Maximum Grades By Making ready With 1z0-1054-22 Dumps UPDATED 2023
Prepare 1z0-1054-22 Exam Questions [2023] Recently Updated Questions
Oracle 1z0-1054-22 Exam is aimed at individuals who have a strong understanding of financial processes and accounting principles. Candidates should also have experience with Oracle Financials Cloud and general ledger implementation. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification exam is intended to help professionals advance their careers by demonstrating their expertise in the field of financials and general ledger implementation.
NEW QUESTION # 41
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?
- A. Account Group
- B. Budget Group
- C. Budget Controller
- D. Budget Account Group
- E. Application Development Framework Desktop Integration (ADFdi)
Answer: A
NEW QUESTION # 42
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Financial Reporting Studio
- B. Oracle Financial Statement Generator
- C. Financial Reporting Center
- D. Smart View
Answer: A,C
Explanation:
D18912E1457D5D1DDCBD40AB3BF70D5D
Reference:
html#FAUGL513446
NEW QUESTION # 43
You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What Calendar format should you choose?
- A. Calendar
- B. Period
- C. Year
- D. Fiscal
Answer: B
NEW QUESTION # 44
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Accounting Date
- B. Account Rules
- C. Journal Line Rules
- D. Supporting References
- E. Chart of Accounts
Answer: B,C,D
Explanation:
According to Oracle documentation3, the subcomponents of a Subledger Journal Entry Rule Set are Journal Line Rules, Account Rules, and Supporting References. A Subledger Journal Entry Rule Set defines how subledger journal entries are created for each event class and event type. A Journal Line Rule defines how subledger journal lines are created for each event class and event type. An Account Rule defines how accounts are derived for each journal line. A Supporting Reference stores additional information for journal lines. Therefore, options C, D, and E are correct. Option A is incorrect because Accounting Date is not a subcomponent of a Subledger Journal Entry Rule Set. Option B is incorrect because Chart of Accounts is not a subcomponent of a Subledger Journal Entry Rule Set.
NEW QUESTION # 45
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 Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
- C. Use Oracle Hyperion Financial Management for this type of complex consolidation
- D. 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.
Answer: B
NEW QUESTION # 46
You are setting up Close Monitor, which compromises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)
- A. Chart of Accounts
- B. Accounting Calendar
- C. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
- D. Legal Entities, Business Units, and Chart of Accounts
- E. Chart of Accounts and Business Units
Answer: A,B
NEW QUESTION # 47
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)
- A. A control budget can be associated with a different calendar than accounting calendar
- B. Control budgets are always absolute to generate encumbrance accounting
- C. The control budget structure has all the chart of account segments as budget segments
- D. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
- E. A control budget can allow override rules only if the control level is absolute
Answer: A,B,E
NEW QUESTION # 48
You can run predefined reports to reconcile subledger application balances to General Ledger balances.
Which attribute needs to be set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation Report or Receivables to General Ledger Reconciliation Report?
- A. End Date
- B. Financial Category
- C. Start Date
- D. Reconcile
- E. Third Party Control Account
Answer: E
Explanation:
According to Oracle documentation3, the attribute that needs to be set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation Report or Receivables to General Ledger Reconciliation Report is Third Party Control Account. The Third Party Control Account attribute enables you to maintain detailed balances by third party for an account combination. Valid third-party information must be associated with the journal line if the account is a third party control account. General Ledger prevents manual journal entries from posting to third party control accounts. Therefore, option B is correct. Option A is incorrect because Financial Category is not an attribute that affects the reconciliation reports. Option C is incorrect because End Date is not an attribute that affects the reconciliation reports. Option D is incorrect because Start Date is not an attribute that affects the reconciliation reports. Option E is incorrect because Reconcile is not an attribute that affects the reconciliation reports.
NEW QUESTION # 49
A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency.
There is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to address this reporting requirement? (Choose two.)
