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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Budgetary Control and Encumbrance Accounting | - Encumbrance Accounting - Configure Budgetary Control - Control Budgets - Funds Check Processing |
| Topic 2: Configuring Enterprise and Financial Reporting Structures | - Manage Ledgers - Manage Legal Authorities and Legal Entities - Manage Geographies - Manage Chart of Accounts - Manage Legal Jurisdictions - Manage Accounting Calendars - Manage Account Hierarchies |
| Topic 3: Intercompany Processing | - Process Intercompany Transactions - Intercompany Reconciliation - Configure Intercompany Balancing Rules |
| Topic 4: Configuring Ledgers | - Configure Secondary Ledgers - Configure Reporting Currencies - Manage Ledger Sets - Define Ledger Options |
| Topic 5: Journal Processing | - Allocation Rules - Journal Import and Posting - Recurring Journals - Create and Manage Journals - Configure Journal Approval |
| Topic 6: Period Close | - Perform Period Close Activities - Manage Accounting Periods - Close Monitoring and Reporting |
| Topic 7: Financial Reporting | - Smart View Reporting - Account Groups and Reports - Financial Reporting Studio - Financial Statement Generation |
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
1. 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) Define budgetary control at ledger level and only encumbrance control at the business units
B) While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
C) Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
D) While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
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 with Budgetary Control Exceptions for each business unit
2. Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)
A) Business Intelligence Administrator (BI Admin)
B) General Accountant
C) Financial Analyst
D) General Accountant Manager
E) Controller
3. All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?
A) Define multiple ledgers for consolidation and report on ledger set
B) Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
C) Use Oracle Hyperion Financial Management for this type of complex consolidation
D) Use General Ledger's Financial Reporting functionality to produce reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
4. You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)
A) whether to allow receivers to reject intercompany transactions
B) whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
C) automatic or manual batch numbering and the maximum transaction amount
D) automatic or manual batch numbering and the minimum transaction amount
E) the approvers who will approve intercompany transactions
5. Your customer operates three shared services that perform accounting functions across 50 countries What feature allows them to share setup data, such as Payment Terms, across Business Units?
A) Business Units functions
B) Reference Data Sets
C) Data Access Sets
D) None
Solutions:
| Question # 1 Answer: A,F | Question # 2 Answer: B,C,D | Question # 3 Answer: D | Question # 4 Answer: A,B,D | Question # 5 Answer: B |
