50 Oracle Financials Cloud: General Ledger 2025 Implementation Professional Practice Questions: Question Bank 2025

Your organization is implementing Oracle Financials Cloud General Ledger and needs to track financial data by Department, Cost Center, and Product Line. Which Chart of Accounts component should be used to enable this multidimensional reporting capability?

A controller needs to prevent journal entries from being posted to a specific account combination during the year-end close process. Which feature should be implemented to achieve this requirement?

During month-end close, a financial analyst discovers that several journal entries were posted to the wrong period. The current period is already closed. What is the correct approach to correct these entries in Oracle General Ledger Cloud?

A company wants to automatically allocate corporate overhead costs to various business units based on headcount each month. Which General Ledger feature should be configured to accomplish this?

Your organization uses Oracle General Ledger Cloud and needs to create financial reports that show budget vs. actual comparisons with variance analysis. The budget data resides in a separate budget ledger. Which reporting tool provides the most comprehensive capability for this requirement?

A multinational corporation needs to perform currency conversions for consolidation purposes. Their subsidiaries maintain ledgers in local currencies, and they need to convert these to USD for corporate reporting. Which General Ledger feature should be configured?

An organization wants to ensure that journal entries meet specific validation criteria before they can be posted. For example, all entries to certain accounts must include specific reference information. What is the best way to enforce this requirement?

A company has completed their fiscal year and needs to carry forward account balances to the new year while maintaining detailed transaction history. Which year-end process should be executed in Oracle General Ledger Cloud?

A global enterprise has implemented multiple primary ledgers for different legal entities and needs to create a consolidated view for management reporting without impacting the primary ledgers. The consolidation requires eliminating intercompany transactions. Which ledger configuration approach best meets this requirement?

Your organization uses Financial Reporting Studio to create balance sheet reports. Users complain that the report takes too long to run and sometimes times out. The report pulls data from a ledger with millions of transactions. What is the most effective performance optimization strategy?

Your organization has implemented Oracle General Ledger and needs to configure financial reporting structures that allow different views of the same data for statutory, management, and tax reporting purposes. Which feature should you implement to achieve this requirement most effectively?

During the period close process, you notice that certain journal entries are bypassing the required approval workflow. Which configuration element should you verify first to resolve this issue?

A global company operates in multiple countries and needs to consolidate financial results from subsidiaries using different currencies and accounting standards. What is the recommended Oracle GL implementation approach?

You need to create a Financial Reporting Studio report that displays actual results compared to budget with variance calculations. Which component must be defined to enable variance columns in the report?

What is the primary purpose of the Ledger Set in Oracle General Ledger?

During month-end close, your team needs to ensure that all subledger transactions have been transferred to GL before closing the period. Which two reports should you run to verify this? (Choose the best combined answer)

Your organization wants to automatically generate intercompany balancing entries when users create journals that involve multiple balancing segment values. What must be configured to enable this functionality?

A user reports that they cannot post journals to a specific account combination that appears to be valid. What is the most likely cause?

Your organization needs to analyze financial performance by product line, which is not part of the Chart of Accounts structure. What is the best approach to capture and report on this additional dimension?

What happens when you close an accounting period in Oracle General Ledger?

Your organization operates in multiple countries and needs to generate financial reports in various currencies for different stakeholders. Which General Ledger feature should you implement to meet this requirement?

During the year-end close process, your accounting team discovers that several journal entries from December were posted to the wrong cost center. The December period is already closed. What is the Oracle-recommended approach to correct these entries?

A multinational corporation needs to consolidate financial results from 15 subsidiaries, each using different local charts of accounts. Three subsidiaries use different accounting standards (Local GAAP) that must be converted to IFRS for consolidation. What is the most efficient ledger architecture to implement?

You are configuring Account Hierarchies for Financial Reporting. Which statement is TRUE about the relationship between Account Hierarchies and the Chart of Accounts structure?

