Top Oracle Fusion Financials Interview Questions and Answers

Last updated on 12th Nov 2021, Blog, Interview Questions

Oracle fusion applications include the suite of Oracle applications that help in driving the business operations efficiently. Oracle Fusion is a platform that helps in performing tasks like enterprise resource management, human relation management, customer relationship management, the crucial parts of the organization. In this article, you can go through the set of Oracle Fusion financial interview questions most frequently asked in the interview panel. And these lists will help you to crack the interview as the topmost industry experts curate these at ACTE training.

1. What exactly does Oracle mean by ‘Fusion’?

Ans:

Oracle Fusion Applications is the name of new business software applications that generally came to be available in October 2011. The market started talking about fusion applications many years ago. Oracle also adopted the name fusion which is adopted by every Oracle application by simplifying all the media server layers for running functionality of varied kinds. The shift in the way people work needed to be reflected in enterprise application solutions.

2. Why did Oracle decide to build a new product from scratch?

Ans:

Oracle decided to start from zero where the one reason behind it is that Oracle needed to define a development roadmap for all of the ERP systems it owns. Well, this might not have been the most important reason; it was far from the only reason. Another that today many organizations are embracing service-oriented applications and they want industry-standard application platforms and ERP systems needed to adapt to it.

Businesses are evolving into the new, more social network environments the company sees their employees are connected through chat, social networking sites, online communities, and also sort of capabilities that are used for our personal lives on a daily basis.

3. What are Oracle Fusion Apps Goals?

Ans:

It has been significantly observed that it has been used in new standards for innovation, work, and adoption respectively. Building a product on an open standard which allows the organizations to lower cost by having commonly available skills in the marketplace.

Lower the risk of integration with other applications which in turn makes it easier to configure, maintain, and protect all your configurations during the upgrades. Companies have to adapt to the challenges of the market and the configurations of the current systems that are hard to change in the fast environment.

4. What is Oracle Fusion Middleware?

Ans:

Oracle Fusion Middleware is a foundation for innovation built to improve efficiency by providing agility. This seeks to provide help for carrying out the business on a digital platform significantly. The entire process ensures high performance, agility, longevity with reliability at any scale respectively.

This will also eventually help in lowering the cost of the organization to experience more productivity at work respectively. They dynamically provide a cutting-edge solution for the betterment of business growth in a significant way.

5. What Are Choices Recommended As Far As Adopting Fusion Applications?

Ans:

The application helps to run and manage every program irrespective of software and hardware in an efficient way. To configure a business systematically and strategically the middleware acts as a key driving component to a large extent considerably. Therefore, the key components include Business Intelligence, User Interaction, Application Grid, Content Management, and many others in a wider spectrum respectively.

6. Are Oracle Fusion Applications Available for Purchase?

Ans:

Oracle Fusion Application is highly available for the customer’s purchase in every marketplace respectively. The customers can easily buy and upgrade it on a specific time period according to its choice of preference. The entire process needs to be done under Oracle Authorized Certification for all such migration/purchasing programs. The Oracle authority will solely review and study the customer’s preferences in its initial release.

7. Did Anyone Deployed Fusion, And How Exactly Are They Doing?

Ans:

It has been noted so far only one such successful incident was solely announced by Oracle Press Release.

8. What Is the Early Adopter Of Oracle Fusion Applications?

Ans:

There are various services under the early adopter program which include :

• Oracle solely handles service requests.
• They assemble meetings for a required project and also organized special training of system integrators.
• It also looks into the customer’s requirements and tries to figure out to meet their needs responsively.
• They also provide customer support both before and after go-live.

9. Are Oracle Fusion Applications A Replacement For The Existing Oracle Applications, Such As Oracle E-business Suite, Peoplesoft Enterprise, Oracle’s Jd Edwards Applications, And Siebel CRM?

Ans:

It is falsely and wrongly stated as it is a new set of applications in the Oracle Fusion apps. They are widely used in the previous application such as the Oracle E-Business Suite has given the Oracle Fusion concept. Likewise, Siebel has given the CRM concept.

10. What Are Different Available Deployment Options Available For Fusion?

Ans:

The varied deployment options are as follows :

• Private Cloud
• Premise
• Public Cloud
• Hybrid Cloud

11. What Are The Licensing Requirements Of Oracle Fusion Applications?

Ans:

The official Oracle website contains much of the detailed information about the pricing information as well as the licensing requirements for the buyers. They have covered various areas of the application process such as human capital management, CRM, project portfolio management, and many others in a wider spectrum.

