Welcome to our blog on Hyperion Financial Management Interview Questions! Hyperion Financial Management (HFM) is a powerful tool for financial consolidation, reporting, and analysis, widely used by organizations of all sizes and industries. As HFM continues to gain popularity, many companies are seeking skilled professionals who can effectively navigate this software and drive their financial strategy forward. Whether you're a job seeker preparing for an HFM interview or an employer looking to hire HFM experts, this blog is for you. In this blog, we have compiled a list of common HFM Interview Questions that you may encounter during the hiring process. We hope this resource will help you better prepare for your next interview and feel more confident in your knowledge of HFM.
In this article, we will cover the following:
Most Frequently Asked HFM Interview Questions |
Ans: Oracle Hyperion Financial Management is a web-based financial consolidation tool.
Ans: Consolidation is aggregating the Base level entity amounts with the Parent level entity amounts.
Ans: Here you need to answer as per your HFM version.
Ex: 9 versions to 11.1.2.1 version only we have 4 custom dimensions. After that versions are like (11.1.2.2 and 11.1.2.3) having 100 custom dimensions.
Ans: Those 8 Standard dimensions are like
Ans: Basically, value dimension members are interrelated 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 calculations and post journals.
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Ans: First, we have to create/define all the currencies in the MetaData Item called currencies. Then we have to perform currency translations in the Explore data module by using custom dimensions and value dimensions.
Ans: To perform the Review process, we should have the “Review Supervisor” Security authority. In the Explore Data Module, we will perform Process Management.
Ans: 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.
Ans: We migrate applications with copy application utility. Another way of migrating applications is the traditional way that extracts all required files from development and loads the same files in production
Ans: Application Settings -> consolidation Rules -> Y
Ans: Hyperion Foundation Shared Services – Web Application
HFM- DME Listener
Hyperion Web Service Manager
Hyperion Workspace- Agent Application
Hyperion Workspace- Web Application
Ans: The adjustment is to correct the data. It is done by Journals at value dimension member Entity currency Adjs and Parent curr Adj.
Ans: 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.
Ans: The following are system-defined members for the 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 create an 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
Ans: 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.
Ans: Data is stored at the cells formed by the intersection of the members of the different dimensions in the subcube. 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.
Ans: 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)
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Ans: The 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 dimension members of cells. (EnableDataAudit metadata attribute is available in Scenario and Account dimensions.)
Ans: Default or view access.
Ans: Line Item detail is additional information to the data. It is entered into the data file.
Ans: Hyperion HFM/ Hyperion Planning both are Essbase based. They are front-end tech and Ess-base is the back end. Ess-base is an M-OLAP. There are three types of OLAP technology present in the market. These are ROLAP, MOLAP, and HOLAP.
An example of ROLAP is BO. Here we deal with the table and they act as a virtual cube. But if we think about Oracle Express Hyperion Essbase and Cognos then they are real cubes. Thus MOLAP. ROLAP+MOLAP=HOLAP.
In the case of BO, we need to join to attain the OLAP effect virtually but behind is a joined table. But in the case of MOLAP, there is no concept of the table it is cube only.
For example, a page is a table then a Book is a Cube.
If the data is large then it is advisable to take up ROLAP, not MOLAP. because the performance of the cubes degrades. If the size of data is around 100 GB to 150 GB then it is fine to go with MOLAP and if it is more than that then we should choose BO.
Ans: We have IIS for HFM although there is no IIS for OLAPs. If there is no IIS then it is a time taking process to retrieve financial data.
Is it possible to have one ASO database and one BSO database in a single application Justify?
No, because ASO/BSO classification is defined at the Application level and not at the database.
Ans: Hyperion Planning is a budgeting and forecasting application from Oracle formerly owned by Hyperion Solutions Corporation. Hyperion Planning uses Essbase (s multidimensional database product sold by Hyperion) as a database and calculation engine, a relational repository for business logic, and includes a web-based user interface. The software allows you to add planning or forecast data to actuals. You can use Web Forms to add the planning data or use the Excel SmartView tool.
Ans: HFM directly can’t take the data from ERP packages. Then loaded into FDM and mapped with HFM.
Ans: A user-controlled mechanism that prevents changes to data according to specified criteria, such As period or scenario.
Ans: As the dimension members are added and deleted, the dynamic member list automatically reflects the changes by replying to the user-defined criteria.
Ans: It exists in the 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
Ans: 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).
Ans: Configurable Dimensions provide HFM with the flexibility lacking in 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 dimensions can be set accordingly. Customer requirements drive the design and the structure of the application without constraints or compromises.
Ans: The 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.
Ans: The number of custom dimensions depends on the level of detail of the reporting. When the same detailed analysis exists 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 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.
Ans: Yes. A custom dimension can contain different types 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 the Product hierarchy and Balance Sheet accounts will be associated with the Flow hierarchy.
Ans: 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.
Ans: All existing functions continue to work. Some new generic functions have been created to handle applications with more than 4 custom dimensions.
Ans: We need to write in rules as PCon=POwn-PMin, to calculate the percentage of minority interest.
%Minority=%consolidation-%ownership
Ans: Many finance executives face the daunting task of consolidating their Companies' financial and operating results using spreadsheets that are difficult to maintain and audit.
Ans: some journals we use rapidly. So, for this purpose, we will create recurring templates, we will create recurring journals.
Ans: A means of converting balances from one currency to another via a third common currency.
Ans: Intercompany transactions are eliminated through a plug account.
Ans: A user-controlled mechanism that prevents changes to data according to specified criteria, such As period or scenario.
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Ans: Data forms and data grids.
Ans: Point of view is restricted in data.
Data form supports for export& import of XL.
We will add and delete the data forms.
Ans: The tolerance amount is small discrepancies in the amounts in Intercompany Transactions.
Ans:
Types:
Methods:
Ans: Analytic services (or Essbase Services) lock the block and all other blocks which contain the Childs of that block while calculating this block is a block locking system.
Ans: Yes, it is possible.
Ans: Explicit, in, like, and between mapping.
Ans: Open the Hyperion FDM Web Client by selecting Programs to Oracle EPM Financial Data Quality
Management Web Server Components Web Logon.
Ans: Please explain import, export, validate, and check.
Ans: Build maps internally within FDM.
Build maps externally and import them to FDM.
Copy an existing location map to other locations.
Assign the mapped location as a parent to other locations.
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