Oracle released beta versions of two new Fusion Financial Cloud Service Exams on October 17th, 2016 in response to the latest update of Fusion Financial Cloud Software Version R10. These exams are Payables 2016 implementation Essentials 1Z1-334 & Receivables 2016 implementation Essentials 1Z1-335. Both exams are required for certifications in the following areas: Oracle Fusion Financials Cloud Service – Payables 2016 Certified Installation Specialist and Oracle Fusion Financials Cloud Service – Receivables 2016 Licensed Implementation Specialist.
Fusion Financial Cloud certification includes one additional exam, General Ledger 2016 Implementation Fundamentals 1Z1-333. We discussed this earlier in October.
These certifications will make you an Oracle certified specialist with proven skills in implementing, selling and maintaining Oracle Fusion Financials Cloud Service Solutions. This credential is recognized and accepted by Oracle Partner Network. You will be in the top position on the market after passing the test.
The 1Z1-334 exam and the 1Z1-335 exam will be available in beta version until January 9th. After that, you will be able take the production versions. Each exam costs 43 euros and is administered at Pearson VUE centres all over the world. Register for the exams and find testing locations via their official website.
The exams last 2.5-3 hours and contain 150-225 multiple-choice question. Certifications are given in English. The official website states that the test passing score is TBD. The results should be received within 11 weeks of the end of the Beta period.
Oracle has not yet announced which courses from Oracle Academy will be linked to 1Z1-334 or 1Z1-335 exams. However, you can find recommended training for the 1Z1-333 exam on the official page. It is important to note that training materials won’t cover all exam topics and prior work experience is necessary in order to pass the test.
Let’s take a closer look at the composition of the tests.
Oracle Fusion Financials Cloud Service: Payables 2016 Implementation Essentials 1Z1-334
The credential test covers 6 main topics: General Setup, Invoicing, Payments and Fusion Expenses. Reporting and Other Fusion Payable Topics are also included.
General Setup: Knowledge of configuration packages, ability create implementation projects, skills in data validation and reporting, and ability to set users up and role assignments.
Invoicing: Knowledge of standard invoices and integrated imaging solutions, creating invoices with spread sheets, knowledge about iSupplier invoicing, how to approve invoices, and how to manage suppliers’ information.
Payments: Learn how to create single payments, execute payment process requests, cancel payments, bank reconciliations, customize payments’ formats, and set up fusion payments to remunerations.
Fusion expenses: Entry and approval of expense reports; processing of expense reimbursements; managing corporate cards; audit of expense reports; setting up fusion expense.
Reporting: Knowledge of Oracle transactional business Intelligence and reporting tools, ability to use the business intelligence publisher, understanding of how to use payables in reconciliation reporting, and skills in processing intercompany reconciliations.
Other Fusion Payables Topics include invoice and payment dashboards. Income tax and tax calculations. Creation of accounting entries. Closing process. Configuration of fusion payable units and business units.
Oracle Fusion Financials Cloud Service Receivables 2016 Implementation Essentials 1Z1-335
This test consists of 8 main parts: Reporting, Overview, Receivables, Billing and Revenue Management Overview, Collections, Receipt management and Other Accounts Receivable topics.
General Setup: Knowled