HFM interview Questions for quick recap on the tool

Hyperion Financial Management 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.

HFM - Hyperion Financial Management training  Questions and Answers

What is Configurable Dimensions?

Configurable Dimension allows the HFM administrator to set the number of custom dimensions in the application. For each dimension it is possible to set the size of the dimension and give a short name and a long name (alias). 

What are the benefits of Configurable Dimensions?

Configurable Dimensions provides HFM the flexibility lacking in the traditional tools with predefined fixed structures. HFM applications can be built with the exact number of custom dimensions needed. If 2 custom dimensions are necessary, then the application can be built with 2 dimensions. If it needs 4 or 6, the number of custom dimension can be set accordingly. Customer requirements drive the design and the structure of the application without constraints or compromises.

What kind of application can be built in HFM?

HFM is the preferred tool to create financial reporting applications. Management reporting and legal consolidation can be handled within the same application. Configurable dimension provides an expandable framework ideal to handle all the required details, whether it is operational or legal. For instance some dimensions can be used to analyze Product and Market information, while other dimensions for type of adjustments or eliminations. All the information in these configurable dimensions is automatically available in Web forms, Reports and in Excel using the SmartView module.

What is the “size” of a dimension?

The size of a dimension determines the total number of elements in the dimension. Depending on the size of the dimension, the system allocates in the database a different number of bytes for the index .

The size of a dimension can be either:

Large: 2 billions members (4 bytes used internally)

Medium: 32,000 members (2 bytes used internally)

Small: 128 members (1 byte used internally)

What is the minimum number of custom dimensions in an application?

The minimum is 2 custom dimensions. Technically the system requires these 2 dimensions to store the source and destination currencies for the exchange rates. The system will automatically create these 2 dimensions with a Large size.

What is the maximum number of dimension in an application?

The number of dimensions is limited by the total number of bytes used for all the index of these dimensions. This total must not exceed 40 bytes.

The system will always create the first two dimensions as Large, which will use 8 bytes. There will be 32 bytes remaining for additional customs.

When creating an application, can I mix Large, Medium and Small dimensions in the same application?

Yes. It is possible to create some custom dimensions as Large and other dimensions as Medium or Small.

What happens when I reach the maximum number of elements in a dimension?

Although the officially published maximum number of elements is 128; 32,000; 2 billions for Small, Medium, and Large dimension, internally the system can accommodate twice this number of elements. Once the maximum number of elements is reached in a dimension, it is not possible to create additional elements. The solution is then to create a new application and set the dimension with a larger size.

Can we delete elements in order to regain some index number for new elements?

No. The system does not reuse index number of deleted elements.

After the application has been created in a Development environment, it is recommended to create a brand new application for Production containing only the final version of metadata and using internally only the exact number of index

Does Configurable Dimension have an impact on performance?

Configurable dimension does not have a direct impact on performance. In an application where Calculation rules are correctly written, performance is driven by the amount of data in the application, not by the number of dimensions or the number of elements in each dimension.

Does adding dimension to an existing application have an impact on performance?

Adding dimensions to an existing application is likely to introduce more detailed reporting and therefore require additional data and additional calculation rules. These additional data and rules will have an impact on performance.

What is the optimal number of custom dimension?

There is no technical optimum number independent from the business requirements. For a specific application, the optimal number of dimensions is the smallest number of dimensions necessary to handle the business requirements.

Is usability better with more dimensions or fewer dimensions?

Usability is better with fewer dimensions. It will be easier for the users to view and set the Point of View with fewer dimensions. There will be less dimensions to use in Journals, Reports, Grids, Web forms, SmartView.

Should existing applications be modified following the introduction of configurable dimensions?

The existing applications can be converted using the migration utility, they can continue to be used as is. 

We have an existing application with 4 custom dimensions where only 3 custom dimensions are used. How can I remove the 4th unused dimension?

It is not possible to remove a dimension from an existing application. A new application must be created.

Should existing applications be redesigned to take advantage of configurable dimensions?

If the business requirements are the same, then the existing application should remain the same. If the reporting needs are evolving, then it is possible add new dimensions to the existing application.

How many custom dimensions should be used in an application?