12. How is security for Oracle Fusion Application?

Ans:

The application is highly secured with widely known features such as :

• Data Security
• RBAC
• Privacy
• Function Security

Access provisioning and identity management: Eventually for the initial setup the application creates an initial user which is highly recommended and necessary for the entire setup thing. The Oracle Fusion Middleware is integrated through Oracle Fusion Application to make the Oracle IM available. The various possibilities include user account linking, user identities are managed and programmed, user control is managed, OIM workflow is also managed during the entire procedure significantly.

Segregation of duties policies: The program is solely responsible for the activity of processing, approving, recording in identifying or preventing the various programming errors over data transformation, tools, technologies to access everything in a free-flowing process respectively.

13. How about the data model for Fusion?

Ans:

• The global organization required a flexible enterprise structure with the help of logical stripping data.
• The various bunnies units look after and manage the transaction data respectively.
• Sets of codes can be used for various business units.
• It solely uses a hierarchy model to offer flexibility in carrying out the business process in an organized way.

14. Does Fusion Application have flex field features?

Ans:

It is absolutely stated rightly that Fusion Application does have flex field feature which generally features three types :

• Key Flex fields
• Descriptive Flex Fields
• Extensible FlexFields

These three types of flex fields help in the process of configuring the application for the implementers with the sole support of the Oracle Fusion Applications respectively.

15. What is so special about Fusion User Interface?

Ans:

The Fusion User Interface is the best of its kind compared to another application in the market. It is widely used by the customers in the most convenient way which eventually gains huge productivity profit significantly.

Some of its good features include :

• The business needs are significantly fulfilled with a role-based dashboard respectively.
• Bind together the entire worklist significantly.
• It provides reference information with contextual help.
• The search experience option with relevant data.
• Associate keyboard with tagging feature.
• Person contact information related to your work or task respectively.

16. Is this application available for download?

Ans:

The Oracle E-delivery offers to provide only the Beta Version of the application which can be downloaded in general by all users.

17. What is different about Oracle Fusion Applications?

Ans:

The application is solely used for usability compared to most other applications in the market. It is widely used not for functionality but its key feature is its usability to a large extent significantly. The testing session is done by the great usability team under the Oracle authority. They work as a whole team and emphasize the design pattern, guideline, and scheduling of the work respectively.Thus, the application could easily carry forward the entire work process with the intelligent user experience.

18. How about the Approval Management in the Fusion Application?

Ans:

In the Fusion Applications, the human workflow is solely managed by the AMX which acts as an assignment manager to model down approval patterns based on your work needs and preferences respectively.

19. How about the audit feature in the Fusion Application?

Ans:

To handle all kinds of work-related tasks the Fusion Application applies the Oracle Fusion Middleware Audit Framework respectively. The accountability of any work process is solely handled by the audit feature significantly.

20. What Are The Other Replacement Features In Fusion That Makes A Difference To Ebs User?

Ans:

Some of the few optional features include :

• OICM is replaced by the Access Control Governor.
• Date Track is replaced by Date Effectivity.
• The operating Unit is replaced by the Business UnitM
• FND User is replaced by the Identity Manager.

21. What Is Replacement Of Processing Like Concurrent Program Or Concurrent Manager Similar To Ebs In Fusion?

Ans:

The entire process built up for scheduling, defining, and running varied kinds of jobs that are eventually run on high demand or run to schedule them for the future.

22. What are the major footprints in Fusion Financial Management?

Ans:

The Oracle Fusion Application suite consists of an element named Fusion Financial Management. The application helps to access information with real-time intelligence. There are various features that describe the Fusion Financial Management are :

• Asset Management
• Payments and collection
• Accounts Payable
• Cash and Expense Management
• General Leader
• Accounts Receivable

23. What are the Major benefits for Ebs Financial Users?

Ans:

There are several user benefits for Ebs Financial Users that are highly recommended are :

• Centralized inter-unite setup and processing
• Shared reference data
• Flexible cash positioning with multi-level access
• AP matching with rules-based engine
• Cash advances and travel authorization
• Open item reconciliation processing
• Comprehensive budgetary controls
• They can see Graphical hierarchies

24. What are the major benefits for Psft Financial Users?

Ans:

There are several user benefits for Psft Financial Users that are highly recommended are :

• Advanced Collection
• Bill Presentment Architecture
• Cash basis accounting
• Credit card processor integration
• Advanced Collection

25. What Is Re-sequencing And Dynamic Routing In Mediator?

Ans:

It is a process of reordering messages to prevent them from going in the wrong format in the Oracle Mediator. Therefore, it widely acts as a re-sequencing of the jumbled data or message in a sequential way for a better understanding of the work process respectively. Hence, the entire process requires the re-sequencing of the message widely. This entire process is applicable for all operations or a preferable specific operation.

