PDF Version DemoOracle 1Z1-508 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Fusion Financials 11g General Ledger Essentials |
| Exam Number: | 1Z0-508 |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Certificate Validity Period: | 18 months |
| Exam Format: | Multiple Choice, Multiple Select |
| Related Certifications: | Oracle Fusion Financials 11g Implementation Specialist |
| Real Exam Qty: | 70 |
| Exam Price: | $245 USD |
| Passing Score: | 60% |
| Recommended Training: | Oracle Fusion Financials 11g General Ledger Fundamentals Oracle Fusion Financials Training Path |
| Exam Registration: | Oracle University Registration Pearson VUE Oracle Exam Registration |
| Sample Questions: | Oracle 1Z1-508 Sample Questions |
| Exam Way: | Online proctored or at authorized Pearson VUE test centers |
| Pre Condition: | No mandatory prerequisites; recommended hands-on experience with Oracle Fusion Financials 11g and basic financial accounting knowledge |
| Official Syllabus URL: | https://education.oracle.com/oracle-fusion-financials-11g-general-ledger-essentials/trackp_1Z0-508 |
Oracle 1Z1-508 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Chart of Accounts Configuration | 20% | - Designing and defining chart of accounts structure - Account combinations and security rules - Value sets, segments, and hierarchies - Cross-validation and segment validation rules |
| Topic 2: Financial Reporting and Inquiry | 12% | - Reporting tools and integration options - Account Monitor and Account Inspector - Balances and transaction inquiry - Financial Reporting Center and OTBI |
| Topic 3: Journal Entries and Processing | 20% | - Creating, importing, and posting journals - Reversing, correcting, and reviewing journals - Approval workflows and rules - Allocation and periodic entries |
| Topic 4: Overview of Oracle Fusion Financials and General Ledger | 10% | - Key features and benefits of Fusion General Ledger - General Ledger role within the financial ecosystem - Fusion Financials architecture and deployment options |
| Topic 5: Multi-Currency and Intercompany Accounting | 15% | - Foreign currency transactions and revaluation - Currency configuration and daily rates - Intercompany transactions and reconciliation - Translation and consolidation processes |
| Topic 6: Integration and Security | 8% | - Data access and security policies - Integration with Subledger Accounting - Accounting Hub and third-party integration |
| Topic 7: Period Close and Reconciliation | 15% | - Reconciliation with subledgers - Opening and closing accounting periods - Period close process and monitor - Trial balance and period-end adjustments |
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:
Question #1
Which three rule types are used to build an account rule?
A. Segment
B. System Transaction Identifiers
C. Account Combination
D. Value Set
E. Mapping Set
Question #2
Choose the four steps required to create and use the chart of accounts.
A. Create Account Hierarchies.
B. Publish Account Hierarchies.
C. Create Chart of Accounts Structure Instance.
D. Create Chart of Accounts Structure.
E. Create Value Set Values.
F. Create Value Sets.
Question #3
When configuring the allocation and periodic entries, which three tasks must be completed before generating the entries?
A. The period is set to Open or Future Enterable
B. The journal balances for the allocation or periodic rules are entered and posted in the proper period.
C. The period is set to Closed, Never Open or Future Enterable.
D. The period is set to Open, Never Open or Future Enterable.
E. The rules or rules sets have been defined, validated and deployed successfully from the Allocation Manager.
Question #4
During the analysis phase of the implementation, it was discovered that there were some expense entries that are paid in the current month for services rendered in the next month, the client wants to defer the expense and recognize it in the next month. What would you recommend?
A. Use Account Derivation rules to create two different entries.
B. Create two accounting events: one for payment and one for recognition.
C. Use Journal Line Definitions.
D. Use multiperiod accounting-enabled Journal Line Types.
Question #5
The Receivables and Payables accounts that are automatically generated by intercompany transactions use rules and attributes in what order?
A. Ledger Level Rules;Primary Balancing Segment Rules;Ledger Entity Level Rules; Chart of Accounts Rules
B. Chart of Account Rules; Ledger Entity Level Rules, Primary Balancing Segment Rules; Ledger Level Rules
C. Chart of Account Rules; Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules
D. Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules;Chart of Account Rules
E. Ledger entity Level Rules; ledger Level Rules; Chart of Account Rules; Primary Balancing Segment Rules
Solutions:
| Question #1 Correct Answer: A,D,E | Question #2 Correct Answer: A,D,E,F | Question #3 Correct Answer: A,B,E | Question #4 Correct Answer: D | Question #5 Correct Answer: D |
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