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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic
Details

Topic 1

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.

Topic 2

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 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

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 5

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.

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q29-Q34):

NEW QUESTION # 29
Your company has complex consolidation requirements with multiple General Ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your General Ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account What happens to segments in your source General Ledger, such as Program, that cannot be mapped to Hyperion Financial Management?

A. The unmapped segments default to future use segments in Hyperion Financial Management.
B. No data is transferred.
C. Errors occur for unmapped segments. You must map multiple segments from source General Ledgers to the target segment in Hyperion Financial Management.
D. Data is summarized across segments that are not mapped to Hyperion Financial Management.

Answer: D

Explanation:
When integrating with Oracle Hyperion Financial Management, you can use the following dimensions for consolidation: Entity, Scenario, Year, Period, Value, Account, Intercompany, Custom1 to Custom4, and View. You can map one to one, or concatenate segments from your source General Ledger to a single Hyperion Financial Management dimension. For example, you can map Company to Entity, Department to Department, and Account to Account. However, if you have segments in your source General Ledger that cannot be mapped to any Hyperion Financial Management dimension, such as Program, then the data is summarized across those segments. This means that the data is aggregated to the highest level of the unmapped segments, and the detail information is lost. For example, if you have Program as a segment in your source General Ledger, and you do not map it to any Hyperion Financial Managementdimension, then the data is summarized by Program, and you cannot see the data by individual Program values in Hyperion Financial Management. References:
* Example of Mapping Segments to Financial Management Dimensions
* Overview of the Chart of Accounts Mapping Page

NEW QUESTION # 30
What type ofusermust be defined before you can create anImplementation Project?

A. Implementation Users
B. All roles that will be used throughout the implementation
C. A full-time employee that has the FSM Superuser role assigned
D. None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.
E. None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.

Answer: D

NEW QUESTION # 31
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

A. when the journal is not balanced by the primary balancing segment value (BSV)
B. when there is a many-to-many journal and you want to use a clearing company
C. when the journal is balanced by the primary BSV but not by second or third BSV
D. when the journal is balanced by second balancing segment value

Answer: C

Explanation:
Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as thisindicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing.
Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger
2022 Implementation Professional Objectives - Configure and Process Intercompany 12

NEW QUESTION # 32
Your userforgot the password. How do you resolve this?

A. Use the Manage Users page to update the user's information and change the password.
B. Use Access Policy Manager (APM) to reset the user's password.
C. Use Oracle Identity Management (OIM) to reset the user's password.
D. Create a new user ID and password for the user.
E. Log in to the user's machine as an Administrator and change the password from the login password.

Answer: C

NEW QUESTION # 33
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. Natural Account
B. Cost center
C. Secondary Balancing
D. Primary Balancing
E. Intercompany Segment

Answer: A,B,D

Explanation:
The three labels that are required when designing the chart of account structure for this project are Primary Balancing, Cost center, and Natural Account. A chart of account structure is composed of segments that represent different dimensions of accounting information, such as company, department, account, or project.
Each segment has a label that indicates its function or purpose within the chart of accounts. The Primary Balancing label is required for the segment that identifies the legal entity or business unit for which financial statements are prepared and balanced. The Cost center label is required for the segment that identifies the organizational unit or function that incurs expenses or generates revenues. The Natural Account label is required for the segment that identifies the nature of an account, such as asset, liability, revenue, or expense.
The Intercompany Segment label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies intercompany transactions between different legal entities or business units within the same enterprise. The Secondary Balancing label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies an additional balancing dimension other than the primary balancing segment, such as fund or region. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12

NEW QUESTION # 34
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