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Oracle Financials Interview Questions
Q. What is the use of GL_Interface?
A. Gl_Interface is the primary interface table of General ledger. It acts as an interface between data originating from other modules such as AP,AR, Legacy data and the Gl Base tables.
Q. How many Key Flex Fields are there in General Ledger?
A. One. Accounting Key Flex Field.
Q. What is the process of kicking Journal Import from PL/SQL?
A. Using the procedure FND_SUBMIT.SUBMIT_REQUEST.
Q. What is MRC (Multiple Reporting Currency)?
A. Multiple Reporting Currency is a feature used to maintain transactions and account balances in multiple currencies. MRC is implemented at the transaction level where as Currency Translation is implemented in the Account Balances level. MRC in functionality replaces the usage of DUAL Currency and Translation processes in Oracle GL module.
Q. What is FSG (Financial Statement Generator)?
A. Financial statement generator feature helps us to generate reports such as balance sheets and income statements with out programming. It also provides a high degree of control on the rows, columns, contents and calculations on the report. Different components such as row set, column set, content set, row order, display set have to be defined before a statement is generated, of which row set and column set are mandatory.
Q. What is a Value Set?
A. Value set is a collection of values that could be represented by a segment.
Q. What is Security Rule?
A. Security Rules are defined to control the access of a flexfield segment value (Financial information) at a responsibility level.
Q. What are the Various Interfaces Conversions that you have done?
A. Journal Import, Budget Upload, Daily Rate Conversions.
Q. How do we create Set of Books?
A. The creation of Set of books involves four basic steps.
i) Define Functional Currency
ii) Define Calendar
iii) Define the Chart of Accounts
iv) Enter code combination of Retained Earnings account.
Q. What are Cross Validation & ADI?
A. CVS ΓΆβ.¬β.. Cross validate segments ΓΆβ.¬β.. Allows only valid code combinations.
ADI ΓΆβ.¬β.. Allow dynamic inserts. ΓΆβ.¬β.. Allows any code combination irrespective of validity.
ADI would prevail if both of CVS and ADI are checked.
Q. What are various Reports and Forms you have done?
A. Developed FSG Reports in GL.
Q. How many types of Budgets are there?
A. Two Types. Expenditure Budgets, Revenue Budgets.
Q. What is Translation?
A. Translation is a process used to convert functional currency to other reporting currencies at the account balances level.
Q. What is Journal Import?
A. Journal import is an interface used to bring journal entries from legacy systems and other modules into the General Ledger.(Specifically Journal Import gets entries from legacy data into the GL base tables. The tables populated during journal Import are GL_JE_BATCHES, GL_JE_HEADERS, GL_JE_LINES, GL_IMPORT_REFERENCES etc.
Q. What are the Base Tables and Interface Tables for Journal Import?
A. Interface Tables: GL_INTERFACE, GL_BUDGET_INTERFACE
Base Tables: GL_JE_BATCHES, GL_JE_HEADERS, GL_JE_LINES,
GL_SETS_OF_BOOKS, GL_DAILY_RATES, GL_BALANCES,
GL_PERIODS, GL_PERIOD_SETS, GL_CODE_COMBINATIONS
Q. What is Revaluation?
A. It is process used to revalue assets and liabilities denominated in foreign currency into functional currency based on period end exchange rate we specify. Unrealized gains/losses are resulted because of exchange rate fluctuations which are recorded in unrealized gain/loss account in GL.
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