Hyperion Financial Management Interview Questions & Answers

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Hyperion Financial Management Interview Questions & Answers

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Hyperion Financial Management Interview Questions

Hyperion Financial Management Interview Questions
    1. Question 1. What Is A Recurring Journal?

      Answer :

      Some Journals we use repeatedly.  So, for that purpose, we will create recurring templates. By using the recurring templates, we will create recurring Journals..

    2. Question 2. What Is An Auto Reversing Journal?

      Answer :

      If we create a journal as Auto Reversing Journal, the journal will post in the next period by reversing the Debit and Credit.

    3. Question 3. How Will You Perform Currency Translations?

      Answer :

      First we have to create/define all the currencies in the Meta Data Item called currencies. Then we have to perform currency translations in Explore data module by using custom dimensions and value dimension.

    4. Question 4. How Will You Perform Review Process?

      Answer :

      To perform Review process, we should have the “Review Supervisor” Security authority. In Explore Data Module, we will perform Process Management.

    5. Question 5. Sometimes, We Cannot Post A Journal. What Will Be The Reason?

      Answer :

      In Entity Dimension, we should check the “allow adjustment “property.  And the period in which we created the journal should be kept open. And we should have the security authority to create journals.

    6. Question 6. What Is Consolidation?

      Answer :

      Consolidation is aggregating the Base level entities amounts with the Parent level entities amounts.

    7. Question 7. How Do We Migrate Application From Server To Server?

      Answer :

      We migrate application with copy application utility. Another way of migrating application is traditional way that is extract all required files from development and load same files in production.

    8. Question 8. How Do You Enable Rules To Customize Consolidation?

      Answer :

      Application Settings -> consolidation Rules -> Y

    9. Question 9. What Is Translation?

      Answer :

      It is Currency translation happens when a parent entity's default currency is different from a child entity's default currency. Runs when you choose Translate or Consolidate.

    10. Question 10. What Is Adjustment?

      Answer :

      Adjustment is to correct the data. It is done by Journals at value dimension member Entity currency Adjs and Parent curr Adjs.

    11. Question 11. What Is The Difference Between Consolidate, Consolidate All And Consolidate All With The Data?

      Answer :

      Consolidate: only entities that require logic or consolidation are updated by the system.

      Consolidate All with Data: option is available for any parent entity regardless of its status. NODATA are skipped.

      Consolidate all: any Parent entity regardless of its status. NODATA are also consolidated.

    12. Question 12. How Can You Cancel Consolidation?

      Answer :

      HFM Web client -> Administration -> running Tasks -> click on the Red button

    13. Question 13. What Is Icp?

      Answer :

      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.

    14. Question 14. You Are Not Able To Load Icp Transactions. What Is The Reason?

      Answer :

      Cause: IC Period is not opened.

      Expand Tasks and select IC Transaction Tasks. 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. Select the check box next to each period that you want to open.

    15. Question 15. What Is Lcm Utility?

      Answer :

      LCM means Life cycle management which is in shared services.

      It is used to migrate configuration and artifacts. (Note: we cannot migrate data with LCM)

    16. Question 16. What Is Tolerance Amount?

      Answer :

      Tolerance amount is small discrepancies in the amounts in Intercompany Transactions.

    17. Question 17. What Are The Types Of Consolidation And Methods Of Consolidation?

      Answer :

      Types:

      1. Legal Consolidation
      2. Geographical Consolidation
      3. Consolidation by entity

      Methods:

      1. Consolidate
      2. Consolidate all
      3. Consolidate all with data

    18. Question 18. What Is The Difference Between Switch Sign For And Switch Type For And In Which Dimension It Exists?

      Answer :

      It exists in custom dimension

      Switch sign for: It is ticked to change

      • ASSET to LIABILITY
      • LIABILITY to ASSET
      • EXPENSE to REVENUE
      • REVENUE to EXPENSE

      Switch type for: It is ticked to change

      • ASSET to EXPENSE
      • EXPENSE to ASSET
      • LIABILITY to REVENUE
      • REVENUE to LIABILITY
      • BALANCE to FLOW
      • FLOW to BALANCE

    19. Question 19. What Is Dynamic Member List?

      Answer :

      As dimension members are added and deleted, the dynamic member list automatically reflects the changes by reapplying the user-defined criteria.

