Oracle 1Z0-508 : Oracle Fusion Financials 11g General Ledger Essentials

  • Exam Code: 1Z0-508
  • Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
  • Updated: Aug 09, 2026   Q&As: 127 Questions and Answers

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Oracle 1Z0-508 Exam Syllabus Topics:
SectionWeightObjectives
Topic 1: Multi-Currency and Intercompany Accounting15%- Currency configuration and daily rates
- Intercompany transactions and reconciliation
- Translation and consolidation processes
- Foreign currency transactions and revaluation
Topic 2: Overview of Oracle Fusion Financials and General Ledger10%- General Ledger role within the financial ecosystem
- Key features and benefits of Fusion General Ledger
- Fusion Financials architecture and deployment options
Topic 3: Chart of Accounts Configuration20%- Account combinations and security rules
- Value sets, segments, and hierarchies
- Designing and defining chart of accounts structure
- Cross-validation and segment validation rules
Topic 4: Integration and Security8%- Data access and security policies
- Integration with Subledger Accounting
- Accounting Hub and third-party integration
Topic 5: Journal Entries and Processing20%- Creating, importing, and posting journals
- Reversing, correcting, and reviewing journals
- Approval workflows and rules
- Allocation and periodic entries
Topic 6: Financial Reporting and Inquiry12%- Reporting tools and integration options
- Account Monitor and Account Inspector
- Balances and transaction inquiry
- Financial Reporting Center and OTBI
Topic 7: Period Close and Reconciliation15%- Period close process and monitor
- Reconciliation with subledgers
- Opening and closing accounting periods
- Trial balance and period-end adjustments
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. To set up the intercompany transaction using the Chart of Account rule, you will have to ___________.

A) specify the chart of accounts intercompany payables only
B) specify the chart of account intercompany receivables and intercompany payables accounts
C) specify the Chart of account intercompany receivables accounts, intercompany payables account the source and the category
D) specify the chart of account intercompany receivables only


2. Transactions may involve multiple currencies that require a common currency to make the reports meaningful. What are the amounts Oracle Business Analytics Warehouse uses to store currency?

A) Currency Code, Currency Name
B) Currency Symbol, Currency Name
C) Report Currency
D) Global Currency (two common currencies), Document Currency,Local Currency


3. Which view do you use to set parameters and define the data that is displayed in the SmartView report.

A) SmartSlice
B) SmartCube
C) Point of View
D) SmrtView


4. To open a period without going into the Setup and Maintenance work area you can maintain the period statuses of ledger from the ___________ work area.

A) Account Monitoring
B) Process Monitoring
C) General Ledger Journals
D) Manage Revaluations


5. When configuring the allocation and periodic entries, which three tasks must be completed before generating the entries?

A) The period is set to Open, Never Open or Future Enterable.
B) The period is set to Closed, Never Open or Future Enterable.
C) The journal balances for the allocation or periodic rules are entered and posted in the proper period.
D) The rules or rules sets have been defined, validated and deployed successfully from the Allocation Manager.
E) The period is set to Open or Future Enterable


Solutions:

Question # 1
Answer: B
Question # 2
Answer: D
Question # 3
Answer: A
Question # 4
Answer: C
Question # 5
Answer: C,D,E

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