Oracle GL Interview Questions

1.      How many segments are in an accounting flexfield?

It varies according to the needs of the organization.  But there must be a minimum or 2 and maximum of 30

2.      What are the types of flexfields?

Key and descriptive

3.      What are the key flexfields for General Ledger?

There is only one: accounting flexfleld.

4.      What is a flexfield qualifier?

A flexfield qualifier identifies a particular segment of a key flexfield.  You can think of a
flexfield qualifier as an "identification tag" for a segment.  A flexfield qualifier providesa method of identifying a particular segment for some application purpose such as security or computations.

5.      What are the flexfield qualifiers for General Ledger?

Balancing segment, natural account, cost center segment, management segment, secondary tracking segment, and intercompany segment.

6.      What flexfield qualifiers are required?

You must designate a balancing segment and natural account.  Also, cost center qualifier is required for Projects and Assets.

7.      What is a segment qualifier?

When you define a segment value for your natural account segment in the Segment Values window, you must also assign qualifiers which determine the following

Account Type: one of the following account types for each detail account: Asset, Liability, Owner's Equity, Revenue or Expense. The account type is determined by the segment qualifier for the natural account segment of the Accounting Flexfield.

Posting Allowed: asterisk (*) if posting is allowed.

Budgeting Allowed: asterisk (*) if budgeting is allowed.

Summary Account: asterisk (*) if your account represents a summary account or No asterisk if it represents a detail account.

Enabled: asterisk (*) if your account is enabled or no asterisk if it is not enabled.

 Start/End Date: start and end date, if any, for your account.

8.      What is Average Balance In Oracle Financials?

The Average Balance feature of Oracle General Ledger provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both standard and average balances. Average balance processing is particularly important for financial institutions, since average balance sheets are required, in addition to standard balance sheets, by many regulatory agencies. Many organizations also use average balances for internal management reporting and profitability analysis.

The difference between an average and standard balance sheet is that balances are expressed as average amounts rather than actual period-end amounts. An average balance is computed as the sum of the actual daily closing balance for a balan

ce sheet account, divided by the number of calendar Days in the reporting period .

9.      How can a segment value be deleted?

There is no supported way to delete a segment value. Segment values can only be disabled not deleted

10.  What is the difference between the hierarchical and non-hierarchical security types?

Hierarchical Security: This feature combines Flex Value Security and Flex Value Hierarchy.
The end result is a flex value is secured if one of it’s parents is secured;, i.e. if a parent value is excluded then all the children are also excluded.

With non-hierarchical security, the child values do not inherit the parent security.

11.  At what levels may profile options be set?

User, responsibility, application, site

12.  What is Profile Option and what are different types of Profile Options?

Profile Option is the changeable option that affects the way your application runs. There are two types of Profile Pptions:

·         System defined

·         User defined

13.  What is FSG, and what does it do?

FSG stands for financial statement generator. It is a powerful reporting engine for reporting on general ledger balances

14.  How do you set up a context-sensitive flexfield?

To setup a context sensitive flexfield follow these steps:

·         Create a reference field first

·         Second use the created reference field inside Context Field section of DFF Segment screen.

·         Then for each possible value of the context field, you will need to create one record in section named Context Field Value which should be beneath the global data elements.

15.  What is cross-validation

Cross-validation controls the combinations of values you can create when you enter values for key flexfields. A cross-validation rule defines whether a value of a particular segment can be combined with specific values of other segments.

16.  What is dynamic insertion?

Dynamic insertion is the insertion of a new valid combination into a combinations table from a form other than the combinations form. If you allow dynamic inserts when you set up your key flexfield, a user can enter a new combination of segment values using the flexfield window from a foreign key form.  Assuming that the new combination satisfies any existing cross-validation rules, the flexfield inserts the new combination into the combinations table, even though the combinations table is not the underlying table for the foreign key form.