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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Budgetary Control and Encumbrance Accounting | 10% | - Set up encumbrance accounting - Configure budgetary control - Monitor budget balances and control |
| Topic 2: Journal Processing | 20% | - Import and post journals - Perform journal adjustments and reversals - Create and approve journal entries - Manage allocations and recurring journals |
| Topic 3: Intercompany and Intracompany Balancing | 10% | - Process and reconcile intercompany entries - Configure intercompany transactions - Set up intracompany balancing rules |
| Topic 4: Period Close and Financial Reporting | 15% | - Manage accounting periods - Use Financial Reporting Studio and Smart View - Generate financial statements and reports - Perform revaluation, translation, and consolidation |
| Topic 5: Enterprise and Financial Reporting Structures | 20% | - Manage segment value security - Configure chart of accounts - Define enterprise structures - Define financial reporting structures |
| Topic 6: Ledgers and Accounting Setup | 25% | - Define data access sets - Configure currencies, calendars, and accounting conventions - Set up subledger accounting - Define ledgers and ledger sets |
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
1. What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose Two)
A) General Ledger balances are multidimensional, allowing you to perform robust reporting and analysis.
B) Integrating with third-party systems is easier because the Essbase cube provides chart of Accounts mapping rules.
C) You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously.
D) You No longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of Accounts.
2. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Line of 100,000 Euros which is equivalent to USD 136,550 The month end exchange rate Is 1 Euro = 1.3755 USD What two statements are true for the resulting revaluation run?
A) You have an unrealized exchange gain recorded.
B) The original Journal entry in Euros remains the same.
C) There is no unrealized exchange gain or loss calculated
D) The original journal entry in Euros is Updated,
E) You have an unrealized exchange loss recorded.
3. You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities. What type of report will provide this type of information?
A) Account Analysis Report
B) Aging Reports
C) an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
D) Journal Reports
4. You want to monitor the close process if all your financial subledgers and ledgers. How can you quickly obtain this information?
A) Access each subledgers' calendar and General Ledgers' Manage Accounting Periods page to view the status of each period
B) Run Closing Status Reports
C) Use the Manage Accounting Periods page to view the status all subledgers and ledgers
D) Use Close Monitor in General Accounting Dashboard
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) Delete the journal and create a new journal
D) Click the Withdraw Approval button in the Edit Journals page and edit the journal
Solutions:
| Question # 1 Answer: A,C | Question # 2 Answer: B,E | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: D |
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