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

"Oracle Fusion Financials: General Ledger 2014 Essentials", also known as 1z1-408 exam, is a Oracle Certification. With the complete collection of questions and answers, PrepAwayPDF has assembled to take you through 76 Q&As to your 1z1-408 Exam preparation. In the 1z1-408 exam resources, you will cover every field and category in Oracle Applications Certification helping to ready you for your successful Oracle Certification.

  • Exam Code: 1z1-408
  • Exam Name: Oracle Fusion Financials: General Ledger 2014 Essentials
  • Certification Provider: Oracle
  • Corresponding Certification: Oracle Applications
  • Updated: Jul 28, 2026
  • No. of Questions: 76 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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Oracle 1z1-408 Exam Syllabus Topics:

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

Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. You customer is a financial Institution that needs to maintain overage daily balances (ADB).
Which two statements are true regarding this functionality in Fusion Applications?

A) ADB provides organizations with the ability to track average and end-of-day balances, reportaverage balance sheets, and create custom reports using both actual and average balances.
B) Average balances are maintained for both actual and budget balances.
C) Average balances are stored for both subledger balances and general ledger balances.
D) When using ADB, you must define a daily calendar and assign it to your ADB ledger.
E) Average balances are stored in the Essbase cube.


2. You need to integrate Fusion Accounting Hub with external source systems used for Billing.
Identity the step that is not correct when implementing this integration.

A) Analyze external system transactions.
B) Determine the accounting impact of transactions.
C) Create the accounting in the source system and then import the journal entries into subledger accounting.
D) Capture accounting events.


3. Your customer is reconciling their Intercompany Receivables accounts.
Which two reports should they use In addition to using the intercompany Reconciliation report?

A) General I edger Trial Balance report
B) AR Aging report
C) Receivables Aging by General Ledger Account report
D) Receivables to General Ledger Reconciliation report


4. Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?

A) Event Type
B) Event Class
C) Journal Line Rule
D) Journal Entry
E) Journal Entry Rule Set


5. Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments.
Which two recommendations would you give your customer?

A) When entering journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
B) Additional intercompany rules will need to be defined for the two additional balancing segments.
C) Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.
D) Every journal where debits do not equal credits across the three balancing segments will result in the System generating extra journal lines to balance the entry.


Solutions:

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

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