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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Period Close and Financial Reporting | 15% | - Use Financial Reporting Studio and Smart View - Manage accounting periods - Generate financial statements and reports - Perform revaluation, translation, and consolidation |
| Topic 2: Journal Processing | 20% | - Import and post journals - Create and approve journal entries - Manage allocations and recurring journals - Perform journal adjustments and reversals |
| Topic 3: Intercompany and Intracompany Balancing | 10% | - Set up intracompany balancing rules - Configure intercompany transactions - Process and reconcile intercompany entries |
| Topic 4: Budgetary Control and Encumbrance Accounting | 10% | - Set up encumbrance accounting - Configure budgetary control - Monitor budget balances and control |
| Topic 5: Enterprise and Financial Reporting Structures | 20% | - Define financial reporting structures - Configure chart of accounts - Define enterprise structures - Manage segment value security |
| Topic 6: Ledgers and Accounting Setup | 25% | - Configure currencies, calendars, and accounting conventions - Define data access sets - Set up subledger accounting - Define ledgers and ledger sets |
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
Question 1
The Accounting Manager requests that a schedule be created to automate.ca.ly post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?
A. Journal Description
B. Journal Batch
C. