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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Security and Configuration | - Implementation setup tasks
|
| Topic 2: Subledger Accounting | - Accounting rules
|
| Topic 3: Period Close Process | - Financial reporting
|
| Topic 4: Enterprise Structures and Setup | - Chart of Accounts
|
| Topic 5: Journal Processing | - Journal imports
|
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requireme
- A. Create a summary budget annually with advisory control and control budget monthly with absolute control.
- B. Create two detail control budgets: annually with absolute control and monthly with advisory or trackcontrol.
- C. Create an annual budget with absolute control and so encumbrance accounting will work.
- D. Create a Summary budget annually with absolute* control and monthly control budget with advisory or track control.
- E. Create two detail control budgets: annually with advisory/track control and monthly with absolute control.
Correct Answer: C 🗳️
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets. What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Journal Line Rules
- B. Account Rules
- C. Chart of Accounts
- D. Supporting References
- E. Accounting Date
Correct Answer: A,B,D 🗳️
When creating financial Reports which two tools use data from the General Ledger Balances Cube?
- A. Smart view
- B. Financial Reporting Center
- C. Oracle Financial Statement Generator
- D. Financial Reporting Studio
Correct Answer: A,D 🗳️
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You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment. What does Oracle's recommended method to define this chart or accounts?
- A. Define two different charts of accounts.
- B. Define the company segment only and qualify it as both the primary balancing segment andintercompany segment.
- C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
- D. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
Correct Answer: D 🗳️
Your customer wants to use a clearing company to automatically balance intercompany entries. Which three statements are true regarding the use of a clearing company value? (Choose three.)
- A. You must map legal entities to balancing segment values in order to use a clearing company
- B. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
- C. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
- D. Clearing companies are not supported
- E. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
Correct Answer: B,C,E 🗳️
