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Exam Code: CIS-PPM

Exam Name: Certified Implementation Specialist - Project Portfolio Management (PPM)

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NEW QUESTION: 1
Which method will reverse accruals in the next accounting period?
A. Create one event and use the Accounting Reversal attribute.
B. Create one entry and use Accrual Reversal GL Date.
C. Create one event and use the GL functionality to perform the reversal.
D. Create two events, one for accrual and another for the reversal.
Answer: B
Explanation:
The Accrual Reversal GL Date accounting attribute is relevant to applications using the accrual reversal feature.
When the accrual reversal GL date accounting attribute returns a value, the Create Accounting program generates an entry that reverses the accrual entry.
Note:
* If an invoice is not entered by period end, the Receipt Accruals - Period End process will generate accruals and transfer the accounting for them to the GL Interface. Use the Journal Import program to create unposted journals. This journal is created with a reversal date in a subsequent period. The journal must be reversed so your receipt liability is not overstated.
Reference: Oracle Financial Services Accounting Hub Implementation Guide, GL Date Accounting Attributes


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