The number of custom dimensions depends on the level of details of the reporting. When the same detailed analysis exist for multiple accounts, this detail should be created in a custom dimension. For instance, if Sales, Cost of Good Sold and Gross Margin must all be detailed by products, then it is advised to create a Product hierarchy in a custom dimension. When an account must be analyzed by a combination of details, for instance Sales by Product and also simultaneously by Market, then these details should be be created in separate dimensions. The more analytical details are required, the more dimensions are necessary. For instance, if Sales, Cost of goods sold and Gross margin must be analyzed simultaneously by Product, Market, Channels, and Packages, then it is advised to use 4 custom dimensions.

Can custom dimensions contain details of different natures?
 

Yes. A custom dimension can contain different type of details, as long as these details are used on different accounts. For instance if the P&L accounts are detailed by Products and the Balance Sheet accounts are detailed by Flows, then it is possible to use the same custom dimension for both details. Products and Flows will be created as separate hierarchies in the same dimension. When defining the accounts, P&L accounts will be associated with Product hierarchy and Balance Sheet accounts will be associated with Flow hiearchy.

Is it better to create more custom dimensions or fewer custom dimensions?

We believe it is better to create fewer dimensions because it will be easier for the user to navigate in the product. When possible we think it is better to use the same dimension for different type of details, using the top member attributes in accounts to define the correct intersections.

How does the system associate custom elements with accounts?

Like in prior version, the valid custom dimension elements are associated with accounts using metadata attribute< Dimension Name>TopMember.

Should I create the application with extra unused dimensions, just in case it will be needed later?

No. The application should be created with the exact number of dimensions required for the current business requirements. We will provide a separate utility to add custom dimensions to existing application. When a new dimension will be added to an existing application, all historical data will be preserved. The new dimension will contain a [None] element. The existing data will be set to [None] for the new dimension.

What is the impact of Configurable Dimensions on the User interface?

Several changes were made in the User Interface of the product to accommodate a variable number of custom dimensions. For instance, it is possible to control the dimensions displayed in the Point of View and also how the Point of View is displayed.

Are all Custom dimensions required when entering Journal?

Yes. In order to adapt the Journal module to a possibly large number of custom dimensions, the system can automatically move common elements from the rows to the page so that the user does not have to repeat the same element on every row.

How do the Rules work with Configurable Dimensions?

All existing functions continue to work. Some new generic functions have been created to handle applications with more than 4 custom dimensions.

How are custom dimension names and dimension alias used in the system?

Both custom dimension name and alias can be referenced in rules, web forms and system reports.

What is the impact of custom dimensions on the infrastructure platform?

There is no direct impact of custom dimension on the infrastructure. The infrastructure must be sized based on the number of concurrent users, the amount of data processed during consolidation, the amount of data processed in reports or other data retrieval mechanisms, the intensity of the calculation required. For best performance, 64 bit system using fast processors and large enough amount of memory is recommended.

How will you calculate minority interest in hyperion financial management?

ANS: We need to write in rules as PCon=POwn-PMin, to calculate percentage of minority     intrest.

                                  %Minority=%consolidation-%ownership

Why we are using hyperion? We are having many olap tools in the market. What feature makes 

hyperion unique with other tools?

Hyperion as compared to other tools is security used in the shared services. There is no IIS for   OLAp's but there is a IIS for HFM, If there is no IIS its time taking process to retrieve the financial data.

Can we have multiple databases in single applications?

yes.

Can we start and stop an application individually and how to increase performance using

this?

We can manage our server resources by starting only applications which receive heavy user traffic. When an application is started, memory is accompanied by all associated data bases.

Which type of tasks can you define in a task list?

data forms and data grids

What are the requirements for creating a dataform?

Created metadata design, users is necessary to create data forms

Can anyone explain the variable POV in TaskFlow automation?

 

the variables are only used to store the result of other stages as Success or Failure.  You will need to enter the POV for each stage.

What is the limitation of Scenario dimension? How many number of scenario's we can define in HFM Applicaiton?

ANS: no limitation

where the value will adjust after posting journal?

we can see the adjustments in data grid. After posting the journal the adjustable value comes under entity currency adjustments.

where the value stores after done icp eliminations?

the values are store under eliminations in value dimension.

when we change the value in dataform, is that value will effect the data grids or not?

no, because we can create the data forms through data grids only.

what is the importance of hyperion financial management?

Many finance executives face the daunting task of consolidating their Companies financial and operating results using spreadsheets that are difficult to maintain and audit.

