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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.

Topic 2

Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.

Topic 3

Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.

Topic 4

Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization's financial operations.

Topic 5

Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q20-Q25):

NEW QUESTION # 20
InFinancial Cloud, which three reporting tools can be used to accessGeneral Ledger balances?

A. Oracle Enterprise Repository
B. Financial Reporting Studio
C. Application Composer
D. Oracle Transactions Business Intelligence
E. Smart View

Answer: B,D,E

NEW QUESTION # 21
Which two statements are true regarding the Translation process? (Choose two.)

A. The Translation process should be run before posting Period Close adjustment entries.
B. The Translation process can only be used to translate balance sheet accounts.
C. Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.
D. The Translation process can only be used for translating the balances of Secondary ledgers.
E. If necessary, before submitting the Translation process, the Revaluation process should be completed.

Answer: C,E

Explanation:
According to Oracle documentation1, the following statements are true regarding the Translation process:
Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account, and if necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process enables you to translate balances from one currency to another for reporting purposes.
The Translation process calculates any difference between the translated balance and the entered balance and posts it to the Cumulative Translation Adjustment account. The Revaluation process enables you to adjust balances denominated in foreign currencies to reflect current exchange rates. The Revaluation process should be completed before the Translation process to ensure that the balances are accurate. Therefore, options A and B are correct. Option C is incorrect because the Translation process should be run after posting Period Close adjustment entries. Option D is incorrect because the Translation process can be used for translating the balances of primary ledgers, secondary ledgers, and reporting currencies. Option E is incorrect because the Translation process can be used to translate both balance sheet accounts and income statement accounts.

NEW QUESTION # 22
Your company hascomplex consolidation requirementswithmultiple general ledger instances. You are usingOracle Hyperion Financial Managementto consolidate the disparateGeneral Ledgers.
You can typically map segments between yourgeneral ledger segmentto aHyperion Financial Management segment, such as:
* Company to Entity
* Department to Department
* Account to Account
What happens to segments in yoursource general ledger, such asProgram, thatcannot be mappedto Hyperion Financial Management?

A. Data is summarized across segments that are not mapped to Hyperion Financial Management.
B. The data is not transferred.
C. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management.
D. The unmapped segments default tofuture use segmentsin Hyperion Financial Management.

Answer: A

NEW QUESTION # 23
When working with Essbase, versions of the tree hierarchy as defined in the Fusion are not available in the Essbase balances cube. What should you do to correct this situation?

A. Make sure the tree version was published successfully.
B. Redeploy the chart of accounts.
C. Make sure to flatten the rows of the tree version.
D. Make sure the tree is active.

Answer: A

NEW QUESTION # 24
Which two statements areTRUEregarding theBalances CubesinGeneral Ledger?

A. They are updated automatically when the Translation process is run.
B. They are updated automatically when the Revaluation process is run.
C. New dimensions can be added to a General Ledger Balances Cube.
D. A new Balances Cube is created for a unique combination of Ledger and Currency.
E. They are updated automatically when the General Ledger period is opened.

Answer: A,E

NEW QUESTION # 25
......

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