The Oracle Financials suite of applications is comprised of the following subfamilies, organized by standard business flow, to support your firm's financial processes: Financial Control & Reporting. Corporate Performance Management.Cash & Treasury Management. ACTE Oracle Apps Finance Training programs provide course based on the industrial requirement and upgrades the knowledge of the student.Start Learning with us ACTE Oracle Apps Finance Classroom and Online Training Course.
- Working in Oracle Apps - may be functional or technical (as soon as you get a job) is really interesting and fruitful. You may not have to think again in changing your domain ever. You can continue fetching good profile as well as package.
- I dont know whether you are fresher or working professional, but if you get a chance to get in this fraternity, it will surely help you get the best in IT industry.
- You can work as Oracle Consultant - Functional or Technical
Oracle Application is a good skill once you are fluent in the work you are doing. Technically, you will not learn that much apart from some plsql, query making etc. It is suggestible to move to OAF, ADF work as well. Also everything is moving to Cloud so is Oracle Apps.
Oracle Apps are highly popular with large companies. Experience with them will make you very hireable. This is an opportunity to build upon your developer skills and make yourself marketable as a consultant.
Working in Oracle Apps - may be functional or technical (as soon as you get a job) is really interesting and fruitful. You may not have to think again in changing your domain ever. You can continue fetching good profile as well as package.
I dont know whether you are fresher or working professional, but if you get a chance to get in this fraternity, it will surely help you get the best in IT industry.
We are happy and proud to say that we have strong relationship with over 700+ small, mid-sized and MNCs. Many of these companies have openings for Oracle Apps Finance. Moreover, we have a very active placement cell that provides 100% placement assistance to our students. The cell also contributes by training students in mock interviews and discussions even after the course completion.
- Configure applications to support your own accounting, product and other codes.
- Enable the construction of intelligent keys.
- Configure application to capture additional data.
- Use the application to validate values and value combinations entered by the user.
- Support multiple flexfield structures depending on data context.
- Well, since you didn't really mention about the path that you choose in Oracle Apps, let me provide the pre-requisites for all three.
- DBA: Good SQL/PLSQL knowledge. Very good understanding of Oracle core database architecture and concepts. Oracle SQLNet configuration and working knowledge. Knowledge on Concurrent managers
- Technical: Oracle SQL/PLSQL knowledge. Oracle Apps Finance and ADF knowledge is must for all new releases of Oracle ebusiness suite
- Functional: As a matter of fact, this doesn't require any major pre-requisites, you can learn the concepts on the go, but still if you have management degree on operation or Finance , it will be easier for you to grasp the concepts.
A way to learn is go to an IT Training Institute which teaches Oracle Financials. In my view best place to learn would be in Hyderabad, India. Where you can get comprehensive and complete training in less than USD $1000 (roughly 30 classes of 2 hours of theory and 2 hrs of practicals including stay and living expenses) does not include your airfare. Basic accounting knowledge still applies here.
Our course ware is designed to give a hands-on approach to the students in Oracle Apps Finance. The course is made up of theoretical classes that teach the basics of each module followed by high-intensity practical sessions reflecting the current challenges and needs of the industry that will demand the students’ time and commitment.
Nowadays Oracle Apps Finance is in high demand. Oracle Application is a good skill once you are fluent in the work you are doing. Technically, you will not learn that much apart from some plsql, query making etc. It is suggestible to move to OAF, ADF work as well. Also everything is moving to Cloud so is Oracle Apps.
It depends on the concepts that you know. 30 Hours. Course will be 30hrs to 45 hrs duration with real-time projects and working models.
Overall, I believe working on Oracle apps has a good prospect, provided you are up to date with the latest releases and acquire enough knowledge (technical or business processes), to be able to not only fulfill client’s requirement by providing solutions, but also, suggest them better ways of accomplishing the need.
Organizational Classifications in Oracle Financials
- Two vehicles, system organization entities and the chart of accounts, are the cornerstones for securing transactions and modeling an enterprise in the Oracle E-Business Suite. The assembly of these building blocks to model your enterprise will define the representation of your business and your process flows in the applications suite.
