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Preparations of 1z0-1057-20 Exam 2021 Project Financials Management Cloud Unlimited 92 Questions
NEW QUESTION 54
Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost and Actual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)
- A. Cost
- B. Manual Entry
- C. Remaining Plan
- D. Effort
Answer: A
Explanation:
Explanation
Reference https://ppm-help.saas.hpe.com/en/9.42/Help/Content/UG/PjMUG/view_pj_cost_data_costtab.htm Below is an example of the Financial Summary view on the Cost tab of the Project Overview page.
https://admhelp.microfocus.com/ppm/en/9.42/Help/Content/UG/PjMUG/images/ProjectOverviewPage_CostTab
NEW QUESTION 55
You configure one OTBI using Project Cross Subject Area Analysis Real Time. You notice that all measures (Budget, Forecast, Cost, Commitments, Revenue, and Invoice) are not available for Bill-To-Customer and Contract and Contract Line dimensions. Identify the reason for this behavior. (Choose the best answer.)
- A. The Contract and Contract Line dimensions apply only to Invoice measures.
- B. The Bill-To-Customer dimension applies to Invoice measures, and the Contract and Contract Line dimensions apply to Revenue and Invoice measures.
- C. The Bill-To-Customer dimension applies only to Invoice measures, but the Contract and Contract Line dimensions do not apply to Revenue and Invoice measures.
- D. The Bill-To-Customer dimension applies only to Revenue and Invoice measures.
- E. The Bill-To-Customer dimension does not apply to Invoice measures, but the Contract and Contract Line dimensions apply only to Revenue and Invoice measures.
Answer: B
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/faopm/subjectareas.html#Projects_ Analyze real-time information on project performance, including budgets, forecasts, costs, commitments, revenue, and invoices.
This subject area analysis allows cross subject area analysis between Funding, Invoices, Revenue, Budget, forecasts, Costs areas.
NEW QUESTION 56
Your customer accounts revenue based on, product class category. Because all your customer's projects are funded by private and government institutions, they decide to classify all projects based on their funding source to accurately report on revenue in General Ledger. Accordingly, you create a new class category
"Funding Source" and assign it to all projects. However, you notice that the accounting is still happening based on product class category. Identify the reason for this problem. (Choose the best answer.)
- A. Funding source class category is assigned to all project types.
- B. Product class category is not enabled for "available as accounting source".
- C. Funding source class category is enabled for "available as accounting source".
- D. Funding source class category is not enabled for "available as accounting source".
Answer: D
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration Topic - Manage Project Class Categories Setting Up Class Categories: Points to Consider Available as Accounting Source This option indicates if the class category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.
Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting.
To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.
NEW QUESTION 57
Your customer wants to assign the Net 45 payment term to all sets except for the corporate business unit specific set, which is assigned the Net 15 payment term. At transaction entry, the list of values for payment terms consists of only one set of data: the set that is assigned to the transaction's business unit.
Which reference data sharing method would you set up to meet the customer requirement? (Choose the best answer.)
- A. assignment to multiple sets; common values allowed
- B. assignment to one set only; no common values allowed
- C. assignment to multiple sets; no common values allowed
- D. assignment to one set only with common values
Answer: C
Explanation:
Explanation
Reference
https://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-enterprise-structures.html#FACIA4 Reference Data Sharing Methods Variations exist in the methods used to share data in reference data sets across different types of objects. The following list identifies the methods:
Assignment to one set only, no common values allowed. This method is the simplest form of sharing reference data that allows assigning a reference data object instance to one and only one set. For example, Asset Prorate Conventions are defined and assigned to only one reference data set. This set can be shared across multiple asset books, but all the values are contained only in this one set.
Assignment to one set only, with common values. This method is the most commonly used method of sharing reference data that allows defining reference data object instance across all sets. For example, Receivables Transaction Types are assigned to a common set that is available to all the business units. You need not explicitly assign the transaction types to each business unit. In addition, you can assign a business unit-specific set of transaction types. At transaction entry, the list of values for transaction types includes the following:
Transaction types from the set assigned to the business unit.
