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Workday Workday-Record-to-Report Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Advanced Accounting Tasks | - Complex Accounting Processes
|
| Topic 2: Financial Accounting and Period Close Configuration | - Accounting configuration and maintenance
|
| Topic 3: Core Workday Financial Management Functionality | - Workday Financial Management system functionality
|
| Topic 4: Financial Close and Reporting | - Close process execution
|
Workday Pro Record-to-Report (R2R) Certification Sample Questions:
Your company reports profit and loss under different accounting standards. Under US GAAP, prepaid expenses are recorded as a current asset. However, under IFRS, the company must expense immediately. Someone posted an operational transaction resulting in the use of a prepaid expense account in line with US GAAP.
What should the next step be?
- A. Enter an accounting journal to adjust by selecting the IFRS book code as a balancing worktag.
- B. Unpost and then edit the original transaction to include the book code for IFRS.
- C. Enter an accounting journal to adjust by selecting the IFRS book code and the appropriate ledger accounts to expense the costs.
- D. Unpost the original transaction and create two manual journals for each accounting treatment.
Correct Answer: C 🗳️
Explanation: Only visible for GuideTorrent members. You can sign-up / login (it's free).
You need to record a financial transaction in Workday. The transaction does not automatically come from an operational area such as supplier accounts or customer accounts.
Why might you use an accounting journal?
- A. To back up all system-generated financial data
- B. To ensure all financial activities are captured in the general ledger for accurate reporting
- C. To provide a quicker way for departments to communicate financial information
- D. To trigger automated workflows for approvals and postings
Correct Answer: B 🗳️
Explanation: Only visible for GuideTorrent members. You can sign-up / login (it's free).
Refer to the following scenario to answer the question below.
A company is a global organization that needs to comply with multiple accounting standards. The company has configured their account posting rules so that certain supplier invoices will comply with U.S. GAAP rules but will not comply with IFRS.
To which book code will the supplier invoices be mapped?
- A. A blank book code.
- B. A U.S. GAAP specific book code.
- C. Both IRFS and U.S. GAAP specific book codes.
- D. An IFRS specific book code.
Correct Answer: A 🗳️
Explanation: Only visible for GuideTorrent members. You can sign-up / login (it's free).
A company organizes various events. They want to report on transactions using an Event Type. This Event Type does not need any members, security or hierarchy.
What should you do?
- A. Use the Maintain Worktag Usage task and set the Event Type to required for customer transactions.
- B. Create a custom organization for each Event Type.
- C. Enable a custom worktag and add values for each Event Type.
- D. Use the Maintain Related Worktag Usage task and set the Event Type to be required for customers.
Correct Answer: C 🗳️
Explanation: Only visible for GuideTorrent members. You can sign-up / login (it's free).
Your company uses Workday to track shared service costs.
How can you ensure that costs are distributed to the business based on square footage?
- A. Allow each business unit to self-report their usage and manually adjust the costs.
- B. Allocate shared service costs at the end of the fiscal year.
- C. Evenly distribute the costs across all business units, regardless of usage.
- D. Set up an allocation with pro-rata usage metrics to distribute the costs.
Correct Answer: D 🗳️
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