Oracle Fusion Financials is a suite of cloud-based financial applications that provides comprehensive financial management, including General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, and Cash Management. It offers real-time analytics, role-based dashboards, and seamless integration with other Oracle Cloud modules.

 The key modules include:

- General Ledger (GL)

- Accounts Payable (AP)

- Accounts Receivable (AR)

- Fixed Assets (FA)

- Cash Management (CM)

- Expense Management

- Tax

- Budgetary Control

Answer: The Chart of Accounts in Oracle Fusion Financials is built using segments such as Company, Department, Account, Product, and more. Each segment represents a dimension of financial reporting, and the structure allows flexibility through the use of value sets and trees.

Business Units are used to manage and process financial transactions such as payables, receivables, and procurement. They help define operational control and reporting within an organization, and are key to configuring financial flows and security.

A ledger in Oracle Fusion consists of:

Chart of Accounts

Accounting Calendar

Currency

Accounting Method These elements define how financial data is recorded and reported across the organization.

Primary Ledger is the main ledger used for legal and corporate reporting.

Secondary Ledger is used for parallel accounting, such as local statutory reporting or management reporting, and may use different accounting methods or currencies.

 Subledger Accounting in Oracle Fusion is a rules-based engine that creates accounting entries for subledger transactions. It ensures consistency in financial data by generating detailed and summarized journal entries, which are posted to the general ledger.

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