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NEW QUESTION # 20
A consulting services company is currently working on a business transformation project for your client that spans over 10 months. The total contract amount is 250000 USD. They have generated a revenue of 25000 USD and an Invoice of 10000 USD at the end of the first period.
The accounting entry for revenue is:
and accounting entry for invoice is:
What will be the accounting entry when you reclassify the billing offset balances in the first period?
- A. Dr Accounts Receivables 10000 -
Cr Revenue 10000 - B. Dr Deferred Revenue 10000 -
Cr Unbilled Receivables 10000 - C. Dr Accounts Receivables 10000 -
Cr Unbilled Receivables 10000 - D. Dr Unbilled Receivables 10000 -
Cr Accounts Receivables 10000
Answer: C
Explanation:
When you reclassify the billing offset balances in the first period, the accounting entry is:
Dr Accounts Receivables 10000 - Cr Unbilled Receivables 10000
This entry reduces the unbilled receivables balance and increases the accounts receivables balance by the invoice amount. This is because the invoice has been created and sent to the customer, and the billing offset account is no longer needed. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management
/20c/oapfm/manage-project-invoices.html#OAPFM2356091
NEW QUESTION # 21
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice. Quantity and unit price are then used to calculate the line total, then the total price of the invoice.
After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)
- A. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
- B. The project sends only the invoice header and invoice line description to Receivables, not the invoice distributions.
- C. The project sends only the invoice header to Receivables, not the invoice line description and distributions.
- D. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
Answer: B
Explanation:
When a project invoice is transferred or created in Receivables, the project sends only the invoice header and invoice line description to Receivables, not the invoice distributions. The invoice distributions contain the detailed information such as quantity, unit price, and line total. Therefore, the Receivables invoice does not show these details, but only shows a quantity of 1 and a unit price equal to the line total. Reference:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.
html#OAPFM2355931
NEW QUESTION # 22
Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets based on the construction-in-process cost of each asset. Identify the asset allocation method that you must use as the default method while configuring project types to meet this requirement. (Choose the best answer.)
- A. Current Cost
- B. Estimated Cost
- C. Standard Unit Cost
- D. Spread Evenly
- E. Actual Unit
Answer: A
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation- configuration-manage-project-types.html#OAPFM220111 Topic - Asset Cost Allocation Methods: Explained The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type.
You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level.
The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset
NEW QUESTION # 23
Which step within the functional setup manager helps you to move your verified setup data from the test environment to a production environment?
- A. Planning
- B. Opting In
- C. Deploying
- D. Setting Up
- E. Maintaining
Answer: C
Explanation:
The Deploying step within the functional setup manager helps you to move your verified setup data from the test environment to a production environment. This step allows you to export and import setup data across instances using spreadsheets or configuration packages. You can also compare and validate setup data across instances using reports and dashboards. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio- management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356111
NEW QUESTION # 24
Your organization wants to capture the project details for work order labor and equipment resource transactions as part of a project-driven supply chain solution.
Which expenditure type class is recommended for the expenditure types that need to be defined for these type of transactions?
- A. Supplier Invoice
- B. Inventory
- C. Usages
- D. Work In Process
Answer: D
Explanation:
The expenditure type class that is recommended for the expenditure types that need to be defined for work order labor and equipment resource transactions is Work In Process. This class indicates that the transactions are related to work orders that are performed as part of a project-driven supply chain solution. This class also allows the transactions to be processed by Oracle Fusion Manufacturing applications and transferred to Oracle Fusion Project Costing applications. Supplier Invoice is not a valid expenditure type class for work order labor and equipment resource transactions. This class indicates that the transactions are related to supplier invoices that are entered in Oracle Fusion Payables applications and transferred to Oracle Fusion Project Costing applications. Usages is not a valid expenditure type class for work order labor and equipment resource transactions. This class indicates that the transactions are related to material usages that are entered in Oracle Fusion Inventory Management applications and transferred to Oracle Fusion Project Costing applications. Inventory is not a valid expenditure type class for work order labor and equipment resource transactions. This class indicates that the transactions are related to inventory movements that are entered in Oracle Fusion Inventory Management applications and transferred to Oracle Fusion Project Costing applications. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm
/manage-project-costs.html#OAPFM2356311
NEW QUESTION # 25
Your customer has the following setups on the project plan type that they are using for their projects:
Use Task Planned Dates as Task Assignment Dates = Yes
Automatically Roll Up Task Planned Dates = Yes
Synchronize Task Transaction Dates with Planned Dates = No
With these setups in place, you perform the following actions:
1. Create a new subtask (Sub Task 1) with a start date of 15-Jun-2016 on the project that has as start date of
01-Jul-2016.
