Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Applications
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Oracle 1Z1-508 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Integration and Security | 8% | - Accounting Hub and third-party integration - Integration with Subledger Accounting - Data access and security policies |
| Journal Entries and Processing | 20% | - Creating, importing, and posting journals - Reversing, correcting, and reviewing journals - Allocation and periodic entries - Approval workflows and rules |
| Financial Reporting and Inquiry | 12% | - Account Monitor and Account Inspector - Balances and transaction inquiry - Reporting tools and integration options - Financial Reporting Center and OTBI |
| Period Close and Reconciliation | 15% | - Opening and closing accounting periods - Period close process and monitor - Reconciliation with subledgers - Trial balance and period-end adjustments |
| Multi-Currency and Intercompany Accounting | 15% | - Foreign currency transactions and revaluation - Intercompany transactions and reconciliation - Currency configuration and daily rates - Translation and consolidation processes |
| Overview of Oracle Fusion Financials and General Ledger | 10% | - Fusion Financials architecture and deployment options - Key features and benefits of Fusion General Ledger - General Ledger role within the financial ecosystem |
| Chart of Accounts Configuration | 20% | - Designing and defining chart of accounts structure - Value sets, segments, and hierarchies - Account combinations and security rules - Cross-validation and segment validation rules |
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:
In Member Selection, which three operators and symbols enable you to display members based specified criteria?
- A. AND operator
- B. Left parenthesis
- C. Union operator
- D. Double parentheses
- E. Right parenthesis
Correct Answer: A,C,D 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Identify the valid data source where key Figure Manager is used for Financial Reporting.
- A. Planning
- B. EssBase
- C. Financial Management
- D. MSOLAP
- E. SAP BW
Correct Answer: E 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
To set up the intercompany transaction using the Chart of Account rule, you will have to ___________.
- A. specify the Chart of account intercompany receivables accounts, intercompany payables account the source and the category
- B. specify the chart of account intercompany receivables and intercompany payables accounts
- C. specify the chart of account intercompany receivables only
- D. specify the chart of accounts intercompany payables only
Correct Answer: B 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
With which two options can Mapping Sets validate input values?
- A. Accounting Segment
- B. FlexFields
- C. Lookup Types
- D. Value Sets
Correct Answer: C,D 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
The Link Journal Lines option in a Journal Line Rule is set to "Copy from Corresponding Line."
What would this do?
- A. copies the accounted amount from a previous journal
- B. copies the accounting dale from a previous journal
- C. copies from a previous journal line
- D. copies the description from the debitline to the credit line
- E. builds account for a journal line using segments from the offsetting entry of the current journal line
Correct Answer: E 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
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