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Oracle 1z0-1054-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Period Close and Financial Reporting | - Close and Reporting Activities
|
| Topic 2: Security and Data Access | - Access Management
|
| Topic 3: Enterprise Structure and General Ledger Setup | - Enterprise Configuration
|
| Topic 4: Budgeting and Allocations | - Financial Planning
|
| Topic 5: Intercompany Accounting | - Intercompany Processing
|
| Topic 6: Journal Processing | - Journal Management
|
| Topic 7: Ledger Configuration | - Ledger Management
|
Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
1. Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.
Note:
. Prefix your alias name with 07, where 07 is your exam ID.
. There is no Product or Intercompany impact.
2. 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) Primary ledger with the IFRS accounting convention
B) Reporting currency with the IFRS accounting convention
C) Reporting currency with the local accounting convention
D) Primary ledger with the local accounting convention
E) Secondary ledger with the IFRS accounting convention
3. Your ledger currency is USD. At month end, you have a balance on the Accounts Payable Liability Account of
100,000 Euros, which is equivalent to 136,550 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true about the resulting revaluation run?
A) The original journal entry in Euros remains the same.
B) The original journal entry in Euros is updated.
C) You have an unrealized exchange loss recorded.
D) You have an unrealized exchange gain recorded.
E) There is no unrealized exchange gain or loss calculated.
4. You can run predefined reports to reconcile subledger application balances to General Ledger balances. Which attribute must you set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation report or Receivables to General Ledger Reconciliation report?'
A) Third Party Control Account
B) Reconcile
C) Financial Category
D) Start Date
E) End Date
5. The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India).
Which three labels are required when designing the chart of account structure for this project? (Choose three.)
A) Primary Balancing
B) Natural Account
C) Cost center
D) Intercompany Segment
E) Secondary Balancing
Solutions:
| Question # 1 Answer: Only visible for members | Question # 2 Answer: D,E | Question # 3 Answer: A,C | Question # 4 Answer: C | Question # 5 Answer: A,B,C |
