1z0-1057-24 Exam Dumps - Oracle Project Financials Management Cloud Questions and Answers

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio- management/19a/fapfm/introducing-oracle-project-portfolio-management-cloud-services.html#FAPFM428138

Topic - Project Foundation Profile Options

Profile Option Name - Task Managers Must Be Project Team Members

Description - Specify whether task managers must be project team members.

Values – No (Default) /Yes

Setup Task Name -Require Task Managers to be Project Team Members

The workflows in Project Financial Management are business processes that automatethe approval and notification tasks for various project transactions and events. Two of the workflows in Project Financial Management are:

Project Status Change: This workflow manages the approval and notification tasks for changing the status of a project or task from one value to another. For example, when a project or task is submitted for approval, this workflow routes the request to the appropriate approvers and notifies them of the action required.

Expenditure Item Adjustment: This workflow manages the approval and notification tasks for adjusting expenditure items that have been charged to a project or task. For example, when an expenditure item is adjusted by a project manager or a cost accountant, this workflow routes the adjustment to the appropriate approvers and notifies them of the action required. Capital Interest Calculation, Burden Cost Recalculation, and Asset Line Generation are not workflows in Project Financial Management, but processes that perform various calculations and transactions for project costs and assets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-financial-management.html#OAPFM2356161

Referencehttps://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJC/F1071488AN1004C.htm

To import and process third-party transactions that are costed and accounted, you need to set the Transaction Source Options for the transaction source that you use to import the transactions. The Transaction Source Options allow you to specify whether the transactions are costed and accounted by the source system or by Oracle Fusion Cost Management. You can also specify whether to validate and transfer costs and accounting entries to projects and general ledger.Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2355941

 The recommendation for this scenario is to define one business unit and two project units. A business unit is an organization that performs one or many business functions such as transaction processing or reporting. A project unit is an organization that manages projects within a business unit or across multiple business units. By defining one business unit and two project units, you can meet the following requirements of the client organization:

The management reporting and transaction processing requirements are the same for both the organizations: This can be achieved by using the same business unit for both the organizations, as the business unit determines the common setups such as ledger, currency, calendar, etc. for transaction processing and reporting.

The project planning, management, analysis and reporting requirements are different for each organization: This can be achieved by using different project units for each organization, as the project unit determines the specific setups such as project types, templates, options, etc. for project planning, management, analysis and reporting. Defining two business units and two project units is not recommended for this scenario, as this would create unnecessary duplication of setups for transaction processing

The borrowed and lent cross charge method is a method that allows you to process cross charge transactions between provider and receiver organizations that belong to different legal entities within the same primary ledger. This method does not generate internal invoices or intercompany accounting entries for cross charge transactions. Instead, this method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations using borrowed and lent accounts. Two statements that are true about this method are:

Internal Invoice is not generated with this method. This method does not create internal invoices for cross charge transactions, as these transactions are accounted within the same primary ledger using borrowed and lent accounts.

This method allows you to process cross charge transactions across legal entities. This method allows you to process cross charge transactions between provider and receiver organizations that belong to different legal entities within the same primary ledger, as long as they share the same chart of accounts, calendar, currency, and subledger accounting method.

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-co st-transactions.html#OAPJC284872

What's a borrowed and lent processing method?

A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from theprovider organization to the receiver organization within a legal entity.An internal invoice isn't created but costs or revenue are sharedbased on the transfer price rules.This method provides a financial view of the performance of an organization.

Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/proj ect-foundation-configuration-define-types-and-categorizations.html#OAPFM222700

Topic - Manage Project Class Categories

Setting Up Class Categories: Points to Consider

Available as Accounting Source

This option indicates if theclass category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.

Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting. To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.

The BPM Worklist component provides a human workflow service that handles all interactions with users or groups in business processes. The BPM Worklist allows users to view, act on, track, and administer workflow tasks that require their attention. Users can also delegate, escalate, or reassign tasks to other users or groups as needed. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate-project-financial-management.html#OAPFM2356171

Referencehttps://docs.oracle.com/cloud/r13_update17b/projectcs_gs/OAPJC/OAPJC1071490.htm#OAPJC1071482

Ref:https://docs.oracle.com/cd/E17904_01/doc.1111/e14431/managing.htm#APMAG3333

Fusion Middleware Administrator's Guide for Authorization Policy Manager

Managing Security Artifacts

This chapter describes the procedures an administrator follows to manage application-specific security artifacts, view the external role hierarchy, manage the application role hierarchy, andmanage the many-to-many mapping of application roles to external roles from both the application and the external role point of view.

This chapter is divided into the following sections:

Managing Application Security Artifacts

Viewing the External Role Hierarchy

Managing the Application Role Hierarchy

Mapping Application Roles to an External Role

Mapping External Roles to an Application Role

Role Mapping Policy

A Role Mapping Policy is used to determinewhat external subjects(users, groups orExternal Roles) are assigned to the applicable Application Role. The Application Role, when referenced in an Authorization Policy, defines the principals affected by the Authorization Policy. Role Mapping Policies may also include conditions

Oracle Identity Manager –Not used for mapping application roles to external roles

How do Users Interact with Oracle Identity Manager?

Oracle Identity Manager provides an end-user interface, called the Identity Self Service console, and a system administrator interface, called the Identity System Administration console. Both end-users and system administrators use the web browser to log on to Oracle Identity Manager. Oracle Identity Manager (OIM)

OIM provision users, roles, and defines what a user can do in Oracle Cloud

Duty Roles are mapped to jobs and assigned access privileges (Data Security)