1Z0-511 Practice Questions

* AutoAccounting Parameter: Class Code

AutoAccounting class code on the project.

Note: Since you can define many project classification categories, the Class Code parameter always

corresponds to the one classification category that you specified as the AutoAccounting classification

category.

Reference: Oracle Projects Implementation Guide

When you implement Oracle Projects, you can select the calendar used to maintain PA periods.

PA Period Type

Specify a Period Type, which is used to copy Project Accounting Periods from the calendar associated

with the ledger. If you copy PA Periods from GL, Oracle Projects copies all of the periods of this Period

Type to set up the PA Periods.

In a multiple organization environment, the PA Period Type is specified for each operating unit.

Reference: Oracle Projects Implementation Guide, Implementation Options

Note:

* Project Type

The project type determines how Oracle Projects processes costs (expenditure items) for a project.

The type you choose provides many defaults and controls for project entry and processing. You must

choose a type from one of the following project type classes:

/ Use an Indirect project type to collect and track expenditure item costs and labor hours for

overhead activities, such as administrative and overhead work, marketing, and bid & proposal

preparation. You can also define indirect projects to track time off including sick leave, vacation, and

holidays

/ Use a Capital project type to collect and track costs and labor hours for asset development activities

which you plan to capitalize as one or more assets.

/ Use a Contract project type to collect and track costs, labor hours, revenue, and billing for services

performed for and reimbursed by a client

Note:

* Allow Revenue Budget Entry. Indicates if you allow entry of revenue budget types. You may choose

to not allow entry of revenue budgets for indirect or capital projects. You must enter a revenue

budget for a contract project before it can accrue revenue and be billed.

Note:

Setting up Multi-Currency Transactions

To set up your system to process multi-currency transactions, perform the following steps:

* Implementation Options

Use the Currency Implementation Options to control the default values for currency attributes at the

operating unit level. Oracle Projects uses the currency attributes to calculate currency exchange

rates. See: Currency Implementation Options.

* Currency

For each project for which you want to process multi-currency transactions, set up the Currency

options in the project and task options window. This option enables you to enter default currency

attributes for a project. See: Currency, Oracle Projects Fundamentals.

* Cross Charge

You can use the Cross Charge Options to specify whether the project can accept charges from other

operating units. See: Cross Charge Setup, Oracle Projects Fundamentals.

* Task Currency and Cross Charge Options

* You can use the Task Currency and Cross Charge Options to override the costing currency

conversion attributes and cross charge options in a lowest task. See: Currency, Oracle Projects

Fundamentals and Cross Charge Setup, Oracle Projects Fundamentals.

* Transaction Entry and Transaction Import

During Transaction Entry and Transaction Import, you can override the project and task currency

attributes. See: Entering Expenditures, Oracle Project Billing User Guide and Currency Conversion

Attributes for Imported Transactions, Oracle Projects APIs, Client Extensions, and Open Interfaces

Reference.

Reference: Oracle Projects Implementation Guide

The Automatic Invoice Approve/Release Extension allows you to release invoices automatically as

part of the Generate Draft Invoice process.

Incorrect:

Not E:

Generating Revenue Accounting Events

After you generate and release the revenue, you run the concurrent program PRC: Generate Revenue

Accounting Events. The concurrent program determines default unearned revenue and unbilled

receivables accounts using AutoAccounting and generates accounting events for Oracle Subledger

Accounting.

Note: If you set the profile option PA: Interface Unreleased Revenue to GL to yes, then Oracle

Projects automatically releases any unreleased revenue when you run the concurrent program PRC:

Generate Revenue Accounting Events.

Reference: Oracle Project Billing User Guide, Releasing Invoices

C: If you enable the Allow Adjustments option for a predefined transaction source for supplier costs,

you must complete at least one of the following setup steps:

/ (C) Specify the default supplier cost credit account for supplier cost adjustments in Oracle Projects

implementation options for each operating unit.

/ Define a rule in Oracle Subledger Accounting to determine the supplier cost credit account.

This setup is required for the process PRC: Create Accounting to successfully create accounting for

supplier cost adjustments. Oracle Projects displays a message asking you to validate the setup each

time that you enable the Allow Adjustments option for a predefined transaction source for supplier

costs. (B)

E: You can adjust the supplier cost expenditure items in Oracle Projects to transfer or split the items.

Oracle Projects processes these supplier invoice adjustments using the Supplier Invoice Cost Account

AutoAccounting function.

Reference: Oracle Projects Implementation Guide, Implementing Oracle Project Costing

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