Your company is implementing Intercompany transactions and needs to ensure that transactions between legal entities are automatically balanced and eliminated during consolidation. Which configuration steps are required? (Choose the best combination)

When configuring Journal Entry approval workflows, a user reports that journals requiring approval are not routing to the designated approver. Which troubleshooting step should you perform FIRST?

Your organization wants to automate the monthly revenue recognition journal entries across multiple departments using a consistent calculation methodology. Which feature provides the most efficient solution?

Which statement accurately describes the Average Balance Processing feature in General Ledger?

A company uses Smart View for Excel-based financial reporting. Users report that when they refresh data, some accounts show #MISSING values even though data exists in the General Ledger. What is the most likely cause?

Your implementation requires complex consolidation eliminations for intercompany transactions, including matching logic for transactions that may have timing differences. The elimination entries must be tracked separately and reversed if underlying transactions change. Which approach should you implement?

Your organization has multiple ledgers with different Accounting Calendars. You need to create consolidation journals that aggregate data from ledgers using a 4-4-5 calendar and a standard calendar. What is the recommended approach to handle this calendar difference during consolidation?

A company wants to prevent users from posting journals to specific account combinations that violate business rules. Which feature should be configured to enforce these restrictions at the point of journal entry?

During the period close process, you notice that certain subledger journals have not been transferred to GL. What is the FIRST step you should take to identify and resolve this issue?

Your company needs to track budget versus actual performance across multiple dimensions including department, project, and cost center. Which General Ledger feature provides the most flexible approach for this multi-dimensional budget analysis?

What is the primary purpose of the Average Balance Processing feature in Oracle General Ledger?

A user attempts to post a journal and receives an error stating the period is not open. The user confirms they selected the correct period name. What is the most likely cause of this error?

Your organization operates in 15 countries and needs to generate statutory reports in local currencies while maintaining corporate reporting in USD. The company wants to minimize data entry and maintain a single source of truth. Which ledger architecture should be implemented?

When configuring intercompany balancing rules, which element defines the offsetting accounts that will be used to automatically balance intercompany transactions?

You need to create a financial report that displays current period actuals alongside prior year comparative figures with variance calculations. Which Financial Reporting Studio component allows you to reference different time periods in the same report?

After running the translation process for foreign subsidiaries, you discover that certain accounts are being translated using the wrong exchange rate type. The Chart of Accounts mapping appears correct. What is the most likely configuration issue?

Your organization has implemented Oracle General Ledger and needs to enable users to create journals that automatically balance across multiple balancing segment values. Which feature should be configured to achieve this requirement?

A controller wants to define budget control at the event level to prevent commitment documents from being approved when budget funds are not available. What is the correct sequence of steps to implement budget control?

During period close, a GL accountant notices that some journals imported from subledgers are not appearing in the General Ledger. What is the most likely cause of this issue?

A multinational corporation needs to create consolidated financial statements that eliminate intercompany transactions between legal entities. Which Oracle GL feature should be used to automate this process?

Your organization uses descriptive flexfields to capture additional information on journal entries. Users report that certain descriptive flexfield segments are not appearing when entering journals for specific account combinations. What is the most likely configuration issue?

A company wants to track budget versus actual performance in real-time through Financial Reporting. What is the correct approach to display both budget and actual balances in a single report?

An implementation consultant needs to configure accounting for a new transaction type in Accounts Payable. The requirement is to post different account combinations based on the invoice amount. Which component of Subledger Accounting should be configured to achieve this?

After running the consolidation process, a financial analyst notices that the elimination journals were not created automatically. What should be verified first to troubleshoot this issue?

A company needs to create variance analysis reports comparing current period actual results against the same period last year. What is the most efficient way to set up this reporting requirement in Financial Reporting?

Your organization has configured multiple reporting currencies for a ledger. When running financial reports, users notice that some account balances appear correct in the primary ledger currency but show zero in the reporting currency. What is the most likely cause?