1.    First define value set for item flexfield segments.
Go to inventory responsibility and navigate to value set.
Setup -> Flexfield->Validation->Sets
2.       Define Value Set for Item Section.
Choices: List Type, Enter format validation of your own choice, validation type.

3.       Define Value Set for Sub Section.
Sub Section Value Set is dependent on item section.
To configure select dependent validation type and click on Edit Information.
4.       Define Value Set For Serial No.
Serial No is also dependent on item section.
5.       Now value set for Condition Code and future segment.
Ok we are done with first part of creating value set. Now for second step .

6.       Navigate to Key Flexfield Segments Definition Form.
         Setup -> Flexfield->Key->Segments
7.       Now search with flexfield title “System Items”.
8.       Click on Segments and navigate to  Segment Summary Window.
Now enter your desired item segments name and their corresponding value sets.
Column indicates the database fields that will hold entered value for specific segment.
9.       After entering segments summary navigate back to KFF segments window. Save form and check freeze flex field definition option.
10.       Now compile your KFF.
      It is configured now.
Some of the new terminologies used in Oracle Applications Release 12 are:

11i Vs. 12

Sets of Books = Ledgers
Global Accounting Engine = Subledger Accounting
AX Posting Sets of Books = Secondary Ledgers
Global Intercompany System = Advanced Global Intercompany System
GL Intercompany Accounts = Intracompany Balancing
Translated Currency = Balance level RCs
Multiple Reporting Currencies = Reporting Currencies
MRC Primary Set of Books = Primary Ledger
MRC Reporting Set of Books = Reporting Currency
Thin MRC Reporting Book = Journal level RC
Full MRC Reporting Book = Subledger level RC
Translated Balance = Balance Level RC

Hope it will be helpful. ………..

Oracle Reports: Fixed format reports delivered with the 11i release were built on this tool. This is the most used tool for reporting on Oracle Applications. Most of reports customizations are built with this tool. Once customized the output of the report can be in Excel (Not group By Report), word, Acrobat documents or text format.

Oracle Discoverer: is an intuitive tool for creating reports and performing on-line analysis. Discoverer uses the EUL (End User Layer), a meta data definition, which hides the complexity of the database from the end user and provides easy to use wizards for creating reports to suit individual needs. The flexibility of this tool allows the user to create cross tab reports that perform like pivot tables in Excel.

Oracle XML Publisher: is a new Oracle tool for reporting. It enables users to utilize a familiar desktop tool, like MS Word or MS Excel, to create and maintain their own report. At runtime, XML Publisher merges the custom templates with the concurrent request extracts data to generate output in RTF, PDF, HTML and EXCEL.

RXi Report: (Variable reports) – variable format reports delivered with the E-Business 11i. With this tool a user has the ability to print the same report with multiple layouts. The user can also choose which columns he requires on a particular report. This tool is most used on Oracle Financials Applications.

FSG Reports (Financial Statement Generator): is a powerful report building tool for Oracle General Ledger. Some of benefits of using this tool are that a user can generate financial reports, and schedule reports to run automatically. The only drawback of this tool is that it is only available for the general ledger responsibility and can be used to see only financial account balances.

Business Intelligence System (BI):
is a set of tools to provide high level information for the managers (decision makers) to run their business such as the profitability of a particular business unit. The information this tool provides helps managers to take the right decision with the daily data that is uploaded on their systems

Bind references are used to replace a single value in SQL or PL/SQL. Specifically, bind references may be used to replace expressions in SELECT, WHERE, GROUP BY, ORDER BY, HAVING,CONNECT BY, and START WITH clauses of queries. Binds may not be referenced in the FROM clause.
An example is:
SELECT Col1,Col2
FROM XX_table
WHERE Col1 = :P_col1

Lexical references are placeholders for text that you embed in a SELECT statement. You can use lexical references to replace the clauses appearing after SELECT, FROM, WHERE, GROUP BY , ORDER BY , HAVING, CONNECT BY, and START WITH. You cannot make lexical references in PL/SQL. Before you reference a lexical parameter in a query you must have predefined the parameter and given it an initial value.
An example is:
SELECT Col1,Col2
FROM &ATABLE

If your program is taking time to complete, then the best way to know what is causing the problem is by creating a trace file.

Navigation:
System Administrator(R) –> Concurrent –> Program –> Define

Query for the concurrent program and check enable trace button.

Now when the concurrent program is executed the trace file is created in the udump directory. The path of udump directory can be found by executing following query.
select * from v$parameter
where name like ‘%user_dump_dest%’


The trace file can be converted to a readable format by running a tkprof command over the trace file.
Syntax:

tkprof [trace_file_name] [new_file_name]

Understanding TKPROF
The TKPROF program can be used to format the contents of the trace file and convert it into a readable output file.
TKPROF can also be used to generate Explain Plan for the queries.
I will create a seperate post to discuss various options available with TKPROF.