Oracle Financials Interview Questions and Answers

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1. What is the report used to identify duplicate suppliers? 

Ans:

In order to find out duplicate supplier, SUPPLIER AUDIT REPORT is runned

2. What are the benefits of flexfields?

Ans:

• Configure applications to support your own accounting, product and other codes.
• Enable the construction of intelligent keys.
• Configure application to capture additional data.
• Use the application to validate values and value combinations entered by the user.
• Support multiple flexfield structures depending on data context.

3. What are the types of flexfields?

Ans:

1. 1. Key flexfield
2. 2. Descriptive flexfield

4. What is a key flexfield qualifier?

Ans:

A qualifier is a label attached to a particular key flexfield segment so it can be located by the application requiring its information. A key flexfield qualifier can be of 2 types:

1. 1. Flexfield qualifiers identify a segment in a flexfield.
2. 2. Segment qualifiers identify a value set in a segment.

5. What are the types of Flexfield Qualifier

Ans:

NATURAL ACCOUNT : Each Accounting Flexfield structure must contain only one natural account segment. When setting up the values, you will indicate the type of account as Asset, Liability, Owner’s Equity, Revenue, or Expense.

6. What is the implication of dynamic insert?

Ans:

Dynamic Insertion is a feature which controls whether the user can enter new account code combinations from any form/window. If this feature is disabled, then the user cannot input new account code combinations from any window/form.

Oracle applications use a particular form (called a Combination form.for directly entering the new code combinations. Users can enter new account code combinations only through this form if Dynamic Insertion is disabled.

7. What are Cross Validating Values

Ans:

For key flexfields with multiple segments, we can define rules to cross check value combinations entered with in the key flexfield segments. This option is referred as Cross Validation rules.

8. What are the types of Value Sets

Ans:

1. 1. None : A value set of the type None has no list of approved values associated with it. A None value set performs only minimal checking of, for example, data type and length.
2. 2. Independent : Independent type value sets perform basic checking but also check a value entered against the list of approved values you define.
3. 3. Dependent : A dependent value set is associated with an independent value set. Dependent value sets ensure that all dependent value are associated with a value in the related independent value set.
4. 4. Table : Table value sets obtain their lists of approved values from existing applications tables. When defining your table value set, you specify a SQL query to retrieve all the approved values from the table.
5. 5. Special : This specialized value set provides another flexfield as a value set for a single segment.
6. 6. Pair : This specialized value set provides a range flexfield as a value set for a pair of segments.
7. 7. Translated Independent : This works similar to Independent type. However, a Translated Independent value set can contain display values that are translated into different languages.
8. 8. Translated Dependent : This works similar to Dependent type. However, a Translated Dependent value set can contain display values that are translated into different languages.

9. How many segments are there in the key flexfield(s.in oracle general ledger?

Ans:

Oracle GL Key flexfield can have 15 columns each representing a segment. However, the segments type can be:

• Cost Center segment
• Balancing segment
• Account segment
• Intercompany segment

10. On which entity is a security rule applicable?

Ans:

It’s a feature of Key flexfield, applicable on Value Sets.

11. On which entity is the cross-validation rule applicable?

Ans:

It’s a feature of Key flexfield, applicable on Value Sets.

12. What are the important considerations in inventory control?

Ans:

For inventory control to work at its best a store must consider the costs of acquisition, carrying, ordering, and stock-out. The store must also look at its reordering system, its budgeting for inventory, insurance and forecasted demand.

13. Will the changes made in a Workday calendar comes into effect after saving?

Ans:

No. The changes made into a Workday calendar will come into effect only after Building the Calendar.

14. What is a key flexfields qualifier?

Ans:

A qualifier is a label attached to a particular key flexfield segment so it can be located by the application requiring its information. A key flexfield qualifier can be of 2 types:

1.  1. Flexfield qualifiers identify a segment in a flexfield.
2.  2. Segment qualifiers identify a value set in a segment.

15. How many segments are in AFF.

Ans:

max 30 segments and min two.

16. Segment qualifier.

Ans:

• ACCOUNT TYPE: Asset, Liability, Owner’s Equity, Revenue, Expense, Budgetary Dr, and Budgetary Cr.
• Budget entry allowed (Yes/No).
• Posting allowed (Yes/No).
• Control Account Reconciliation Flag: Available for specific countries.

17. How different weekly offs can be assigned to different shifts without doing it manually?

Ans:

Suppose Monday is the Calendar Start day and we want Thursday as weekly off for 1st shift and Friday for 2nd shift, enter the ‘Workday Pattern’ for 1st as 3 On 1 Off and 3 On 0 Off. This means that Monday, Tuesday and Wednesday are working days, Thursday is off and Friday, Saturday and Sunday are again working days, for any week for 1st shift. And for 2nd shift enter the Workday Pattern as 4 on 1 off and 2 on 0 off.