Dynamic Routing acts as a running technique to detect the exact routing path to solve the arising problem by rerouting to various other paths or directions.

26. What is Echo in Oracle Mediator?

Ans:

To make it act or respond to a callable service the echo option is used for such a purpose. It widely helps in the smooth functioning of the Oracle Mediator without the need of a specific route to run the service. The Oracle Mediator responsible carry out the different functions such as assignment, transformation, scheduling, and much other. This will eventually help to echo the Oracle Mediator back to the application.

27. What is Schematron Validation?

Ans:

An inbound message can be validated by Schematron Validation. It largely supports Schematron version 1.5 respectively for validating the messages. To validate the XML the Schema language is used considerably.

28. What is File DeBatching?

Ans:

When multiple messages can be found in a single file the user can select to publish its choice of message in a specified number of batches respectively. This entire process is considerably named as de-batching. The files such as native format and XML are supported for de-batching.

29. What is the role of the Oracle Mediator?

Ans:

Oracle Mediator carries out the key features which act as a key component to deal with callbacks, returned responses, and faults or error issues respectively. The Oracle Mediator works as an intermediary between various services and events for a significant service invocation. Thus, the Oracle Mediator provides services on validation, evaluating, routing rules, and much other. Therefore, the key features of the Oracle Mediator are :

1. Synchronous and Asynchronous Interactions

2. Transformations

3. Header-Based Routing

4. Validation

5. Error Handling

6. Event Handling

7. Dynamic Routing

8. Multiple Part Message Support

9. Java Callouts

10. Oracle Mediator Echo Support

30. What is the foundation for Fusion Application?

Ans:

The application is basically built on the open standard platform which tends to be very strongly powerful for industrial-leading growth. The application seeks to provide business intelligence, security, searching capability, user interface framework, collaboration, and various others based on the Oracle Fusion Application.

31. What do you understand about the term oracle fusion applications?

Ans:

Oracle fusion applications are the applications developed by Oracle, often called the next-generation applications. It is designed and developed based on the previous Oracle application offerings like Oracle PeopleSoft enterprise, etc. This product is developed from scratch and using Java as its programming language, and the product development is done based on the practically used inputs from the Oracle customers.The oracle customers give the information via the client council for this product application.

32. List out the three essential components of the GL set of a book?

Ans:

The following are the three essential components of the GL set of a book :

Accounting calendar :

The accounting calendar usually refers to the accounting year and the periods. It includes information about the accounting year and their periods. It also helps you define the multiple calendars and assign the different calendars to each set of books.

Chart of accounts :

The chart of accounts is the structure of the account that helps you define the specific needs of your business or organization. It allows you to choose a number of account segments along with the length name and order of each segment.

Currencies :

Currencies allow you to select the functional currency for your set of works and also the other currencies that you would like to use to transact the business and report the same.

33. What do you know about the target and offset accounts in the allocation formula?

Ans:

Target and offset accounts are the lines that represent the journal entry.

Target (T) : Is option allows you to enter the account in the target line to give the information about the destination for your allocation.The value that you use in the target should be the same parent value that is used in the B and C lines of the formula.

Offset (O) : This option allows you to enter the account in the observed line to represent the account to use for allocation of the offsetting debit or credit.The official account usually refers to the same account as the formula line A to reduce the cost by the allocated amount.

34. What Is Replacement Of Processing Like Concurrent Program Or Concurrent Manager Similar To Ebs In Fusion?

Ans:

The entire process built up for scheduling, defining, and running varied kinds of jobs that are eventually run on high demand or run to schedule them for the future.