What is recurring journal?

some journals we use rapidly. So, for the purpose, we will create recurring templates, we will create recurring journals.

What is an Auto Reversing Journal?

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

What is consolidation?

Aggrigating the data from base level member to the parent level members.

How will you perform Currency  Translations?                                                               

                                                                  

First we have to create 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.

Which sub routines of Rules will execute when you run consolidations ?

Calculate, Translation, Consolidation

How do you enable Rules to customize consolidation ?

Application Settings -> consolidation Rules -> Y

What is Translation ?

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.

What is Adjustment ?

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

What is the difference between consolidate, consolidate all and consolidate all with the data ?

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.

how can you cancel consolidation ?

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

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.

You are not able to load ICP tansactions. what is the Reason ?

Cause: IC Period is not opened.

expand Tasks and select IC Transaction Tasksà 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.

How to extract Intercompany Transactions ?

In the Browser View, expand Tasks and select Extract Tasksà Select Extract IC Transactions. From the Point of View bar, select the scenario, year, and period. Enter the names of the Entity and Partner dimension members, or click Browse to find the Entity and Partner members. Select to include one or more of the following options in the extract process: UnMatched, Matched, MisMatched, Posted, UnPosted, Reason Codes.

what is Tolerance amount ?

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

What are the types of consolidation and methods of consolidation

Types:

1.Legal Consolidation

2.Geographical Consolidation

3.Consolidation by entity

Methods:

1.Consolidate

2.Consolidate all

3.Consolidate all with data

What is the difference between switch sign for and switch type for and in which dimension it exists

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

       _ BALANCE to FLOW

       _ FLOW to BALANCE

        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

What are the types of journals?

 Recurring journal

 Reversing journal

 Auto reverse journal.

what are system defined dimensions?

value dimension, ICP dimension, 

How many custom dimensions are defined in HFM?

There are four custom dimensions defined in HFM like (Custom1,2,3,4.)

 

How many rules are defined in HFM?

There are 8 type of rules.

        1)calculation

        2)dynamic

        3)translation

        4)consolidation

        5)icp rule

        6)input, 7) No input, 8) Allocation

What is the difference between data form & data grid?

point of view is restricted in data from.

Data form supports for export& import of XL.

We will add and delete the data forms.

explain the scenario types?

Actual, Budget, Forecast.

what are the types loading data in HFM?

Merge, Replace, Accumulation, Replace by security.

Explain percent control and percent console?

percent control is upper boundary of consolidation percentage,

Percent console contains the actual percentage of consolidation.

Explain member list and define types of member list?

A member where we can use to see the data and modify the data is called member list.              System defined member list User defined member listà static and dynamic member list.

what are the HFM tasks?

collect & load, adjust, calculate, translate, consolidate, lock data, publish data.

Explain HFM Architecture?

HFM is designed to operate as a mlti tier system.

Client tierà user interface and ability to communicate with the application.

Middle tieràconnections to database

web tierà it contains web server and all functions of the application.

Database tierà contains RDBMS and all HFM data and metadata.

How do you load the data in to HFM?

HFM directly can’t take the data from ERP packages. Then loaded into FDM and mapped with HFM.

What is Triangulation?

A mean of converting balances from one currency to another via a third common currency.

How do you eliminate the intercompany transactions?

Intercompany transactions are eliminated through plug account.

What is data lock?

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

Difference between balanced, unbalanced and balanced by entity journals?

1) all debits and credits will be balanced

2) all debits and credits will not be  balanced.

3) All debits and credits are balanced for particular entity.

What is Dynamic memberlist?

 As the dimension members are added and deleted, the dynamic member list automatically

 Reflects the changes by replying the user defined criteria.

·        
1. How would you get the opening balance to a particular account using a rule (the balance is previous year of previous month)

You would use HS.EXP function. I also assume the question meant to say that the "the balance is the *ending/closing balance* of the previous year / previous month. If they want a specific answer it would be something like ....

HS.EXP "A#FlowAccount.C1#OpeningBalance = A#FlowAccount.C1#ClosingBalance.P#Prior.Y#Prior"

This assumes C1 has the flow activity and the account is 'FlowAccount' since they didn't give you the exact account name. I did not do anything with C2, C3, C4 as there's no explanation if they are being utilized or not, etc. Depending on what is the metadata for the application, you may need to specify those accordingly.

