Interview Questions.

Q1. Can A Flexfield Qualifier Be Changed After It Has Been Created?

No. Once a section qualifier has been designated for a specific section and has been stored, it will permanently have the attributes with that qualifier.

For example, you accidentally designate the fee center segment because the natural account segment. Even though you do no longer compile this, the system saves the adjustments. And once it's been stored, it'll have all the attributes distinct for the herbal account qualifier, even after it has been changed again, resaved with the right qualifier and compiled. This is the inherent capability of the software.

Unfortunately, there is no real smooth answer for this difficulty. The simplest option is to create a brand new chart of debts and fix a new set of books.

Q2. What Are The Different Types Of Journals In General Ledger ?

Functional Currency Jv: This Journal, we enter Local Currency traction purpose.

Foreign Currency Jv: this Journal, we input other than local forex traction motive...Before we outline exchange charges

Suspense Jv: this Journal, on every occasion debit is not identical to credit that time, we permit in set of books window Suspense button, then it works in any other case it is no longer operating

Tax Jv: this Journal, calculate taxation of Purchased objects

Reverse Jv: this Journal each time we input ordinary magazine, on the time of we using..We have  methods...One is Debit to Credit and 2nd one is signal (+ to -)

Recurring Jv :this one is We define one template, we use Periodically, these are three kinds

1.Standard 2.Skeleton 3.Formula

Mass Allocation Jv :Set of Expenses or Set of Revenue allocate exclusive elements the use of Formula A*B/C

A is Total Cost Pool..B is Usage Factor...C is Total Usage Factor...

Batch JV: Group of Journal we enter at a time, We Define Control Amount

Stat JV: This JV we've one side of Amount both debit or Credit.....

Q3. What Is The Use Of Gl_interface?

Gl_Interface is the number one interface table of General ledger. It acts as an interface between statistics originating from other modules which include AP,AR, Legacy information and the Gl Base tables.

Q4. What Is Planning Budget?

The plan for the destiny prices is planning finances. It is a paper work. There is not any budget requirement. It does no longer require journals. There aren't any restrictions for estimating of funds.

Q5. What Is The Difference Between Revaluation And Trlation?

Revaluation is used to determine the position of overseas forex borrowers, creditors etc on the give up of month; and it created revaluation magazine entries.

While Traslation is a capability used to convert all balances which include practical foreign money (say INR) balances in a given overseas currency (USD). Then, Trial Balance in that forex(USD) may be generated. It is used whenof a subsidiary or department (INR) are required to be merged with any other agency reporting in one-of-a-kind forex (USD).

Q6. Is There A Limit To The Number Of Periods In A Budget Year Or How Many Years A Budget Can Span?

One can outline budgetary manage for n quantity of years but, 12 months can have most of 60 monetary periods7.

Q7. Are These Dff's Flexible?

A little flexible, for instance, relying upon the value in a area, we can make  either Field1 or Field2  to seem in DFF. 

Q8. Can The Gl Period Be Closed When There Are Unposted Journals In The Period? What Error Will It Give?

Unlike AP and AR, in which duration cannot be closed except all tractions are processed; GL period may be closed even supposing there are unposted journals. So, it offers no errors as such.

Q9. What Is A Funding Budget? And What Is Its Purpose?

A investment finances is a price range for which 'Require Budget Journals' take a look at container is checked. Funding budget may be used to manipulate costs if budgeting manage is enabled at Set of Books (SOB) level.

Q10. How Many Types Of Budgets Are There?

Two Types:

Expenditure Budgets

Revenue Budgets.

Q11. What Is Journal Import?

Journal import is an interface used to convey magazine entries from legacy systems and different modules into the General Ledger.(Specifically Journal Import gets entries from legacy records into the GL base tables.

The tables populated for the duration of magazine Import are

GL_JE_BATCHES,

GL_JE_HEADERS,

GL_JE_LINES,

GL_IMPORT_REFERENCES

Q12. What Is The Meaning Of Retained Earning? Where The Retained Earning Account Given?

Retained Earnings constitute the undistributed profits of a organisation i.E. Profits retained. The retained earning account is a obligatory account to accept at the time of defining Set of Books (SOB).

Q13. What Is The Maximum Number Of Periods Allowed In A Year While Defining Gl Calendar? Can You Two Periods In Gl Calendar Overlap?

GL calander permits for 1 to 366 durations per yr. And two intervals can't overlap unless considered one of them is an adjustment duration.

Q14. What Is Consolidation?

Consolidation is a period-end system of combining the financial consequences of separate enterprise subsidiaries with the discern corporation to form a unmarried blended announcement of monetary outcomes.

Q15. What Is Fsg (economic Statement Generator)?