2. Create another new subtask (Sub Task 2) after the previous action is saved.
What would the correct behavior of the application be after these actions? (Choose the best answer.)
- A. After the creation and saving of Sub Task 1, Task Start Date would be changed to 01-Jul-2016 and Sub Task 2 would be created with 01-Jul-2016.
- B. After the creation of Sub Task 1, Project Start Date would be changed to 15-Jun-2016 and Sub Task 2 would be created with 15-Jun-2016.
- C. Project Start Date would remain unchanged as 01-Jul-2016 for both actions but the start dates on both subtasks would remain 15-Jun-2016.
- D. After the creation of Sub Task 1, Project Start Date would remain unchanged as 01-Jul-2016 and Sub Task 2 would be created with 15-Jun-2016.
Answer: B
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/manage-project-plan- tasks-and-task-assignments.html#OAPJF75076
NEW QUESTION # 26
Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?
- A. Project Templates
- B. Project Types
- C. Project Class Categories
- D. Expenditure Types
- E. Work Type
Answer: A,B,D
Explanation:
Rapid Implementation for Project Financial Management Applications allows you to configure some common setups for project costing and billing using predefined templates and spreadsheets. Some of the setups that can be configured using Rapid Implementation are expenditure types, project templates, and project types. Work types and project class categories are not part of Rapid Implementation. Reference: https://docs.oracle.com/en
/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.
html#OAPFM2355871
NEW QUESTION # 27
Which component of performance measures allows you to select the method that is used to measure accounts such as budget, forecast, and actual?
- A. Time Member
- B. Scenario Member
- C. Accounts Member
- D. Category Member
Answer: C
Explanation:
The Accounts Member component of performance measures allows you to select the method that is used to measure accounts such as budget, forecast, and actual. The Accounts Member component defines the account dimension member for the performance measure, which represents the financial data that is measured. You can also specify the aggregation rule and calculation method for the account dimension member. Reference:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-performance- reporting.html#OAPFM2356081
NEW QUESTION # 28
Using Oracle Time and Labor, your client wants to put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week.
What feature would you use to meet this requirement? (Choose the best answer.)
- A. time calculation rules
- B. project time validation rules
- C. time entry rules
- D. time audit rules
Answer: C
Explanation:
To put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week, you need to use time entry rules. Time entry rules allow you to define the conditions and actions for validating time entries based on various attributes such as hours, dates, projects, tasks, etc. You can also specify the error messages and severity levels for the time entry rules. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm
/manage-project-time-and-labor.html#OAPFM2355991
NEW QUESTION # 29
Which three file-based data imports are available for use in Oracle Project Portfolio Management Cloud?
- A. Project Billing Events
- B. Project Budgets
- C. Project Templates
- D. Project Tasks
- E. Capital Rate Schedule
Answer: A,B,D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oefpp/toc.htm
NEW QUESTION # 30
You are implementing Project Portfolio Management (PPM) for a professional services firm. The firm rents multiple buildings for its operations. At the end of each month, they review the rent expense for the month and want to allocate the rental cost to all the projects and tasks that are executed by associates in each of the buildings. The source amounts must be proportionally allocated to the tasks based on the raw costs of the tasks from the previous month. Considering that all these costs are in General Ledger, what three allocation setups should you complete in PPM? (Choose three.)
- A. Allocate to all eligible tasks and prorate the allocation by the total actual raw cost accrued for each task during the previous accounting period.
- B. Define allocation basis by using Actual Amounts with a period-to-date amount class.
- C. Allocate rental costs once each accounting period by using the "spread evenly" allocation method.
- D. Allocate rental costs once each accounting period by using the "full" allocation method.
- E. Define allocation basis by using Actual Amounts with a project-to-date amount class.
Answer: A,B,D
Explanation:
To allocate the rental cost to the projects and tasks based on the raw costs of the tasks from the previous month, you need to do the following:
* Allocate rental costs once each accounting period by using the "full" allocation method. This method allocates the entire source amount to the target tasks in one run.
* Allocate to all eligible tasks and prorate the allocation by the total actual raw cost accrued for each task during the previous accounting period. This ensures that the source amount is proportionally allocated to the tasks based on their relative raw costs.
* Define allocation basis by using Actual Amounts with a period-to-date amount class. This allows you to use the actual raw costs of the tasks as the basis for allocation and to use the amounts from the previous accounting period. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c
/oapfm/manage-project-costs.html#OAPFM2355951
NEW QUESTION # 31
Which component provides a human workflow service that handles all interactions with users or groups in business processes?