2. The data is exported to smart view in excel but the cells are showing zeros what could be the reason?

Multiple reasons

- You do not have Security Access to the data in question AND you set the Smartview Options to show NO_ACCESS as #NumericZero
- The data really is 0... :-)
- Sometimes Smartview gets a little haywire and when you refresh you will get all zero for no good reason. Another refresh or closing the file and reopening appears to solve this.
- There isn't any data for the enityt and you set the Smartview Options to show #NO_DATA/#MISSING as #NumericZero



3.What are the system messages??? Tell me some error messages?

System messages are items logged in the HFM Database log and/or Windows Event Log

Some common ones would be : Seeing notes when an applciation is loaded for the first time, when data cache is expanded, when consolidations/calculations start/finish, when errors occur.

4.How many rules we have in hfm?

Lots. Perhaps the question was how many main subroutines are in the rules file?

You would have Calculate, Consolidation, Translate, Input, NoInput, Dynamic
You can also create your own as part of writing rules and I would recommend breaking distinct pieces of code into subroutines and calling them from the main subroutines as opposed to trying to dump all of the code under Sub Calculate for example. It will be cleaner and less problematic....

5.What is the Node security if we put the yes or no in the node security what will happen? (In Entity scenario?)

I believe this is in regards to people having security access to children by granting them access to the corresponding parent.

6. What are the Error code 502? Or 400 some thing

These sounds like HTTP status codes to me; however, not very specfiic.....

5xx codes are generally Web Server 'Internal' type errors such as backend code exceptions or server errors. I'm not 100% sure on 502 as I don't memorize all of them.... I'm sure you can get this answer in 2 seconds googling HTTP 502.

400 HTTP Code doesn't sound at all familiar, did you mean 404? 404 is a very common HTTP status code that you will get when you try to get to a webpage that doesn't exist. A lot of websites try to make a custom error page for 404 errors to see who can be the 'cutest' about it. From a security standpoint, custom error pages are bad news and even returning the specific error code is bad...

7.What is data audit in hfm

The ability to audit data changes... I'm sure

Hyperion Financial Management Interview Questions & Answers Part-2

1. What is a Recurring Journal?

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. What is an Auto Reversing Journal?

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

3. How will you perform Currency Translations?

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. How will you perform Review Process?

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

5. Sometimes, we cannot post a Journal. What will be the Reason?

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. What is Consolidation?

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

7. How do we Migrate application from server to server?

    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. How do you enable Rules to customize consolidation?

Application Settings -> consolidation Rules -> Y

9. What is Translation?

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. What is Adjustment?

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

11. What is the difference between consolidate, consolidate all and consolidate all with the data?

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. How can you cancel consolidation?

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

13. 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.

14. You are not able to load ICP transactions. What is the Reason?

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. What is LCM utility?

 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. What is Tolerance amount?

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

17. What are the types of consolidation and methods of consolidation?

Types:

1. Legal Consolidation

2. Geographical Consolidation

3. Consolidation by entity

Methods:

1. Consolidate

2. Consolidate all

3. Consolidate all with data

18. What is the difference between switch sign for and switch type for and in which dimension it exists?

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. What is dynamic member list?

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

20. What are the balance types of Journals?

Balanced

Un Balanced

Balanced by entity

21 Difference between them?

Balanced: All the Debits and Credits will be balanced

Unbalanced: Debits and Credits will not be balanced

Balanced by entity: Debits and Credits for particular entity will be balanced

22. What is data lock?

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

23. How do you lock the data?

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

24. How do you eliminate intercompany transactions?

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. What is triangulation?

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. Services dependency means?

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

27. How do you load the data into HFM?                        

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. What is HFM ARCHITECTURE?

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. How many Account types in HFM?

We have 10 Account types in HFM (Please refer Account dimension in Metadata)

30. How do Different Cell Colors indicate in HFM? (Ask any specific color)?

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. about consolidation process in HFM?

32. What are the dimensions in HFM?

Total we have 12 dimensions in HFM, 8 standard dimensions and 4 custom dimensions up 11.1.121 Version

8 Standard dimensions

4 Custom dimensions names are not standard.

33. About the Value Dimension.?

In value dimension, there are two type of members one is system defined which you find in brackets and another one is user defined, whenever we define a currency the system will automatically creates 3 value dimensions based on one particular currency enter by the user.

