Exam Code: 1Z0-1054-21
Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Configuring Enterprise and Financial Reporting Structures- Manage Legal Jurisdictions
- Manage Legal Authorities and Legal Entities
- Manage Accounting Calendars
- Manage Ledgers
- Manage Geographies
- Manage Account Hierarchies
- Manage Chart of Accounts
Topic 2: Intercompany Processing- Configure Intercompany Balancing Rules
- Intercompany Reconciliation
- Process Intercompany Transactions
Topic 3: Configuring Ledgers- Manage Ledger Sets
- Configure Secondary Ledgers
- Configure Reporting Currencies
- Define Ledger Options
Topic 4: Budgetary Control and Encumbrance Accounting- Encumbrance Accounting
- Control Budgets
- Configure Budgetary Control
- Funds Check Processing
Topic 5: Period Close- Close Monitoring and Reporting
- Manage Accounting Periods
- Perform Period Close Activities
Topic 6: Financial Reporting- Account Groups and Reports
- Financial Reporting Studio
- Financial Statement Generation
- Smart View Reporting
Topic 7: Journal Processing- Recurring Journals
- Configure Journal Approval
- Allocation Rules
- Journal Import and Posting
- Create and Manage Journals

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

1. You are creating financial Statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results. How would you achieve this? (Choose Two)

A) When viewing the report, download to Excel and use Excel's charting features to create your bar graph
B) Use Smart View, which is and Excel Add-on
C) when designing your financial statement using financial report (FR), embed a chart into your report.
D) use Account Inspector that automatically creates graphs on financials balances


2. Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions. Which three features facilitate this?

A) Account Inspector
B) Financial Reports published to Excel
C) Account Monitor
D) Online Transactional Business Intelligence
E) Smart View


3. Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions.
Which two statements are correct? (Choose two.)

A) While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
B) While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
C) Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
D) Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
E) While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
F) Define budgetary control at ledger level and only encumbrance control at the business units


4. How can your Accounting Manager expedite journal processing during the time-critical month-end close?

A) by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
B) by running the Journals report using Business Intelligence Publisher
C) by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
D) by using the Close Status monitor to drill down on the close status across ledgers


5. You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?

A) Freeze the Intercompany journal source in General Ledger
B) Close the General Ledger period in the Manager Accounting Periods page
C) Close all subledger periods
D) Close Intercompany periods in Fusion Intercompany


Solutions:

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

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