Oracle Fusion Financials General Ledger Fresher Interview Questions

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Oracle Fusion Financials General Ledger Fresher
Interview Questions

• 1. What is a Legal Entity?
• a) Legal entity is a recognized party with rights
  and responsibilities given by legislation.
• 2. How many Segments are in Accounting Flexfield
  (AFF)
• b) 30 in total (Min 2 Max 30)
• 3. What is the structure of KFF in the Accounting
  Flexfields? We create and show you these
  segments in the Oracle Fusion Financials Training
• Company
• Department
• Account
• Services

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• Future Use1
• Future Use2
• List the mandatory Flexfield Qualifiers in Oracle
  fusion financials?
• Primary Balancing Segment Company
• Natural Account - Account
• What is the purpose of Dynamic Insertion?
• At run time to create code combinations
• What is Fiscal Calendar in Oracle Cloud
  Financials?
• Fiscal Calendar (Other than Jan to December)
• What Roles are used in GL?

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• a) Its a feature of Key flexfield, applicable on
  Value Sets.
• 12. What is the status of Periods?
• Never Open
• Open
• Closed
• Future Enterable
• Permanently Closed
• 13. Newly Entered Journal Status?
• Unposted.
• Posting statuses.

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• 17. Rate types available for Revaluation?
• Daily rates
• Historical rates
• The revaluation rate is the inverse of the
  period-end rate.
• 18. Revaluation Journals are created in which
  currency?
• a) Functional Currency
• 19. Definition of Retained Earnings Account in
  Oracle cloud financials?
• a) GL posts the net balance of all income and
  expenses accounts from the prior year to this
  account when you open the first period of a
  fiscal year.
• 20. How do you decide on the Chart of Account
  Structure?
• a) The Chart of account structure depends upon
  the reporting requirement.

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• a. Document sequence
• 27. How you manage Journal Approvals ?
• a) BPM (Business Process Management)
• 28. Tool to upload exchange Rates, Journals ?
• a. ADFDI (Application Development Framework
  Desktop Integration)
• 29. Important Oracle Fusion General Ledger Tables
• GL_LEDGERS
• GL_JE_HEADERS
• GL_JE_LINES
• GL_CODE_COMBINATIONS

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• 33. Mechanism to Translate Journal Balances
  (functional) to other currency ?
• Secondary Ledger
• Reporting currencies
• 34. Which process is used to adjust account
  balances denominated in a foreign currency?
• a) Revaluation
• 35. Which process you can use for a specific
  Reporting Currency, you select the target
  Reporting Currency and perform the activity.
• a) Translation Process
• 36. The transactions can only be entered but
  cant be posted to which Period status?
• a) Future Enterable
• 37. The GL period once closed, can never be
  opened? which status its in?

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• Different types of Flags which represent
  Journals?
• A-Actual B-Budget
• E- Encumbrance.
• A process of Reservation of funds for anticipated
  expenditure from a budget. Encumbrance
  integrates GL, Purchasing and Payables modules.
• a) Encumbrance
• 45. Types of Budgets?
• a) Expenditure Revenue Budgets
• 46. A period-end process of combining the
  financial results of separate business
  subsidiaries with the parent company to form a
  single combined statement of financial results.
• a) Consolidation Process
• 47. Mechanism to modify/change the posted
  journals?