1. What are the settings you need to enable for ICP configuration?

Ans:
Recognize ICP entities in Entity Dimension (enable IsICP in member
attributes)
Recognize ICP accounts in Account Dimension (select “Y” or “R” to define
IsICP in member attributes)
Define plug accounts for ICP accounts

To set up an application for intercompany transactions, you must perform the

following actions:
a. Indicate the accounts that perform intercompany transactions and
indicate a plug account for each intercompany account (IsICP and
PlugAcct attributes in account metadata)
b. Indicate the entities that perform intercompany transactions (IsICP
attribute in entity metadata)

2. What will happen if we don’t define any plug account?

For normal transactions plug account is not applicable, the transactions or
accounts which needs to be eliminated at common parent level like ICP etc.,
needs the plug account, to ensure the correctness of elimination happened at the
common parent level. If you are not giving the plug account for those type of
transactions then as per accounting standards you may not generate the reports
and also your consolidation will become wrong figures.

For intercompany eliminations plug account will be needed, exactly to ensure the
correctness of ICP eliminations the system needs some sort of process, that is the
reason why we use Plug account.

If you are not using the plug account, you cannot process the ICP eliminations and it
doesn't make any sense.

3. Is it possible to create ICP with out defining the Plug account?

No, i think it is not possible.

4. What is switch sign for Flow and switch type for Flow?
Switch-sign: Here you can change the account sign i.e, from Debit to Credit and Credit to
Debit vice versa .

● ASSET to LIABILITY
● LIABILITY to ASSET
● EXPENSE to REVENUE
● REVENUE to EXPENSE
● BALANCE to FLOW
● FLOW to BALANCE

If you observe above example, Asset Sign is Debit and Liability Sign is Credit, like
above mentioned examples showing the changing of account sign.
Switch-type : Here you can change the account type.

● ASSET to EXPENSE
● EXPENSE to ASSET
● LIABILITY to REVENUE
● REVENUE to LIABILITY
● BALANCE to FLOW
● FLOW to BALANCE

In this example Asset and Expenses are Debit sign accounts, in switch-type change of
accounts type will happen under the same sign.

Some time we have to change the nature and type of the accounts and transacctions
becuase only by end of the financial year a company will get to know whether it is net
loss or net gain for an year

For example Net profit(-) is revenue for every year to a company but one year if the
company gets net loss than ??

We cant change complete Metadata for that just 1 year for which we have to change the
nature of the transactions with accounts and this could be done in HFM by using Swich
sign for flow and Switch typr for flow.

Where in "Swich sign for flow" Assest will become liability and others same as below
what Naveen mentioned.

But How do we change the sign ?? This is done by writing a rule file.

Where in "Switch type for flow" is to change the nature of accounts(Type) - Income will
become liablity and expensses will become assests.

5. Let us assume if you have 100 users, how do you create security classes for them?
Through security file.

6. What is member lists? How many types of Member lists are there?
A member list is a subset of related members that belong to a single dimension.

Member lists can reduce the time that you spend browsing member hierarchies in
data grids an forms. For example, if Italy, France and Uk are used frequently in
the point of view for the entity dimension, your administrator can create a
member list named European Region. You can then select members from the list,
instead of browsing through the hierarchy of the entity dimension.

You can also use member lists in rules. Example, you can write a rule that
calculates all the members of a specified list.
 Member lists are also used in Financial reporting and web analysis.

Two types of member lists are used in Financial Management.

 System-defined member lists
 User-defined member lists

After an application is created and metadata is loaded, the system generates

system-defined member lists.
System-defined member lists group members according to common properties,
such as all children of a specified parent or all base members of a specified
dimension.

User-defined member lists are of two types: static and dynamic.

Static member lists contain user-specified dimension members. To add members

to static lists (for example, to add accounts to a static account member list, such as
Profit and loss), you must add the members manually.

Dynamic member lists contain members that, at run time, meet specified criteria.
Because the lists are built dynamically, they are updated each time that they are
retrieved. Example, all members with an Expense account type.

7. What is value dimension?

The Value dimension represents the different types of values stored in your
application, and can include the input currency, parent currency, adjustments,
and consolidation detail such as proportion, elimination, and contribution
detail. For example, the Entity Currency member stores the value for an
entity in its local currency. The Parent Currency member stores the value for
an entity translated the currency of its parent entity.

8. What is the difference between Parent and parent currency adjustments?

 parent currency adj : this attribute is used as translated currency journal
adjustments.

parent means root of a dimension

i.e if the member attribute having #root for that member only we are using

9. What is your current team size?

10. What are your roles and responsibilities?
11. What kind of tickets you get from the business users on regular basis?

12. How do you create forms? Tell me the POV for creating the form to enter the
CCY rates?
Data forms are templates, with predefined row and columns, that users can use to
input and view specified data elements. Users cannot add rows and columns to or
remove rows and columns from data forms.

Creating Data Forms with Form Builder

Financial Management provides a graphical user interface for creating and
maintaining data forms. You can enter up to 20 characters for the form label and
up to 40 characters for the description. In the Instructions text box, you can enter
instructions for use on the form. When the user selects the Instruction button, the
information is displayed in a separate window.
To create data forms with form builder:
1. In the application, select Adminstration > Manage Documents.
2. Select the Data Forms tab.
3. Click New.
The Form Builder is displayed with the Properties tab selected.
To define a data form, you use the options on the Form Builder tabs.
4. In the Label text box, enter a name.
5. In the Security Class drop-down list, select a security class.
6. In the Description text box, enter a description.
7. In the Instructions text box, enter instructions for using the form.
8. Click Next.

