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Oracle 1z0-1054-23 Exam Syllabus Topics:
Section
Objectives
Topic 1: Reporting and Analysis
- Financial Reporting
1. Financial statements generation
2. Smart View reporting
Topic 2: General Ledger Setup
- Accounting Configuration
1. Accounting calendars and periods
2. Ledger options configuration
- Enterprise Structure Configuration
1. Chart of Accounts structure design
2. Legal entities and ledgers setup
Topic 3: Period Close Process
- Close Activities
1. Close monitoring and reporting
2. Reconciliation and adjustments
Topic 4: Journal Processing
- Journal Import and Integration
1. Spreadsheet upload and external sources
- Journal Creation and Posting
1. Manual and recurring journals
2. Journal approval workflow
Topic 5: Subledger Accounting
- Subledger to GL Integration
1. Transfer to General Ledger
- Accounting Rules
1. Journal line rules and account derivation
Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI). What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?
A. Nothing, existing historical rates are not updated.
B. The historical rate is replaced.
C. The existing historical rate is deleted.
D. Historical rates are converted into an average rate (original and new rate).
Answer: B
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A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger. The two accounting standards are very close. Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?
A. Balance level
B. Journal level
C. Adjustment only level
D. Subledger level
E. FBDI level
Answer: C
Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).
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 USD 136,550. This balance needs to be revalued. The month end exchange rate for revaluation is 1 Euro = 1.3755 USD. What two statements are true for the resulting revaluation run? (Choose two.)
A. The original journal entry in Euros is updated.
B. You have an unrealized exchange loss recorded.
C. The original journal entry in Euros remains the same.
D. You have an unrealized exchange gain recorded.
E. There is no unrealized exchange gain or loss calculated.
Answer: B,D
Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).
An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?
A. Chart of accounts rule
B. Ledger-level rule
C. Primary balancing segment rule
D. Legal entity-level rule
Answer: C
Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).
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. The original journal entry in Euros is updated.
B. You have an unrealized exchange loss recorded.
C. The original journal entry in Euros remains the same.
D. You have an unrealized exchange gain recorded.
E. There is no unrealized exchange gain or loss calculated.
Answer: B,C
Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).
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