What is Oracle Financials?
Oracle Financials are part of Oracle Applications, Oracle Applications are software product owned by Oracle Corporation (USA based Company), Oracle Applications provides ERP Solutions for Companies, By using Oracle Financials companies can manage their Financial Transactions very effectively and more controlled manner with great security, reporting is very easy in Oracle Financials or any other applications which are part of ERP.
It's purely functional course it means no coding/programming, who learn and work on Oracle Financials they will be called as "Oracle Financials Functional Consultant.
Oracle Financials also called as:
Oracle R12 Financials
Oracle R12 Finance
Oracle EBS Financials
Oracle EBS Finance
Oracle EBS R12 Financials
Oracle EBS R12 Finance
Oracle Apps Financials
Oracle Financials Applications:
Oracle Financials Solution is classified into different applications/modules to support different department activities which handles financial management.
Major Applications in Oracle Financials:
1.Oracle Accounts Payables (AP)
2.Oracle Accounts Receivables (AR)
3.Oracle Cash Management (CM)
4.Oracle Fixed Assets (FA)
5.Oracle General Ledger (GL)
6.Oracle E-Business Tax (EBT)
AP: Accounts Payables Application can be used by Payables Department to maintain Supplier Information and to Process Supplier Invoices & Payments
AR: Accounts Receivables Application can be used by Receivables Department to Maintain Customer Information and to Process Customer Invoices & Receipts
CM: Using Cash Management Application we can maintain Bank Accounts Information and we can perform Bank Statement Reconciliations
FA: With Fixed Assets Application we can manage Fixed Assets Information and we can perform depreciation calculations, Asset retirements etc.
EBT: To calculate country specific taxes
If you are planning to learn Oracle Financials to get job you should learn basics from below listed applications also to cover P2P (Procure to Pay) and O2C (Order to Cash) Cycles:
Oracle Order Management
Oracle System Administrator
If you are strong in Oracle Financials along with Basic P2P and O2C Cycles, getting job will become very easy and after getting job you can survive without any challenges.
What should we learn from Oracle Financials:
1. We have to understand features (concepts) available from each application
2. We have to Setup each application to use those features
3. We have to understand feature specific transaction process
4. We have to understand Accounting, Reporting, Interfaces, Tables etc.
What should we do after getting a job on Oracle Financials:
1. In case of Implementation Project we have to take business requirement from client and we have to prepare the business solution, setting up applications, helping client to use those applications.
2. In case of Support Project we have to support client on application usage if they face any issues
Who can do Oracle Financials Course?
Who completed bachelor degree they can go with Oracle Financials Training, If you have accounting background that would be added advantage, we can find many guys who are learning and working on Oracle Financials who's background is completely technical, Primarily Product knowledge is very important to work on Oracle Financials as Oracle Financials Functional Consultant
How to Prepare this course?
If you are planning to do Oracle Financials Course you should have enough time in your hand, whatever you learn from Oracle Financials you should be good at each concept theoretically, You should practice system multiple times, you should be able to present any concept theoretically and system process with great confidence, If possible start giving presentations to someone on whatever you learn as part of Oracle Financials, that will build your confidence and it make you ready for interviews.
Note: Start your preparation while you do the course, don't plan your preparation after completing the course.
Since Oracle Financials is ERP Product you can find plenty of opportunities across the globe, if you are interested you will get many travel opportunities to work in different countries, we no need to worry about opportunities when we choose Oracle Financials as career option.
All the Best, Happy Learning
Oracle R12 Financials Training Videos