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

1Z1-516

Exam Code: 1Z1-516

Exam Name: Oracle EBS R12.1 General Ledger Essentials

Updated: Jun 11, 2026

Q & A: 180 Questions and Answers

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About Oracle 1Z1-516 Exam

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

The following will be discussed here:

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

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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Certification Path

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 Accounting Setup Manager

The following will be discussed here:

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

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

The following will be discussed here:

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

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