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Exam Code: 1Z1-508
Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
Updated: Sep 14, 2026
Q & A: 127 Questions and Answers
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Period Close and Reconciliation | 15% | - Period close process and monitor - Trial balance and period-end adjustments - Reconciliation with subledgers - Opening and closing accounting periods |
| Topic 2: Integration and Security | 8% | - Integration with Subledger Accounting - Data access and security policies - Accounting Hub and third-party integration |
| Topic 3: Multi-Currency and Intercompany Accounting | 15% | - Intercompany transactions and reconciliation - Currency configuration and daily rates - Foreign currency transactions and revaluation - Translation and consolidation processes |
| Topic 4: Journal Entries and Processing | 20% | - Creating, importing, and posting journals - Allocation and periodic entries - Reversing, correcting, and reviewing journals - Approval workflows and rules |
| Topic 5: Financial Reporting and Inquiry | 12% | - Balances and transaction inquiry - Account Monitor and Account Inspector - Reporting tools and integration options - Financial Reporting Center and OTBI |
| Topic 6: Chart of Accounts Configuration | 20% | - Value sets, segments, and hierarchies - Cross-validation and segment validation rules - Account combinations and security rules - Designing and defining chart of accounts structure |
| Topic 7: Overview of Oracle Fusion Financials and General Ledger | 10% | - General Ledger role within the financial ecosystem - Fusion Financials architecture and deployment options - Key features and benefits of Fusion General Ledger |
There is a performance issue with new account hierarchies. Which setting would you update to improve performance?
Correct Answer: C 🗳️
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What are the key performance metrics for Oracle Fusion Financials?
Correct Answer: C 🗳️
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Choose the four steps required to create and use the chart of accounts.
Correct Answer: A,C,D,F 🗳️
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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?
Correct Answer: C 🗳️
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Identify the two steps that must be completed when performing Accounting Configuration
Correct Answer: A,D 🗳️
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