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Oracle E-Business Suite R12.1 General Ledger Essentials 1z0-516 is a fundamental exam. Successful completion by candidates will allow them to achieve Oracle E-Business Suite 12 Financial Management Certified Implementation Specialist: Oracle General Ledger status.

Understanding functional and technical aspects of Oracle Planning 2020 Implementation Essentials 1z0-516 Oracle General Ledger Process

The following will be discussed here:

• Advanced Security
• Control security of Management Reporting
• Manage Data Access Sets
• Describe the integration of Oracle General Ledger with Oracle Subledgers & non-Oracle systems
• Identify the steps required to complete the accounting cycle using Oracle General Ledger
• Describe how Oracle General Ledger integrates with other Oracle eBusiness applications
• Manage Data Access Security for Legal Entities and Ledgers
• Explain key Advanced Security setups and process
• Oracle General Ledger Process
• Explain implementation considerations for setting up and using Oracle General Ledger and Oracle eBusiness Suite
• Describe an overview of Accounting Setup Manager, currency concepts, budgeting, EPB, reporting & analysis

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Understanding functional and technical aspects of Oracle Planning 2020 Implementation Essentials 1z0-516 Accounting Setups

The following will be discussed here:

• Use Standard reports and inquiry options available for consolidations Ledger
• Describe Ledger Balancing Segment Value Assignments
• Create Accounting Setups
• Utilize the Account Hierarchy Manager to view and maintain Accounting Flexfield values
• Perform the Secondary Ledger Setup steps
• Use the features and functionality of Global Consolidation System (GCS)
• Creating a new Accounting Flexfield structure
• Use the elements of the Consolidation Workbench
• Accounting Setups
• Describe the various Subledger Accounting Options
• Complete Accounting Setup
• Describe the important elements for creating a Chart of Accounts structure
• Describe the elements required to create a ledger within Oracle General Ledger
• Consolidations
• Create eliminating entries
• Explain overview of Consolidations and their positioning within the Oracle General Ledger business flow
• Identify the key implementation issues regarding consolidations
• Describe the basic components of Accounting Setup
• Perform the Primary Ledger Setup steps

Reference: https://education.oracle.com/pls/web_prod-plq-dad/db_pages.getpage?page_id=5001&get_params=p_exam_id:1Z0-516

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Understanding functional and technical aspects of Oracle Planning 2020 Implementation Essentials 1z0-516 Multi-Currency

The following will be discussed here:

• Perform Foreign currency journals Entry
• Perform Revaluation of foreign currency balances
• Translate functional balances into foreign currency
• Describe overview of Secondary Tracking Segment
• Explain Multi-Currency concepts
• Multi-Currency
• Use Foreign Currency Reports
• Use Currency Rate Manager