Oracle 1Z1-516 : Oracle EBS R12.1 General Ledger Essentials

  • Exam Code: 1Z1-516
  • Exam Name: Oracle EBS R12.1 General Ledger Essentials
  • Updated: Jun 04, 2026
  • Q & A: 180 Questions and Answers

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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:

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

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

The following will be discussed here:

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

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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