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Oracle 1z0-1054-24 Exam Syllabus Topics:
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NEW QUESTION # 22
You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What format should you choose?
- A. Fiscal Year
- B. Year
- C. Period
- D. Calendar Year
Answer: A
Explanation:
According to Oracle documentation3, when you need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in, you should choose Fiscal Year as the format. A Fiscal Year format enables you to define periods based on fiscal years that span two calendar years. Therefore, option A is correct. Option B is incorrect because a Calendar Year format defines periods based on calendar years that start on January 1st and end on December
31st. Option C is incorrect because a Period format defines periods based on any number of days or weeks.
Option D is incorrect because a Year format defines periods based on calendar years that start on any month other than January and end on any month other than December.
NEW QUESTION # 23
Which two statements are true about balances cubes in General Ledger?
- A. New dimensions can be added to a General Ledger balances cube.
- B. They are updated automatically when the General Ledger period is opened.
- C. They are updated automatically when the Translation process is run.
- D. A new balances cube is created for a unique combination of ledger and currency.
- E. They are updated automatically when the Revaluation process is run.
Answer: A,D
Explanation:
Balances cubes are multidimensional databases that store financial balances for interactive reporting and analysis. A balances cube is created for each unique combination of ledger and currency, and it contains dimensions such as chart of accounts segments, periods, scenarios, and other user-defined attributes. New dimensions can be added to a balances cube by using the Manage Balances Cube Dimensions task in General Ledger. Balances cubes are updated automatically when journals are posted in General Ledger, and they can also be refreshed manually by using the Refresh Balances Cube task. Balances cubes are not affected by the Translation or Revaluation processes, as these processes only update the balances tables in General Ledger.
References:
* Overview of Oracle General Ledger Balances Cubes1
* Considerations for General Ledger Balances Cubes2
* Overview of Oracle Essbase Balances Cubes3
NEW QUESTION # 24
In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. Output type
- B. The layout Template
- C. The Sub Template
- D. The Data Model
- E. The Style Template
Answer: A,D
Explanation:
To add a global branding logo and more predefined transactional attributes to the journal approval email notification, you should copy (or customize) and edit the layout template and the data model. The layout template is a file that defines the appearance and content of the notification, such as text, images, tables, or charts. The data model is a file that defines the data sources and queries that provide data for the notification, such as predefined transactional attributes. You can copy (or customize) and edit the layout template and the data model using Oracle Analytics Publisher reports. You do not need to copy (or customize) and edit the output type, as this is a setting that determines the format of the notification output, such as HTML or PDF.
You do not need to copy (or customize) and edit the style template, as this is a file that defines the styles and formatting of the notification elements, such as fonts, colors, or margins. You do not need to copy (or customize) and edit the sub template, as this is a file that contains reusable content or logic that can be referenced by multiple layout templates. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Workflow Approvals and Notifications 12
NEW QUESTION # 25
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?
- A. Rerun Revaluation and then rerun Translation.
- B. Rerun Translation and then reconsolidate your results.
- C. Enter another adjusting journal entry in the target currency to true up the balances.
- D. Translate only the adjusting journal entry.
Answer: B
Explanation:
According to Oracle's documentation, if you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set to ensure that all balances are translated using the same exchange rates. Then, you should reconsolidate your results to reflect the updated translated balances. References:
* Using General Ledger, page 9-7: "If you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set."
* Using General Ledger, page 9-8: "After you run translation, you can consolidate your results to create a consolidated balance sheet and income statement."
* Implement General Ledger, page 2-10: "You can translate and consolidate balances as part of the period close process."
NEW QUESTION # 26
You are setting upClose Monitor, which comprises aledger set hierarchy definition.
Which two components of theenterprise structureshould the ledgers in the ledger set share?
- A. Chart of Accounts and Business Units
- B. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
- C. Chart of Accounts
- D. Legal Entities, Business Units, and Chart of Accounts
- E. Accounting Calendar
Answer: C,E
NEW QUESTION # 27
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. Target
- B. Source
- C. Offset
- D. Basis
- E. Allocation Range
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 # 28
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis?
(Choose two.)