- A. Security Console
- B. Subledger Accounting
- C. BPM Worklist
- D. SOA Suite
Answer: C
Explanation:
The BPM Worklist component provides a human workflow service that handles all interactions with users or groups in business processes. The BPM Worklist allows users to view, act on, track, and administer workflow tasks that require their attention. Users can also delegate, escalate, or reassign tasks to other users or groups as needed. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate- project-financial-management.html#OAPFM2356171
NEW QUESTION # 32
Which three are project gate statuses? (Choose three.)
- A. Closed
- B. In Review
- C. Approve
- D. Draft
- E. Open
Answer: A,B,E
Explanation:
Project gate statuses are values that indicate the progress or completion of a project gate. A project gate is a checkpoint that marks the end of a phase or stage in a project lifecycle. Three of the project gate statuses are:
* Open: This status indicates that the project gate is not yet ready for review or approval.
* In Review: This status indicates that the project gate is under review or approval by the gate reviewers or approvers.
* Closed: This status indicates that the project gate has been reviewed or approved and the project can move to the next phase or stage. Approve and Draft are not project gate statuses, but actions that can be performed on a project gate. Approve is an action that allows a gate approver to approve a project gate and change its status to Closed. Draft is an action that allows a gate owner to create or edit a project gate and change its status to Open. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio- management/20c/oapfm/manage-project-execution.html#OAPFM2356251
NEW QUESTION # 33
Your organization has been using project class categories and codes for reporting purposes and is set up at the project level. You recently defined a new project type, Capital-Contract, and created new class categories named Build, Operate, and Transfer (BOT) and Build, Transfer, and Maintain (BTM), with class codes of Yes
/No. But on creation of a project, you are unable to associate these class categories and codes.
Identify two setups that are mandatory for these class categories and codes to be displayed. (Choose two.)
- A. Class categories should be assigned to project type.
- B. Class categories should be assigned to business unit.
- C. Class codes should be associated with a related set code.
- D. Class codes should be assigned to project unit.
Answer: A,C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation- configuration-manage-project-types.html#OAPFM360164 Topic - Associating Project Types and Class Categories: Examples Project classifications group your projects according to categories and codes that you define. When you associate project classifications with project types, the classification is available for selection on projects with that project type.
Use any of the following methods to associate class categories with project types:
* Add a classification to the project type definition
For each classification that you associate with the project type, you can enable the Assign to All Projects option to automatically add the classification to the project definition for all new projects with the project type. When this option is enabled, all projects with this project type must be assigned a class code for the class category.
* Add a project type to the class category definition
* Enable the Assign to all Project Types option on the class category definition
NEW QUESTION # 34
You want to create a few project roles so as to restrict access in the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (Choose two.)
- A. Project Team Member- Security based on Project Assignment
- B. Project Executive- Security based on Project Hierarchy
- C. Project Manager- Security based on Project Assignment
- D. Project Billing Specialist- Security based on Contract BU
- E. Project Accountant- Security based on BU for Assets, Expenditure BU for Costs and Contract BU for Revenue
Answer: A,C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/faser/implementing-security- in-oracle-fusion-project-portfolio-management.html#FASER1840867
NEW QUESTION # 35
Which two statements are true about a project in "Draft" status? (Choose two.)
- A. Project managers can view draft projects on the Project Manager Dashboard and use the projects for requirements planning.
- B. Team members can see the tasks from draft projects on the Team Member Dashboard or in the My Work area.
- C. Project managers can neither view draft projects on the Project Manager Dashboard nor use the projects for requirements planning.
- D. Team members cannot see the tasks from draft projects on the Team Member Dashboard or in the My Work area.
Answer: A,D
Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPEM/OAPEM1122096.htm The following table lists the project statuses and what you can do with projects in that status.
Project Status
What you can do?
Draft
* Project managers can view draft projects in the Project Manager Dashboard and use the projects for requirements planning.
* Team members can't see the tasks from draft projects on the Team Member Dashboard or in the My Work area.
Active
* Project managers can view active projects in the Project Manager Dashboard and use the projects for requirements planning, project execution, and reporting.
* Team members can view task assignments on active projects on the Team Member Dashboard and My Work area.
Pending Close
* Project managers can view pending projects in the Project Manager Dashboard and use the projects for project tracking, and reporting.
* Team members can view task assignments on pending projects on the Team Member Dashboard and My Work area.
Submitted
* Project managers can view submitted projects in the Project Manager Dashboard and use the projects for project tracking, and reporting.
* Team members can view task assignments on submitted projects on the Team Member Dashboard and My Work area Closed
* Project managers can't view closed projects in the Project Manager Dashboard or use the projects for requirements planning, project execution, and reporting.
* Team members can't view tasks of closed projects on the Team Member Dashboard or in the My Work area.
NEW QUESTION # 36
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