If you observe here USD, based on USD system will create USD, USD adj, USD total. this is equal-ant to entity currency, entity currency adj, entity currency total. entity currency adj for adjustments like journals and entity currency total = entity currency - entity currency adj.

34. How many types of adjustments we can post.?

In HFM we have:

Entity Currency Adjs

Parent Currency Adjs

Parent Adjs

Contribution Adjs

35. Journal review Process:

1. Crate journal

2. Submit the journal

3. Receive approval or Reject

4. Post journal

36. What is node security?

By giving node security we can restrict user for seeing the value dimension members 

IF you set node security as parent only the members of the value dimension from <Entity Currency>up to and including <Parent Curr Total> are visible.

If you set node security as Entity, all members of the value dimension would be visible

37. How many level of security in HFM?

1 User authentication

2 Task securities

3 Document securities (Data grids and forms, journals, reports)

4 Data security

38. How many plug accounts we can create?

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

39. How many dimensions are system defined and how many dimensions are user defined and what are they?

At the time of application profile creation, based the data enter by us...

If you observe in above screen if we check include Half years, Include Quarters, Include months, the system will generate the period dimension members as well as view dimension members like YTD,HYTD,QTD,MTD and also 12 periods will be created automatically. And in the bottom based on the staring year and number of years the system will create the Year dimension members.

So 3 dimension members View, Period, Year will be created by the system and remaining dimension members will be created by the consultants.

because of this reason you can not able to see these 3 dimensions under manage meta-data.

40. How many Access Levels for Security Classes in HFM

1 All

2 Metadata

3 Read

4 Promote

5 None

41. what is good will ?

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

42. what is COA?

 COA is nothing but chart of accounts, what ever the members we will define under the account dimension will be called some times chart of accounts  (COA)

43. What are the types of the reports used in your project. what does each report contain in brief?

 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.

 44. How many instances have you used in your project?

Environment like Development, testing , production

45. We should not give the security for the below 3 Dimensions (We can give remaining 9 dimensions)

1. Year
2. Period
3. View

46. what is Hyperion Life Cycle management(LCM)?

 Lifecycle management is a component of Shared Services that provides a mechanism of moving artifacts – for example copying of web data entry forms from one application to another.

In prior versions (prior to 11 versions) items required extracting and loading. The ability to use Lifecycle Management is controlled via a unique role for which the user must be provisioned

Please see the below screen for you reference.

47. Explain about member attributes?

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

48. What is alternative hierarchy?

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.

49. Enable Metadata Security Filtering

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)

50. Where is HFM data available?

 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.

51. How do you retrieve data for your project/applications?

 Financial Management retrieves data from the Financial Management database in blocks called sub cubes.

See the below for your reference.

The mode of retrieving will be through data forms, data grids or smart view. 

In smart view we will use HS.Get function to retrieve the data.

52) HOW do you create members list in HFM?

Member list we can write with the function called list and we will save with extension .lst, once you uploaded the member list you can select the member in a particular POV working with different areas like journals, ICP etc., we can also create our own custom member list for different purposes.

53) How do you create ICP member in HFM?

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.

Note:

You can modify only the description and security class for ICP members. All other attributes

are predefined and cannot be modified

54) EXPLAIN about Entity Curr adj member in HFM?

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.

55) What are the rules used for? How many rules an application can have?

Rules is one of the area which makes HFM application more flexible with the custom procedures or consolidation etc.,

we have 8 subroutines in rules, and under each subroutine there will number of functions which makes rules simplify,

Calculation

Translation

Consolidation

Allocation

Input

Icp

No Input

Dynamic

56) 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. 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.

57) what are custom top members?

The Custom top member for the account

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

58) WHAT is the node security if we put the yes or no in the node

security what will happen? ( in entity scenario)

We can choose a parent or a entity  for node security, if you select either of one.

then you will be able to see the value dimension members which upper to parent Curr adj, normally up to parent curr adj we can able to see without node security.

59) What is data audit in HFM?

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.

60) what is minority interest in HFM?

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.

61) How to get prior year retained earnings?

By using rules we can achieve it

62) explain some rules you have used in your project?

Can say consolidation, calculation, ICP etc.,

63) what are different ways of running consolidation in HFM?

Manual consolidation by using grids.

Consolidation using task automation

Custom consolidation by using rules.

