Hyperion Financial Management Interview Questions & Answers

1. What is HFM?

Ans: Oracle Hyperion Financial Management is a financial consolidation and reporting application built with advanced Web technology. It provides financial managers the ability to rapidly consolidate and report financial results, meet global regulatory requirements, reduce the cost of compliance and deliver confidence in the numbers.

2. How many standard dimensions are there in HFM?

Ans. There are 12 standard dimensions in HFM.

3. How do you create members in HFM?

Ans: Using manage metadata, we create child or sibling.

4. How do you create ICP members in HFM?

Ans: ICP members are not created by us directly. In Account/Entity dimension, if we check IsICP, then the system will consider the member as an ICP member.

5. Explain about Enity curr adj member in HFM

Ans: We give entity currency adjustments to POV when we are loading journals.

6. What are rules used for? How many rules an application can have?

Ans. Rules are used to automate the calculations of data within an application. An application can have

Rules are used to:

·         Calculate data entry level amounts for a specific entity, scenario and period.

·         Prevent data entry for a specific cell in a specific entity, scenario and period.

·         Allow input at the parent entity level.

·         Calculate data that cannot be calculated through a hierarchical aggregation such as ratios or variance analysis.

·         Perform allocations from a parent entity to a list of base entities.

·         Perform complex currency conversions, calculate exchange rate differences or perform other calculations necessary for your consolidation.

·         Define formulas to dynamically calculate accounts.

·         Specify the accounts in the application that support inter company transactions.

7. What is application profile, can we change application profile at any point of time?

Ans. An application profile contains language, calendar, frequency, and period information    for an Application. No, application profile once created, cannot be changed.

8. What are custom top members?

Custom top member is a member of Account Dimension, where we have to mention which top member in the hierarchy of a custom dimension is valid for the account. Only the specified member, including all descendants, is valid for the account.

9. What is the Node security?

Ans: Node security is a member in Application Settings. There are 2 parameters- entity level/parent level. If we mention entity level. Security is given at the node level. If we mention parent level, security is given at parent level (including its children).

10. What is data audit in HFM?

Ans: 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.)

11. How to get Prior year retained earnings Through History data?

Ans: We need to write a rule for it.

12. 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)

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.

13. 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. 

14. What does an income statement contain (Rough outline)?

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

15. What does a balance sheet contain?

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

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

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

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

Ans: Default or view access.

18. Where do you give roles to user?

Ans: In Shared Services.

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

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

20. What are the combinations to enter exchange rates?

Ans: 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.

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

Ans: There is no relation between account type and translation.

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

Ans: Parent account type is ‘Group Label’

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

Ans: Allow adjs is enabled or not.

24. What are member lists? Have you used any?

Ans: 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.

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

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

26. Can I display line item details in any report?

Ans: No

27. What are the differences between data grid and data form?

Ans: (a.) POV is not restricted in data grids & POV is restricted in data forms.

       (b.) We can print the form in data form but we don’t have it in data grid.

       (c.) We can export the data form to the excel file and import file and we can bring back the changes to the DB. This is called offline working on data forms.

28. How do you achieve closing process in HFM?

Ans: We are going to handle through process management.

29. Where is data stored in HFM?

Ans: RDMBS.

30. How do you take backup of HFM applications?

Ans: Using copy in utilities. This is available under HFM utilities. We can copy everything except data.

31. How do you migrate HFM application from one environment to another?

Ans: Using copy application in utility or LCM (Life cycle management).

32. How to set dimensions in HFM?
Ans: We are not going to set dimensions till 11.1.2.1 version. We have 12 standard dimensions.

33. How many types of account?

Ans: There are 10 account types- Asset, liability, revenue, expense, balance, balance recurring, flow, dynamic, group label, currency rate.

34. What is mean value dimension?

Ans: The Value dimension represents the 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.

35. Where is the translation done?

Ans: Translations can be done in data grid, data forms and at process management level.

