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May 23, 2015

5/23/2015 03:08:00 PM
What are the key functions provided by GL.
General Accounting            Budgeting
Multiple Currencies             Inter-company Accounting
Cost Accounting             Consolidation
Financial Reporting           

2. What are the three types tables available in Oracle Applictions
    Master Table: Store Static data,. This is shared with in each module as well as across all of the Oracle financial application modules ex. ACCOUNTS, SUPPLIER, CUSTOMER etc.
Setup Table : it store setup data. That is never shared between applications such as application parameters and LOOK UP tables.
Transaction Tables: these tables stores day-to-day transaction data such as payables invoices, journal entries etc.

3. What are the Oracle General Ledger Setups.
1.    1.    Chart of Accounts
2.    Account combinations(o)
3.    Period types
4.    Accounting Calendar
5.    Transaction Calendar(o)
6.    Currencies
7.    Set of Books
8.    Assign set of books
9.    Currency exchange rate types
10.    Currency exchange rates
11.    Journal Sources(o)
12.    Journal Categories(o)
13.    Suspense Accounts(o)
14.    Inter-Company Accounts(o)
15.    Summary Accounts
16.    Statistical Units measures(o)
17.    Historical Currency Exchange Rates
18.    Document sequences(o)
19.    Automatic Posting(o)
20.    Encumbrance  Types(o)
21.    Concurrent program Controls(o)
22.    Storage Parameters(o)
23.    Budgetary Control Groups
24.    Profile options
            25. Descriptive Flexfileds
           26. Open and Close Accting periods

4. Chart Of accounts :A Chart of Accounts is the account structure we use to record accounting transactions and maintain accounting balances. It is a key flex field.

5. Flex Fied: A Flex Field is a combinations of one or more data segments defined by the user.For Chart of accounts, we configure up to 30 segments in a flexfield and min is 2.
    Descriptive Flexfield: We can store the additional Information in customized from or  existing form.

6. Value Set:   the value set defines the valid values for each segment of our Chart of Accounts. There are 6 validations types 1. Dependent  2. Independent 3.none 4. Pair 5 special  6. table 

INDEPENDENT:An independent valueset provides a pre defined list of values for a segment.

DEPENDENT: A dependent value set is similer to independent value set , or dependent value set depends on any independent or dependent value set.
TABLE :Table provides list of values like an independent set .But values will stored in application table.

NONE: No restrictions.

7.Transactions: Exchange of goods and services with the intension of earning

8.What is a Qualifiers?
    Qualifier is a behavior of a segment.

9. Segment Qualifiers
    Companies    ---------- Balancing segment   
    Departments     ----------Cost Centers Segment
    Accounts    ----------Natural  Accounts Segment.
10. What are the format types available in Values sets?
    Character, date, date time, number, std date, std date time,. Time.
11. What are Accounting Qualifiers?
    Allow budgeting
    Allow positing
    Account type
    Control Account
    Reconsiliation flag
12. Security Rules:
    These are used to limit access to certain segment values for a particular segment.
13. Cross Validation Rules:
    These rules validate data across segments of a flex field.
14. Types of Calender:
    Normal: January to dec.
    Fiscal: April to march.
15. Period Types:
    daily, Month, Quarter, Year.
16. Accounting Calender:
    It is used to define the no. of periods in the calendar year. Our calendar can contain both adjusting and non-adjusting accounting periods.
17. Transaction Calender:
    It is used to define the business days of an organanization.
18. Types of Currency:
    Functional currency: The currency we define in our SOB.
    Foreign currency
19. S.O.B:
    Put together information is called as Sets Of Books. It consists of  Cart of Accounts, Currency, Calender and Six mandatory Accounts.

20. What are Mandatory Accounts:

Mandatory Account    Usage    Acct Type
Retained Earnings    Last Year closing balances C/F(carry forward) to current year balance    Ownership
Translation Adj Acct    When the currency conversion takes place the difference amt is stored in this acct    Asset/liability
Suspense Account    The variation of credit and debit amounts is suspense acct    Asset/liability
Rounding Difference Acct    The difference amt after rounding the amount is posted to this account.    Expense/Revenue
Net Income Acct    Surplus of profit and loss account.    Ownership
No budget and No posting
Reserve for Encumbrance    Planning for reserving some amount(budget)    ownership
21. States of Periods.
    Open, Close, Future Entry, Permanently closed.
22. What is Journal?
    A journal is a form in which we enter the  business transactions.
23. What are the Balance Types?
    Acutal, Budget, Encumbrance.
24.  Categories of Journals.
⦁    Batch Journal.
⦁    Source Journal
⦁    Statistical Journal
⦁    Suspense Journal
⦁    Encumbrance Journal
⦁    Reverse Journal
⦁    Tax Journal
⦁    Recurring Journal
⦁    Standard  Recurring Journal.
⦁    Formula Recurring Journal.
⦁    Skelton Recurring Journal.
25.    Batch Journal:
A group of common journals is called as a Batch
26. Source Journal:
    A source journal is a journal where we can get the journal information from other modules.
27. Statistical Journal:
    Statistical journal entries do not require balanced debit and credits. Here we use ratios to calculate amounts.

28. Suspense Journal:
    When the debit amount and credit amount are not equal in the journal entry then the deficit amount is added to suspense account and such types of journals are called as suspense journals.
29 Encumbrance Journal:
    For funding budgets we have to enter the encumberance journals. Using this amount we can perform the actual expenses. The part of the budget we reserve is called as reserve for encumberance. The journals involving this budget are called as encumbrance journals.
30. Reverse Journal:
    We cannot alter the posted journals. We can only post additional journals which contain reverse to that of credit and debit amounts of the original journal. This types of method is called as reverse journal.
31. Tax Journal:
    The tax journals will calculate the tax on the credit and debit amounts in the journal depending on the tax information.
32. Inter-company Journal:
    If multiple companies in our enterprise share the same SOB then we can automatically balance inter-company journals. Here we define intercompnay accounts for different combinations of sources, category and balancing segment value.
32. Recurring Journals:
    Journals which will be repeated automatically are called as Recurring journals.
The advantage of recurring journal is one journal can be posted in each and every month without creating each and every time.
    There are three types of recurring journals.
Standard R.J: Where we know the fixed amount and account information.
Formula R.J: Here we may or may not know the actual information. We calculate the amounts depending on a formula. In formula block first field should be “enter”
Skelton Journal: It is raised when we know only account information but not amount information.
Control Total:
This is used to raise the journal with a fixed amount. The error message is not displayed at the saving time but it is displayed while posting the journal.
33. Mass Allocation(Allocation journal):
    Mass allocation is used to avoid the repeating entry of journals for different departments and it considers only actual accounts.
    when we are trying to allocate an amount for a period for a combination of segment values is called as Mass Allocation.
    Mass allocation formula:
        Cost pool * usage factor/total usage factor
Summary Accounts:
    Summary accounts store balances of multiple accounts. We need summary template to define a summary account.
Roll up groups:
    A roll up group is a collection of parent values for a given segment. This is used to provide a condition to the template.
Amount types:
    PTD (period-to-date)            YTD (year-to-date)
    PJTD (project-to-date)        QTD (Quarter-to-Date)   
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