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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Enterprise Structures and Setup- Ledger configuration
  • 1. Secondary ledgers
    • 2. Primary ledger setup
      - Chart of Accounts
      • 1. Value sets and segments
        • 2. COA structure design
          Topic 2: Security and Configuration- Roles and access
          • 1. Security setup
            - Implementation setup tasks
            • 1. Setup Financials Cloud
              Topic 3: Journal Processing- Manual journals
              • 1. Journal creation and approval
                • 2. Recurring journals
                  - Journal imports
                  • 1. Spreadsheet uploads
                    • 2. File-based data import (FBDI)
                      Topic 4: Period Close Process- Close activities
                      • 1. Adjustments and accruals
                        • 2. Reconciliations
                          - Financial reporting
                          • 1. Trial balance and reports
                            Topic 5: Subledger Accounting- Accounting rules
                            • 1. Journal line rules
                              • 2. Account derivation rules
                                - Event processing
                                • 1. Accounting events

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

                                  1. our Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three)

                                  A) Sunburst Report
                                  B) Account Inspector
                                  C) Account Monitor
                                  D) OTBI
                                  E) Smart View


                                  2. Your company has two legal entities in the US (Balancing Segment Value (BSV 101 and 102) one legal entity in France (BSV 401) and one legal entity in the UK (BSV 402) Both US legal entities share the same ledger, whereas the UK and France have their own ledgers Assuming intercompany transactions are not being entered, what is the minimal action you can take to still configure the ledger correctly?

                                  A) You should assign the balancing segment value to the ledger in the US and assign the balancing segment value to identify each legal entity in the UK and France Ledgers
                                  B) You should assign a balancing segment value to identify each legal entity in each ledger
                                  C) You should assign a balancing segment value to identify each legal entity in the US and assign balancing segment value to the ledger in the UK and France
                                  D) You should assign a balancing segment value to identify each legal entity in the US ledger


                                  3. Which tool can you use to create a Financial Income Statement?.

                                  A) Account Inspector
                                  B) Rapid Implementation Enterprise Structures setup
                                  C) One View Reporting
                                  D) PS/nVision


                                  4. 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) Accounting Date
                                  B) Chart of Accounts
                                  C) Journal Line Rules
                                  D) Supporting References
                                  E) Account Rules


                                  5. Alter submitting the journal for approval, you realize that the department value in the journal incorrect.
                                  How do you correct the value?

                                  A) Update the journal through workflow
                                  B) Reverse the journaland create a new one
                                  C) Click the Withdraw Approval button in the Edit Journals page and edit the journal
                                  D) Delete the journal and create a new journal


                                  Solutions:

                                  Question # 1
                                  Answer: B,C,E
                                  Question # 2
                                  Answer: A,C
                                  Question # 3
                                  Answer: C
                                  Question # 4
                                  Answer: C,D,E
                                  Question # 5
                                  Answer: C

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