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Oracle Fusion Financials: General Ledger 2014 Essentials : 1z1-408

1z1-408

Exam Code: 1z1-408

Exam Name: Oracle Fusion Financials: General Ledger 2014 Essentials

Updated: Aug 23, 2026

Q & A: 76 Questions and Answers

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Oracle 1z1-408 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Reporting and Analysis10%- Trial balance and inquiry tools
- Financial reporting using OTBI and Smart View
- Account inspector and balance analysis
Topic 2: Ledgers and Accounting Configurations20%- Accounting calendars and period management
- Currency and conversion rules
- Defining ledgers, ledger sets, and reporting currencies
Topic 3: Journal Processing20%- Creating, approving, and posting journals
- Journal import and validation
- Recurring, allocation, and reversal journals
Topic 4: Chart of Accounts20%- Designing and configuring chart of accounts structure
- Cross-validation rules and segment security
- Value sets, segments, and qualifiers
Topic 5: Intercompany and Balancing15%- Configuring intercompany accounts and rules
- Automatic balancing and elimination entries
- Intercompany reconciliation
Topic 6: Consolidation and Close Process15%- Consolidation methods and eliminations
- Period close and year-end processing
- Translation and revaluation

Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. On whichthree occasions are Essbase balances updated?

A) Every time journals are posted to the general ledger
B) Every time the tree version is published
C) Every time you run the batch program called "Update Essbase Balances"
D) Every time you open a new period
E) At report run-time


2. Identify three functions of Functional Setup Manager.

A) Centrally manage the close processes across subledgers and ledgers.
B) Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted.
C) Provide a central place to access and perform all of the setup steps across Fusion application product
D) Automatically mark the status of tasks as Completed after they have been completed.
E) Assign setup tasks to individuals with due dates where users must manually update their completion status.


3. Alter submitting the journal for approval, you realize that the department value in the journal incorrect. How do you correct the value?

A) Update the journal through workflow
B) Click the Withdraw Approval button in the Edit Journals page and edit the journal.
C) Delete the journal and create a new journal.
D) Reverse the journaland create a new one.


4. Your customer has only licensed Fusion Financials and wants to use approval workflows.
Using which page to enter users and assign roles does Oracle consider best practice?

A) Oracle Identity Management (OIM)
B) Policy Manager (APM)
C) Manage Users
D) Financials not a stand-alone product
E) Hire a New Ernployee


5. What's the difference between subject areas that append the word "Real Time" and those that do not?

A) The "Real time" subject areas are based on sub ledger transactions and all others are based on general ledger balances.
B) The "Real Time" subject areas are based on real-time transactions in Fusion Applications, and all others are based on data stored in the Oracle Business Intelligence Applications data warehouse.
C) There is no difference.
D) The "Real Time" subject areas are based on real-time transactions and all others are based on Historical data.


Solutions:

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

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