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Oracle 1z1-408 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Ledgers and Accounting Configurations | 20% | - Accounting calendars and period management - Defining ledgers, ledger sets, and reporting currencies - Currency and conversion rules |
| Reporting and Analysis | 10% | - Trial balance and inquiry tools - Account inspector and balance analysis - Financial reporting using OTBI and Smart View |
| Intercompany and Balancing | 15% | - Intercompany reconciliation - Configuring intercompany accounts and rules - Automatic balancing and elimination entries |
| Consolidation and Close Process | 15% | - Period close and year-end processing - Consolidation methods and eliminations - Translation and revaluation |
| Chart of Accounts | 20% | - Value sets, segments, and qualifiers - Designing and configuring chart of accounts structure - Cross-validation rules and segment security |
| Journal Processing | 20% | - Creating, approving, and posting journals - Journal import and validation - Recurring, allocation, and reversal journals |
Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:
You defined a tree or hierarchy, but you are unable to set its status to Active.
What is the reason?
- A. Chart of accounts was not deployed.
- B. An Audit process needs to be successfully performed before a tree version can be set to Active.
- C. Two tree versions were not defined
- D. Accounting Configuration was not submitted-
Correct Answer: C π³οΈ
Identify three functions of Functional Setup Manager.
- A. Assign setup tasks to individuals with due dates where users must manually update their completion status.
- B. Provide a central place to access and perform all of the setup steps across Fusion application product
- C. Centrally manage the close processes across subledgers and ledgers.
- D. Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted.
- E. Automatically mark the status of tasks as Completed after they have been completed.
Correct Answer: B,C,D π³οΈ
All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting.
What does Oracle consider the best practice approach to performing consolidations?
- A. Use General Ledger's Financial Reporting functionality to produce consolidated reports bybalancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment.
- B. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar,currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.
- C. Use Oracle Hyperion Financial Management for this type of complex consolidation.
- D. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to theparent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
Correct Answer: C π³οΈ
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You operate in a country whose unstable currency makes it unsuitable for managing your day-today business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency.
What would be your recommendation when defining ledgers?
- A. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency.
- B. Run Revaluation as often as you need to the more stable currency and report on the more stable currency'sbalances.
- C. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency.
- D. Define Balance-Level Reporting Currencies in the more stable currency and run Translation as often as you need.
Correct Answer: C π³οΈ
Explanation: Only visible for PassReview members. You can sign-up / login (it's free).
You want to monitor the dose process of all your financial subledgers and ledgers.
How can you quickly obtain this information?
- A. Use Close Monitor in General Accounting Dashboard.
- B. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers.
- C. Run Closing Status reports.
- D. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period.
Correct Answer: C π³οΈ
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