Transaction types assigned to the common set that is shared across all business units.
Assignment to multiple sets, no common values allowed. The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use this method. It means that each payment term can be assigned to one or more than one set. For example, you assign the payment term Net 30 to several sets but assign Net 15 to a set specific only to your business unit. At transaction entry, the list of values for payment terms consists of only the set that is assigned to the transaction's business unit.
Note: Oracle Fusion Applications contains a reference data set called Enterprise. Define any reference data that affects your entire enterprise in this set. Also update the data set going forward as you create new reference data items.
NEW QUESTION 58
Which product offering enables non-exclusive relationships between multiple projects and tasks with contracts and contract lines? (Choose the best answer.)
- A. Contract Team Connect
- B. Project Contract-based costing
- C. Project Contract-based billing
- D. Project Contract Collection Center
Answer: C
Explanation:
Explanation
Reference
http://www.oracle.com/us/products/applications/fusion/fusion-proj-port-mang-solut-brief-173079.pdf (Page 2) Flexible Contract-Based Billing Traditional contract and billing systems enforce a rigid relationship between a project and a funding agreement, which can constrain project setup and execution. Oracle Fusion Project Portfolio Management provides a highly flexible approach to project contract-based billing via a non-exclusive relationship between multiple projects and tasks with contracts and contract lines. This means that you will have full control over defining contracts, rates and limits, and when and how to recognize revenue and generate invoices while segregating the planning and execution of your projects.
NEW QUESTION 59
You create a project schedule with a Shifts element. Identify two more elements that can be part of a project schedule. (Choose two.)
- A. Workday Patterns
- B. Time Off
- C. Exceptions
- D. Accounting Calendar
- E. Expenditure Type
Answer: A,C
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1192914.htm Topic - Creating Calendars for Projects and Resources: Procedure Project Schedules are used as a base for project and resource calendars in Project Execution Management applications. The smallest scheduling unit is a day. For example, you can define the number of hours in a day but, you can't schedule work for a specific time of the day.
The following are the elements of a schedule:
* Shifts
* Workday patterns
* Exceptions
NEW QUESTION 60
Your customer wants to generate accounting based on project information associated with the transaction for all subledger transactions. Identify three subledger applications for which the project source is available for deriving accounts when configuring subledger accounting. (Choose three.)
- A. Payables
- B. Receipt Accounting
- C. Fixed Asset
- D. Purchasing
Answer: A,B,D
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-costing-configuration-de Topic - Deriving Projects-Related Accounts
NEW QUESTION 61
Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand. (Choose two.)
- A. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.
- B. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
- C. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.
- D. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTE hours, if project duration is used as the basis for viewing labor demand.
Answer: B,C
Explanation:
Explanation
Reference
https://docs.oracle.com/cloud/farel10/projectcs_gs/OAPEM/OAPEM1461017.htm#OAPEM1313472 Project Labor Demand: How It s Calculated Project executives want to track the labor demand in projects in their organization. The Project Hierarchy Viewer provides project executives a hierarchical view of the enterprise project structure (EPS) along with the labor demand in terms of full-time equivalent (FTE).
Settings That Affect Project Labor Demand
Project application administrators must do the following to set up how project labor demand is calculated:
* Organize projects into hierarchical groups on the Manage Enterprise Project Structure page.
* Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.
Note: You can choose to view labor demand annually instead of quarterly. The Project Hierarchy Viewer uses the current date to determine which year or quarter to display.
How Project Labor Demand Is Calculated
The Project Hierarchy Viewer calculates project labor demand in the following manner:
* Spreads the allocation hours from the Manage Project Resources page evenly over the days that the resources are allocated to the project.
* Divides the quarterly project allocation hours by the quarterly FTE hours to get the labor demand.
* Rolls up the quarterly and annual labor demand up the hierarchy.
NEW QUESTION 62
Your administrator creates maintenance conditions on the Maintain Project Enterprise Labor Resources page.
