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Workday-Record-to-Report Desktop Test Engine
Installable Software Application
Simulates Real Workday-Record-to-Report Exam Environment
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- Workday Financial Management system functionality
1. Core accounting configuration concepts
2. Financial transactions and accounting processes
Workday Pro Record-to-Report (R2R) Certification Sample Questions:
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.
Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).
You are a finance administrator and your company is setting up their financials. They want to track all intercompany payables in a new ledger account. What approach should you take?
A. Create the new ledger account and then use it as default for the intercompany payables account posting rule.
B. Create the new ledger account and then use them accordingly when entering intercompany transactions.
C. Set up a new condition rule for Intercompany and include the new ledger accounts to be used for payables and receivables.
D. Set up a new condition rule for Accounting Journals and include the new ledger accounts to be used for intercompany payables and receivables.
Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).
A company needs to comply with both ASC 842 and IFRS 16 leasing standards. When creating an alternate supplier contract to comply with IFRS 16, what will determine the appropriate accounting for the installment expense recognition?
A. The original contract's contract type and contract accounting method
B. The original supplier contract's accounting method
C. The alternate supplier contract's interest rate
D. The alternate supplier contract's accounting method
Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).
discussion
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