18. What is an Organization?

Ans:

An Organization is an inventory location with its own Set of Books

19. What is a Sub inventory?

Ans:

A Sub inventory is used when two physical inventory locations share the same Set of Books, Costing Method, Workday Calendar, but different list of items.

20. On which entity is the cross validation rule applicable?

Ans:

It’s a feature of Key flexfield, applicable on Value Sets.

21. What is a period in Oracle GL?

Ans:

A Period corresponds to a time span within which transactions are entered prior to finalizing, otherwise called as close of the period.

22. What is Oracle Apps (ERP)?

Ans:

ERP stands for organization useful resource Planning. A made from Oracle India Pvt. Ltd. Because the identify suggests corporation resource Planning. Company approach a firm/group. Resource manner available supply of wealth in corporation and Planning way how one can keep each day resource. As a consequence briefly to facilitate large corporations, organizations Oracle manufacturer have created tremendous application recognized in the category of ERP 

23. What are cycles of GL, AP, and AR?

Ans:

In general, GL AP and AR consist of: Structure Phase – Defines the process flows and configuration for the system and Conduct business process and data mapping workshops. Construct Phase – Contains all of the configuration activities Transition Phase – Executes system test Deploy Phase – Migrates database to customer environment For Free Demo Contact PH : (720)463- 3800 For Details : folkstrain.com

24. What is Security Rules and Cross validation Rules?

Ans:

It is used to restrict the users from entering the segments. It will work at the responsibility level. It is used to restrict the end users from entering the code combinations.

25. What are the steps in attaching reports with oracle applications?

Ans:

There are certain steps that you need to follow systematically for attaching the reports along with oracle application.

1. 1. Designing the report.
2. 2. Generating executable file related with report.
3. 3. Moving executable and source files to the appropriate folder of the product.
4. 4. Registering the report in the form of concurrent executable.
5. 5. Defining concurrent program for registered that are executable.
6. 6. Adding concurrent program for requesting group of responsibility.

26. Differentiate Apps schema from other schemas?

Ans:

Apps schema is the one that comprises of only synonyms and there is no possibility of creating tables in it. Other schema comprises of tables and objects in it and allows the creation of tables as well as for providing grants to tables.

27. Define custom top and its purpose.

Ans:

Custom top can be defined as the customer top which is created exclusively for customers. According to the requirement of the client many number of customer tops can be made. Custom top is made used for the purpose of storing components, which are developed as well as customized. At the time when the oracle corporation applies patches, every module other than custom top are overridden.

28. Which are the kinds of report triggers?

Ans:

There are mainly five different kinds of report triggers available. They are

1. 1. Before report
2. 2. After report
3. 3. Before parameter form
4. 4. After parameter form
5. 5. Between pages

29. What is the firing sequence related with report triggers?

Ans:

The sequence related with firing is as follows before parameter form, after parameter form, before the report, between pages and after report.

30. What is the purpose of cursors in PL/SQL?

Ans:

The cursor can be made used for the purpose of handling various row – query associated with PL/SQL. Implicit cursors are available for the purpose of handling all the queries related with oracle. The memory spaces that are unnamed are used by oracle for storing the data that can be used with implicit cursors.

31. Define record group?

Ans:

Record group can be considered as a concept used for the purpose of holding sql query that is associated with list related with values. Record group consists of static data and also can access data inside tables of database through sql queries.

32. Is there any possibility for having custom schema at any time when it is required?

Ans:

You have the provision for having custom schema at the time of creating table.

33. Define application top?

Ans:

Application tops are found when we are connecting to server. There are two types of application tops available they are product top and custom top. Product top is the kind of top that is built in default by manufacturer. Custom top can be chosen by the client, and any number of custom tops can be created as per the requirement of the client.

34. What is the concurrent program?

Ans:

Concurrent programs are instances that need to be executed along with incompatibles and parameters.

35. What is a token?

Ans:

Token is used for transferring values towards report builder. Tokens are usually not case – sensitive.

36. In which table Supplier information’s is stored.

Ans:

Supplier information can be found in following tables

• PO_VENDORS
• PO_VENDOR_SITES_ALL
• PO_VENDOR_CONTACTS.

37. What are Important tables in GL.

Ans:

1. 1. GL_JE_BATCHES
2. 2. GL_JE_HEADERS
3. 3. GL_JE_LINES
4. 4. GL_BALANCES
5. 5. GL_SETS_OF_BOOKS
6. 6. GL_CODE_COMBINATIONS
7. 7. GL_PERIOD_STATUES
8. 8. GL_INTERFACE

38. After Posting data goes in which tables.

Ans:

GL_BALANCES.( Column Period_net_cr, period_net_dr).

