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Workday Workday-Record-to-Report Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Financial Accounting and Period Close Configuration | - Accounting configuration and maintenance
|
| Topic 2: Advanced Accounting Tasks | - Journal Processing
|
| Topic 3: Financial Close and Reporting | - Close process execution
|
| Topic 4: Core Workday Financial Management Functionality | - Workday Financial Management system functionality
|
Workday Pro Record-to-Report (R2R) Certification Sample Questions:
What does the Taxable field indicate when you set up a customer in Workday?
- A. Whether the customer is exempt from property tax.
- B. It indicates the customer's tax filing status.
- C. Whether the customer is subject to sales tax.
- D. It shows you the customer's tax ID.
Correct Answer: C 🗳️
Explanation: Only visible for DumpsFree members. You can sign-up / login (it's free).
A company is required to comply with both IFRS and U.S. GAAP lease accounting rules. The company has already booked their U.S. GAAP leases.
What accounting method should the company select to create the alternate contract for IFRS?
- A. Straight line expense
- B. ROU asset depreciation expense
- C. Workday will automatically select the appropriate accounting method
- D. ROU asset operating expense
Correct Answer: B 🗳️
Explanation: Only visible for DumpsFree members. You can sign-up / login (it's free).
Company X and Company Y are part of the same Workday tenant. Company X provides consulting services to Company Y.
How will you record this intercompany service in Workday to ensure proper tracking and elimination during consolidation?
- A. Process a regular vendor invoice from Company X to Company Y.
- B. Directly transfer funds between the bank accounts of Company X and Company Y.
- C. Use the intercompany transaction functionality, with Company X recording revenue and Company Y recording an expense.
- D. Process journal entry only in Company X's books.
Correct Answer: C 🗳️
Explanation: Only visible for DumpsFree members. You can sign-up / login (it's free).
After an acquisition, a new legal entity needs to be set up.
What should you create?
- A. A new company organization.
- B. New worktags that represent the acquisition.
- C. A new reorganization before setting up the new cost center.
- D. A new cost center organization.
Correct Answer: A 🗳️
Explanation: Only visible for DumpsFree members. You can sign-up / login (it's free).
As the accountant of your organization, you notice there are operational journals posted with missing or incorrect worktags. The corresponding fiscal period is now closed.
How can you fix the accounting?
- A. Reopen the ledger period and unpost all journals that have missing or incorrect worktags to reenter them later.
- B. Run the Fix Operational Journals with Errors task in the current period to automatically address any errors.
- C. Ask the accounting manager to update the ledger period status to "adjustments only" and then create adjustments.
- D. Create new adjustment journals in the next period as operational journals cannot be modified after posting
Correct Answer: C 🗳️
Explanation: Only visible for DumpsFree members. You can sign-up / login (it's free).
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