Oracle Fusion Financials Interview Questions

Last updated on Nov 23, 2023

Following Oracle's acquisition of PeopleSoft and JD Edwards, they announced the upcoming release of a new product suite named Fusion. This suite, Oracle Fusion, integrates the standout features of PeopleSoft, JD Edwards, and Oracle's own apps into an innovative new offering. Since its launch in 2010, Oracle Fusion has been widely adopted by numerous companies.

Given the limited resources available online for preparing for Oracle Fusion Financials interviews, our experts have compiled a comprehensive list of the top 30 Oracle Fusion Financials interview questions. These questions encompass both fundamental and advanced aspects of the software. Explore these frequently asked questions and their answers to deepen your understanding of Oracle Fusion Financials.

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Frequently Asked Oracle Fusion Financials Interveiw Questions

1. What are Oracle Fusion Applications?

Oracle Fusion Financials Applications is an integrated suite designed by Oracle on the Oracle Fusion Middleware. It is the combination of the best features and functionalities from  Oracle E-Business Suite, JD Edwards, PeopleSoft, and Siebel product lines. It has the capability of service-oriented architecture (SOA). It offers applications for financial management, customer relationship management, supply chain management, procurement, human capital management, etc. 

2. What is Oracle Fusion Middleware?

Oracle Fusion Middleware is a comprehensive suite of tools and services, including Java EE and identity management. It supports the development, deployment, and management of sophisticated business applications, providing essential services like transactions and messaging for enhanced availability and security.

3. Are the Oracle Fusion Applications available for purchase?

Yes, Oracle Fusion Apps are commercially available. Customers can purchase or upgrade these products, ensuring compliance with Oracle's authorization and certification standards for an optimal experience.

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4. What are the security features of Oracle Fusion Application?

Oracle Fusion Apps are equipped with robust security features including data security, privacy measures, role-based access control (RBAC), and function security, ensuring comprehensive protection of sensitive information.

5. What are the deployment options for Oracle Fusion?

Oracle Fusion Apps offer versatile deployment options, catering to diverse needs: on-premise, public cloud, private cloud, and hybrid cloud solutions.

6. Explain the general ledger in Oracle Fusion Financials.

The general ledger in Oracle Fusion Financials captures summary data, with detailed transactions recorded in sub-ledgers. It incorporates cross-validation rules and supports multiple ledger configurations, enabling dynamic account combination creation and effective financial consolidation.

7. What are the areas for which Oracle Fusion payables provide reports?

Oracle Fusion Financials offers an array of predefined reports for accounts payable, covering invoices, prepayments, payments, income tax, withholdings, and payables-ledger reconciliation, facilitating comprehensive financial tracking and analysis.

8. List the account receivable reports.

 In managing accounts receivable, Oracle Fusion Financials provides several predefined reports, including accounting, billing, reconciliation, bill presentment, receivables balances, and bills receivable reports.

9. What are the functionalities of Oracle Fusion Financial Reporting Center?

The Oracle Fusion Financial Reporting Center enables real-time financial reporting, with features like multidimensional analysis, various report formats, embedded charts, and a repository for organized data storage.

10. Does Fusion application have a Flex Field feature?

Yes, Oracle Fusion Applications include flex field capabilities such as key, descriptive, and extensible flex fields, enhancing application configurability.

11. What are the special features of the Oracle Fusion user interface?

The Oracle Fusion UI is characterized by role-based dashboards, personalized contact information, efficient search capabilities, tagging features, contextual references, and an integrated worklist.

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12. Explain the audit feature in Oracle Fusion.

The audit feature in Oracle Fusion Middleware provides accountability by tracking user actions and maintaining audit records in a centralized database, which can be used for detailed reporting.

13. What is the approval management?

Approval management in Oracle Fusion Application lets users define policies for workflow approvals, offering various options like user-defined, rules-based, or web services-based approvals.

