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Oracle 1Z0-508 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Journal Entries and Processing | 20% | - Approval workflows and rules - Creating, importing, and posting journals - Allocation and periodic entries - Reversing, correcting, and reviewing journals |
| Topic 2: 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 |
| Topic 3: Chart of Accounts Configuration | 20% | - Account combinations and security rules - Value sets, segments, and hierarchies - Cross-validation and segment validation rules - Designing and defining chart of accounts structure |
| Topic 4: Integration and Security | 8% | - Integration with Subledger Accounting - Accounting Hub and third-party integration - Data access and security policies |
| Topic 5: Period Close and Reconciliation | 15% | - Period close process and monitor - Trial balance and period-end adjustments - Opening and closing accounting periods - Reconciliation with subledgers |
| Topic 6: Financial Reporting and Inquiry | 12% | - Balances and transaction inquiry - Financial Reporting Center and OTBI - Reporting tools and integration options - Account Monitor and Account Inspector |
| Topic 7: Multi-Currency and Intercompany Accounting | 15% | - Foreign currency transactions and revaluation - Translation and consolidation processes - Currency configuration and daily rates - Intercompany transactions and reconciliation |
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:
Question #1
Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type. What is the solution?
A. Create two journal line rules with a condition of supplier type.
B. Create an Account Rule with 31 rule elements using one condition for each expense type; and another for supplier type.
C. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.
D. Create an Account Rule with two rule elements using one for expense type mapping and the other for condition of supplier type.
Question #2
Which three tasks that can be performed by using Account inspector in the Account Monitor choice list?
A. Interactively perform ad hoc inquiries on the financial balances.
B. Export a custom pivot table to Microsoft Excel.
C. Do not use a pivot table.
D. Drill down to the detailed balances within a custom pivot table.
E. Close selected accounts and periods that appear in the pivot table.
Question #3
A user wants to enter a multiple currency journal in the General Ledger. What must the user do to see the conversion rate type, conversion date, and conversion rate columns?
A. At the Journal line level, accept the default value in the currency field.
B. At the Journal Header level, accept the default value in the currency field.
C. At the Journal line level, select a blank value in the currency field.
D. At the Journal Header level, select a blank value in the currency field.
Question #4
The company has four legal entities operating in US CA, US-NY, Canada and the UK. The chart of accounts and the accounting calendar are the same for US CA, US-NY and Canada but NOT for the UK.
How many ledgers are needed?
A. Two
B. three
C. Four
D. One
Question #5
Which is an INCORRECT Function for Fusion intercompany?
A. You can use a simple setup in which you define one rule for your chart of accounts.
B. The rule defined in intercompany canbe used for all intercompany balancing of all ledgers that use the same chart of accounts.
C. Intercompany enables you to have a more granular set of rules.
D. You do NOT have the functionality to define rules for specific Journal and category combinations for intercompany transaction types.
Solutions:
| Question #1 Correct Answer: D | Question #2 Correct Answer: A,B,D | Question #3 Correct Answer: A | Question #4 Correct Answer: A | Question #5 Correct Answer: D |
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