Latest 1Z0-511 Dumps For Oracle 1Z0-511 Exam Preparation
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Question 1:
Your customer has set up a contract project with a distribution rule Work/Work. Identify three setup options to:
A. Setup revenue categories as required.
B. Definerevenue accountsatthe revenue category setup level.
C. Define AutoAccounting rules to derive revenue account based on revenue category.
D. Definegrouping option byrevenuecategoryon the invoice format and attach the invoice format at the project type level.
E. Define grouping option by revenue category on the project type.
Correct Answer: ACD
Note:
Revenue and Billing Information
When you enter revenue information for your project, you specify a revenue distribution rule for the revenue accrual method and the billing method for this project. When you enter billing information, you specify invoice formats, bill cycle days,
and other invoicing information. The project type determines which revenue distribution rule appears as the default value for this field, and which other revenue distribution rules you can choose from. Oracle Projects predefines the following
revenue distribution rules:
Cost/CostAccrue revenue and bill using the ratio of actual cost to budgeted cost (percent spent). Cost/EventAccrue revenue using the ratio of actual cost to budgeted cost (percent spent), and bill based on events.
Cost/WorkAccrue revenue using the ratio of actual cost to budgeted cost (percent spent), and bill as work occurs.
Event/EventAccrue revenue and bill based on events.
Event/WorkAccrue revenue based on events, and bill as work occurs. Work/EventAccrue revenue as work occurs, and bill based on events.
Work/WorkAccrue revenue and bill as work occurs.
Question 2:
Identify two predefined transaction sources that Oracle Projects uses to import the transactions generated within Oracle Projects.
A. Oracle Interproject Supplier Invoices
B. Oracle Projects Intercompany Supplier Invoices
C. Project Allocations
D. Capitalized Interest
E. Oracle Interprojed Customer Invoices
Correct Answer: CD
Oracle Projects uses predefined transaction sources to import project allocations and capitalized interest transactions that it generates internally.
Question 3:
Refer to the exhibit.
In your company\’s Expenditure/Event Organization Hierarchy, organization labor costing rules are assigned to all organizations except San Jose. What happens when you run the “PRC: Distribute labor costs” program for a timecard transaction entered by an employee from the San Jose organization?
A. Therule assignedfor SanFranciscotakes precedence and the transaction will hesuccessfully a distributed.
B. The rule assigned for USA takes precedence and thetransaction will he successfully cost distributed.
C. The rule assigned for California takes precedence and the transaction will be successfullycostdistributed.
D. The program ignores this transaction, because no labor costing ruleis assigned for San Jose.andcompletesnormally.
E. The program completes normally. However, the output will have this transaction under the exceptions sectionwith a message “No Labor costing rule assigned for organization.”
Correct Answer: C
Question 4:
Which two options are not task attributes for financial task structure?
A. Task Type
B. Service Type
C. Work Type
D. Chargeable Flag
E. Scheduled Dates
Correct Answer: BD
Incorrect:
Not A:Task types assign default attributes to tasks and control how Oracle Projects processes tasks.
Task types specify basic task attributes.
Not C:Work types represent a classification of work. You use work types to classify both actual and scheduled work. Not E:Oracle Projects uses start and finish dates to control processing, indicate estimated and scheduled duration, and
serve as tools to evaluate project performance.
The start and finish dates at the project level are:
Actual: Actual dates when work on the project started and finished. You can use these dates to drive future timecard and earned value functionality.
(not E)Scheduled: Scheduled start and finish dates for the project.
Target: The expected lifespan of the project.
Estimated: A task manager\’s estimate of when work on the project will be started and finished.
Baseline: The baselined schedule
Question 5:
A new contract project is created for work for a customer by using event-based billing. A decision has been made to give a discount to the customer on a particular invoice. You want to apply this discount and reduce the invoice without
affecting revenue.
Which event type should be used to achieve this?
