Your customer wants to control spending against an annual budget but report balances on a monthly year-todate basis. Encumbrance accounting is also in use.
What setup is required to achieve this requirement?
A.
Create an annual budget with absolute control and so encumbrance accounting will work.
B.
Create a summary budget annually with advisory control and control budget monthly with absolute control.
C.
Create a summary budget annually with absolute control and monthly control budget with advisory or track
control.
D.
Create two detail control budgets: annually with absolute control and monthly with advisory or track control.
E.
Create two detail control budgets: annually with advisory/track control and monthly with absolute control.
A
Correct Answer is C. Oracle recommends having two budgets, one for control: an annual report with absolute control, and one for reporting, an monthly report with advisory or track control:
https://cloud.oracle.com/_downloads/WhitePaper_Financials_BudgetaryControl/OracleERPBudgetaryControl-CaseStudy.pdf
C