36. What is meant by switchsignflow and swiitchsigntype?

Ans:

Switchshignforflow:

Specifies sign change (Debit or Credit) for FLOW accounts that use these rules:

1.      ASSET to LIABILITY

2.      LIABILITY to ASSET

3.      EXPENSE to REVENUE

4.       REVENUE to EXPENSE

5.      BALANCE to FLOW

6.      FLOW to BALANCE

Switchtypeforflow:

Specifies the account type change for FLOW accounts that use these rules:

1.       ASSET to EXPENSE

2.       EXPENSE to ASSET

3.       LIABILITY to REVENUE

4.       REVENUE to LIABILITY

5.       BALANCE to FLOW

6.       FLOW to BALANCE

37. What is ICP?

Ans: The Intercompany dimension represents all intercompany balances that exist for an account. This is a reserved dimension that is used in combination with the Account dimension and any custom dimension.

38. How to setup ICP? Y means what? N means what? R means what?

Ans: In account/entity dimension, we have an attribute list as IsICP.

Y-Yes

N-No

R- Yes AND the entity cannot use itself as ICP.

39. What is meant by plugaccount?

Ans: The plug account specifies the account name used for identifying discrepancies in intercompany transactions. The PlugAcct attribute is required when the IsICP attribute for the account is selected. It must be blank or the name of a valid account. If blank, intercompany eliminations for the account are not processed.

40. How many types of rule?

Ans: There are 8 types of rules- Calculate, Translate, Consolidate, Allocation, Input, No Input, Dynamic, Transactions.

41. What is meant by review process in HFM?

Ans: Process management is otherwise called as review process.

42. How to enable process management in HFM?

Ans: Goto Process Control à Start Process management. 

43. Define period dimension?

Ans: The Period dimension represents time periods, such as quarters and months. It contains time periods and frequencies by displaying the time periods in a hierarchy.

44. How to enable data audit?

Ans: We can enable data audit by checking ‘enable data audit’ attribute in account and scenario dimension.

45. Explain organization by period?

Ans: Organisation by period will allow you to maintain the hierarchies for different roll ups.

46. If entity x – currency Euro, and entity y- currency USD, means to see in dataform, which dimension is set in POV?

Ans:  Value & entity dimension.

47. What value dimension set for journal entry?

Ans: Entity currency adjustment

48. Write a rule to enter value for particular account?

Ans: We need to write input rule.

49. If we create user for journals, then user can post journal, suppose user can do unpost for journal?

Ans: Yes, only if the user has admin access.

50 . How can we see the icp without using dataform and grid

Ans: Using ICP Report.

51. What is HFM services you go to start?

Ans: HFM- DME Listener

Hyperion Foundation Open LDAP

Hyperion Foundation Shared Services - Web Application

Hyperion Workspace- Agent Application

Hyperion Workspace- Web Application

52. What is meant by validation rule and how to set?

Validation rules define the validation rule group. The rule table comprises of Display Value, Description, Rule Name, Rule Text, Type, Category, Seq and Rule Logic.

Validation Rule Group-It contains a set of administrator definged rules that perform checks and balances against the target system.

53.  How to connect the source with smartview?

Ans: We can connect to any data source listed in Connection Manager. Connecting to a data source

enables you to retrieve data into Excel.

➤ To connect to a data source:

1.     Select Hyperion > Connection Manager. For Office 2007, click Connect in the Connections section of the Hyperion ribbon.

2.    Connecting to a Data Source 372 In Connection Manager, select the data source to which you want to connect and click Connect.

3.     In the Connect to Data Source dialog box, enter the user name and password for the data source.

4.     Click Connect.

5.     Click Close to close Connection Manager.

54. HFM architecture?

Financial Management is designed to operate as a multi tier system.

1.     The client tier contains the user interface and the ability to communicate with the application

tier. You can display data and metadata, enter data, and maintain metadata in this tier.

2.     On the Web server tier, you access the Web-enabled portions of Financial Management.

3.     The middle tier contains the domain intelligence and connections to the relational database.

4.     The data tier contains the relational database and all Financial Management data and

metadata.

For more information Contact us at

http://www.techthinkerslab.com

Mobile:

+91- 9663034204

+1 - 8473806550(USA).

Mail ids:

contact@techthinkerslab.com

trainings@techthinkerslab.com

Thank You

Techthinkerslab Staff.