A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:Dr Unbilled Receivables 40,000Cr Revenue 40,000At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)
You have projects and tasks defined with transaction controls, which does not allow certain types of charges to the project. Your business needs to create invoices in AP with this project every period and hence would like to make the process easier by creating a distribution set. As you create the distribution set, you notice that these distribution set lines are not validated against the project transaction controls and you are allowed to save it without any validation errors.Identify the reason why the project transaction controls are not applied. (Choose the best answer.)
You are implementing Project Portfolio Management (PPM) for a professional services firm. The firm rents multiple buildings for its operations. At the end of each month, they review the rent expense for the month and want to allocate the rental cost to all the projects and tasks that are executed by associates in each of the buildings. The source amounts must be proportionally allocated to the tasks based on the raw costs of the tasks from the previous month.Considering that all these costs are in General Ledger, what three allocation setups should you complete in PPM? (Choose three.)
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice. Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.Identify the correct statement about details in the receivables invoice. (Choose the best answer.)
A project administrator is trying to assign a team member for a project, but cannot find the person in the team member list on the Project Definition page. What is the reason for this problem? (Choose the best answer.)
Your client is involved in automation control systems installation. Over the years, they have analyzed their total project spend on specific resource classes. They have identified that their cost spread distribution factor on a 10 spread point scale resembles: 0-4-10-11-14-13-10-4-0-0.Identify two ways to handle this kind of a spread on their budgets and forecasts. (Choose two.)