35. List out the different number of segments that are available in the key flex fields in Oracle general ledger?

Ans:

Oracle general ledger key flex field allows you to have 15 columns, each representing the segment. Different types of seconds available in Oracle general ledger key flex field are :

• Balancing segment
• Cost Center segment
• Intercompany segment
• Account segment

36. List out the different statuses that are available in the accounting period.?

Ans:

There are different statuses available in the accounting period. They are listed below :

1. Never opened : This Status means that you cannot enter or post journals.

Future enterable : This Status lets you enter the journal but does not allow you to post. It consists of a fixed number of the future enterable period available in the set of books window. It also provides the flexibility to change the number of future enterable periods at any point in time.

Open : The open status allows you to enter and post journals to any open period. It also allows any number of periods to be opened, but this might slow down the processing and can confuse the customers for the users entering the journal.

Closed : The closed status does not allow you to post any journals in the closed period. You need to reopen the closed period before posting the journals. It will enable you to close the period manually after the monthly, quarterly or yearly processing.

37. List out the essential components of the GL set of a book?

Ans:

The following are the three essential components of the GL set of a book :

Accounting calendar	Chart of accounts	Currencies
The accounting calendar usually refers to the accounting year and the periods. It includes information about the accounting year and their periods.	The chart of accounts is the structure of the account that helps you define the specific needs of your business or organization.	Currencies allow you to select the functional currency for your set of works and also the other currencies that you would like to use to transact the business and report
It also helps you define the multiple calendars and assign the different calendars to each set of books.	It allows you to choose a number of account segments along with the length name and order of each segment.	It also helps you define the multiple calendars and assign the different calendars to each set of books.

38. Did Anyone Deployed Fusion, And How Exactly Are They Doing?

Ans:

Only one such active event has been noted so far, which has only been announced by the Oracle Press Release.

39. Briefly give an idea about the benefits of flex fields?

Ans:

Flexfields includes the below-mentioned advantages :

1. Flexfields help in configuring applications to provide support to your tu Yaar on accounting, codes and products.

2. Flex fields make use of the application to validate the value and value combinations that are entered by the user.

3. Flex fields also help in providing its extensive support to the multiple flex fields structures that depend upon the data context.

4. Flexfields also help in enabling the construction of the intelligent keys.

5. Flexfields help in configuring the application to capture the additional data.

40. Briefly list out the value set security types?

Ans:

The following are the value set security types available :

No security : This security type means that the security is disabled for this value set.

Hierarchical security : This security type provides the features of the valued security and the value hierarchy and combines them. This Security feature makes sure that any security that is applied to the parent value will also be applicable to the child value.

Non-hierarchical security : In the non-hierarchical security type, the security is enabled, but the rules of the hierarchical security are not applicable.

41. Briefly describe the different conversion rates available in Oracle GL?

Ans:

There are five different types of conversion rates available in Oracle GL. They are listed below :

Spot : Spot is the exchange rate based on the rate for a specific date. It applies to the immediate delivery of a currency.

User : User refers to the exchange rate that you enter during the foreign currency.

Corporate : Corporate refers to the exchange rate that helps in standardizing the rates of your company or organization. This rate usually refers to the standard market rate it is determined by senior financial management for use throughout the organization.

User-defined : User-defined rate type is the rate that is defined by a company to meet the specific needs requirements of the business.

Emu fixed : This is the exchange rate that is used by the country’s joining the year during the transition period to the euro currency.

42.Briefly describe the purpose of the state journal?

Ans:

A Stat journal is used to associate the statistical amounts with the monetary amount by making use of the statistical units of measure. It also provides the flexibility to enter both the statistical and the monetary amount in a single journal entry line.

43.Do you have an idea of how many buttons are there under the more actions button? What are they? What is the status of a newly entered journal?

Ans:

Yes, I do have an idea of the number of buttons that are available under the more actions button. There are three buttons by default on the manual journal entry form. They are: change currency, more actions and more details.

44. Give a brief idea about flex field qualifiers in GL?

Ans:

There are different types of flex field qualifiers in GL. They are represented below :

1. Natural account : You need to know that each accounting flex field structure should contain only one natural account segment. You will need to indicate the type of the account as asset or liability, owners equity, expense or revenue when you are setting up the values.

2. Balancing account : Each flex field structure should contain only one balancing account. Oracle GL is very keen about ensuring all the journals balance for each balancing segment.