Financial assertion generator characteristic helps us to generate reports which includes stability sheets and income statements with out programming. It additionally provides a excessive diploma of manage at the rows, columns, contents and calculations at the report. Different additives such as row set, column set, content material set, row order, show set should be described before a announcement is generated, of which row set and column set are obligatory.

Q16. What Is Security Rule?

Security Rules are defined to manipulate the access of a flexfield segment fee (Financial records) at a obligation stage.

Q17. What Is Average Balance In Oracle Financials?

The Average Balance characteristic of Oracle General Ledger offers organizations with the ability to music common and stop-of-day balances, file common balance sheets, and create custom reviews using each widespread and average balances. Average stability processing is mainly vital for monetary establishments, considering that average stability sheets are required, similarly to conventional stability sheets, by using many regulatory organizations. Many corporations additionally use average balances for internal management reporting and Profitability analysis.

The distinction between a median and widespread balance sheet is that balances are expressed as common amounts rather Than actual duration-cease quantities. An average stability is computed as the sum of the actual daily final stability for a stability sheet account, divided by means of the wide variety of calendar Days inside the reporting period .

Q18. What Are The Interface Tables In General Ledger ?

GL_BUDGET_INTERFACE 

GL_DAILY_RATES_INTERFACE 

GL_IEA_INTERFACE 

GL_INTERFACE 

GL_INTERFACE_CONTROL 

GL_INTERFACE_HISTORY 

Q19. If Journal Approval Flag Is Checked While Defining Set Of Books (sob) Then All Journals Will Necessarily Require Approval. Is This Statement Correct?

In addition to allowing Journal Approval flag at SOB stage; Require Journal Approval flag at Journal Sources level for journals to require approval.

Q20. What Is Trlation?

Trlation is a technique used to transform functional foreign money to different reporting currencies at the account balances level.

Q21. What Is Actual Flag?

Actual flag represents the Journal type.

A-Actual

B-Budget

E- Encumbrance.

Q22. Can I Add Hundreds Of Fields To A Given Screen?

This relies upon on the range of characteristic columns within the table that display makes use of. Also, the ones columns should be flagged as DFF enabled in DFF Registration display. Don't want to worry tons about this due to the fact all the ATTRIBUTE columns are by means of default flagged for their DFF usage.

Q23. What Are The Various Type Of Accounts In Gl? And At What Point Is The Type Of Account Identified? And Explain The Nature Of Accounts?

Five type of accounts are maintained in GL

Expense (E)

Revenue (R)

Asset (A)

Liabiltiy (L)

Owner's Equity (O)

While defining the Natual Account section values, in the section qualifier we specify the character of account. The form of account for a Code aggregate is stored in GL_CODE_COMBINATIONS

Expense and Revenue debts represent expenses/losses and Revenues/Gains respectively. And these money owed have a ZERO balance at the start of the yr. This factor has to be sorted even as growing reports wherein Opening Balance is calculated rather than using GL_BALANCES table.

Owner's Equity represent Share Capital and includes retained profits and reserves, if any. Owner's Equity together with Asset and Liability Balances are carried forward at the stop of yr.

Q24. Difference Between Primary Ledger And Secondary Ledger In R12 ?

Primary ledger: The number one ledger acts as the number one accounting representation

Secondary Leger: Secondary ledgers represent the number one ledger's accounting facts in some other accounting illustration that differs in a single or greater of the subsequent methods: 

chart of money owed

accounting calendar/duration type mixture

foreign money

subledger accounting method

ledger processing options

Use secondary ledgers for supplementary functions, which includes consolidation, statutory reporting, or changes for one or greater criminal entities within the equal accounting setup. For instance, use a primary ledger for company accounting functions that uses the corporate chart of money owed and subledger accounting technique, and use a secondary ledger for statutory reporting purposes that makes use of the statutory chart of bills and subledger accounting technique. This lets in you to maintain both a company and statutory representation of the same prison entity's tractions in parallel. 

Assign one or greater secondary ledgers to every primary ledger for an accounting setup. 

The secondary ledgers assigned can best carry out the accounting for the prison entities in the equal accounting setup. 

Q25. Is There A Way To Load Values For A Specific Segment Outside Of The Form?

ISetup is the Oracle product that offers supported APIs to load values into Oracle Applications flexfields.

To load code combinations ADI can be used. Uploading zero quantity journals will create new code mixtures.

In this example Dynamic Insertion must be enabled and all account section values need to exist before the brand new account code combos may be dynamically created.

Q26. How Many Key Flex Fields Are There In General Ledger?

One. Accounting Key Flex Field.

Q27. What Is Dff?

DFF is a mechanism that lets us create new fields in displays which might be brought by means of Oracle.