- A. Reports and Analytics
- B. Universal Content Management Workspace
- C. Business Process Management Workspace
- D. Scheduled Processes
- E. Enterprise Performance Management Workspace
Answer: A,E
Explanation:
The two options that allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis are Reports and Analytics and Enterprise Performance Management Workspace. Reports and Analytics is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Reports and Analytics from various pages in Oracle Fusion Applications or from Oracle Fusion Cloud Service Console. Enterprise Performance Management Workspace is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Enterprise Performance Management Workspace from Oracle Fusion Cloud Service Console or from a web browser. Universal Content Management Workspace is not an option that allows access to the BI Catalog for creating an OracleTransactional Business Intelligence analysis, as this is a tool that allows users to manage documents and other digital content in Oracle Fusion Applications. Business Process Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to monitor and manage business processes in Oracle Fusion Applications. Scheduled Processes is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to submit, monitor, and manage scheduled processes in Oracle Fusion Applications. Reference: Oracle FinancialsCloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 29
When working with Essbase, versions of the tree hierarchy as defined in the Fusion are not available in the Essbase balances cube. What should you do to correct this situation?
- A. Make sure the tree is active.
- B. Make sure to flatten the rows of the tree version.
- C. Make sure the tree version was published successfully.
- D. Redeploy the chart of accounts.
Answer: C
NEW QUESTION # 30
Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.
Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.
Answer:
Explanation:
See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
* In the Setup and Maintenance work area, go to the following:
* Offering: Financials
* Functional Area: Financial Reporting Structures
* Task: Manage Shorthand Aliases
* Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
* Click on the Add Row icon to create a new alias. Enter the following information:
* Alias Name: RevDom
* Account Template: 101-2000-400000-000-000-000
* Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center
* Enabled: Yes
* Start Date: Today's date
* End Date: Blank
* Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
* Account Aliases
* Enter a GL Account Alias
* Short Hand Alias in Fusion Financials Key Flexfield
* How to Enable Account Shorthand Aliases
NEW QUESTION # 31
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle's recommended method to define this chart of accounts?
- A. Define the intercompany segment with a default value.
- B. Share the same value set for the company and intercompany segments.
- C. Create two different value sets for the company and intercompany segments.
- D. Define the company segment and assign both the primary balancing segment and intercompany segment labels.
Answer: B
Explanation:
According to Oracle documentation3, Oracle's recommended method to define a chart of accounts that includes an intercompany segment when your customer plans to use segment value security rules for the Company segment is to share the same value set for the company and intercompany segments. Sharing the same value set enables you to use segment value security rules for both segments and ensures that the values in both segments are consistent. Therefore, option B is correct. Option A is incorrect because defining the intercompany segment with a default value does not enable segment value security rules for the intercompanysegment. Option C is incorrect because defining the company segment and assigning both the primary balancing segment and intercompany segment labels does not enable segment value security rules for the intercompany segment. Option D is incorrect because creating two different value sets for the company and intercompany segments does not ensure that the values in both segments are consistent.
NEW QUESTION # 32
Which two statements areTRUEregarding theBalances CubesinGeneral Ledger?
- A. New dimensions can be added to a General Ledger Balances Cube.
- B. A new Balances Cube is created for a unique combination of Ledger and Currency.
- C. They are updated automatically when the Revaluation process is run.
- D. They are updated automatically when the General Ledger period is opened.
- E. They are updated automatically when the Translation process is run.
Answer: D,E
NEW QUESTION # 33
You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?
- A. Run the Chart of Accounts Deployment process.
- B. Make sure all users sign out of the calculation manager.
- C. Run the Publish Chart of Accounts Dimension Members and Hierarchies program.
- D. Ensure that you do not assign children to child values.
- E. Ensure that parent values have the summary attributes set correctly.
Answer: D,E
NEW QUESTION # 34
A new Oracle Fusion Cloud client needs to produce an income statement on a regular basis using Smart View.
Which Smart View tool would be best for this?