3. Cost centre : It is required by the Oracle assets which are used in many of the Oracle assets reports and by the Oracle workflow. It is used to generate the account numbers. You can also utilize the cost Centre segment that allows or provides you with the oracle apps training and Oracle purchasing.

4. Intercompany : The oracle GL is flexible as it automatically uses intercompany segments to track the intercompany transactions taking place with a single set of books. This segment maintains the same value set and the same values as the balancing segment.

45.Can you describe a given idea about the unique feature of the net income account and the purpose of the transaction calendar?

Ans:

The net income account is used by Oracle GL to capture the activity of all the revenue and the expense accounts. This helps in calculating the average balance for the retained earnings. The transaction calendar is used in Oracle GL to enable the average balance processing, and it is created only with the valid business days mentioned.

46.How is security enabled in Oracle fusion applications?

Ans:

Oracle fusion applications have come up with the widely known features such as :

• RBAC
• Privacy
• Data security
• Function privacy
• Access provisioning and identity management : In the initial step, the application creates an initial user, which is highly recommended and necessary. Oracle Fusion Middleware is integrated with the Oracle fusion applications to make the Oracle IM available. The Other various possibilities to ensure security include user identities being managed and programmed, user account linking, OIM workflow, user control management etc.
• Segregation of duties policies : This program is responsible for processing, approving, recording, identifying or preventing the various programming errors over database management, data transformation, tools, technologies to access everything in a free flow.

47.How about the audit feature in Fusion Application?

Ans:

The Oracle Fusion Middleware Audit Process extends to all sorts of work-related activities of the Fusion Application. Responsibility for any work process is greatly controlled solely by the audit feature.

48. How about the Approval Management in Fusion Application?

Ans:

In Fusion Applications, the human workflow is handled exclusively by AMX,which serves as the assignment manager to model the approval pattern based on the job needs and preferences.

49. Does Fusion Application have flex field features?

Ans:

It is quite rightly mentioned that the Fusion Application has a flex field function which typically includes three types :

1. Key Flexfields

2. Descriptive Flex Fields

3. Extensive Flex Fields

These three types of flex field help to customise an application for implementers with the sole support of Oracle Fusion Applications.

50. How about the data model for Fusion?

Ans:

The global organisation, with the aid of logical data stripping,needed a versatile corporate structure.

1. The different bunnies are responsible for and handle the transaction details.

2. Code sets can be used with different business units.

3. It only uses a hierarchical model to provide consistency in the organisation of the business process.

Access provisioning and identity management : finally, for the initial setup, the framework generates an initial user that is highly recommended and required for the entire setup. The Oracle Fusion Middleware is integrated with the Oracle Fusion Application to make the Oracle IM accessible. Various options include user account connections, user identities are controlled and configured, user control is managed, OIM workflow is also significantly managed in the process.

51. how is the workflow managed in Oracle Fusion?

Ans:

In the Fusion Applications, the human workflow is solely managed by the AMX which acts as an assignment manager to model down approval patterns based on your work needs and preferences respectively. 19. How about the audit feature in the Fusion Application

52. Did anybody Deploy Fusion, and specifically the way specifically area unit They Doing?

Ans:

Till date terribly restricted data. Few months back Oracle press free proclaimed one winning announcement, this could be a part of an early parent program. There is only 1 live client that has enforced some Oracle Fusion Applications practicality in Associate in nursing augmentation state of affairs.

53. What area unit completely different obtainable preparation choices are area units obtainable For Fusion?

Ans:

Oracle Fusion Applications is obtainable with the subsequent preparation options :

On premise, hosted by the enterprise :

Public cloud (available to the final public. , hosted over the net by Oracle, package as a service (SaaS) , or Oracle business partners giving business method outsourcing (BPO) solutions.

1. Private cloud (available internally behind a firewall. , hosted as a SaaS or BPO giving Hybrid, Associate in Nursing implementation of each on premise and cloud.

54. What’s Early Parent Of Oracle Fusion Applications?

Ans:

The Oracle Fusion Applications Early parent client Program (EAP) is by invite solely and permits strategic customers to urge direct active access to the next-generation Fusion Applications package before general accessibility.

Oracle Highlighted the subsequent services as a part of its early parent program :

1. Oracle development observance of service requests : Users service requests are Monitored by development Special coaching of system measuring instrument and enterprise resources Development can host a kickoff meeting for the project, and is directly concerned in coaching clients and system measuring instrument resources.

