Oracle 1Z0-1054-21 Valid Dumps - Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Configuring Ledgers- Manage Ledger Sets
- Define Ledger Options
- Configure Secondary Ledgers
- Configure Reporting Currencies
Topic 2: Journal Processing- Recurring Journals
- Allocation Rules
- Create and Manage Journals
- Journal Import and Posting
- Configure Journal Approval
Topic 3: Financial Reporting- Financial Reporting Studio
- Smart View Reporting
- Financial Statement Generation
- Account Groups and Reports
Topic 4: Intercompany Processing- Configure Intercompany Balancing Rules
- Intercompany Reconciliation
- Process Intercompany Transactions
Topic 5: Period Close- Manage Accounting Periods
- Close Monitoring and Reporting
- Perform Period Close Activities
Topic 6: Budgetary Control and Encumbrance Accounting- Funds Check Processing
- Control Budgets
- Configure Budgetary Control
- Encumbrance Accounting
Topic 7: Configuring Enterprise and Financial Reporting Structures- Manage Chart of Accounts
- Manage Legal Authorities and Legal Entities
- Manage Geographies
- Manage Ledgers
- Manage Legal Jurisdictions
- Manage Accounting Calendars
- Manage Account Hierarchies

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

Question 1

Your ledger currency is USD. At month end you have a balance on the Accounts Payable Line of 100,000 Euros which is equivalent to USD 136,550 The month end exchange rate Is 1 Euro = 1.3755 USD What two statements are true for the resulting revaluation run?

A. The original Journal entry in Euros remains the same.
B. There is no unrealized exchange gain or loss calculated
C. The original journal entry in Euros is Updated,
D. You have an unrealized exchange gain recorded.
E. You have an unrealized exchange loss recorded.


Question 2

Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

A. chart of accounts master data maintenance
B. chart of accounts hierarchy maintenance
C. integration with transactions from external feeder systems
D. cross-validation rules
E. data access and security


Question 3

The Delete Translated Balances Process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration. Once the deletion process completes, what additional process must you run?

A. Submit the updated General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations
B. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations
C. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations
D. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations


Question 4

In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification. Which two Business Intelligence catalog objects should you copy (or customize) and edit?

A. The layout Template
B. The Style Template
C. The Data Source
D. Output type
E. The Data Model


Question 5

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?

A. Use Oracle Hyperion Financial Management for this type of complex consolidation
B. Use General Ledger's Financial Reporting functionality to produce reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
C. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
D. Define multiple ledgers for consolidation and report on ledger set


Solutions:

Question 1
Answer: A,E
Question 2
Answer: A,B
Question 3
Answer: C
Question 4
Answer: B,E
Question 5
Answer: B

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