64. Organization by Period: New Entity exist (Consolidated or not)

65) What does a balance sheet contain?

In financial accounting, a balance sheet is a summary of the financial balances of  a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.

66) What does an income statement contain rough outline?

It  indicates how the revenue  (money received from the sale of products and services before expenses are taken out) is transformed into the net income  (the result after all revenues and expenses have been accounted for. It displays the revenues recognized for a specific period, and the cost and expenses charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets) and taxes.The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.

67) Give me some report names that you have created in project?

You can say Actual book, budget book, forecast book etc.,

68) Can in use any other rates other than avg- rate and EOM (Ending Of Month)- rate in

translation in HFM?

Consultant is not the one who decides to take either avg-rate of EOM rate, client will decide it time to time.

69. Icp Entity aggregation weight: consolidated purpose (put 1 means 100%)

70)  What is the minimum to role to be given to a user to access HFM?

Default

71) Where do you give roles to users?

In shared services under the provisions.

72) How do you know whether the consolidation has been done for a

particular entity or not in a particular month?

If you select a data grid for that particular entity, change the display options to calculation status there if you found CN or CN ND it means that that entity needs consolidation

73) Can we load data in multiple currencies per entity?

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

74) at what rate accounts will get translated and how you tell (or

define ) in the system?

Step1: we have to define the currencies in metadata under the “Currencies”

Here what are the currencies you will define it will be automatically stored under Custom 1 and Custom 2 under Currencies system generated member.

Here the currencies will have a relationship with value dimension

After you load metadata, Financial Management automatically creates three Value dimension members for each currency in your application: Currency Name, Currency Name Adjs, and Currency Name Total, where Currency Name is the currency label. For example, for a currency of USD, Financial Management creates the following Value dimension members: USD, USD Adjs, and USD Total.

Step 2: In entity dimension attributes we have to give the default currency for that particular entity.

By giving this whenever you select the “entity currency” in value dimension whatever the currency we have given the default currency it will execute that.

For example if you are looking for a form or report of the country US as we all know the currency for US is USD, here we can see the report in two ways in value dimension, either you have to select the currency “USD” or you have to select the “entity currency” when you select the “entity currency” it will take the default currency from the entity (in this case we will give the default currency fro entity as USD”) in both cases the result will be same. So here whenever you don’t know the entity currency the value dimension member “entity currency” will help us to see the report in the local currency.

Step 3: Application setting with regards to currency

Default Currency:  this means the ultimate parent currency in which we will generate the final reports.

Default Rate for Balance Accounts: For Balance sheet accounts we have to mention the default rate whether it’s closing rate or average rate (we need to create an account for average and closing rates)

Default Rate for Flow Accounts: For flow accounts (i.e., Income statement) we have to mention the default rate whether it’s closing rate or average rate (we need to create an account for average and closing rates)

Use PVA for Balance Accounts: Normally we will not select this for balance sheet accounts, because we will use closing rate for balance sheet accounts

Use PVA for Flow Accounts: When you are using Average rate for Flow accounts, in normal practice we will select this option for Flow accounts (i.e. Income statement)

Step 4: Once we finish these steps we will enter the currency exchange rates by using flat file or web form.

Normally People from client side will do this activity by entering in web form or data file.

75) what are the combination to enter exchange rates?

you can take the base currency in custom 1 and translated currency in custom 2 and you can give the exchange rates.
see below for your reference.

76. Custom aggregation weight:

In Node attribute (put 1 Means 100% consolidated)

77) Child entities have data but there is no data in parent entity what

could be the reason?

Probably consolidation may not happen at that particular point of time.

78) Not able to create journals for an entity what option do u check?

Allow Adj in entity dimension

79. Scenario: Zero view adjustments and Zero view Non adjustments

80) What is line item detail in HFM how to enter it?

If you select "Use line items" attribute in account dimension for a particular account you can do this.

for example in admin expenses you have different departments like sales, purchases, HR. you can enter 3 line items in account admin expense in grid. 

81. What is the Functions of Smart view?

1. Get value

2. Set value

3. Get text

4. Set text

5. Hs currency

6. Hs label

7. Hs description

8. Hs group

82) What is the difference between data grids and data forms?

There are so many things, please refer your note book.

83) Have you used data forms give me some example?

For data entry in to the HFM every client should  use data forms in some way. example for this Balance sheet, Income statement.