A. Manual
B. Invoice Reduction
C. Deferred Revenue
D. Automatic
E. ScheduledPayment
Correct Answer: D
Event Type Classification is: Scheduled Payment, Deferred Revenue, Invoice Reduction, Manual, or Automatic (for billing events only)
Question 6:
In which two circumstances would it be appropriate to deselect the “Interface Revenue to GL” option in System Implementation Options, before you run the Interface to GC?
A. During data migration ifRevenue is already in General Ledger
B. When Revenueis handled in Accounts Receivable
C. WhenAutoAccounting isincorrect and the Revenue interfacing to GeneralLedger needs to be puton hold.
D. When Financewants to reconcile Unbilled Receivables/Unearned Revenue
E. When Revenuewas generated in errorforallprojects in Released status, and needs to becorrected.
Correct Answer: AB
A: If the revenue amounts are already interfaced to General Ledger (GL) through a different interface, then uncheck the `Interface Revenue to GL\’ option in the implementation options and run the `Interface Revenue to GL\’ process in Oracle projects. This will turn the flags in the revenue records as accepted in GL, though it is not interfaced. Once this is done, revert back the implementation option back to its original state.
Question 7:
What type of project will a company require to use Organization Forecasting?
A. contract project
B. Administration Project
C. Organization Planning Project
D. capital project
E. multi-function project
Correct Answer: A
Note:
*Compute Forecast Labor Revenue
This process calculates the potential revenue of labor expenditure items based on established bill rates and markups. The expenditure items that the process selects are billable labor expenditure items charged to contract projects that have
not yet been processed by the Generate Draft Revenue process. The items do not have to be approved to be processed for forecast revenue.
Question 8:
An organization uses Oracle Projects and has fully installed Oracle Human Resources. Which statement does not apply to this scenario?
A. Employees can be entered and maintainedin Oracle Projects.
B. Jobs can be setup in Oracle Projects.
C. Organizations can be defined In Oracle Projects.
D. Organization Hierarchiescan be defined in Oracle Projects.
E. WorkerAssignments can be viewed in Oracle Projects.
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.
Question 9:
Identify the four different levels where transaction controls are defined.
A. Expenditure Categories
B. Expenditure Organization
C. Employee
D. Project Organization
E. Expenditure Type
F. Person Type
Correct Answer: ACDE
You can configure transaction controls by the following:
(A)Expenditure Category (C)Employee (E)Expenditure Type Non-Labor Resource
Question 10:
Your client has expressed a desire to produce and summarize invoice lines for Non-Labor transactions by type of expenditure based on high level tasks of the project. Which invoice formal grouping should he used to achieve this?
A. TopTask,ExpenditureType
B. TopTask,Employee
C. Revenue Category,Expenditure Category, Top Task
D. TopTask,Expenditure Category
E. TopTask, Revenue Category, Expenditure Category,Expenditure Type
Correct Answer: A
Note: *Oracle Projects processes tasks based on their position in the structure. The three distinct positions are: Top Task: A task whose parent is the project Mid Task: A task that is not a top task or a lowest task Lowest Task: A task that is at the bottom of the structure, without any child tasks
*You can configure transaction controls by the following: Expenditure Category Employee Expenditure Type Non-Labor Resource
Question 11:
Which three types of People Resources does Oracle Projects support?
A. Team Roles
B. Straight Time
C. Jobs
D. Item
E. Named Person
Correct Answer: ACE
Note:
*People resources represent named persons or any grouping of named persons(E)by attributes such as job(C), organization, or role(A), whose time (effort) capacity is consumed to complete the project work. Example: Amy Marlin
Question 12:
Identify three adjustment actions that require submission of Distribute costs program to process the adjustments?
A. Change Comment
B. Release Hold
C. Split
D. Transfer
E. Recalculate Revenue
F. Capitalizable to Non-Capitalizable
Correct Answer: CDF
After you have performed the adjustment actions, you need to run the appropriate processes to process the adjustments.
The table below notes what processes to run to process each adjustment action.
Question 13:
A customer has gone into bankruptcy and is unable to pay their bills. This means that the project revenue is now overstated. How can the customer reduce the revenue on the project to accurately reflect the amount of collectable revenue?
