1Z0-511 Online Practice Questions and Answers

Correct Answer: D

Note:

*Oracle Projects fully integrates with Oracle Human Resources to keep track of employees and information relevant to them, such as bill rates and mailing address.

Correct Answer: ACDE

You can configure transaction controls by the following:

(A)Expenditure Category (C)Employee (E)Expenditure Type Non-Labor Resource

Correct Answer: BC

Note:

*You can set up two types of project structures in Oracle Projects:

/Workplan structures consist of tasks that help project managers and team members plan, track, and deliver projects on time.

/Financial structures consist of tasks that help project managers and financial administrators track billing, costs, budgets, and other financial information for individual projects.

*If you enable both a workplan structure and a financial structure for your project or project template, you can decide whether or not they are integrated, and if so, to what degree. You do this by choosing one of the following options on the

Structures setup page:

/Shared Structures: Enables you to generate a financial structure with a task hierarchy that is fully shared by the workplan structure task hierarchy. Workplan and financial structures are fully shared by default.

/Partially Shared Structures: Enables you to generate a financial structure that is partially shared by the workplan structure hierarchy.

/Non-Shared: Task-Based Mapping: Enables you to map individual workplan structure tasks to individual financial structure tasks.

/Non-Shared: No Mapping: Choose this if you do not want to integrate your project workplan and financial structures in any way.

Correct Answer: C

The provider operating unit runs the process PRC: Tieback Invoices from Receivables, which automatically creates corresponding intercompany invoice supplier invoices ready to be interfaced to Oracle Payables in the receiver operating unit.

Note:

See step 6 below.

Intercompany Billing Processing FlowIntercompany billing processing requires the following steps:

The provider operating unit also imports project-related supplier costs from Oracle Purchasing and Oracle Payables and project-related expense report costs from Oracle Payables. Use Oracle Receivables to print the invoice as well as to

create accounting for Oracle Subledger Accounting.

Correct Answer: A

*Defining Retention Terms

Retention Terms determine how amounts are withheld from project invoices and how the withheld amounts are billed to the project customer. Retention terms include:

Withholding Terms

Withholding Terms by Expenditure Category

Withholding Terms by Event Revenue Category

Billing Terms

*Witholding Terms

These terms apply to all sources of project invoice amounts for the specified project or top task. For each term, you can define a withholding percentage or amount. Optionally, a threshold amount can be defined to determine the maximum

amount to be withheld per term.

Correct Answer: D

Invoice

When you run the program to interface invoices to Oracle Receivables, Oracle Projects runs AutoAccounting to determine the appropriate default accounts. If the invoice fails AutoAccounting, then the program marks the draft invoice with an error. See: Overview of AutoAccounting, Oracle Projects Implementation Guide.

The following table shows entries Oracle Projects creates when the Interface Invoices to Oracle Receivables process is run:

AccountDebitCredit Receivables200.00 Unbilled Receivables and/or Unearned Revenue200.00

Correct Answer: A

*AutoAccounting Parameter: ClassCode

AutoAccounting class code on the project.

Note: Since you can define many project classification categories, the Class Code parameter always corresponds to the one classification category that you specified as the AutoAccounting classification category.

Correct Answer: B

Implement AutoAccounting to charge appropriate expense accounts

When you implement AutoAccounting, you can charge straight time costs to a labor expense account and overtime costs to an overhead or overtime expense account. To charge straight time and overtime to different accounts, you define an AutoAccounting rule based on expenditure type, expenditure category, service type, compensation rule, or labor cost multiplier.

Note: *Labor Cost Account Function When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor cost amounts based upon employee labor cost rates and compensation rules. After calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit an expense account for raw labor costs. *You need to define at least one overtime expenditure type. You use the Expenditure Types window to define overtime expenditure types classified by the Overtime expenditure type class.

Correct Answer: C

When you implement Oracle Projects, you can select the calendar used to maintain PA periods.

PA Period Type

Specify a Period Type, which is used to copy Project Accounting Periods from the calendar associated with the ledger. If you copy PA Periods from GL, Oracle Projects copies all of the periods of this Period Type to set up the PA Periods.

In a multiple organization environment, the PA Period Type is specified for each operating unit.

Correct Answer: ACE

C:View Accounting Details

With the integration to Oracle Subledger Accounting, you now have the option to define account derivation rules within Oracle Subledger Accounting that will replace the default accounts generated by the Oracle Projects AutoAccounting feature.

E:Account Generation Rules During the upgrade, Oracle Grants Accounting creates default accounting definitions that allow the system to continue using existing AutoAccounting rules without additional setup steps. You may choose to create your own accounting definitions using Accounting Method