- A. a reporting currency with the local accounting convention
- B. a primary ledger with the local accounting convention
- C. a primary ledger with the IFRS accounting convention
- D. a reporting currency with the IFRS accounting convention
- E. a secondary ledger with the IFRS accounting convention
Answer: A,C
NEW QUESTION # 50
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)
- A. Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions
- B. Assign a Subledger Accounting Method to the secondary ledger
- C. Define Supporting Reference with balances
- D. Define Journal Conversion Rules that exclude subledgers
- E. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
Answer: A,B
Explanation:
you need to define journal conversion rules that include subledgers in order to transfer subledger transactions when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Journal conversion rules define how journal entries are converted from one ledger to another ledger. Therefore, option B is correct. You also need to assign a Subledger Accounting Method to the secondary ledger when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. A Subledger Accounting Method defines how accounting entries are generated for subledger transactions. Therefore, option D is correct. Option A is incorrect because you don't need to ensure that the Accounting Calendar and Currency are the same as the Primary Ledger when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. You can have different Accounting Calendar and Currency for your secondary ledger. Option C is incorrect because you don't need to define journal conversion rules that exclude subledgers when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. You need to include subledgers in your journal conversion rules. Option E is incorrect because you don't need to define Supporting Reference with balances when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Supporting Reference are used to store additional information for journal lines.
NEW QUESTION # 51
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. They can format certain tables by hiding and showing columns, moving columns, and resizing columns
- B. They can use "+" under the Apps section of the News Feed homepage
- C. Users have very little control configuring their Springboards and Work Areas; they can only resize columns
- D. They can have the System Administrator configuring pages for them using Page Composer
Answer: A,B
Explanation:
According to Oracle documentation2, your users can personalize the Springboards and Work Areas to suit their individual working styles in these two ways: They can format certain tables by hiding and showing columns, moving columns, and resizing columns, and they can use "+" under the Apps section of the News Feed homepage. Springboards and Work Areas are user interface components that enable users to access tasks and information relevant to their roles. Users can customize these components by adding or removing tiles, changing layouts, filtering data, and formatting tables. Therefore, options A and D are correct. Option B is incorrect because users have more control over configuring their Springboards and Work Areas than just resizing columns. Option C is incorrect because users do not need to have the System Administrator configuring pages for them using Page Composer.
NEW QUESTION # 52
You entered the following information in the Companies and Legal Entities tab of the Rapid Implementation Spreadsheet:
Assuming currency is left blank in the Ledger worksheet, how many Ledgers will the process create?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
NEW QUESTION # 53
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. Application Developer Framework Desktop Integrator
- B. The budget journal spreadsheet
- C. Enterprise Resource Budget Integrator
- D. File Based Data Import
Answer: A
NEW QUESTION # 54
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. calculation manager to perform allocations based on multidimensional balances and budgets
- B. journal entries and journal approval to create journals that update balances to the cube directly
- C. revaluations and translation to revalue and translate currencies stored in the Essbase cube
- D. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
Answer: C
NEW QUESTION # 55
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
- E. Posting performance is much faster
Answer: A,C
Explanation:
The benefits of having the Essbase cube embedded in General Ledger Cloud are that general ledger balances are multidimensional, allowing you to perform robust reporting and analysis using different dimensions and hierarchies, and that 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. Posting performance is not faster because of the Essbase cube, as posting still involves updating the relational tables. Integrating with third-party systems is not easier because of the Essbase cube, as this involves using web services or file-based data import. You still need to create and maintain hierarchies because the Essbase cubes are not created when you create your chart of accounts, but when you complete the accounting configuration. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 56
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)
- A. Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions
- B. Assign a Subledger Accounting Method to the secondary ledger
- C. Define Journal Conversion Rules that exclude subledgers
- D. Define Supporting References with balances
- E. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
Answer: A,B
NEW QUESTION # 57
A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency.
There is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to address this reporting requirement? (Choose two.)
- A. a primary ledger with the local accounting convention
- B. a primary ledger with the IFRS accounting convention
- C. a reporting currency with the local accounting convention
- D. a secondary ledger with the IFRS accounting convention
- E. a reporting currency with the IFRS accounting convention
Answer: A,D
Explanation:
According to Oracle documentation4, when you have a subsidiary company in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP, you should configure the ledgers using these two ledger types: a primary ledger with the local accounting convention, and a secondary ledger with the IFRS accounting convention. A primary ledger represents your main accounting books that comply with local GAAP. A secondary ledger represents an alternative accounting representation that complies with IFRS. Therefore, options A and D are correct. Option B is incorrect because a reporting currency with the IFRS accounting convention does not represent an alternative accounting representation. Option C is incorrect because a primary ledger with the IFRS accounting convention does not comply with local GAAP. Option E is incorrect because a reporting currency with the local accounting convention does not represent an alternative accounting representation.
