Oracle Fusion Financials 11g General Ledger Essentials : 1Z1-508

  • Exam Code: 1Z1-508
  • Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
  • Updated: Aug 11, 2026     Q & A: 127 Questions and Answers

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Oracle 1Z1-508 Exam Syllabus Topics:

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

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. Which tab is used in the journals Work region of the General Accounting Dashboard to identify journals that produce an error during the Posting Process or that are rejected in the approval flow?

A) Pending Approval Prom Others
B) Requiring Attention
C) Incomplete
D) Import Errors


2. Which three rule types are used to build an account rule?

A) Segment
B) System Transaction Identifiers
C) Value Set
D) Account Combination
E) Mapping Set


3. Which task is NOT allowed when spreading data for time periods in Microsoft Excel?

A) spreading the value of a summary time period to its base time periods or to the first parent or first child of the parent time period
B) spreading values among children and parents proportionally, based on existing distribution
C) spreading data in a summary time period that includes members and mixed currency types
D) temporarily locking the values of certain cells while spreading data over time periods
E) spreading values based on weekly distribution of a quarter, which could be 4-4-5, 5-4-4, or none


4. How do you represent the Chart of Account Segments in SmartView technology?

A) Members
B) Dimensions
C) User POV
D) Grid POV


5. In Oracle Fusion, the intercompany transactions are used to generate the accounts needed to balance ____________.

A) By legal entity only
B) By both legal and balancing segments values
C) By account values
D) By primary balancing segment values only


Solutions:

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

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