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Financial Interview Questions: Sobs With Same Set of Book. 3

Reporting and primary sets of books are two types that can be used. A shared entity in multi-org allows a business group, legal entity, operating unit, and inventory to be shared across organizations. Flexfield qualifiers can be changed but it is not recommended. Translation is used to convert an entire set of books or balances from a functional to foreign currency using periodic or historical exchange rates for consolidation into global reports. Segment values can be deactivated by selecting an ending period.

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174 views2 pages

Financial Interview Questions: Sobs With Same Set of Book. 3

Reporting and primary sets of books are two types that can be used. A shared entity in multi-org allows a business group, legal entity, operating unit, and inventory to be shared across organizations. Flexfield qualifiers can be changed but it is not recommended. Translation is used to convert an entire set of books or balances from a functional to foreign currency using periodic or historical exchange rates for consolidation into global reports. Segment values can be deactivated by selecting an ending period.

Uploaded by

mahmoud_elassa
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Financial Interview Questions

1-In Multi Org can you tell what is SHORT (Shared) ENTITY?
Business group set of books, legal entity, operating unit, and inventory

2-Can different SOBs share the same value set?


Yes you can share with different sobs why because at the
Time of defining the value set on that time will value
Set name is independent on that time you can use different
Sobs with same set of book.
3-Can a Flex field Qualifies be changed after it has been created?
It can be but not recommended at all

4-Briefly list the steps for foreign currency journals?

5-What type of accounts will display in list of values while entering retained
earnings account in set of books?
Only balance shit account will display

While entering Retained earnings accounts in set of books

6-How can I deactivate the segment value?


you can deactivate the Segment value by select the ending
Period for the Segment value

7-What are the rules for translation?


Translation is used to translate an entire set of books or
Balances for a company from the functional currency to a
Foreign currency.

This feature can translate both actual and budget balances.


If the system have enabled average balance processing then
The system can translate average balances as well.
Translation is frequently used to prepare financial reports
For consolidation into global financial statements.
Translation uses periodic rates and, optionally, historical
Rates.

8-What are the different types of Set of Books?


There are two types of set of books
1. Reporting set of book
2. Primary set of book

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