NEW QUESTION # 58
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
- A. Event Type
- B. Event Class
- C. Journal Line Rule
- D. Journal Entry Rule Set
- E. Journal Entry
Answer: C
Explanation:
you can override the default accounting attribute assignment at the journal line rule level. A journal line rule defines how subledger journal lines are created for each event class and event type. Therefore, option C is correct. Option A is incorrect because a journal entry rule set defines how subledger journal entries are created for each event class, not how accounting attributes are assigned. Option B is incorrect because an event type defines a business operation that triggers accounting, not how accounting attributes are assigned. Option D is incorrect because a journal entry defines a set of subledger journal lines that are created for an accounting event, not how accounting attributes are assigned. Option E is incorrect because an event class defines a category of business transactions that have similar accounting impact, not how accounting attributes are assigned.
NEW QUESTION # 59
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?
- A. Accounting Configuration was not submitted
- B. Chart of accounts was not deployed
- C. Two tree versions were not defined
- D. An Audit process needs to be successfully performed before a tree version can be set to Active
Answer: D
Explanation:
https://docs.oracle.com/cd/E51367_01/financialsop_gs/OAACT/F1005378AN156C9.htm The reason why you are unable to set a tree or hierarchy status to Active is that an Audit process needs to be successfully performed before a tree version can be set to Active. The Audit process validates the tree structure and checks for errors or inconsistencies. If the Audit process fails, you need to correct the errors and run the Audit process again until it succeeds. Then you can set the tree version status to Active. The number of tree versions does not affect the ability to set a tree status to Active, as long as there is at least one tree version defined. Accounting Configuration does not need to be submitted before setting a tree status to Active, as this is a separate task that involves submitting all accounting configuration changes for deployment. Chart of accounts does not need to be deployed before setting a tree status to Active, as this is a separate task that involves deploying flexfield metadata changes for validation and activation. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12
NEW QUESTION # 60
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?
- A. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
- B. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
- C. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
- D. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
Answer: A
Explanation:
The Import Account Combinations process is used to create and/or modify account combinations using a file-based data import (FBDI). The appropriate upload steps are to insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process2.
NEW QUESTION # 61
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. Define the company segment and assign both the primary balancing segment and intercompany segment labels.
- C. Create two different value sets for the company and intercompany segments.
- D. Share the same value set for the company and intercompany segments.
Answer: D
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 intercompany segment. 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 # 62
How can your Accounting Manager expedite journal processing during the time-critical month-end close?
- A. by running the Journals report using Business Intelligence Publisher
- B. by using the Close Status monitor to drill down on the close status across ledgers
- C. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
- D. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
Answer: D
NEW QUESTION # 63
You have a requirement to have invoices generated for certain Intercompany transactions.
Where do you enable invoicing?
- A. the transaction source
- B. the transaction batch
- C. the transaction type
- D. the transaction category
Answer: C
Explanation:
According to Oracle documentation2, you enable invoicing for certain Intercompany transactions on the transaction type. The transaction type defines the characteristics of an intercompany transaction, such as whether it requires approval, whether it generates invoices, and what accounting rules apply. You can enable invoicing for a transaction type by selecting the Invoicing Options tab and choosing the invoice method, invoice source, invoice batch source, and invoice rule. Therefore, option D is correct. Option A is incorrect because you do not enable invoicing on the transaction batch. Option B is incorrect because you do not enable invoicing on the transaction category. Option C is incorrect because you do not enable invoicing on the transaction source.
NEW QUESTION # 64
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. Journals Reports
- B. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
- C. Account Analysis Reports
- D. Aging Reports
Answer: C
NEW QUESTION # 65
......
Give push to your success with 1z0-1054-22 exam questions: https://www.testkingit.com/Oracle/latest-1z0-1054-22-exam-dumps.html
1z0-1054-22 100% Guarantee Download 1z0-1054-22 Exam PDF Q&A: https://drive.google.com/open?id=1IIDO25wLhll9prFdD3YHfYuuF8N-Jp4P