An HCM person is included in a condition with a process order value of 1 and, additionally, there are three other conditions, all with a process order value of 10. Identify two correct statements about the Maintain Project Enterprise Labor Resources process as it relates to process order values. (Choose two.)
- A. The process creates a resource by using the condition with a process order value of 1 but does not create more than one resource for the same person even if subsequent conditions apply to the person.
- B. For the three conditions that have the same process order value of 10, the records are processed in ascending alphabetic order
- C. The process creates a resource by using the conditions with a process order value of 10 but does not create more than one resource for the same person even if subsequent conditions apply to the person.
- D. For the three conditions that have the same process order value of 10, the records are processed in ascending numeric order based on the condition name.
Answer: A,B
NEW QUESTION 63
Your business user has created a purchase order (PO) that has the following attributes:
Accrue at Receipt = Yes
Matching Option = 2 way
Receipt Close Tolerance = 100%
After approval, the PO is closed for receiving without creating a receipt. An AP invoice is created by matching to the PO. The user now runs Create Accounting for Receiving Transactions and then the "Import and Process Cost transactions" ESS (Enterprise Scheduler Service) job using the Transaction Source parameter as "Oracle Payables". The user notices that there is no cost transferred to the projects. Identify two reasons for this problem. (Choose two.)
- A. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to project by payables.
- B. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to projects only if there are accounted receipt lines.
- C. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to YES, cost is transferred to projects by Cost Management and not by Payables.
- D. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to NO, cost is transferred to projects by receipt accounting.
Answer: B,C
NEW QUESTION 64
In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)
- A. common costs on the project/task
- B. expenditure type exclusions on the Capitalized Interest rate name
- C. expenditure items whose costs are applied to a single asset or multiple assets
- D. expenditure items whose cost spreads across multiple assets that are capitalized
- E. expenditure type exclusions on the Capitalized Interest rate schedules
Answer: C
Explanation:
Explanation
Reference
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_988B43C997365159E040D30A68813832
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49622/F1125377AN61D92.htm
NEW QUESTION 65
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 only the invoice header and invoice line description to Receivables, not the invoice distributions.
- B. The project sends only the invoice header to Receivables, not the invoice line description and distributions.
- C. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
- D. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
Answer: D
NEW QUESTION 66
Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)
- A. Accounting date is the first day of the first open accounting period.
- B. Project accounting date is the first day of the first open project accounting period.
- C. Project accounting date is the last day of the open project accounting period.
- D. Project accounting date is the same as the original invoice date.
- E. Accounting date is the same as the original invoice date.
Answer: A,D
NEW QUESTION 67
A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000
Cr Revenue 40,000
At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)
- A. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
- B. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
- C. Dr Unearned Revenue 40,000Cr Revenue 40,000
- D. Dr Accounts Receivables 40,000Cr Revenue 40,000
Answer: B
NEW QUESTION 68
You have projects and tasks defined with transaction controls, which does not allow certain types of charges to the project. Your business needs to create invoices in AP with this project every period and hence would like to make the process easier by creating a distribution set. As you create the distribution set, you notice that these distribution set lines are not validated against the project transaction controls and you are allowed to save it without any validation errors. Identify the reason why the project transaction controls are not applied. (Choose the best answer.)
- A. There is no expenditure item date information available on the distribution set line.
- B. There is no expenditure type information available on the distribution set line.
- C. There is no expenditure organization information available on the distribution set line.
- D. The account code combination is not available on the distribution set line.
Answer: A
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18c/oapfm/project-costing-configuration-de How can I validate distribution sets for projects information?
Oracle Fusion Projects performs validations on Oracle Fusion Payables distribution sets for payables invoices at the time you create the actual distribution set lines. It validates the project and task number during the invoice validation.
Distribution sets are typically used on recurring transactions, and the associated project does not have transaction controls. When you create a distribution set in Oracle Fusion Payables, the distribution set line is not validated against the project transaction controls in Oracle Fusion Projects because you do not enter an expenditure item date, which is required for transaction control validation. The expenditure item date is not provided because you use the distribution sets for an indefinite period of time.
NEW QUESTION 69
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