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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Period Close Process- Financial reporting
  • 1. Trial balance and reports
    - Close activities
    • 1. Reconciliations
      • 2. Adjustments and accruals
        Enterprise Structures and Setup- Ledger configuration
        • 1. Primary ledger setup
          • 2. Secondary ledgers
            - Chart of Accounts
            • 1. Value sets and segments
              • 2. COA structure design
                Journal Processing- Journal imports
                • 1. Spreadsheet uploads
                  • 2. File-based data import (FBDI)
                    - Manual journals
                    • 1. Recurring journals
                      • 2. Journal creation and approval
                        Subledger Accounting- Event processing
                        • 1. Accounting events
                          - Accounting rules
                          • 1. Journal line rules
                            • 2. Account derivation rules
                              Security and Configuration- Roles and access
                              • 1. Security setup
                                - Implementation setup tasks
                                • 1. Setup Financials Cloud

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

                                  Question #1

                                  You entered users who are both employees and contingent workers. You want an automated way to assign, reassign, and remove roles from users. What feature do you use?

                                  • A. ROLE MAPPINGS
                                  • B. ACCESS POLICY MANAGER'S ROLE GENERATION
                                  • C. ORACLE IDENTITY MANAGER ROLES ASSIGNMENT
                                  • D. YOU CANNOT REASSIGN CONTINGENT WORKERS
                                  • E. DATA ROLES
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Question #2

                                  What is most efficient way to add a new year to the accounting calendar?

                                  • A. The Application automatically populates the year when you open the first period of a new fiscal year.
                                  • B. Import the periods from a spreadsheet
                                  • C. Add the periods manually
                                  • D. Use the Add Year button
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  Question #3

                                  In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)

                                  • A. Financial Reporting Studio
                                  • B. Oracle Transactions Business Intelligence
                                  • C. Smart View
                                  • D. Application Composer
                                  • E. Oracle Enterprise Repository
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,B,C  🗳️

                                  Question #4

                                  you need to define a chart of accounts includes a intercompany segment. Your customer plans to use segment value security rules for the company segment. What is Oracle's recommended method to define this chart of accounts?

                                  • A. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
                                  • B. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
                                  • C. Define the company segment only and qualify it as both primary balancing segment and intercompany segment.
                                  • D. Define Two Different Chart of Accounts
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Question #5

                                  Your customer has enabled budgetary control for purchase orders. They have a purchase order for
                                  $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing. What happens to the remaining $400 USD?

                                  • A. $400 USD will be added back to available funds
                                  • B. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of$400 USD
                                  • C. $400 USD will be expired and not available for use
                                  • D. Invoice type will have less funds available by $400 USD
                                  • E. Only obligation type will have $400 USD funds available
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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