Oracle HFM Interview Questions & Answers (Part-2)

What are different ways of running consolidation in HFM?

Consolidate- will consolidate only what has changed from the previous execution of consolidation, including the execution of all necessary calculations and currency translations for individual entities (the ones that have the impacted status of course)

How to get Prior year retained earnings Through History data?

We need to write a rule for it.

Consolidate All- will consolidate everything whether changed or not as if it has never run before. It will also include in execution entities for which there is no data at all.

Consolidate All with data-  will consolidate everything whether changed or not but it will skip entities having no data.

What is cash flow statement?

Ans:  Cash flow statement is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow statement is concerned with the flow of cash in and out of the business.

What are member lists? Have you used any?

A member list can be created and used for a variety of activities: data extracts, data grids and forms, rules, and filtering when selecting members. Member lists enable you to specify a segment of information within a dimension.

What is data audit in HFM?

Data audit feature is used to view data changes performed by users. We can filter the data changes by date range, application server, user and the dimension members of cells.

(EnableDataAudit metadata attribute is available in Scenario and Account dimensions.) 

What does an income statement contain (Rough outline)?

It is a financial statement that measures a company’s financial performance over a specific accounting period.

What does a balance sheet contain?

A balance sheet is a financial statement that summarizes a company’s assets, liabilities & shareholder’s equity at a specific point of time.

Can I use any other rates other than avg_rate and EOM_rate in translation in HFM?

Yes, we can use historical rate. We can use historical rate to convert some assets to historical value.

What is the minimum role to be given to a user to access HFM?

Default or view access.

Where do you give roles to user?

In Shared Services.

How do we know whether consolidation has been run for a particular entity or not in a particular month?

Go to process managementà Select specific entityà Consolidation Yes or No.

What are the combinations to enter exchange rates?

From customer 1 and customer 2, there is a system defined member list called currency. So, in customer 1, we are going to have source currency and in customer 2, we have destination currency.

I don’t want an account to get translated, what account type should be used?

There is no relation between account type and translation.

Not able to create journals for an entity, what options do you check?

Allow adjs is enabled or not.

What is Line ITEM detail in HFM? How to enter it?

Line Item detail are additional information to the data. It is entered in the data file.

Child entities have data, but there is no data in parent entity? What could be the reason?

Parent account type is ‘Group Label’