14. What are the EBS replacement features in Oracle Fusion?

In Oracle Fusion, several EBS elements are replaced for enhanced functionality: Business Unit replaces Operating Unit, Access Control Governor supersedes OICM, Identity Manager takes over FND User, and Date Effectivity replaces Date Track.

15. List the major footprints in Fusion Financial Management.

Key components of Fusion Financial Management include accounts payable, receivable, general ledger, asset management, cash and expense management, and payments and collections.

16. What are the advantages of Psft Financial Users?

Psft Financial Users benefit from features like cash basis accounting, advanced collection, bill presentment architecture, and credit card processor integration.

17. What are the features of the mass allocation manager?

The mass allocation manager in Oracle Fusion offers features for defining allocation and formula rules, creating various allocation types, setting cascading rules, and real-time rule validation.

18. Explain about re-sequencing in Oracle Mediator.

Oracle Mediator's re-sequencer organizes out-of-sequence messages into a chronological order, ensuring orderly processing and delivery to target services.

19. What are the dynamic routing rules?

 Dynamic routing rules in Oracle Mediator allow for external, runtime modifications to routing logic, using Oracle Rules for adaptive service determination.

20. What is Echo in Oracle Mediator?

Echo in Oracle Mediator functions as a temporary target service, providing sample responses for testing purposes when the actual target service is unavailable.

21. Explain about Schematron Validation.

Schematron is utilized in Oracle Mediator for XML validation, employing rule elements within Schematron XML files to enforce specific validation criteria.

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22. What is the role of an Oracle Mediator?

Oracle Mediator serves as a data routing intermediary between service providers and external partners, managing business events and applying routing rules and transformations.

23. What are the key features of Oracle mediator?

Oracle Mediator boasts features like data validation, support for synchronous/asynchronous interactions, Java callouts, event handling, transformations, header-based routing, and error handling, among others.

24. List the ways to create a snapshot report.

Snapshot reports in Oracle Fusion Financials can be created by saving a report in Financial Reporting or scheduling a batch report output.

25. What are the benefits of reporting in Oracle Fusion Financials?

Reporting in Oracle Fusion Financials enhances decision-making with visual aids, increases productivity with customizable formats, and provides detailed account insights through drill-down capabilities.

26. How can we set up centralized payments?

Centralized payments in Oracle Fusion are set up via the Functional Setup Manager, involving business unit assignments, payment service provider relationships, and supplier site assignments.

27. What are the smart view components in Oracle Fusion Applications?

Smart View in Oracle Fusion includes two main components: the Smart View Panel for managing data and tasks, and the Smart View Ribbon, offering a menu of options and functionalities.

28. What is the use of a secondary ledger?

A secondary ledger in Oracle Fusion provides alternative accounting tracking, differing from the primary ledger in aspects like currency, accounting methods, and ledger options.

29. Explain the need for ledger mapping.

Ledger mapping in Oracle Fusion aligns primary and secondary ledger differences, essential for journals and transaction conversions between varied accounting formats.

30. What are the steps involved in scheduling a batch?

Scheduling a batch in Oracle Fusion Financials involves navigating to 'Batch Scheduler', creating a new batch, setting parameters, and choosing output options.

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Conclusion

The Oracle Fusion Financials offers all the core functionalities of a finance system including general ledger, payables, receivables, assets, cash management, assets, tax, and many more. Companies like Reliable Software Resources, Avis Budget Group Inc, Network Rail Limited, Diversant LLC, Etech Global Services LLC, etc., use Oracle Fusion Financials to accomplish their marketing and sales goals. It also has a market share of about 0.8%. So, the demand for this tool is high in the market.

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As a Senior Writer for HKR Trainings, Sai Manikanth has a great understanding of today’s data-driven environment, which includes key aspects such as Business Intelligence and data management. He manages the task of creating great content in the areas of Digital Marketing, Content Management, Project Management & Methodologies, Product Lifecycle Management Tools. Connect with him on LinkedIn and Twitter.

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