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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

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

                                  You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities. What type of report will provide this type of information?

                                  • A. Journal Reports
                                  • B. Account Analysis Report
                                  • C. Aging Reports
                                  • D. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel invoice. What happened to funds available when you cancel and invoice that requires budgetary control?

                                  • A. The Budget and funds available will increase by USD 100.
                                  • B. The Budget will increase by USD 100 ad the funds available will decrease by USD 100
                                  • C. funds Available will change when the invoice is approved
                                  • D. The funds reserved for the purchase order is reinstated while the invoice expenditure is reversed by USD 100
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  The general accountant Is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
                                  The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the list of account for the accountant to select in the Suspense Account.
                                  What Is the reason for this?

                                  • A. A cross validation rule is in place to prevent the resulting combination from being created.
                                  • B. There Is a primary balancing segment attached to the legal entity of the primary ledger.
                                  • C. The general accountant does not have the Financials Application administrator role assigned therefore, has view-only privileges on this page. -
                                  • D. The general accountant has a segment value security rule assigned which restricts access to the cost center.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?

                                  • A. Supervisory level approval
                                  • B. Dynamic Approval Groups
                                  • C. Management Chain approval
                                  • D. Cost center based approval
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority. What should be implemented for this type of security?

                                  • A. Segment Value Security
                                  • B. Role-Based Access
                                  • C. Data Access Sets
                                  • D. Cross-Validation Rules
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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