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Q1. Company ABC has a journal type GAAP accrual that exists on their books for consolidation purposes. However, this accrual should not be included in the final consolidation. Several other companies also have journal type GAAP entries that need to be excluded from the final consolidation. How should this be done? 

A. Create GAAP journals in a journal type that can be excluded from the closing version used for the final consolidation 

B. Create a fictitious company in the same group as company ABC, and then copy company ABC's journals to it with reversing signs C. Copy all other company GAAP journal types into a new journal type, and then exclude existing non-GAAP journaltypes from the closing version 

D. Create a fictitious company in the same group as company ABC, and then copy company ABC's journals to a single group journal 

Answer: A 


Q2. What report can the administrator run to ensure that investments have eliminated correctly? 

A. The Verify Structures report to the group 

B. The report to view the summation accounts 

C. The report to view the integrated accounts 

D. The Reconcile Investments report for the group 

Answer: D 


Q3. Company A has a reconciliation difference in Sales (income account) of -1,000. and a Cost of Sales (cost account) of 1,001. The general configuration indicates that the status will be updated based on Total Difference. The largest difference that will be accepted for reconciliation is 1,000. What is the status for Company A? 

A. Reconciled, because the net Active/Passive difference is 0 

B. Processing, because Cost of Sales exceeds the largest acceptable difference 

C. Reconciled, because the total difference between Sales and Cost of Sales is 101 

D. Processing, because Active/Passive difference must always be zero 

Answer: D 


Q4. How can currency conversion be verified after running a consolidation? 

A. Check the log report that appears after consolidation is run. 

B. Execute the calculation report created for currency conversion. 

C. Run the Currency Conversion report for the group company. 

D. Run the journals across report for the group after consolidation. 

Answer: C 


Q5. Why is the offset account for certain investment elimination control tables the same? 

A. So that investment and intercompany eliminations are able to perform the same calculations 

B. So that automatic journals make a zero sum in the offset account in the consolidated group 

C. So that currency conversion is easily performed and reconciled in the consolidated group 

D. So that when the administrator copies opening balances to another period, the administrator can reconcile and differences 

Answer: B 


Q6. How is data entered into company journals in Controller? 

A. Enter journals as detailed entries in the Company Journals window or as drill down details in the Reported Values window. 

B. Enter journals as detailed entries in the Company Journals window or as summation values per account type in the Reported Values window. 

C. Enter journals as detailed entries in the Company Journals window or as adjustment columns in the data entry form. 

D. Enter journals as detailed entries in the Company Journals window or upload the entries in the Reported Values window. 

Answer: C 


Q7. Which of the following is true of the Excel Link? 

A. Only group journals for periods that have been initiated can be entered. 

B. Only reported values for periods that have been initiated can be entered 

C. Only intercompany values can be entered. 

D. Only shareholdings and investments can be entered. 

Answer: B 


Q8. A Controller administrator wants to eliminate intercompany balances prior to consolidating the data. To do this, the administrator must create a control table. What must the administrator specify for this control table? 

A. Receivable/income accounts, payable/expense accounts, I/C difference posting 

B. Receivable/income accounts, offset account, payable/expense accounts, I/C difference posting 

C. Receivable/income accounts, payable/expense accounts, offset account 

D. Payable/expense accounts, I/C difference posting, offset account 

Answer: B 


Q9. What effect does locking at the company level have on the closing version? 

A. It ensures that a consolidation by steps cannot be run at the group level. 

B. It ensures that journals associated with the closing version cannot be posted. 

C. It ensures that intercompany adjustments cannot be entered in forms. 

D. It ensures that security groups will function properly when consolidating. 

Answer: B 


Q10. How can an administrator configure Controller in such a way that intercompany balances will be eliminated automatically? 

A. Setup the automatic journal to eliminate intercompany balances and configure control tables for each intercompany pairing. 

B. Set up the group journal to eliminate intercompany balances and configure company journals for each intercompany pairing. 

C. Run a consolidation by steps and then look at the Reconcile Intercompany Balances report for the group company. 

D. Run a consolidation with status and then look at the Reconcile Intercompany Balances report for the group company. 

Answer: A