- A. Query Designer
- B. Account Groups
- C. Smart Queries
- D. Smart Slices
Answer: A
Explanation:
Query Designer is a Smart View tool that enables you to create and modify ad hoc queries on General Ledger balances cubes. You can use Query Designer to select the dimensions, members, and filters that you want to include in your query, and then retrieve the data in a grid format in Excel. You can also save, open, and refresh your queries as needed. Query Designer is the best tool for producing an income statement on a regular basis using Smart View, because it allows you to easily access and analyze the income and expense accounts, as well as the ledger, period, currency, and other dimensions that are relevant for your report. You can also customize the layout and format of your grid, and use Excel functions and features to enhance your report. References:
* Overview of Smart View
* Creating an Ad Hoc Analysis in Smart View
NEW QUESTION # 35
What are two uses of the Column Flattening and Row Flattening features? (Choose two.)
- A. Verify correctness of trees.
- B. Create additional versions of a tree.
- C. View information for runtime performance.
- D. Optimize parent/child relationships.
- E. Set the status of a tree to active.
Answer: A,E
Explanation:
The two uses of the Column Flattening and Row Flattening features are to set the status of a tree to active and to verify correctness of trees. Column Flattening and Row Flattening are features that optimize parent-child information for run-time performance by storing additional rows or columns in a table for instantly finding all descendants or ancestors of a node without initiating a recursive query. Column Flattening and Row Flattening are required to set the status of a tree to active, as they ensure that the tree data is consistent and accurate. Column Flattening and Row Flattening are also useful to verify correctness of trees, as they allow users to view and analyze the flattened hierarchy data using various tools such as Oracle Analytics Publisher or Oracle Transactional Business Intelligence. You do not use Column Flattening and Row Flattening to create additional versions of a tree, as this is a feature that allows users to copy an existing tree version and make changes to it without affecting the original version. Youdo not use Column Flattening and Row Flattening to view information for runtime performance, as this is a feature that allows users to monitor and measure the performance of various processes or tasks in Oracle Fusion Applications. You do not use Column Flattening and Row Flattening to optimize parent/child relationships, as this is a feature that allows users to define rules and constraints for how nodes can be related to each other in a tree structure. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 1
2
NEW QUESTION # 36
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. There is no unrealized exchange gain or loss calculated.
- B. You have an unrealized exchange loss recorded.
- C. The original journal entry in Euros is updated.
- D. The original journal entry in Euros remains the same.
- E. You have an unrealized exchange gain recorded.
Answer: B,D
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 # 37
Your customer isexpanding its operations. You defined a newledgerand severalbusiness units. However, you areunable to assignthe newly generateddata rolesto existingAccounts Payables and Accounts Receivablesusers in the shared service center.
What should you do to correct the problem?
- A. Open Access Policy Manager (APM) and assign the roles manually.
- B. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.
- C. Open the Manage Users page and make sure the employees at
- D. Open the Oracle Identity Management (OIM) and make sure the data roles were created.
Answer: A
NEW QUESTION # 38
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. The report displays all clearing company balancing lines for a period.
- B. The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- C. The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- D. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- E. The report displays the intercompany receivables and intercompany payables balances in summary for a period.
Answer: B,C
Explanation:
According to the Oracle documentation12, the Intercompany Reconciliation Report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison (option C). The report also includes ledger balancing lines generated when the primary balancing segment value is in balance, but either the second or third balancing segment values are not (option B). Option A is incorrect because you can drill down to the general ledger journal, subledger accounting entry, and source receivables or payables transaction2. Option D is incorrect because the report displays the intercompany receivables and intercompany payables balances in summary for a period, and any differences between them1
. Option E is incorrect because the report does not display clearing company balancing lines2.
NEW QUESTION # 39
Which two are valid Data Access Set types? (Choose two.)
- A. Full Ledger
- B. Read Only access
- C. Read and Write access
- D. Primary Balancing Segment Value
- E. Full access
Answer: B,E
Explanation:
The two valid Data Access Set types are Full access and Read Only access. A Data Access Set is a security feature that defines the access level that users have to ledger data, such as balances, budgets, or journals. A Data Access Set type is an attribute that determines the type of access that users have to ledger data within a Data Access Set. The two valid Data Access Set types are Full access and Read Only access. Full access allows users to view and enter data for ledger data within a Data Access Set. Read Only access allows users to view but not enter data for ledger data within a Data Access Set. Full Ledger is not a valid Data Access Set type, but an option that determines whether a Data Access Set grants access to all balancing segment values in a ledger or only specific balancing segment values. Primary Balancing Segment Value is not a valid Data Access Set type, but an attribute that identifies the legal entity or business unit for which financial statements are prepared and balanced. Read and Write access is not a valid Data Access Set type, but an alternative term for Full access. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12
NEW QUESTION # 40
You have set up asupporting reference with balancesto capturerevenue by account manager.
