Which two are valid Data Access Set types? (Choose two.)
Manage Chart of Accounts Structure and Instance Scenario Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5 -segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts. Task 1 Create a Chart of Accounts Structure and Instance for the following Chart of Accounts: Note: · Prefix all your setups with 07, where 07 is your candidate ID · There is one balancing segment. · Choose the appropriate segment labels. . For the purpose of this test there is no need to deploy the flexfield. . Valid code combinations should be added to the Code Combination table automatically. · Shorthand aliases will not be implemented. . Accept the defaults for the instance segments. ee the Explanation for the complete Solution. Explanation: Here are the steps you need to follow: Navigate to the Setup and Maintenance work area and search for the task Manage Chart of Accounts Structures. Click on the Create icon to create a new Chart of Accounts Structure. Enter the following information: Structure Code: 07COA Structure Name: 07 Chart of Accounts Description: Chart of Accounts for candidate 07 Number of Segments: 5 Click on the Next button to define the segments. Enter the following information for each segment: Segment Number: 1 Segment Name: Company Value Set Code: 07Corporate Company Value Set Name: 07 Corporate Company Maximum Size: 3 Balancing: Yes Segment Label: Company Segment Number: 2 Segment Name: Cost Center Value Set Code: 07Corporate Cost Center Value Set Name: 07 Corporate Cost Center Maximum Size: 4 Balancing: No Segment Label: Cost Center Segment Number: 3 Segment Name: Account Value Set Code: 07Corporate Account Value Set Name: 07 Corporate Account Maximum Size: 8 Balancing: No Segment Label: Natural Account Segment Number: 4 Segment Name: Product Value Set Code: 07Corporate Product Value Set Name: 07 Corporate Product Maximum Size: 3 Balancing: No Segment Label: Product Segment Number: 5 Segment Name: Intercompany Value Set Code: 07Corporate Company Value Set Name: 07 Corporate Company Maximum Size: 3 Balancing: No Segment Label: Intercompany Click on the Next button to review the summary and click on the Save and Close button to save the Chart of Accounts Structure. Navigate to the Setup and Maintenance work area and search for the task Manage Chart of Accounts Structure Instances. Click on the Create icon to create a new Chart of Accounts Structure Instance. Enter the following information: Structure Code: 07COA Structure Name: 07 Chart of Accounts Description: Chart of Accounts for candidate 07 Chart of Accounts Structure: 07COA Enabled: Yes Allow Dynamic Inserts: Yes Click on the Next button to review the summary and click on the Save and Close button to save the Chart of Accounts Structure Instance. You have successfully created a Chart of Accounts Structure and Instance for the given scenario. For more information, you can refer to the following resources: Chart of Accounts Structures and Instances Chart of Accounts Components Minimum Steps For Financial Enterprise Structures Configuration Overview of Creating and Configuring Chart of Accounts Structure and Instances
Which three factors should you consider while specifying Intercompany System options?
Challenge 2 Manage Shorthand Aliases Scenario Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear 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. Explanation: ee the Explanation for the complete Solution. Here are the steps you need to follow: In the Setup and Maintenance work area, go to the following: Offering: Financials Functional Area: Financial Reporting Structures Task: Manage Shorthand Aliases Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts. Click on the Add Row icon to create a new alias. Enter the following information: Alias Name: RevDom Account Template: 101-2000 -400000 -000-000-000 Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center Enabled: Yes Start Date: Today’s date End Date: Blank Click on the Save and Close button to save the alias. You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources: Account Aliases Enter a GL Account Alias Short Hand Alias in Fusion Financials Key Flexfield How to Enable Account Shorthand Aliases
Task 3 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 Explanation: ee the Explanation for the complete Solution. Here are the steps you need to follow: In the Setup and Maintenance work area, go to the following: Offering: Financials Functional Area: Financial Reporting Structures Task: Manage Chart of Accounts Mapping Select the source chart of accounts (UK) and the target chart of accounts (CA) that you want to map. Click on the Segment Rules tab to define the segment mapping rules. Enter the following information for each segment: Segment Number: 1 Segment Name: Company Mapping Type: Value Source Value: * Target Value: * Segment Number: 2 Segment Name: LoB Mapping Type: Value Source Value: * Target Value: * Segment Number: 3 Segment Name: Account Mapping Type: Range Source From Value: 1000 Source To Value: 1999 Target Value: 11101 Mapping Type: Range Source From Value: 2000 Source To Value: 2999 Target Value: 22100 Mapping Type: Range Source From Value: 3000 Source To Value: 3999 Target Value: 34000 Mapping Type: Range Source From Value: 4000 Source To Value: 4999 Target Value: 42000 Mapping Type: Range Source From Value: 5000 Source To Value: 99999999 Target Value: 51100 Segment Number: 4 Segment Name: Cost Center Mapping Type: Value Source Value: 0 Target Value: Balance Sheet Mapping Type: Value Source Value: 000 Target Value: Balance Sheet Mapping Type: Value Source Value: * Target Value: 610 Segment Number: 5 Segment Name: Product Mapping Type: Value Source Value: * Target Value: * Segment Number: 6 Segment Name: Intercompany Mapping Type: Value Source Value: * Target Value: * Click on the Save and Close button to save the segment mapping rules. You have successfully created a Chart of Accounts mapping for the given scenario. For more information, you can refer to the following resources: Overview of the Chart of Accounts Mapping Page Chart of Accounts Structures and Instances How To Create A Chart Of Accounts Mapping For A Secondary Ledger How To Bulk Upload The Mapping Rules In “Manage Chart of Accounts Mapping” Centralized Management of Chart of Accounts Configurations Thank You for Being Our Valued Customer We Hope You Enjoy Your Purchase Oracle 1Z0 -1054 -24 Exam Question & Answers Oracle Financials Cloud: General Ledger 202 4 Implementation Professional Exam
An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?
