Interview Questions in Oracle 11i e-Business suite General Ledger
811. Q: What are the different types of budgetary control?
A: absolute/advisory/none
2. Q: If the budget for a particular account is exhausted, can I override the budget and approve the invoice/batch?
A: Yes, Use budgetary control groups
3. Q: What are the mandatory accounts while defining the set of books?
A: Intercompany, Suspense, Retained Earning, Cumulative Translation Adjustment, Reserve for encumbrance, Net Income
4. Q: Define the procedure for setting up the Set of Books?
5. Q: Explain the year end procedure? Does GL pass an entry from transferring the closing balance to the next year?
A: After ensuring that all the balances from the feeder systems are transferred to GL accurately. Close all the periods in the feeder systems. After the necessary adjustment, close the GL period. System will automatically transfer the net balance to the next open period. No transfer entries are passed.
6. Q: Can I have multiple source and categories for Journal entries?
A: Yes
7. Q: What is multi-org? What is the profile option associated with it?
A: A single installation different operating units. Profile option-MO: Operating unit
8. Q: If currently I have a 5 Segment accounting Flexfield a six month down the line, I want to add one more segment, How will you do it?
9. Q: Can I budget for an account for debit as well as credit?
A: NO
10. Q: What are the types of recurring journals?
A: Standard/skeleton/formula
11. Q: Can I have credit balance for statistical journals?
A: NO
12. Q: Difference between Security Rules and Cross Validation Rules ?
A: Security rules are responsibility specific and Cross validation rules restrict the formation and usage of certain account combinations.
13. Q: What is a Cumulative Translation Adjustment Account ?. When does it get populated ?
A: CTA takes the net difference arising out of translation. It is listed under share capital.
14. Q: Difference between Closed and Permanently closed Periods ?
A: A closed period can be reopened but a permanently closed period can never be reopened.
15. Q: Is the Master Budget a funding budget ?
A: No
16. Q: What does Auto Rate Program do ?
A: Populates daily rates
17. Q: What are the different Segment Rules in consolidation ?
A; Copy value, Single value, parent roll up, detail rollup
18. Q: When budgets are defined when and where do you post budget journals ?
A; You need not post budget journals
19. Q: Can you have a summary budget and how to define it ?
A: Yes
20. Q: What balances are carried forward at the end of the year (when the periods are closed)?
A: Asset and liability (including retained earnings)
21. Q: what accounting entries are passed at the year end when all the periods are closed ?
A: None
22. Q: Can a calendar have different calendar types ?
A: Yes. However you can attach only one calendar and one period type to set of books
23. Q: Maximum number of accounting periods?
A: 366
24. Q; Maximum number of budget periods ?
A: 60
25. Q: What does A, B, C stand for in Mass Allocation ?
A: A= Total Cost, B= Actual Usage, C= Total Usage
26. Q: Can you sum and loop a child value ?
A: NO. Sum and Loop is only for parent values
27. Q. What are the Key Flexfields
A: Accounting Flexfield