Then define the point of view, by specifying member column dimensions as well as
selectable column dimensions.

Define the columns and rows to specify the members to be displayed in the columns and
rows.

Set the columns and row defaults:

Use the Details tab to set default display options for all rows and columns of a form.

Setting header defaults

You can specify defaults for headings for each dimension.
Exchange rate grid:
1. We put source currency in row and destination currency in column
2. Take custom1 and account in row and custom2 in column in grid settings
3. Tick exchange rates in account dimension
4. Click on system-difined membetlist in custom1 and custom2 and select source
currency and destination currency
5. Select background pov as
Scenarion, year, period, entity as None, ICPNone, value as <entity currency> or
[none], custom3 as [none] and custom4 as [none]

13. Is it possible to Export and import the users from shared services?
14. How many entities are there in your project? How many application users are
there?
15. What is LCM?
LCM is Life cycle management used for migrating users and articrafts in
shared services in 11 version

16. What is meant by holding company?

Holding companies are used in statutory consolidations, for which the ownership
structure may or may not match the dimension hierarchy. The Holding Company
property identifies the owner of a member; the owner is not necessarily the parent
of the member in the hierarchy.

17. To get e-mail alerts, what option you need to enable in process management?
We should Select A to enable process management with email alerts by
scenario.

18. What is PVA method? What is the use of this method?

PVA Method
The Periodic Value Add (PVA) method:
1. Translates just the YTD change from the previous period at the current period’s
exchange rate
2. Adds this to the previous month translated balance

PVA Method
The default translation method is the value at the exchange rate method. This
method translates the entire current period balance at the current period exchange
rate.

With the periodic value add (PVA) method, only the current month change in the
YTD value is translated at the current period exchange rate. The translation result
is added to the balance from the previous period, translated at the exchange rate of
the previous period.

For example, the January YTD balance in local currency is 50 and the exchange
rate is 1:3. The YTD local currency balance for February is 75 and the exchange
rate is 1:2.
 Here are the two ways that you can determine the February translated value:
• The value at exchange rate method translates the entire February local currency
balance (75) at the February exchange rate (1:2), for a translated balance of 150.

• The PVA method calculates the change between the January and February local
currency balance (25) and translates the change at the February rate (1:2), for a
translated value of 50. It adds this result to the translated January balance (150),
for a February translated balance of 200.

19. What is the difference between Consolidate, consolidate all, consolidate all with
data?
When we click on Consolidate all the amounts will be consolidated as per the
hierarchies given but it takes lot of time to calculate. To reduce the time we have
to use consolidate with data, it consolidates only given values at present. It
reduces the load on the server.

Consolidate: Available for any parent entity with a status of CN or CN ND.

When you select this option for a parent entity, the system performs calculations
(Calculate, Translate, and Consolidate) for any dependent entity that has a status
of CN, CN ND, CH, TR, or TR ND.
Consolidate is the most efficient option because only entities that require
consolidation are updated.

Consolidate All: Available for any parent entity, regardless of its status.
Consolidate All consolidates all intersections of the dependants, whether data
exists or not.
The system also executes any calculation rule that exists for the dependent
entities. This option is useful when an update from prior periods is required or
when an entity with no data needs to be populated using allocations.

Consolidate All With Data: Available for any parent entity, regardless of its
status.
Consolidate All With Data consolidates every dependent entity that contains data,
regardless of its status. The system also executes any calculation rules for the
dependent entities.

20. What is process management?

Process Management is the management of the review and approval process. Data
is grouped into process units for review. A process unit is the combination of data
for a specific scenario, year, period, and entity.

21. What are the different consolidation methods?

Consolidation is the process of gathering data from descendants and aggregating
the data to parent entities. After you enter or load data into base level entities, you
 run a consolidation for a selected scenario and period to aggregate the data
through the organization.

22. What is minority interest?

In HFM:
Relates to ownership management, it will arrived by the formula
PMIN = PCON-POWN

Percent of minority interest is equal to Percent of consolidation minus percent

ownership.

23. What are the functions you defined in your financial reporting?
24. What is the complex report you developed?
25. What is the architecture of your project?
26. What kind of testing you have done in your project?
27. To do the drill down in GRIDS, what options you need to enable?

Varun and Prajeev deloitte

1. What is the use of phased submission phases and how it will be used for top level
management?
2. What are the 4 dimensions which forms Value dimension
3. Can we use the custom dimensions in any order?
4. 100 reports developed in production client, for testing purpose I have moved to
test client. How can I connect to database for all the reports at a time?
5. What are the complex rules you developed?
6. What is the use of ICP dimension

7. There an account which is ICP account, when we run consolidation value should
not get eliminated. What we need to do?
8. Explain me the functionality of Org by Period option and use of it
9. What is currency translation? What are the settings that need to be enabling for
currency translation?
10. Is it possible to translate the values from Application CCY to another currency? If
so how would you achieve this?
11. Where do you transfer the net income?
12.
13. What is the use of ConsolidateYTD attribute in scenario dimension? Very very
Imp
14. What is the difference between parent and parent currency ( more important
question)? Very very Imp
15. What is a proportion?
16. What ICP aggregation weightage?
17. In data file how the value dimension will be mentioned? ( CCY field is Value
dimension field)
18. SWITCH sign for Flow and type for FLOW? Very very Imp
19. A has two Childs B and C, X has two Childs Y and Z.
Now I don’t C to be consolidate to parent A, I want it to be Consolidate to parent X.
How do you achieve this?