39. In Which tables Journal entries created.

Ans:

Important tables are-

• Batch : GL_JE_BATCHES
• Header : GL_JE_HEADERS
• Lines : GL_JE_LINES

40. What is cycle of GL?

Ans:

In simple and layman words-

1. 1. Open the period
2. 2. Create Journal Enteries
3. 3. Post the Journals.

41. Write Name of some Profile options.

Ans:

1. 1. GL Sets of Books Name
2. 2. GL sets of Books id
3. 3. MO: Operating unit (multi org).
4. 4. HR: User type.

42. What are different Profiles Level available in oracle apps.

Ans:

Below are the Profiles Level available in oracle apps

• Site(Lowest level)
• Application
• Responsibility
• User

43. What is Profile and what are different types of Profiles.

Ans:

Profile: Profile is the changeable option that affects the way your application runs. There are two types of profile.

1. 1. System defined
2. 2. User defined

44. How will you attach set of Books to the Responsibility?

Ans:

through Profile. GL SETS OF Books Name.

45. What are different types of Calendars.

Ans:

Different types of Calendars are listed below

1. 1. Fiscal
2. 2. Accounting

46. What are different types of Currency.

Ans:

• Functional Currency
• Foreign currency.

47. In which table Segment Values are stored and concatenated values are stored.

Ans:

1. 1. GL_CODE_COMBINATIONS
2. 2. GL_CODE_COMBINATIONS_KFV.

48. In which table Currency and Period Type Name are stored.

Ans:

1. 1. Currency – FND_CURRENCIES
2. 2. Period – GL_PERIOD_STATUSES

49. What is set of Books and in which table set of book is stored.

Ans:

Set of Books is a Financial Reporting entity which Consist of three C.

• Chart Of Accounts
• Currency
• Calendar.

50. In which table flex values are stored.

Ans:

1. 1. fnd_ flex_Values
2. 2. fnd_ flex_Values_tl

51. In which table Code Cominations id is stored.

Ans:

GL_CODE_COMBINATIONS.

52. How to delete a segment value?

Ans:

There is no supported way to delete a segment value. Segment values can only be disabled not deleted.

53. Is there a way to load values for a specific segment outside of the form? 

Ans:

iSetup is the Oracle product that provides supported APIs to load values into Oracle Applications flexfields.To load code combinations ADI may be used. Uploading zero amount journals will create new code combinations.

54. What is average Balance In Oracle Financials?

Ans:

The Average Balance feature of Oracle General Ledger provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both standard and average balances. Average balance processing is particularly important for financial institutions, since average balance sheets are required, in addition to standard balance sheets, by many regulatory agencies. Many organizations also use average balances for internal management reporting and Profitability analysis.

55. Is there a limit to the number of periods in a budget year or how many years a budget can span?

Ans:

One can define budgetary control for n number of years however, one year can have maximum of 60 fiscal periods7   

56. What is a funding budget?

Ans:

A budget against which accounting transactions are checked for available funds when budgetary control is enable for your set of books.

57. What is planning budget

Ans:

The plan for the future expenses is planning budget. It is a paper work. There is no funds requirement. It does not require journals. There are no restrictions for estimating of funds.

58. What are the interface tables in General Ledger ?

Ans:

1. 1. GL_BUDGET_INTERFACE
2. 2. GL_DAILY_RATES_INTERFACE
3. 3. GL_IEA_INTERFACE
4. 4. GL_INTERFACE
5. 5. GL_INTERFACE_CONTROL
6. 6. GL_INTERFACE_HISTORY 

59. What is Journal Import?

Ans:

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

60. What is the use of GL_Interface?

Ans:

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.

61. What is Actual Flag?

Ans:

Actual flag represents the Journal type.

1. 1. A – Actual
2. 2. B – Budget
3. 3. E – Encumbrance.

62. What is Encumbrance?

Ans:

It is a process of Reservation of funds for anticipated expenditure from a budget. Encumbrance integrates GL, Purchasing and Payables modules.

63. How many KFF are in GL. AP , AR.

Ans:

• Module KFF
• GL Accounting FF
• AP No KFF
• AR Sales tax Location FF
• Territory Flexfield.

64. What is symbol of DFF in the Forms?

Ans:

Square Bracket [ ].

65. What is structure of KFF in the Accounting Flexfields.

Ans:

1. 1. Company
2. 2. Cost center
3. 3. Account
4. 4. Product Future use.