Top Oracle Fusion Financials Questions and Answers to Crack Your Interview
1. What are the key features of Oracle Fusion Financials?
A. Oracle Fusion Financials includes a complete suite of financial management applications such as General Ledger (GL), Accounts Payable (AP), Accounts Receivable (AR), Asset Management, and Cash Management. It leverages AI-driven automation, real-time reporting, and integrated cloud capabilities.
2. How does Oracle Fusion Financials differ from Oracle EBS Financials?
A. Oracle Fusion Financials is a cloud-based solution with embedded analytics, a modern UI, and AI-driven automation, whereas Oracle EBS Financials is an on-premises system with traditional reporting tools.
3. What is the role of the Subledger Accounting (SLA) engine in Oracle Fusion Financials?
A. The SLA engine provides a configurable accounting transformation layer, allowing businesses to define custom accounting rules for subledger transactions before they post to the General Ledger.
Configuration & Implementation
4. How do you configure a Chart of Accounts (COA) in Oracle Fusion Financials?
A. COA setup involves defining Value Sets, Segments, Account Combinations, and Hierarchies. Fusion Financials supports flexible segment structures for better reporting and control.
5. What is the significance of the Accounting Hub in Oracle Fusion Financials?
A. The Accounting Hub allows organizations to integrate non-Oracle financial transactions into Fusion Financials, ensuring a unified accounting framework across multiple systems.
6. How do you define and manage intercompany transactions in Oracle Fusion Financials?
A. Intercompany transactions are managed using Intercompany Balancing Rules, where transactions between legal entities are automatically balanced and accounted for, ensuring compliance.
Advanced Functional & Technical Questions
7. What are the different types of Ledgers in Oracle Fusion Financials?
- Primary Ledger: Main accounting ledger
- Secondary Ledger: Used for alternative accounting representations
- Reporting Ledger: For different reporting standards
- Subledger Ledger: Supports granular transaction tracking
8. Explain the role of Business Units in Oracle Fusion Financials.
A. Business Units determine transactional data separation for processes like Payables, Receivables, and Procurement. They help enforce security and reporting structures.
9. How does Oracle Fusion Financials handle Tax Configuration?
A. It uses Oracle Tax (EBTax) for automated tax calculation based on jurisdiction, transaction type, and tax rules.
Reporting & Integration
10. What are the key reporting tools in Oracle Fusion Financials?
- OTBI (Oracle Transactional Business Intelligence)
- BI Publisher
- Smart View for Excel
- Financial Reporting Studio
11. How does Oracle Fusion Financials integrate with third-party systems?
A. Using Oracle Integration Cloud (OIC), Web Services, REST & SOAP APIs, FBDI (File-Based Data Import), and ADFDI (Application Desktop Integrator) for seamless data exchange.
12. How do you troubleshoot journal import issues in Oracle Fusion Financials?
A. Check Import Execution Report, validate Chart of Accounts mapping, ensure data integrity, and review Error Codes in the FBDI upload process.
Security & Performance Optimization
13. How do you manage security roles in Oracle Fusion Financials?
A. Security is role-based, using Job Roles, Duty Roles, and Data Security Policies managed through Oracle Identity Cloud Service (IDCS).
14. How do you optimize performance in Oracle Fusion Financials?
A. Use ESS jobs for scheduling reports, leverage BI Publisher bursting, optimize ledger and segment hierarchies, and tune database queries for large-scale reporting.
15. What are the common challenges in implementing Oracle Fusion Financials, and how do you handle them?
A. Challenges include data migration complexity, configuration alignment with business processes, and change management. Handling them requires proper planning, stakeholder training, and leveraging Oracle’s best practices.
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