2. Oracle development vetting of client use cases : Oracle development resources are directly concerned in reviewing the customer’s unreal use of Oracle Fusion Applications to make sure that the customer’s necessities will be met.

3. Customers have direct input to Oracle development : as customers bear the implementation, they will notice some practicality doesn’t meet their specific necessities, and that they are a unit able to have direct input back to development to handle these problems. However, this is often additional suited to careful purposeful problems, not major purposeful areas.

Oracle development monitors client systems each before and when go-live.

55. However concerning the information Model For Fusion?

Ans:

Oracle Fusion Applications uses a unified information model that could be a superset of E-Business Suite, PeopleSoft, JD Edwards, and Siebel entities and attributes. you’ll extend this information model whereas maintaining consistent linguistics. Logical information marking offers versatile enterprise structures for international organizations.

Reference information sets alter business units to share reference information. Reference information is managed by sets. Transactional information is managed or patterned by business units. You can assign sets of codes to every business unit. Oracle Fusion Applications uses Trees, a hierarchy model that gives versatile hierarchies for cross line of business processes.

56. What’s this special For Fusion User Interface?

Ans:

Compared to alternative Oracle applications, Fusion computer program is fancy to be better of breed. It’s customer-driven and has an intuitive style of the applications which ends in giant productivity gains.

57. However concerning the Approval Management In Fusion Application?

Ans:

In Fusion, AMX is a complicated assignment manager at intervals of human work permitting you to model complicated approval patterns supported business rules.

58. However, concerning Audit Feature In Fusion Application?

Ans:

Fusion Application implements Oracle Fusion Middleware Audit Framework to handle all .In alternative word as typical audit feature like providing a live of answerability. This framework cowl many key audit options driven by compliance, monitoring, and analytics necessities.

59. What square measures the opposite Replacement Feature In Fusion that produces A distinction To east by south User?

Ans:

Yes there square measure number of them, here square measure few :

• Identity Manager in Fusion apps replaces FND User
• Business Units is replaced operational Units
• Access management Governor replaces OICM
• Date power replaces DateTrack.

60. What’s Replacement Of process Like coincidental Program Or coincidental Manager like east by south In Fusion?

Ans:

Oracle Enterprise hardware provides the power to outline, schedule, and run differing kinds of jobs. you’ll run jobs on demand, or schedule them to run within the future.

61. What are the Flexfield qualifiers?

Ans:

A key Flexfield qualifier is like a label that will be attached to a particular key Flexfield segment.The application will be able to identify a segment through this key Flexfield qualifier. Here are the types of Flexfield qualifiers.

• Natural account
• Balancing account
• Cost center
• Intercompany

62. Tell the difference between KFF and DFF.

Ans:

The differences between Key Flexfield(KFF. and Descriptive Flexfield(DFF) are,

• KFF is a unique identifier, and DFF is used to capture additional information.
• KFF is a mandatory field, and DFF is an optional field.
• KFF is application-specific, and DFF is form specific.
• Cross-validation rules apply to KFF and not applicable to DFF.
• KFF is stored in the segment column, and DFF is stored in the attribute column.

63. What is a Set of Books, and in which table the Set of Books is stored?

Ans:

Set of Books is useful to identify a company or fund within Oracle Applications.It shares a common chart of accounts structure, calendar, and functional currency. It is stored in the GL_SETS_OF_BOOKS table.

64. What tabbed regions are available in the Set of Books definition form?

Ans:

The below five tabbed regions will be available in the Set of Books definition form.

• Closing
• Journaling
• Average Balances
• Budgetary Control
• Multiple Reporting Currencies

65. Explain dynamic insertion?

Ans:

The process of inserting new valid combinations into a combinations table from a form which is not combinations form is called dynamic insertion. If you allow dynamic insertion for key Flexfield,a user can enter a new combination of segment values from a foreign key form in the Flexfield window.

66. What are the types of Value Sets?

Ans:

There are 8 types of value sets :

• None
• Independent
• Dependent
• Table
• Special
• Pair
• Translated Independent
• Translated Dependent

67. Which report can we use to identify duplicate suppliers?

Ans:

A supplier audit report is used to identify duplicate suppliers.

68. What are the statuses of an accounting period?

Ans:

There are 5 statuses of an accounting period.

