AHC EXAM

Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They have decided to implement Accounting Hub to import the transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask you to provide your suggestion on sharing accounting rules for these external systems.
Which implementation setup allows the sharing of accounting rules for all four external systems?

•  One subledger for all four source systems

•  Three subledgers, one for home loan and auto loan, the second for consumer loan, and the third for personal loan

• Two subledgers, one for home loan and auto loan and another for consumer loan and personal loan

•  Four subledgers, one for each source system

Your company is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep, in their source system. While analyzing the source transaction system, you are asked to propose an event model based on the activities performed by the company.
Based on your analysis, what should the Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep transactions be defined as while registering the source system?

•  Source systems

•  Event types

•  Event classes

•  Journal sources

Your new Oracle Fusion Cloud customer has a reporting requirement to balance general ledger journals not only between companies (primary balancing segments and Legal Entities) but also within divisions. The proposed chart of account structure has the following nine segments:
Company-Division-Department-Account-Subaccount-Product-Intercompany-Future1-Future2
Which segment label should be selected on Division to achieve the reporting requirement?

•  Local Use segment

•  Second Balancing segment

•  Management segment

•  Intercompany segment

•  Cost Center segment

To create journal entries, the Create Accounting process takes source data used in accounting rules from tables or views.
What are the tables or views called?

•  Mapping sets

•  Event entities

•  Transaction objects

•  Source objects

Your client, a banking organization, is currently using different transaction systems to take care of various types of loans, including vehicle loans, personal loans, education loans, and housing loans. You recently uploaded the source system data that includes Loan Origination, Loan Interest Accrual, Loan Scheduled Payment, Loan Interest Adjusted, Loan Late Payment, and Loan Charge Off as event types.
Now the customer has asked you to add another transaction type called Loan Interest Accrual Reversal.
What should be your response to the customer?

• Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.

•  A new transaction type cannot be added after the source system is registered.

•  The source system should be registered again by including the Loan Interest Accrual Reversal event type.

•  Loan Interest Accrual Reversal can be added as a new event type from the user interface.

Your client has decided to implement Accounting Hub along with other Oracle-owned subledgers. They want to know about the predefined accounting methods that Oracle provides.
Which three are the predefined accounting methods?

•  Standard Accrual with Encumbrances

• Standard Accrual

• Standard Accrual for China

•  Standard Accrual for USA

• Standard Accrual for Japan

Which statement is true about journal entry rule sets?

•  Description rules can be assigned only at the header level of a journal entry rule set.

•  Description rules can be assigned only at the line level of a journal entry rule set.

•  Description rules can be assigned at both the header and the line level of a journal entry rule set.

Your client organization deals in providing loans to its customers. You are appointed as a consultant to implement Oracle Fusion Cloud Accounting Hub to standardize the accounting process. Your client has a requirement to retrieve the segment values for the debit and credit side of journal entries based on different criteria.
You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as the input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which two options allow the validation of input values on mapping sets?

• Lookup types

•  Value sets

•  Segment values

•  Chart of accounts segment

Which two options can you use to reconcile subledger journal entries with the source system?

• Tag supporting references with Journal Line Rules.

•  Submit the Period Close Exception Report.

•  Create and submit the Oracle Transactional BI Report to review supporting reference balances.

•  Submit the Subledger Accounting Diagnostics report.

The company 'Insurance for Homes' provides home insurance services. It has an in-house system that processes home insurance payments received from customers. The end result of the process consists of a list of individual journal entries in a spreadsheet. The company wants to get all journal entries in a secure and auditable repository. Access will be limited to a select few staff members. Additionally, these staff members will need to be able to report and view the entries using an advanced reporting and analytical tool for slicing and dicing the journal entries.
Insurance premium is to be recognized as income across the coverage period of the insurance policy.
Which types of journal lines need to be set up to generate recurring journal entries for insurance premium in each accounting period?

•  Multiperiod and Recognition

•  Deferral and Recognition

•  Reversal and Recognition