    20. Question 20. What Are The Balance Types Of Journals?

      Answer :

      • Balanced
      • Un Balanced
      • Balanced by entity

    21. Question 21. Can We Load Data In Multiple Currencies Per Entity?

      Answer :

      • You cannot load multiple currencies to one entity, because in attributes you can give only one currency in Def Currency.

    22. Question 22. What Is Data Lock?

      Answer :

      A user-controlled mechanism that prevents changes to data according to specified criteria, such as period or scenario

    23. Question 23. How Do You Lock The Data?

      Answer :

      Select Lock/Unlock IC Entities and Select Scenario, period year and click lock

    24. Question 24. How Do You Eliminate Intercompany Transactions?

      Answer :

      Intercompany transactions are eliminated through plug account.

      Steps:

      • Create plug account in account dimension
      • Tick the check box called IS ICP in account dimension
      • Tick the check box called IS ICP in Entity dimension
      • Load the ICP rule file.
      • Then automatically the difference between the Intercompany transactions will be transferred to plug account

    25. Question 25. What Is Triangulation?

      Answer :

      A means of converting balances from one currency to another via a third common currency. In Europe, this is the euro for member countries. For example, to convert from French franc to Italian lira, the common currency is defined as European euro. Therefore, in order to convert balances from French franc to Italian lira, balances are converted from French franc to European euro

      Triangulation means doing translation from source currency to any currency other than destination currency.

      Example:

      If u have USD, EURO & YEN our source currency is USD & destination currency is YEN if u want to translate from USD to EURO, system will translate first from USD to YEN & then YEN to EURO in reverse manner.

    26. Question 26. Services Dependency Means?

      Answer :

      Hyperion is dependent on services. Means services are to be started in a specified sequence. only

    27. Question 27. How Do You Load The Data Into Hfm?

      Answer :

      HFM directly cannot take the data from ERP packages. So the data should be downloaded from ERP and loaded into Upstream tool like FDM and ODI etc. Then it should be mapped with HFM. And then load that into HFM.

    28. Question 28. What Is Hfm Architecture?

      Answer :

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

      Client tier: 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.

      Web tier: The Web server tier contains the Web server. 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: The middle tier contains the domain intelligence and connections to the relational database.

      Database tier: The data tier contains the relational database and all Hyperion Financial Management data and metadata.

    29. Question 29. How Many Account Types In Hfm?

      Answer :

      We have 10 Account types in HFM.

      Note : Please refer Account dimension in Metadata.

    30. Question 30. How Do Different Cell Colors Indicate In Hfm? (ask Any Specific Color)?

      Answer :

      • Blue- Header cell
      • Off White -An input cell. You can manually enter or edit data.
      • Light Yellow -Locked or derived cell
      • Light Gray Text -No write or Read access, or may be derived data
      • Dark Yellow-Indicates one of these conditions:
      • Cell data has been modified but has not been saved
      • The input status is OK, but the status of the adjustment is not OK (CH, CN, or TR)
      • Light Green -Allows allocations and derived data
      • Dark Green -Read-only
      • Orange -Invalid POV (Point of View) intersection

    31. Question 31. How Many Types Of Adjustments We Can Post.?

      Answer :

      In HFM we have:

      • Entity Currency Adjs
      • Parent Currency Adjs
      • Parent Adjs
      • Contribution Adjs

    32. Question 32. Journal Review Process?

      Answer :

      1. Create journal.
      2. Submit the journal.
      3. Receive approval or Reject.
      4. Post journal.

    33. Question 33. How Many Level Of Security In Hfm?

      Answer :

      1. User authentication
      2. Task securities
      3. Document securities (Data grids and forms, journals, reports)
      4. Data security

    34. Question 34. How Many Plug Accounts We Can Create?

      Answer :

      In HFM, we can create number of plug accounts, but based on requirement we will create the plug accounts for elimination process.

