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1.

What is journal, how many types of journal?

Journals it is used to record the business transaction it contains debit and credit
lines always debit must be equal to credit. Types of journals are Suspense Journal
or Unbalanced Journal, Recurring Journals and Reversal journals.

1.

P2P Process & O2C Process

2.

P2P process start with

Requisitions RFQQuotationsAnalysisPOReceivingInvoicesPayment.

1.

B. O2C processing four high-level processes i.e. Order, Invoices,

Recognize the COGS and Cash Receipt.
Sales orderBook OderRelease the OrderConfirm the OrderClose the
OrderImport InvoicePrint the InvoiceRevenue RecognitionDefer the Cost of
Goods enter ReceiptApply the Receipt.

1.

What is Translations & Revaluation and which level its

working?
Translation: It is used to translate functional currency balances into foreign
currency balances at the account level
Revaluation: It is used identify the unrealized gain or loss .which is occurring
on the currency fluctuation.
Example:
On 01-Dec-2009
-Functional Currency is USD
-Foreign Currency is INR.
-Conversion Rate is 2.
-Created invoice for 100 INR, validated and accounted. Not Paid.
As per the above journal lines on 01-Dec-2009, customer is liable to pay 200 USD
to the supplier.
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-End of the period, conversion rate has been changed to 2.5.

-So customer's liability will get increased to 250 USD(100*2.5).
-So customer suppose to pay 250 USD instead of 200 USD to the supplier.
-This is the true liability at the end of the period and this need to be reflected in
customer's General Ledger. Loss 50 USD should be populated in Loss account.
-Revaluation adjusts these amounts and keeps gain/loss amounts in Unrealized
Gain/Loss accounts defined in Revaluation window.

1.

What is Security Rules and Cross validation Rules?

2.

It is used to restrict the users from entering the segments. It will

work at the responsibility level.

3.

It is used to restrict the end users from entering the code

combinations. It will work at structure level

What is Dynamic Insertion?

In GL,
you can dynamically create new account code combinations when entering data
by enabling dynamic insertion in the Key Flexfield Segments window. The
alternative method for this is, you can require all accounts to be define manually
in the Accounts Combinations window.
Points to Remember:
-Dynamic instertion can be enabled or disabled at any time.
-You can define cross validation rules to prevent incorrect account combinations
from being created by dynamic insertion.
-If you are defining an Accounting Flexfield for Oracle Projects, you must define
your segment with the Allow Dynamic Inserts option set to Yes.

1.

Difference between Standard Accrual and Standard Cash?

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Standard Accrual
In case of Standard Accrual, Invoice and Payment Accounting will be there.
Reason: Transaction happens in two phases.
1)Order goods and receive goods(Create PO, Create Receipt, Create Invoice and
account it)
2)Pay the amount for received goods within due time set by the supplier( Pay the
invoice and account it)
Since you are not paying the amount immediately, you need to keep track of the
amount needs to pay to the supplier after phase one. You maintain this amount in
LiabilityA/C(Cr). After second phase, you debit your LiabilityA/C and credit your
CachA/C which shows your cash flow from your organization to the supplier.
Standard Cash
In case of Standard Cash, only payment accounting will be there.
Reason: While purchasing an item you pay amount immediately to the supplier.
So you don't have any debt to the supplier to record. so there is nothing to record
in LiabiltyA/C.

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Below is a list of 25 Important questions that is asked in almost every financials technical interview
question. I have also included some of the functional questions that are asked.Answers are included.
Qns: What is Flex field? What are different types of Flex field?
Ans: Flex field is used to capture information of your Organisations.
Qns: Difference between KFF and DFF.
KFF
Unique identifier
Stored in segment Column
DFF
Is used to capture additional information
Stored in attribute Column
Qns: How many KFF are in GL. AP , AR.
Ans:
Module KFF
GL Accounting FF
AP No KFF
AR Sales tax Location FF
Territory Flexfield.
Qns: What is symbol of DFF in the Forms?
Ans: Square Bracket [ ].
Qns: What is structure of KFF in the Accounting Flexfields.
Ans: Company
Cost center
Account
Product

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Future use.
Qns: How many segments are in AFF.
Ans: max 30 segments and min two.
Qns: What are flexfield Qualifiers.
Ans: Flexfield Qualifiers is used to identify the segments. Various types of flexfield qualifiers are
listed below:
a) Balancing Segment Qualifier.
b) Cost Center segment Qualifier.
c) Natural Account Segment Qualifier.
d) Intercompany Segment Qualifier.
Qns: What is Dynamic Insertions?
Ans: u can create Code Combinations at run time.
Qns: In which table Code Cominations id is stored.
Ans: GL_CODE_COMBINATIONS.
Qns: In which table flex values are stored.
Ans: 1. fnd_ flex_Values
2. fnd_ flex_Values_tl
Qns: 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.
a) Chart Of Accounts
b) Currency
c) Calendar.
Set of Books is stored in GL_SETS_OF_BOOKS
Qns: In which table Currency and Period Type Name are stored.
Currency FND_CURRENCIES
Period GL_PERIOD_STATUSES
Qns: In which table Segment Values are stored and concatenated values are stored.

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Ans: 1. GL_CODE_COMBINATIONS
2. GL_CODE_COMBINATIONS_KFV.
Qns: What are different types of Currency.
Ans: Functional Currency
Foreign currency.
Qns: What are different types of Calendars .
Ans: Different types of Calendars are listed below
a) Fiscal
b) Accounting
Qns: How will you attach set of Books to the Responsibility?
Ans: through Profile. GL SETS OF Books Name.
Qns: 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. System defined
2. User defined
Qns: What are different Profiles Level available in oracle apps.
Ans: Below are the Profiles Level available in oracle apps
1. Site(Lowest level)
2. Application
3. Responsibility
4. User.
Qns: Write Name of some Profile options.
Ans:
1. GL Sets of Books Name
2. GL sets of Books id
3. MO:Operating unit (multi org).
4. HR:User type.

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Qns: What is cycle of GL.?

Ans: In simple and layman words1. Open the period
2. Create Journal Enteries
3. Post the Journals.
Qns: In Which tables Journal entries created.
Ans: Important tables are1. Batch: GL_JE_BATCHES
2. Header: GL_JE_HEADERS
3. Lines : GL_JE_LINES
Qns: After Posting data goes in which tables.
Ans: GL_BALANCES.( Column Period_net_cr, period_net_dr).
Qns: What are Important tables in GL.
Ans:
1. GL_JE_BATCHES
2. GL_JE_HEADERS
3. GL_JE_LINES
4. GL_BALANCES
5. GL_SETS_OF_BOOKS
6. GL_CODE_COMBINATIONS
7. GL_PERIOD_STATUES
8. GL_INTERFACE
Qns: In which table Supplier informations is stored.
Ans: Supplier information can be found in following tables
1. PO_VENDORS
2. PO_VENDOR_SITES_ALL
3. PO_VENDOR_CONTACTS

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Qns: What is difference org_id and Organization_id.

Ans: Org_id is for operating unit and organization_id is for inventory organization

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