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Oracle 1Z1-508 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Overview of Oracle Fusion Financials and General Ledger | 10% | - Key features and benefits of Fusion General Ledger - Fusion Financials architecture and deployment options - General Ledger role within the financial ecosystem |
| Financial Reporting and Inquiry | 12% | - Balances and transaction inquiry - Financial Reporting Center and OTBI - Account Monitor and Account Inspector - Reporting tools and integration options |
| Journal Entries and Processing | 20% | - Reversing, correcting, and reviewing journals - Allocation and periodic entries - Approval workflows and rules - Creating, importing, and posting journals |
| Chart of Accounts Configuration | 20% | - Designing and defining chart of accounts structure - Account combinations and security rules - Cross-validation and segment validation rules - Value sets, segments, and hierarchies |
| Multi-Currency and Intercompany Accounting | 15% | - Foreign currency transactions and revaluation - Currency configuration and daily rates - Intercompany transactions and reconciliation - Translation and consolidation processes |
| Integration and Security | 8% | - Integration with Subledger Accounting - Data access and security policies - Accounting Hub and third-party integration |
| Period Close and Reconciliation | 15% | - Period close process and monitor - Trial balance and period-end adjustments - Reconciliation with subledgers - Opening and closing accounting periods |
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:
Question 1
When recording the closing of a loan, you can link to the account that was used to book the loan origination.
Which option would you choose in Journal Line Rule?
A. Journal Line Rule Conditions
B. Merge Matching Lines to All
C. Link Journal Lines Options set to Copy from Corresponding Line
D. Link Journal Lines Options set toBusinessFlow
E. Link Journal Lines Options set to None
Question 2
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
Question 3
The Receivables and Payables accounts that are automatically generated by intercompany transactions use rules and attributes in what order?
A. Chart of Account Rules; Ledger Entity Level Rules, Primary Balancing Segment Rules; Ledger Level Rules
B. Chart of Account Rules; Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules
C. Ledger Level Rules;Primary Balancing Segment Rules;Ledger Entity Level Rules; Chart of Accounts Rules
D. Ledger entity Level Rules; ledger Level Rules; Chart of Account Rules; Primary Balancing Segment Rules
E. Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules;Chart of Account Rules
Question 4
Which three objectives must be considered when designing the chart of accounts?
A. Provide less flexibility for management reporting and analysis.
B. Support the audit and control of financial transactions.
C. Effectively manage an organization's financial business.
D. Anticipate growth and maintenance needs because organizational changes occur
E. Select the segment qualifiers.
Question 5
Fusion Accounting Hub includes Hyperion Data Management, which can be used for_______________.
A. Chart of Accounts Master Data maintenance
B. data modeling
C. the maintenance of Trading Community Data
D. data access and security
E. Chart of Accounts Hierarchy maintenance
Solutions:
| Question 1 Answer: D | Question 2 Answer: B | Question 3 Answer: E | Question 4 Answer: B,C,D | Question 5 Answer: A |
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