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Fast2test Practice Exams for Oracle Oracle Applications 1Z1-508 are written to the highest standards of technical accuracy, using only certified subject matter experts and published authors for development.

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1Z1-508 exam is an important Oracle Certification which can test your professional skills. Candidates want to pass the exam successfully to prove their competence. Fast2test Oracle technical experts have collected and certified 127 questions and answers of Oracle Applications - Oracle Fusion Financials 11g General Ledger Essentials which are designed to cover the knowledge points of the Planning and Designing Oracle Superdome Server Solutions and enhance candidates' abilities. With Fast2test 1Z1-508 preparation tests you can pass the Oracle Applications - Oracle Fusion Financials 11g General Ledger Essentials easily, get the Oracle certification and go further on Oracle career path.

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Oracle 1Z1-508 Exam Syllabus Topics:

SectionWeightObjectives
Multi-Currency and Intercompany Accounting15%- Currency configuration and daily rates
- Foreign currency transactions and revaluation
- Translation and consolidation processes
- Intercompany transactions and reconciliation
Period Close and Reconciliation15%- Reconciliation with subledgers
- Trial balance and period-end adjustments
- Opening and closing accounting periods
- Period close process and monitor
Integration and Security8%- Integration with Subledger Accounting
- Data access and security policies
- Accounting Hub and third-party integration
Chart of Accounts Configuration20%- Cross-validation and segment validation rules
- Designing and defining chart of accounts structure
- Account combinations and security rules
- Value sets, segments, and hierarchies
Journal Entries and Processing20%- Approval workflows and rules
- Reversing, correcting, and reviewing journals
- Creating, importing, and posting journals
- Allocation and periodic entries
Financial Reporting and Inquiry12%- Reporting tools and integration options
- Account Monitor and Account Inspector
- Balances and transaction inquiry
- Financial Reporting Center and OTBI
Overview of Oracle Fusion Financials and General Ledger10%- Fusion Financials architecture and deployment options
- Key features and benefits of Fusion General Ledger
- General Ledger role within the financial ecosystem

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

Transaction objects in Fusion Accounting Hub are associated to_____________.

  • A. Event Classes
  • B. Event Types
  • C. Event Entities
  • D. Journal Line Types
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Identify the step that is NOT correct about implementing Fusion Accounting Hub to integrate with an external system.

  • A. Enable external system to create Journal entries.
  • B. Analyze external system transactions.
  • C. Capture accounting events.
  • D. Determine the accounting impact of transactions.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Choose the four steps required to create and use the chart of accounts.

  • A. Create Account Hierarchies.
  • B. Create Chart of Accounts Structure Instance.
  • C. Create Value Sets.
  • D. Create Chart of Accounts Structure.
  • E. Create Value Set Values.
  • F. Publish Account Hierarchies.
Reveal Solution  Discussion  0

Correct Answer: A,C,D,E  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Identify three characters that can NOT be used with the FRExecute command.

  • A. =
  • B. &
  • C. ;
  • D. >
  • E. (
Reveal Solution  Discussion  0

Correct Answer: B,C,D  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Oracle Fusion Accounting Hub is integrated with Oracle Hyperion Data Relationship Management Fusion Edition. What are two primary purposes of this functionality?

  • A. ability to maintain charts of accounts values and hierarchies in one central location
  • B. ability to download very large amounts of data
  • C. stores the identifier for the transaction in the transaction table
  • D. a master data management solution for creating and maintaining hierarchies across an enterprise
  • E. accurately reflects the accounting rules
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

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