• Never Opened – We cannot enter or post journals.
• Future Enterable – We can enter the journal but cannot post it.
• Open – We can enter and post journals within the open period.
• Closed – We cannot post journals. If we want to post journals, we can reopen them.
• Permanently Closed – These accounting periods cannot be reopened.

69. What general ledger tables will get impacted when a journal is created?

Ans:

When we create a journal,it will impact the following tables.

• GL_JE_BATCHES
• GL_JE_HEADERS
• GL_JE_LINES

70. What is the formula for creating allocation journals?

Ans:

The formula for creating allocation journals is,

A*B/C :

• A – It is the cost pool that will be allocated for the journal. This can be an amount or account balance.
• B – It is a numerator of the factor that divides the cost pool for the allocation.
• C – It is the denominator of the factor. It can be a number or statistical account.

71. What are the prerequisites for conversion?

Ans:

The following are the prerequisites for conversion.

• Define new currencies
• Enable seeded currencies
• Define rate types
• Enter daily rates

72. What is the market share of Oracle Fusion financials?

Ans:

According to research Oracle Fusion Financials has a market share of about 1.1%. So, You still have the opportunity to move ahead in your career in Oracle Financials Cloud.

73. What do you need to know about Oracle Financials?

Ans:

According to a survey, out of the customer base of Oracle Financials, 27% of them are software, 22% of them are banking, 13% of them are Information Technology and Services, and 6% of them are Financial Services. So there is a high demand for Oracle Financials developers. These questions will help you in scoring the dream job that you seek.

74. When is Oracle Fusion ERP named a leader?

Ans:

Austin, Texas—May 13, 2021 Oracle Fusion Cloud Enterprise Resource Planning (ERP. has been named a Leader in 2021 Gartner “Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises” for the fifth consecutive year.

75. What makes Oracle Fusion the best cloud platform?

Ans:

Oracle Fusion Applications are driven by five tenets focused on a customer-first mindset, with the industry’s most complete cloud, built on the best technology platform, delivering the fastest innovation, and a modern user experience for our customers.

76. What do you need to know about Oracle Cloud ERP?

Ans:

Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials , accounting hub, procurement , project management, enterprise performance management, risk management, and subscription management.

77. Which is the best cloud ERP for midsize businesses?

Ans:

Oracle Fusion Cloud ERP Named a Leader for Fifth Straight Year in 2021 Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises Oracle placed furthest to the right for completeness of vision and highest for ability to execute compared to 9 other vendors Austin, Texas.

78. Which is the Best ERP software for small businesses?

Ans:

SAP Business ByDesign (ByD. is a comprehensive cloud enterprise resource planning software (Cloud ERP. that is sold and operated as software as a service (SaaS. by SAP SE. It is designed for small to medium-sized enterprises as well as subsidiary businesses.

79. What do you need to know about Oracle Cloud financials?

Ans:

Oracle Cloud Financials Deliver decisive insights into your company’s financial position and profitability with a comprehensive global solution designed for organizations of every size and industry. Use Oracle Fusion Cloud Financials to help fulfill your finance team’s and company’s goals. Pivot forward and define your future

80. What are the business attributes in Oracle Financials?

Ans:

The core task of Oracle Financials applications is to track the appropriate business and accounting attributes of a transaction. Business attributes are tracked in the product modules and include such details as trading partner, subject matter, quantity, price, agent, employee, tax, addresses, dates, and so on

81. How to categorize transactions in Oracle Financials?

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Oracle Financials enables you to categorize and classify your transactions to the level of granularity required to reflect each of these organizations. A single transaction can be categorized as follows: On the Legal axis: By company or other legal entity, by groups of companies, and by establishment.

82. How to improve business processes with Oracle Financials?

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Improve business processes with integration to Oracle Financials and GetThere. Enforce expense policies with automated compliance checks against policies, tailored approvals, and selective audits. Reduce month-end close time from days to hours using touchless joint venture rules-based processing.

83. What is cloud financial?

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Cloud finance management is the new evolution in manual finance management. It decreases error occurrence level to almost negligible. It helps to get financial reports quickly and handy. A business owner now can show business health to investors at any time & anywhere.

84. What is Oracle Financial leverage?

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Oracle’s financial leverage is the degree to which the firm utilizes its fixed-income securities and uses equity to finance projects. Companies with high leverage are usually considered to be at financial risk.