    35. Question 35. How Many Access Levels For Security Classes In Hfm

      Answer :

      1. All
      2. Metadata
      3. Read
      4. Promote
      5. None

    36. Question 36. What Is Good Will ?

      Answer :

      Goodwill in financial statements arises when a company is purchased for more than the fair value of the identifi able  net assets of the company. 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.

    37. Question 37. What Are The Types Of The Reports Used In Your Project. What Does Each Report Contain In Brief?

      Answer :

      Reports are not specific it will be created as per client requirements

      Example: Forecast book, Audit book in each book almost balance sheet, income statement, cash flow statements will be there.

    38. Question 38. How Many Instances Have You Used In Your Project?

      Answer :

      Environment like Development, testing , production.

    39. Question 39. Explain About Member Attributes?

      Answer :

      Member attributes are differed from dimension to dimension; every dimension member will be having importance to their respective areas.

    40. Question 40. What Is Alternative Hierarchy?

      Answer :

      For different reporting purposes we will create alternative hierarchies, in alternate hierarchy one member can be shared by more than one parent, but the default parent will be only one.

    41. Question 41. Enable Metadata Security Filtering?

      Answer :

      This setting specifies whether users of an application see all dimension members or only those to which they have access. (Means we can see the metadata particular entity only which we have right)

    42. Question 42. Where Is Hfm Data Available?

      Answer :

      Data is stored at the cells formed by the intersection of the members of the different dimension members in the sub cube. All aggregations and calculations are performed on data in sub cubes retrieved into RAM on the application server. And I hope the data also be available in the database server.

    43. Question 43. How Do You Create Icp Member In Hfm?

      Answer :

      Following are system defined members for ICP dimension.

      [ICP Top] Specifies the top intercompany member[ICP None] Specifies that no intercompany member is used
      [ICP Entities] Specifies the entities that are designated for intercompany transactions

      The System will automatically creates a ICP member when you select the IsICP attribute, see the below for your reference.

      When you create an application, Intercompany Partner members are automatically created for the application. An ICP member is created for each Entity member for which the IsICP attribute is selected.

    44. Question 44. Explain About Entity Curr Adj Member In Hfm?

      Answer :

      Basically value dimension members are inter-related with so many areas in HFM, but in brief talking about Entity Curr Adj you can make any adjustments using journals into this particular value dimension, here you can perform caluclate and posting journals.

    45. Question 45. What Is Application Profile, Can We Change Application Profile At Any Point Of Time?

      Answer :

      An application profile contains language, calendar, frequency, and period information for an application. You can use a profile for more than one application. For each application that you create, you must specify an application profile.

      You can not modify the application profile once it was created.

    46. Question 46. What Are Custom Top Members?

      Answer :

      • The Custom top member for the account
      • The specified member, including all descendants, is valid for the account

    47. Question 47. What Is Data Audit In Hfm?

      Answer :

      You can use the Data Audit feature to view data changes performed by users. You can filter the data changes by date range, application server, user, and the dimension members of cells.

      You can audit Scenario and Account members by setting the Enable Data Audit metadata attribute to Y for the scenarios and accounts to audit. To turn off auditing of Scenario and Account members, change the Enable Data Audit attribute to N.

    48. Question 48. What Is Minority Interest In Hfm?

      Answer :

      Relates to ownership management, it will arrived by the formula

      PMIN = PCON-POWN

      Percent of minority interst is equl to Percent of consolidation minus percent ownership.

    49. Question 49. How To Get Prior Year Retained Earnings?

      Answer :

      By using rules we can achieve it

    50. Question 50. What Are Different Ways Of Running Consolidation In Hfm?

      Answer :

      • Manual consolidation by using grids.
      • Consolidation using task automation
      • Custom consolidation by using rules.

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