Here we are starting the series on HFM Interview questions. We would be presenting frequently asked HFM interview questions in Four part series. EPM Stands for Enterprise performance management and it is set of analytic process and tool that allow Business to identify, track measure and achieve goals. 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.
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Free Computer Training..!!! What is HFM? What is Consolidation? Consolidation is aggregating the Base level entities amounts with the Parent level entities amounts.. How many standard dimensions are there in HFM? There are 8 standard dimensions in HFM. How many Custom dimensions are there in HFM? Ans: Here you need to answer as per your HFM version. Ex: 9 version to After that versions are like Note: Custom dimensions names are not standard.
Those are changed to project to project. Can you please Explain 8 standard dimensions? Ans: Those 8 Standard dimensions are like. Ans: Hyperion Financial Management is designed to operate as a multi-tier system. Client tier:. You can display data and metadata, enter data, and maintain metadata in this tier. Web tier:. You can access the Web-enabled portions of Hyperion Financial Management in this tier.
The Hyperion Financial Management Web client contains all functionality available in the Windows client with the exception of security administration. Middle tier:. Database tier:. What are HFM services you need to start? Hyperion Web Service Manager. Hyperion Workspace- Agent Application. Hyperion Workspace- Web Application. Services dependency means? Ans: Hyperion is dependent on services. Means services are to be started in a specified sequence only.
How many Environments do you having in your Project? Ans: We having 3 environments. Those are. Development Environment. QA Environment. Production Environment. What is application profile; can we change application profile at any point of time?
An application profile contains language, calendar, frequency, and period information for an Application. No, application profile once created cannot be changed. What are the dimensions will be covered while creating Application Profile. Ans: Year, Period, View. How many Account types in HFM?
Explain those Account types in account dimension? Ans: There are 10 account types -. Balance recurring. Group label. Currency Rate. What is COA? What is the difference between switch sign for and switch type for and in which dimension it exists? Ans: It exists in custom dimension. What does a balance sheet contain? Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. What does an income statement contain rough outline? It displays the revenues recognized for a specific period, and the cost and expenses charged against these revenues, including write-offs e.
The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported. Give me some report names that you have created in project? Ans: You can say Actual book, budget book, forecast book etc. Ans: Consultant is not the one who decides to take either avg-rate of EOM rate; client will decide it time to time. What is good will? The difference between the purchase price and the sum of the fair value of the net assets is by definition the value of the "goodwill" of the purchased company.
The acquiring company must recognize goodwill as an asset in its financial statements and present it as a separate line item on the balance sheet. 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.
Ans: There is no relation between account type and translation. Child entities have data, but there is no data in parent entity? What could be the reason? What is ICP? The Intercompany Partnership Dimension provides an efficient way to identify, report, and reconcile intercompany account differences. With the ability to view detail transaction at any time, you can reconcile intercompany account differences frequently and thus minimize their impact on the closing cycle.
Following are system defined members for ICP dimension. When you create an application, Intercompany Partner members are automatically created for the application. You can modify only the description and security class for ICP members.
All other attributes are predefined and cannot be modified. How to setup ICP? Y means what? N means what? R means what? Y- Yes. N- No. Explain ICP Members.
ICP None. ICP Entity. Explain ICP Process? Un Match. Un Post. Reason Code. What is Tolerance amount? Ans: Tolerance amount is small discrepancies in the amounts in Intercompany Transactions. How do you eliminate intercompany transactions?
Ans: Intercompany transactions are eliminated through plug account. Create plug account in account dimension.
Load the ICP rule file. How many plug accounts we can create? Ans: In HFM, we can create number of plug accounts, but based on requirement we will create the plug accounts for elimination process.
You are not able to load ICP transactions. What is the Reason? Select Manage IC Periods. From the Scenario drop-down list, select a scenario for the period.
From the Year drop-down list, select a year for the period.
Top Hyperion Interview Questions And Answers
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Hyperion Financial Management Interview Questions
Oracle Hyperion Financial Management HFM is a comprehensive Web-based application that delivers global financial consolidation, reporting and analysis in a single, highly scalable software solution. TB First: in the Sample. For example, the value for Qtr1 is the same as the value for Jan. TB Last: in the Sample. For example, the value for Qtr1 is the same as the value for Mar. Essbase is an file based database where the data is stored in PAG files of 2 GB each and grows sequentially. Hyperion Planning is a budgeting and forecasting application from Oracle formerly owned by Hyperion Solutions Corporation.
Hyperion Financial Management Interview Questions & Answers
Some Journals we use repeatedly. So, for that purpose, we will create recurring templates. By using the recurring templates, we will create recurring Journals.. If we create a journal as Auto Reversing Journal, the journal will post in the next period by reversing the Debit and Credit. Then we have to perform currency translations in Explore data module by using custom dimensions and value dimension.