Oracle 1z0-1054-23 Q&A - in .pdf

  • Exam Code: 1z0-1054-23
  • Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
  • Q & A: 52 Questions and Answers
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  • Exam Code: 1z0-1054-23
  • Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionObjectives
Topic 1: Reporting and Analysis- Financial Reporting
  • 1. Smart View reporting
    • 2. Financial statements generation
      Topic 2: General Ledger Setup- Accounting Configuration
      • 1. Accounting calendars and periods
        • 2. Ledger options configuration
          - Enterprise Structure Configuration
          • 1. Chart of Accounts structure design
            • 2. Legal entities and ledgers setup
              Topic 3: Period Close Process- Close Activities
              • 1. Reconciliation and adjustments
                • 2. Close monitoring and reporting
                  Topic 4: Subledger Accounting- Subledger to GL Integration
                  • 1. Transfer to General Ledger
                    - Accounting Rules
                    • 1. Journal line rules and account derivation
                      Topic 5: Journal Processing- Journal Creation and Posting
                      • 1. Manual and recurring journals
                        • 2. Journal approval workflow
                          - Journal Import and Integration
                          • 1. Spreadsheet upload and external sources

                            Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

                            Question #1

                            You are planning to create an Income Statement using Smart View.
                            Which Smart View tool should you use for this?

                            • A. Smart Slices
                            • B. Ad Hoc Analysis
                            • C. Smart Queries
                            • D. Query Designer
                            Answer: B

                            Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

                            Question #2

                            Your customer uses Financials Cloud, Projects, Inventory, and SCM.
                            Which two statements are true regarding intercompany accounting for these products? (Choose two.)

                            • A. Each product has its own Intercompany Accounting feature that needs to be configured separately.
                            • B. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
                            • C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
                            • D. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
                            Answer: A,C

                            Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

                            Question #3

                            There is a business requirement for a subsidiary company to report to the parent company on a monthly basis.
                            Given that:
                            The subsidiary is in another country from the parent.
                            There is no requirement to have daily balances.
                            The objective is to minimize the data stored in the reporting currency.
                            Which data conversion level should you recommend?

                            • A. Adjustment only level
                            • B. Journal Level
                            • C. Spreadsheet level
                            • D. Balances Level
                            • E. Subledger level
                            Answer: D

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                            Question #4

                            A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
                            Which two ledger types should be configured to fulfill this reporting requirement?

                            • A. Reporting currency with the local accounting convention
                            • B. Secondary ledger with the IFRS accounting convention
                            • C. Primary ledger with the IFRS accounting convention
                            • D. Primary ledger with the local accounting convention
                            • E. Reporting currency with the IFRS accounting convention
                            Answer: B,D

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                            Question #5

                            You notice that a lot of erroneous address data is being saved. How do you ensure that only valid addresses are entered in the system?

                            • A. Define the Geography Validation for Country option to Error.
                            • B. Redefine the geography hierarchy.
                            • C. Define the Geography Validation for Country option to No Validation.
                            • D. Redefine the location structure.
                            Answer: A

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