A. Create a revenue write-off event forthe uncollectable element andinterface to General Ledger.
B. Create a negative funding line and assign to the project thus reducing its revenue.
C. Createacost adjustment on the project using preapproved batches.
D. Createa credit memo in Oracle Projects and interface to Accounts Receivable.
E. Entera transaction control against the expendituretypes and regenerate the draft invoice.
Correct Answer: A
Question 14:
What must be defined to enable a company to use an organization for a straight time expenditure?
A. Define the organization with the Following:1. Add Cost Centreas the Organization type.2. Add an organization classification ofHR Organization.3. Add the organizationto anorganization hierarchy.
B. Define the organization with the Following:1. Add the organization classifications HR Organization and ProjectExpenditure/Event2.Add the organization to anorganizationhierarchy3. Add the organization hierarchy to the appropriate Oracleprojectimplementation option setting
C. Define the organization with the following:1.Add the organization classificationsProject/Task Owning Organization and ProjectExpenditure/Event Organization.2. Add the organization to an organization hierarchy.3.Add the organization hierarchy to the appropriate Oracle project implementation option setting.
D. Define the organization with the following:1. Add the organization classifications Project Expenditure/Event Organization.2. Add the organization to an organization hierarchy.3.Add the organization hierarchy to the appropriate Oracle project implementation option setting.
E. Define the organization with the Following:1. Add the organization classifications HR Organization and ProjectExpenditure/Event2. Add the organization to an organization hierarchy.3. Define Organization Labor Costing Rules.
Correct Answer: E
Note: *You can set this at the Inventory Organization level in the Project Manufacturing Parameters window, the Costing tabbed region. This allows WIP employee resources and Project straight time hours to be summarized as Straight Time Expenditure Type Class. *expenditure type class An additional classification for expenditure types that indicates how Oracle Projects processes the expenditure types. For example, if you run the Distribute Labor Costs process, OracleProjects will calculate the cost of all expenditure items assigned to the Straight Time expenditure type class. Formerly known as system linkage
Question 15:
A customer has two operating units: US and Ireland. A project that is set in the Ireland operating unit requires the services of employees from the US operating unit.
Identify three mandatory steps that must be completed for the employees in the US to enter their time on the project and for costs to be successfully distributed.
A. Set up Internal Billing Implementation optionsin US and Ireland.
B. Define providercontrolsin US and receiver controlsin Ireland.
C. Setup a new transaction source to receive Intercompany transactions in Ireland.
D. For theprojectinIreland, select “Allow Cross Charges to all Operating Units within Legal Entity”.
E. For the projectin Ireland,set up transaction controls to allow charges from other operating units.
Correct Answer: BCD
B:Provider and Receiver Controls Setup
For each provider operating unit or receiver operating unit involved in the cross charge, the Provider/Receiver Controls window Provider Controls and Receiver Controls tabs specify:
The cross charge method to use to process intercompany cross charges and to override default cross charge method for inter-operating unit cross charges.
Attributes required for the provider operating unit to process intercompany billing to each receiver operating unit. This includes the Intercompany Billing Project and Invoice Group.
Attributes required for the receiver operating unit to process intercompany billing from each provider operating unit. This includes the supplier site, expenditure type and expenditure organization.
*
(C)Intercompany Billing Accounting Companies choose the intercompany billing method largely due to legal and statutory requirements. When you use this method, Oracle Projects generates physical invoices and corresponding accounting entries at legal transfer prices between the internal seller(provider) and buyer (receiver) organizations when they cross a legal entity boundary or operating units.
*
(D)Overview of Cross Charge When projects share resources within an enterprise, it is common to see those resources shared across organization and country boundaries. Further, project managers may also divide the work into multiple projects for easier execution and management. The legal, statutory, or managerial accounting requirements of such projects often present complex operational control, billing, and accounting challenges.
Oracle Projects enables companies to meet these challenges by providing timely information for effective project management. Project managers can easily view the current total costs of the project, while customers receive bills as costs are incurred, regardless of who performs the work or where it is performed.
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