Oracle Cloud GL flashcards
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32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Primary Ledger
- The required ledger for a legal entity that records accounting in its functional currency and is attached to the legal entity's registration; each legal entity has exactly one primary ledger.
- Secondary Ledger
- An additional ledger attached to a primary ledger to record the same transactions under a different accounting basis, chart of accounts, calendar, or currency for reporting or statutory purposes.
- Reporting Currency Ledger
- A ledger that holds only translated balances in a specified currency for reporting convenience; it is not used for transaction processing or manual journal entry.
- Legal Entity
- A registered organization with its own tax and legal reporting obligations; it is associated with one primary ledger and may own business units that process transactions.
- Subledger Accounting
- The rules engine that creates journal entries from subledger transactions using journal line rules and account rules, then transfers the resulting journals to the General Ledger.
- Accounting Calendar
- A required ledger component that defines the fiscal periods and years used to record and report accounting activity; periods can be monthly, quarterly, or a custom pattern.
- Journal Source
- An attribute identifying where a journal originated, such as Payables, Receivables, or Manual; it controls posting, reversal, and import behavior for the journal.
- Business Unit
- A unit that groups transaction processing for one or more ledgers; it determines which transactions are processed together but does not itself define accounting.
- Chart of Accounts Structure
- The key flexfield definition containing the segments, their order, and value sets; it determines how account combinations are validated and displayed across ledgers.
- Value Set Validation
- The rule controlling which values a segment accepts: Independent, Dependent, Table, or Special; it determines whether values are free-form, list-based, or validated against a table.
- Balancing Segment
- A segment qualifier marking the segment used to enforce balanced journal entries per value and to drive intercompany balancing and retained earnings calculations.
- Natural Account Qualifier
- A segment qualifier that classifies each account value as asset, liability, equity, revenue, or expense, enabling financial statement line mapping and closing behavior.
- Dynamic Insert
- A ledger and COA setting that allows new account combinations to be created automatically when a journal is entered, rather than requiring pre-defined combinations.
- Data Access Set
- A security definition that grants a user access to specific ledgers and, optionally, to specific balancing segment values or management segment values within those ledgers.
- Retained Earnings Account
- A ledger option specifying the account that receives net income or loss when the year is closed; it is required for year-end close processing.
- Period Status
- The state of an accounting period for a ledger, such as Open, Closed, Permanently Closed, Never Opened, or Future Enterable, which controls whether journals can be posted.
- Conversion Rate Type
- A named set of currency rates, such as Spot, Corporate, or User, that provides daily, period-end, and historical rates used for revaluation and translation.
- Journal Approval
- A ledger option and rule set that routes journals to approvers before posting; unapproved journals remain unposted until the approval workflow completes.
- Journal Posting
- The process that validates a journal against open periods and valid accounts and then updates GL balances; only posted journals affect financial statements.
- Reversal Method
- The rule that determines how a reversing journal is generated: Change Sign swaps debits and credits, Switch Debit/Credit flips signs on the same accounts, or No Reversal.
- Recurring Journal
- A journal template with a schedule that generates new journal entries each period for a specified number of periods, each linked to the originating template.
- Suspense Posting
- A ledger option that allows an unbalanced journal to post by sending the difference to a designated suspense account instead of rejecting the entry.
- Revaluation
- A period-end process that restates foreign-currency-denominated balances at a new rate and posts the unrealized gain or loss to a designated revaluation account.
- Translation
- The process of converting an entire ledger's balances into a reporting currency using period-end rates for assets and liabilities, average rates for income, and historical rates for equity.
- Consolidation
- The process of combining balances from multiple subsidiary ledgers into a parent ledger, applying elimination rules for intercompany balances and minority interest.
- Close Checklist
- A sequenced list of period-close tasks with owners and dependencies; required tasks must complete before the period can be closed.
- Allocation Pool
- The source amounts an allocation distributes, defined by account ranges, amount type, and ledger; it can include actual or statistical balances.
- Allocation Basis
- The driver used to distribute a pool across targets, such as proportional account balances, statistical headcount, or an even split.
- Allocation Offset
- The account that receives the balancing side of an allocation entry so that the generated journal remains balanced while targets receive the distributed amounts.
- Account Group
- A reusable set of accounts defined by parent values or explicit ranges, used as a building block for allocations, reports, and summary balances.
- Financial Reporting Studio
- A report design tool where rows, columns, and a point of view define a report against GL balances; reports are published to report sets and dashboards.
- Smart View
- An Excel add-in that provides ad hoc queries, pivot analysis, and data entry against GL and EPM data using the same dimensional model as Financial Reporting.