GL – Consolidation – Certification MCQs – Portal

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Question 1 of 3

1. Question

Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

Use the General Ledger’s Calculation Manager to define an allocation definition to eliminate entries that you can generate every period

Use the spreadsheet template that is accessed from the “Create Journal in Spreadsheet” task and import the spreadsheet with the eliminating entries every period

There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management

Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period

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Question 2 of 3

2. Question

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance.
They do perform intercompany accounting. What is Oracle’s recommended approach to performing consolidations?

Use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment

Use Oracle Hyperion Financial Management for this type of complex consolidation

Use General Ledger’s Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.

Define multiple ledgers for consolidation and report on ledger set

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Question 3 of 3

3. Question

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle’s recommended approach to performing consolidations?

Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledgerset.

Use Oracle Hyperion Financial Management for this type of complex consolidation.

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GL – Consolidation – Certification MCQs

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