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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.

Topic 2

Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.

Topic 3

Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization's financial operations.

Topic 4

Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.

Topic 5

Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q65-Q70):

NEW QUESTION # 65
You are required to changetoday's daily ratesfor convertingGBP to USD. What are three ways in which you can update existing daily rates?

A. Import daily rates through the Daily Rates open interface table.
B. Use the spreadsheet loader from the Currency Rates Manager.
C. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area.
D. Edit existing transactions and update the rates manually.
E. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager.

Answer: A,B,C

NEW QUESTION # 66
You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation.
Where do you reference the statistical balance within the allocation component?

A. Allocation Range
B. Source
C. Basis
D. Offset
E. Target

Answer: B

Explanation:
The source is where you specify the amount to be allocated. You can use various sources, such as account balances, fixed amounts, or statistical balances. In this case, you want to use the statistical balance of the floor area as the source of the allocation. The basis is where you specify the driver or factor that determines how the source amount is distributed among the targets. The target is where you specify the destination accounts that receive the allocated amount. The offset is where you specify the account that records the opposite side of the allocation entry. The allocation range is where you specify the scope of the allocation, such as the ledger, balancing segment, or legal entity. References:
* Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 3:
Allocations and Periodic Entries, Allocation Components
* Oracle Financials Cloud Using General Ledger, Chapter 3: Allocations and Periodic Entries, Overview

NEW QUESTION # 67
You are creating values for thechart of account value setthat you are planning to use for theaccount segment within yourChart of Accounts. You are not able to assign anAccount Type.
What is the reason for this?

A. The Account Type qualifier has not been enabled when defining the value set.
B. You are creating values before assigning the value set to the structure.
C. You have not set the Allow Posting attribute for the value set.
D. You have not set the Allow Budgeting attribute for the value set.

Answer: A

NEW QUESTION # 68
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. You have an unrealized exchange loss recorded.
B. The original journal entry in Euros is updated.
C. You have an unrealized exchange gain recorded.
D. There is no unrealized exchange gain or loss calculated.
E. The original journal entry in Euros remains the same.

Answer: A,E

Explanation:
The revaluation process is used to adjust account balances denominated in a foreign currency. Revaluation adjustments represent the difference in account balances due to changes in conversion rates between the date of the original journal and the revaluation date. These adjustments are posted through journal entries to the underlying account with the offset posted to an unrealized gain or loss account. The two statements that are true about the resulting revaluation run are:
* You have an unrealized exchange loss recorded: Since the ledger currency (USD) has depreciated against the foreign currency (Euro) from the date of the original journal to the revaluation date, the account balance in USD has increased. This means that you have a loss on the

NEW QUESTION # 69
You have enabled budgetary control and have a control budget set toAdvisorycontrol level. For September
2016, your budget for a given account combination is$5,000 USD.
In the same month, there is anapproved requisitionfor that account of$900and anapproved purchase order for that account of$2,500 USD. There is also aGeneral Ledger adjustment journal entryfor that account of
$1,600 USD. Anapproved purchase order line of $400 USDis thencanceled.
Aninvoice is matchedto the purchase order for$2,100 USD.
Which two statements are true? (Choose two.)

A. Funds reservation only happens for non-matched invoices, so the system will not reserve funds.
B. Purchase order encumbrance will be released for $2,100 USD.
C. The system always consumes the budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation.
D. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016.

Answer: B,D

NEW QUESTION # 70
......

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Pete Lee Pete Lee

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