Distribution percentage will get applied at forecast explode.
Revaluation rate is the reverse of period end rate. Q41) The revaluation journals are created in which currency? Functional money. Q42) Which.
Oracle Financials Interview Questions And Answers
Tks very much for your post. Avoid surprises — interviews need preparation. Some questions come up time and time again — usually about you, your experience and the job itself. We've gathered together the most common questions so you can get your preparation off to a flying start. You also find all interview questions at link at the end of this post.
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There are a lot of opportunities from many reputed companies in the world. According to research, Oracle Apps Functional has a market share of about 5. So, You still have the opportunity to move ahead in your career in Oracle Apps Functional Development. Ans: Journals it is used to record the business transaction it contains debit and credit lines always debit must be equal to the credit. O2C processing four high-level processes i. Translation : It is used to translate functional currency balances into foreign currency balances at the account level Revaluation : It is used to identify the unrealized gain or loss. Example : On Dec
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