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Oracle 1Z0-516 : Oracle EBS R12.1 General Ledger Essentials

1Z0-516

Exam Code: 1Z0-516

Exam Name: Oracle EBS R12.1 General Ledger Essentials

Updated: Jun 08, 2025

Q & A: 180 Questions and Answers

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About Oracle 1Z0-516 Exam

Understanding functional and technical aspects of Oracle Planning 2020 Implementation Essentials 1z0-516 Financial Budgeting

The following will be discussed here:

  • Explain Budget Entry methods
  • Apply Budget Rules
  • Review balances in Master/Detail budgets
  • Transfer budget amounts
  • Translate budget balances
  • Plan Budget implementation requirements
  • Financial Budgeting
  • Create budgets with Budget Wizards
  • Explain the anatomy of a budget
  • Perform budget review and correction
  • Explain the components of budget accounting cycle
  • Use available Standard budget reports
  • Define budget and budget organization

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

The following will be discussed here:

  • Use Budgetary Control & maintain Summary accounts
  • Define How Parent Values/ Rollup Groups are used in General Ledger
  • Describe key issues and considerations when implementing Advanced Journal Entry
  • Explain the Period Closing Process and Reports
  • Period Close
  • Consolidate account balances
  • Perform journal import of subledger balances
  • Explain summary accounts and how they are used in General Ledger
  • Describe the Journal Scheduling process
  • Plan and maintain Summary Account structures
  • Perform Subledger Reconciliation
  • Explain AutoScheduling
  • Explain the accounting cycle
  • Determine how Summary Templates are used
  • Summary Accounts
  • Describe the business benefits of using Oracle General Ledger's Advanced Journal Entry functions
  • Perform key steps in the close process

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

The following will be discussed here:

  • Create Recurring Journals
  • Describe Secondary Ledgers & Reporting Currencies
  • Describe Accounting Setup considerations with no legal entities
  • Formulate Mass Allocation Journals
  • Describe Accounting Setup considerations with one legal entity
  • Advanced Journal Entries
  • Accounting Setup Manager
  • Describe AutoAllocations and related implementation considerations
  • Describe Accounting Setup considerations with multiple legal entities
  • Describe the components of Ledger Processing options

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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