Which option should you use to view thesupporting reference balances?
- A. General Ledger inquiries and reports
- B. A SmartView analysis
- C. An Account Group
- D. An OTBI analysis
Answer: D
NEW QUESTION # 41
Users with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The accounting configuration completed successfully.
What should you do to allow access to the ledger?
- A. Assign the UK reference set to the user/role combination.
- B. Assign the security context value of UK Ledger to the user/role combination.
- C. Create a data access set that allows access to the UK Ledger.
- D. Assign the General Accounting Manager role to those users.
Answer: C
Explanation:
Data access sets are collections of ledgers that define the data security for users who access General Ledger.
Users can only access the ledgers that are assigned to them through data access sets. To allow users with the General Accountant job role to access the UK Ledger, you need to create a data access set that includes the UK Ledger and assign it to the user/role combination. You also need to specify the access privilege for the data access set, which can be Full Ledger, Both Read and Write, or Read Only. In this case, you need to select Both Read and Write to allow read/write access to the full ledger. References:
* Implement General Ledger
* GL_ACCESS_SET_LEDGERS
* The Default Data Access Set
* Overview of General Ledger Security
NEW QUESTION # 42
Your company hascomplex consolidation requirementswithmultiple general ledger instances. You are usingOracle Hyperion Financial Managementto consolidate the disparateGeneral Ledgers.
You can typically map segments between yourgeneral ledger segmentto aHyperion Financial Management segment, such as:
* Company to Entity
* Department to Department
* Account to Account
What happens to segments in yoursource general ledger, such asProgram, thatcannot be mappedto Hyperion Financial Management?
- A. Data is summarized across segments that are not mapped to Hyperion Financial Management.
- B. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management.
- C. The unmapped segments default tofuture use segmentsin Hyperion Financial Management.
- D. The data is not transferred.
Answer: A
NEW QUESTION # 43
After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable "Limit a Journal to a Single Currency"?
(Choose two.)
- A. Ledger options
- B. Profile option
- C. Journal lookup codes
- D. Journal category
- E. Journal sources
Answer: A,E
Explanation:
To achieve the requirement of only single currency journals being entered for this company, you should enable "Limit a Journal to a Single Currency" on both ledger options and journal sources. Ledger options are settings that apply to a specific ledger, such as journal processing options, currency options, and average balance processing options. Journal sources are identifiers that indicate where a journal originated, such as manual entry, subledger accounting, or import. You can enable "Limit a Journal to a Single Currency" on both ledger options and journal sources using the Specify Ledger Options and Manage Journal Sources tasks in Setup and Maintenance. This will enforce single currency journals for journals entered on the Create Journal page and for journals that are imported. You do not need to enable "Limit a Journal to a Single Currency" on journal lookup codes, as these are codes that indicate the status of a journal, such as Entered, Posted, or Reversed. You do not need to enable "Limit a Journal to a Single Currency" on journal category, as this is an attribute that classifies journals by purpose or function, suchas Purchase Invoices or Allocations.
You do not need to enable "Limit a Journal to a Single Currency" on profile option, as this is a setting that affects the behavior of an application or feature for a user or responsibility. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12
NEW QUESTION # 44
You want to automatically post journal batches imported from subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger.
Which two aspects should you consider when defining your AutoPost Criteria?
- A. Create your AutoPost criteria using minimal sources and categories.
- B. Include all of your subledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.
- C. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
- D. Schedule your AutoPost Criteria set to run during off-peak hours only.
Answer: B,C
NEW QUESTION # 45
Budgetary control for accounts 5020 and 5021 has a budget of $90,000 USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each.
A Fund of $50,000 USD is available for account 5020 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?
- A. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
- B. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
- C. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD only will be carried forward.
- D. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
- E. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
Answer: E
NEW QUESTION # 46
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