85. What is oracle financial consolidation and close cloud-FCCS?

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What is Oracle Financial Consolidation and Close Cloud Service FCCS? Oracle rolled out Financial Consolidation and Close Cloud Service (FCCS. and brought key parts of Hyperion Financial Management (HFM. and Financial Close to the Cloud.

86. What was the original name of the company Oracle?

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Oracle started in 1977 as a Silicon Valley startup known as Software Development Laboratories. The name eventually changed to Oracle and the company became known for their pioneering database technology.

87. Which is the global release of Oracle Financials?

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Oracle Financials Applications are part of Release 12, “The Global Business Release”. We think of global both as relating to or involving the entire earth and facilitating your worldwide operations by being comprehensive and including everything you need.

88. What to expect from Oracle Financials cloud release 12?

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Upgrade-Safe Reference Role Model – Starting from Release 12, pre-defined roles that are shipped with Oracle Applications Security will be locked down. Customers will not be able to modify the functional and data security policies that are associated with these roles.

89. What are the benefits of Oracle Release 12?

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Release 12 makes it easier and less expensive for you to implement, manage, and scale global applications. Reduce the cost and complexity of representing your business in the software. With tools such as the Accounting Setup Manager and Legal Entity Configurator, Oracle Financials, Release 12 easily adapts to your environment.

90. What is the purpose of an Oracle Financials application?

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Oracle Financials applications are a subset of this suite and are a family of products designed to capture and analyze your financial data on a worldwide basis.

91. What are features of Oracle 10 G Release 2?

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Oracle Database 10 g Release 2 includes dimensionality support, next-generation features, and other features that are exploited by the financial applications. The cumulative effect of having a common data model, all applications on a single instance, and the applications themselves fully integrated, is that all of your information is in one place.

92. Which is no longer available in Oracle security manager release 12?

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A Simplified User Experience for the IT Security Manager – Prior to Release 12, security administration functions were distributed across Oracle Identity Management (OIM. and Authorization Policy Manager (APM. . In Release 12, these functions are delivered through a single interface – the Security Console. OIM and APM are no longer available in R12.

93. Is there a parallel upgrade in Oracle Database 12 C?

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Oracle Database 12 c introduces the new Parallel Upgrade Utility, catctl.pl. This utility replaces the catupgrd.sql script that was used in earlier releases. Although you can still use the catupgrd.sql script, it is deprecated starting with Oracle Database 12 c and will be removed in future releases.

94. What is the difference between Oracle Fusion and Oracle Cloud?

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Oracle Cloud on the other hand is where the Oracle Fusion Applications reside. Hence unlike the Oracle EBS On Premise which used to be hosted on servers/data centers in client premises, the Oracle Fusion Applications for a client are stored in remote servers and hence the term ‘Cloud’.

95. What is the full form of EBS in Oracle?

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Oracle EBS is a set of integrated business applications provided by Oracle. It is an abbreviation for its full name, Oracle E-Business Suite. It combines a list of Oracle applications that help businesses with a wide variety of their processes.

96. What’s the difference between Oracle EBS and fusion?

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Oracle EBS is different from Oracle Fusion Cloud. Both have its merits and demerits. But still, the fusion cloud is much more advanced and has the best user interface.

97. Which is better: EBS 11i or Fusion apps?

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Here are some reasons why: It’s positioned as the next-generation Business Applications solution by Oracle It’s built on a service-oriented architecture and SaaS model. All in all, it certainly isn’t a bad choice. Fusion is great but, if you’re using EBS 11i now, upgrading to R12 might be better as an initial step.

98. What is Fr lab used for in Oracle Fusion?

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Financial Reporting Studio is a customer-based financial management platform used to build Oracle Fusion’s financial reports. This is just like Oracle Applications FSG files. This FR lab is focusing on the balances in GL. It Uses drag-and-drop features to build a grid to organize the financial report rows, columns and sections.

99. How is the Oracle Financial Reporting studio used?

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Oracle Financial Reporting Studio is used to create financial reports based on the GL balances cube data. Then, use the Financial Reporting Center to view and drill into reports.

100. What kind of tool is Parfait from Oracle?

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Parfait is a static code analysis tool from Oracle Labs that finds vulnerabilities in web applications written in C/C++, Java, and Python. Programming language design, semantics, algorithms, and implementation with an emphasis on convenient use of parallelism using multicores and GPUs.