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Oracle 1Z1-508 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Chart of Accounts Configuration | 20% | - Value sets, segments, and hierarchies - Designing and defining chart of accounts structure - Account combinations and security rules - Cross-validation and segment validation rules |
| Multi-Currency and Intercompany Accounting | 15% | - Translation and consolidation processes - Currency configuration and daily rates - Foreign currency transactions and revaluation - Intercompany transactions and reconciliation |
| Overview of Oracle Fusion Financials and General Ledger | 10% | - Fusion Financials architecture and deployment options - General Ledger role within the financial ecosystem - Key features and benefits of Fusion General Ledger |
| Financial Reporting and Inquiry | 12% | - Financial Reporting Center and OTBI - Account Monitor and Account Inspector - Balances and transaction inquiry - Reporting tools and integration options |
| Period Close and Reconciliation | 15% | - Reconciliation with subledgers - Trial balance and period-end adjustments - Opening and closing accounting periods - Period close process and monitor |
| Journal Entries and Processing | 20% | - Reversing, correcting, and reviewing journals - Allocation and periodic entries - Approval workflows and rules - Creating, importing, and posting journals |
| Integration and Security | 8% | - Data access and security policies - Integration with Subledger Accounting - Accounting Hub and third-party integration |
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:
1. A database connection can be changed when moving from a development environment server to a production environment server. Identify the reason for the error message "1012: Report contains an Invalid grid. The following dimensions could not be found: Measures."
A) Dimensions existed in the old database connection, but NOT in the new database connection
B) Opening or running the reports or books for an INVALID database connection
C) Dimensions do NOT match a specific report in the book
D) Dimensions in the changed database connections do NOT match the previous dimensions
2. When reconciling transactions, accounted amounts in a reconciliation report may be different due to differences in the currency conversion rates used. To mitigate the differences in the account balances you should ____________.
A) Add a ledger-balancing line in the intercompany Payables account and rerun the report
B) Run additional reports using a number of varied currency conversion rates
C) Add a ledger-balancing line in the intercompany Receivables account and rerun the report
D) Run the report using an additional common currency conversion rate
3. The life cycle of a transaction's accounting impact is modeled by using__________.
A) Event Classes and Types
B) Event Entities
C) Process Categories
D) Journal Categories
E) Journal Sources
4. What are the key performance metrics for Oracle Fusion Financials?
A) Pipelinefunnel. Opportunity Details, Forecast and Actual versus Quota and Forecast versus Pipeline
B) Spend by Category, Spend by Supplier, Spend by Organization and Item Detail
C) Requisitions. Vacancy Analysis, Recruitment Pipeline and Offer Analysis
D) Project Performance, Financial Management, Budget Details and Cost Details
E) Expenses, Revenue, Balance Sheet, Cash Flow, Budget versus Actual, Asset Usage, Liquidity, Financial Structure and GL Balance
5. Select two text functions that are available only for financial management.
A) ProcessManagementStatus
B) MemberDescription
C) MemberAlias
D) CallText
E) MemberProprty
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: E | Question # 5 Answer: B,C |