- In general, a system organization entity might represent any real organizational unit within a business. Depending on their classification, system entities deliver specific features and controls, such as access control and shared service administration, policy, legal or compliance administration, data storage, and employee administration. Oracle Financials provides names that reflect that functionality. In general, assigning a system entity to represent a real world entity with the same nomenclature is an effective choice.
- By contrast, a chart of accounts representation of a real world entity is an identifier for analysis and accounting, with fewer features and control associated with it. Important entities, such as cost center and legal entity, can be represented by both a system entity and as a value in a chart of accounts section.
- Several system entities are so closely tied to accounting entities that we automatically correlate them; others have looser associations so that you can tune the relationship to your actual organization..
Using Oracle Human Resources with Oracle Financials
- Just as legal entity and ledger structures furnish a strong degree of transactional control, business groups and department structures in Oracle Human Resources provide significant internal control in an enterprise.
- In addition to direct relationships between headcount and spend rates, people and hierarchies are the primary means of authorization and security in an organization. For example, spending controls can be enforced by person and level in the hierarchy. Your internally controlled approval routing goes through a process that you can allow to default to the department hierarchy in Human Resources or to any other hierarchy that you create. Consider the following examples:
- Purchase Approval Hierarchy: Purchase orders entered in Oracle Purchasing utilize workflow to route the purchase order for approval.
- Journal Vouchers: Since journal vouchers can be unique in nature, their approval cannot be restricted to a hierarchy within a particular department. You can create workflow routing rules to personnel in a business group for the approval of journals in Oracle General Ledger.
- Manual Invoices: Manual invoices use Oracle Approval Management Engine (AME) for approval. In turn, AME uses the Human Resources departmental hierarchy and spending authority at every level in the hierarchy to route the invoice.
- Salary might be your primary expense. Oracle Human Resources breaks out salary by your departmental organizations. Broadly speaking, your Human Resources departments will map to Oracle General Ledger cost centers.
- The caveat here is that once you set up your operating units and assign employees to tasks in the various modules, it is difficult to subsequently configure and assign a new business group with your own choice of default information. Therefore, we recommend that you set up a business group while implementing Oracle Financials even if you do not plan to explicitly use it for Human Resource purposes.
Reports
Oracle Financials provides extensive reporting capability as described in the following sections.
Several thousand reports are shipped with Oracle Financials products.
- Filing with the Authorities
Oracle Financials includes many standard reports that are designed to support your ability to file statutory, transaction tax (for example, sales tax, Value Added Tax (VAT), and Goods and Service Tax (GST)), and other reports with authorities in over 120 countries around the world.
- Reconciliation and Control
Many other standard reports are oriented towards reconciling and controlling your data. Examples include receivables aging reports and customer and vendor trial balances.
- Drill-down and Cross Reference
The Oracle E-Business Suite products are integrated and based on a common data model. Interrelated drill-down reports are efficient and comprehensive, and in many cases, several layers deep.
Oracle Financials provides many reports for specific functional areas. Oracle General Ledger and Oracle Subledger Accounting report on accounting affairs. Oracle Receivables and Oracle Payables report on invoices and payments. Oracle Cash Management provides detailed cash flow reports. Oracle E-Business Tax provides reports specifically for sales and value added tax reporting.
You can run reports from our menu system. Extracts are generated from the database and are then formatted and published. Traditional reports have a unique extract. Newer and revised reports may share extracts and allow formatting to hide data that is not required.
Security
- For the most part, access and security to reports of all kinds follows the access and security that are associated with the system representation of your organization and the process involved. Where appropriate, reporting security extends this model. For example, a reporter working on the receivables balance needs to know the full receivable, even if the reporter doesn't have access to each invoice.
The Corporate View
- Local organizations and accounting so that you can comply with local and national rules and regulation.
Of course, it is also important that you manage your businesses and account for them to your shareholders on a worldwide basis. We've described several devices that facilitate the development of information from the locally compliant operations that conform to your management principles and applicable worldwide Generally Accepted Accounting Principles:
- Global Chart of Accounts
- Adjusting Segment Automation and Accounting Rules
- Multiple Ledgers, Ledger Sets, and Accounting Rules
- Translation and Remeasurement Techniques
- Cross Organization Reporting