84) How do you achieve closing process in HFM?

Load Data

Calculate Data

Adjust Data

Translate Data

Approve Data

Lock data

Run and Publish

85) Where is data store in HFM?

Data is stored at the cells formed by the intersection of the members of the different

Dimension members in the sub-cube

86) How do you take back up of a HFM application?

Normal practice is copy application, back up of security, meta-data, data etc.,

87. The data is exported to smart view in excel but the cells are showing zeros what could be the reason?

This is because of the Zero view adjustments and Zero view non-adjustments in scenario dimension meta-data attributes.

88.What are the system messages??? Tell me some error messages?

You can retrieve, view, print, and delete system messages for Financial Management. You can retrieve system messages by date, server name, and application name. System messages remain in the log until you delete them. The system messages module is available only in the Web user interface

If a user doesn't have a proper access for a particular entity if he is repeating the same action, then an error will come in system messages "you dont have a proper rights to perform this action".

89. What are the Error code 502?  Or  400 some thing?

A 502 error is Internal Server error. Your web server will return that HTTP Response when the program running terminates abnormally/returns an unhandled exception.

A 404 error (probably it may be 400 error) is a file not found error that occurs when the Web Server receives a HTTP GET request for a file that does not exist on the server in the path specified.Usually occurs when a web.

90. WHAT is Statutory Hierarchy?

Statutory hierarchy means which fits for Legal requirement to submit the accounts of a company.

91. WHAT is Managerial Hierarchy?

Managerial hierarchy is for higher management it will gives you in-depth analysis for different areas. 

92. RESPONSIBILITIES of Migration?

The main thing you need to do after performing the migration is we have to check all the functionality in the application like, loading, extracting data, journals etc., like this we need to prepare a checklist and have to confirm every function is working perfectly.

93. What is the Account dimension attributes

Member

Description (English)

Account type

Is Calculated

Is Consolidated

Is Icp

Plug Account

Custom 1 Top Member

Custom 2 Top Member

Custom 3 Top Member

Custom 4 Top Member

Num Decimal places

Use line items

Enable Custom 1 aggregation weight

Enable Custom 2 aggregation weight

Enable Custom 3 aggregation weight

Enable Custom 4 aggregation weight

User defined 1

User defined 2

User defined 3

Security class

Icp Top member

Enable data auditing

Default parent

94. What is the Entity dimension attributes?

Member

Description (English)

Default currency

Allow adjustments

Is Icp

Allow adjustments for children

Security class

User defined 1

User defined 2

User defined 3

Holding Company

Security as partner

Default parent

95. What is the Scenario dimension attributes?

Member

Description (English)

Default Freq

Default View     Periodic

Zero view for Non adjustments

Zero view for adjustments

Consolidated       YTD

User defined 1

User defined 2

User defined 3

Security class

Enable data auditing

Support process management

Maximum review level     10

Use line items

Default Freq for icp transactions

Default parent

96. What is the Custom dimension attributes

Member

Description (English)

Switch sign for flow

Switch Type for flow

User defined 1

User defined 2

User defined 3

Security class

Submission groups

Default parent

97. What is the Currency dimension attributes?

Currency

Description

Scale

Translation operator            D,M(% ,*)

Display in ICT

98. Which Ticketing tool is used in your support project?

Remedy, Lotus, Service now (Please tell any one)

99. How do Different Cell Colors indicate in HFM? (Ask any specific color)?

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

99. Differences between Data Form and Data Grid

Data Form	Data Grid
1. It is end user purpose/client	1.It is a Group user purpose
2.we can Import and Export	2. We can't  Import and Export
3.We can restrict the POV	3.We can't restrict the POV
4.We can select the Excel (Smart View)	4. No selection for Data Grid.
5. We can link one form to another form.	5.Linking option is not available
6.Transalation is not possible	6.Transalation is  possible
7.Calculations not possible	7.Calculations are possible
8.We can done Scripting here	8. Not Scripting option here.

What is the difference between switch sign for and switch type for and in which dimension it exists?

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

      _ BALANCE to FLOW

      _ FLOW to BALANCE

       Switch type for: It is ticked to change

      _ ASSET to EXPENSE

      _ EXPENSE to ASSET

      _ LIABILITY to REVENUE

      _ REVENUE to LIABILITY

      _ BALANCE to FLOW