1Z0-511 Oracle E-Business Suite (EBS) R12 Project Essentials

Exam Number: 1Z0-511
Exam Title: Oracle E-Business Suite (EBS) R12 Project Essentials
Associated Certification Paths Oracle E-Business Suite R12 Project Certified Implementation Specialist
Duration: 120 minutes
Number of Questions: 70
Passing Score: 63%
View passing score policy
Validated Against: This exam is validated against R12.
Format: Multiple Choice

Complete Recommended Training
R12.x Oracle Project Management Fundamentals

Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs and/or field experience) provides the best preparation for passing the exam.

Project Foundation: Implementation Options
Configure System Implementation Options
Set up Currency Options
Describe the use and implementation of Periods and Calendars
Describe the use and functioning of People and Roles
Choose Project Structures
Describe the uses and implementation of Project Types and Project Templates

Project Foundation: Fundamentals
Explain Project and Task Fundamentals
Create Organizations
Use Rates
Describe the use and implementation of User Defined Attributes
Describe the use and implementation of Project and Organization Security
Integrate with other Oracle Applications
Describe the use and functioning of Organization Forecasting

Project Costing: Implementation Options
Define Expenditure and Revenue Categories
Define Expenditure Types
Describe the use and implementation of Transaction Controls
Perform Accounting for Costs: SLA vs AA
Describe the use and functioning of Transaction Sources

Project Costing: Fundamentals
Describe the use and implementation of Allocations
Utilize Cross Charges
Use Burden Costing
Set up Labor and Non-Labor Costing
Describe the use and functioning of Preapproved Expenditure Batches
Describe the use and implementation of Expenditure Adjustments
Utilize Cost Budgets
Explain Budgetary Controls and Budget Integration
Create Asset Capitalization
Integrate with other Applications

Project Billing: Implementation Options
Configure Multi Currency Billing
Perform Accounting for Revenue and Billing
Describe the use and functioning of Inter Project Billing
Set up Customer Billing Retention
Describe the use and functioning of Intercompany Billing

Project Billing: Fundamentals
Configure Agreements and Funding
Describe the purposes and implementation of Revenue Budgets
Use Projects Revenue
Perform Invoicing
Describe the use and implementation of Events
Set up Contract Projects
Describe the use and functioning of Billing Extensions
Integrate with other Applications

QUESTION 1
Your customer has set up a contract project with a distribution rule Work/Work. Identify three setup options to:
Charge labortransactions revenue and all othernonlabortransactionsrevenue to separate accounts
Generate separate invoice lineamountsforlaborand nonlabortransactions

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.

Answer: A,C,D

Explanation:
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

Answer: C,D

Explanation: Oracle Projects uses predefined transaction sources to import project allocations
and capitalized interest transactions that it generates internally.
Reference:Oracle Projects Implementation Guide,Transaction Sources

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 SanFranciscot akes precedence and the transaction will hesuccessfully a distributed.
B. The rule assigned for USA takes precedence and the transaction will he successfully cost distributed.
C. The rule assigned for California takes precedence and the transaction will be successfully costdistributed.
D. The program ignores this transaction, because no labor costing rule is assigned for San Jose. and completes normally.
E. The program completes normally. However, the output will have this transaction under the
exceptions section with a message “No Labor costing rule assigned for organization.”

Answer: C

Explanation:

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

Answer: B,D

Explanation:
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

Answer: D

Explanation: 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 if Revenue is already in General Ledger
B. When Revenue is handled in Accounts Receivable
C. When Auto Accounting is in correct and the Revenue interfacing to General Ledger needs to be put on hold.
D. When Finance wants to reconcile Unbilled Receivables/Unearned Revenue
E. When Revenue was generated in error for all projects in Released status, and needs to be corrected.

Answer: A,B

Explanation: 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.

Click here to view complete Q&A of 1Z0-511 exam
Certkingdom Review, Certkingdom PDF Torrents