Q28. I Was Able To Post A Budget Journal To A Closed Period, Why?

Yes you may do so, cause being finances magazine isn't always linked with your accounting period. Once you have open the finances period then you can e-book budget journal for that whole length.

Q29. Will The Values That Get Entered By The User In Dff Fields Be Updated To Database?

Indeed, this takes place because for each subject which you create the use of DFF will be mapped to  a column in Oracle Applications.

Q30. What Are Spot Rate, Corporate Rate, Traction Calendar And Accounting Calendar?

Spot Rate: An exchange fee that you enter to perform conversion primarily based on the charge on a specific date. It applies to the instant transport of forex.

Corporate Rate: An Exchange fee that we outline to standardize costs for our employer. This price is the usual market price determined with the aid of the senior economic control for use through out the company.

User Rate: Conversion charge that is defined with the aid of the user.

EMU Fixed Rate: An alternate charge this is provided robotically through the General Ledger even as entering journals. It makes use of a overseas currency that has a set dating with the euro.

Traction Calendar: Defines the enterprise days and vacations for any calendar.

Accounting Calendar: Defines exclusive forms of calendars specifically Fiscal, Federal Fiscal, Month and many others.

Q31. What Is A Funding Budget?

A finances in opposition to which accounting tractions are checked for to be had finances while budgetary control is enable in your set of books.

Q32. How To Delete A Segment Value?

There isn't any supported way to delete a segment price. Segment values can best be disabled no longer deleted.

Q33. What Happens When The Posted Journal Are Changed?

Posted Journal can't be modified. They can simplest be reversed.

Q34. What Are Cross Validation & Adi?

CVS – Cross validate segments – Allows simplest legitimate code mixtures.

ADI – Allow dynamic inserts. – Allows any code mixture no matter validity.

ADI would succeed if both of CVS and ADI are checked.

Q35. What Are The Various Type Of Balances Supported By Gl?

Oracle GL supports three type are balances which are:

Actual

Encumbrance

Budger

Q36. What Is Encumbrance?

It is a method of Reservation of finances for anticipated expenditure from a price range. Encumbrance integrates GL, Purchasing and Payables modules.

Q37. Are These New Fields That Get Created As A Result Of Dff Free Text?

If you attach a value set to the sector(at time of setup of dff), then discipline will now not be unfastened text. The entered fee inside the subject can be proven, also a list of legitimate values could be furnished in LOV. 

Q38. At What Level General Ledger Data Is Secured?

GL information is secured at Set of Book stage. Subledger module records is secured at Responsibility stage (i.E., at Operating Unit Level).

Q39. What Is Revaluation?

It is system used to revalue assets and liabilities denominated in foreign forex into purposeful foreign money primarily based on period end trade price we specify. Unrealized profits/losses are resulted because of trade charge fluctuations which can be recorded in unrealized advantage/loss account in GL.

Q40. Can I Create A Dff On Any Database Column?

Not definitely. Oracle promises a predefined list of columns for each desk that are intended for DFF utilization. Only those columns can be mapped to DFF segments. These columns are named just like ATTRIBUTE1, ATTRIBUTE2, ATTRIBUTE3 ETC. Usually Oracle affords upto 15 columns, but this number can range.

Q41. What Are The Maximum Number Of Period That Can Be Open In Gl?

There isn't any restrict on range of durations that can be concurrently open GL; however, it is cautioned to keep the quantity of GL Open periods to minimal.

Q42. What Is The Specific Purpose Of Assigning Balancing Segment Values To The Legal Entity In Accounting Manager Setup (as Once Assigned, The Same Value Is Not Allowed To Be Selected For Any Other Legal E

Summary of key facts:

Common COA Structure used for Primary and Secondary Ledgers

Ledger shared through Multiple Legal Entities

Specific Balancing Segment Values assigned to Specific Legal Entity (Overlap no longer allowed)

Specific Legal Entity Vision Operations Assigned to Payables Manager OU for Legal Entity Context

User choice set to Access Vision Operations OU through Default in Payables

Conclusion and Findings:

Balancing Segment Value Assignment to the Multiple Legal Entities, sharing the identical Ledger does no longer appear to restriction the consumer of those Balancing Segment Values within the Feeder, Operating Unit precise Modules Like AP, wherein Legal Entity Context is surpassed to the OU via the hyperlink of the Primary Ledger.

However, get right of entry to to these Balancing Segment Values might be controlled via Security Rules being assigned to the Value Set and the Respective Responsibility

The Key query is: If Legal Entity having the context to the Operating Unit that stocks the not unusual Ledger does now not have project to it, what impact it has on the integrity of statistics whilst this get admission to is in any other case allowed, except thru Security Rules?