| Answer these Financial Interview Questions [message #495522] |
Sun, 20 February 2011 07:47  |
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sachind2000
Messages: 2
Registered: January 2011
Location: PUNE
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Junior Member |
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Accounts Receivable
- Explain Quote to Cash Process with Accounting Entries
- What are the parameters of the Auto-Invoice Program?
- How is the GL Date derived by AutoInvoice process? Any set-ups?
- What is the use of the Default GL Date given in parameters of the Autoinvoice import program?
- Can it be set that the GL date is the Sale Order date or Ship to Date?
- Can multiple Sales Orders be invoiced under one Invoice?
- Can Adjustments be imported?
- Can Credit memo be imported and applied to the transactions via Autoinvoice?
- Grouping Rules and Line Ordering Rules
- Allow Overapplication option
- Invoice in Arrears
- Is it possible to import invoices of a specific Sales Order?
- Can closed AR Invoices be imported using AutoInvoice?
Payables
- Can Supplier numbering be set to automatic?
- P2P process along with accounting entries
- Allow Final Match option & Match PO Distribution level
- Substitute receipts and Unordered Receipts
- What is the difference between Recurring Journals and Recurring Invoices? What is the need for the Recurring Journals in GL when Recurring invoices exist in AP?
- How is a foreign currency invoice entered in AP?
- When does the Invoice price variance arise? What is the accounting entry?
- What is the concept of ERS?
General Ledger
- Set-ups required from GIS / Inter-company & the process
- Consolidation; What kind of consolidation have you worked on?
- Is there a need to have separate responsibility for MRC?
- Separate set of books required for translation?
- Can journals imported from sub-ledger, if unposted, be modified?
- What is the significance of 'Import journal references' option at journal source?
- What are the options available to import Exchange rates into Oracle Application?
- What kind of budgets have you worked on?
- How can FSG be generated to provide dynamic report i.e. current month, previous month and 2 months before balances for a given period?
7) What are AP Accounting periods? How are they different from GL periods? Are there adjusting periods in AP?
 Can a partial payment of Prepayment be done?
9) Can you hold partial payments? And how can that be achieved?
10) How can the Invoice distributions' which can be transferred to Fixed Assets be identified in AP? Is there is any field explains/indicates the same?
11) When you return goods to supplier (RTS) whether system created Debit Memo or Credit Memo? And what is the set-up required for the system to create the relevant document automatically?
12)Can accounting of Payment be done before accounting invoice?
13) Explain the concept of Proxima payment terms.
14) What are the various type of Distribution sets? And what is thier purpose?
Oracle Applications Financial Interview of a candidate with 6 years of experience
5)What is the way in which a Trial Balance of a company be loaded into Oracle; assuming that there are no sub-ledger transactions to be loaded?
6) Have you worked on Conversions? Which conversions have you worked on?
7) A company has acquired another company which has been in operations for last 10 years. How will you load the assets of that company? Assuming the life of an asset to be loaded in 20 years, Will the system calculate the depreciation since the start or only for the remaining life of asset?
What is the difference between Amortize and Expense depreciation?
9) What is deferred depreciation in FA?
10) What is the accounting entry when an asset is retired?
11) What are the mandatory columns while developing AP Interface?
12) Explain automatic offset in AP.
13) What is Autoaccounting in AR?
14) If the COA of the parent and child are difference then how will the consolidation be done?
15) Explain the various steps in the Consolidation process
16) What are the two major differences between Revaluation and consolidation?
14) Can you translate the balances of SOB in GBP currencies into multiple currencies or only in one different currency?
15) I have a requirement where during the consolidation into USD (from GBP books) I want use two different exchange rates for two consolidations. Child SOB is same but the Parent SOB's are different. How can this be done?
15a) When we run the translation we can give only one rate type, then how can we run it for two different exchange rates?
16) What is the difference between realized gain/loss and unrealized gain /loss?
17) I have requirement where the Invoice given by supplier is in USD, but the payment can be done in GBP. Is it possible in AP?
17a) If there is any work-around, explain me the work around.
18) In IExpenses, there are two kind of approval/types approvals, what are they?
19) There is employee X and employee Y (who is supervisor of X); when Y submits expenses how will the system ensures that this should not go to X even if he has the approval authority.
20) Have you used AME for IExpense? What is AME?
21) What is the significance of Iprocurement? Why is it important?
22) Can I Depreciate CIP ? Can I Retire CIP Asset? Can I Revalue CIP Asset?
23) What is Auto-Accounting in AR?
24) If the client is totally dependent on manual on Manual transactions then Is the auto-accounting rules Mandatory?
25) What is the significance of Line Ordering and Line Grouping? Explain.
26) In cash management, when I do reconciliation, the accounting entries are generated. Where are these accounting entries created?
27) Can you walk me through Order to Cash Cycle.
28) Explain the various entries in O2C
29) What is the value/Amount Oracle takes for COGS Account (while shipment is done)? What is the value the Oracle taken when the revenue account is created during AR Invoice creation?
30) What is the difference between Unidentified and Unapplied Receipts?
31) In Purchasing and Inventory there are two type of Items - Inventory and Expense Item. Expense item can further divided into two - what are they?
32) For expense items I want the accounting to flow in the same way as Inventory item. What set-up needs to be done to achieve this?
33) What are the pre-requisites for an AP Invoice line to move to FA module?
34) Why do you define the pro-rate calendar in FA?
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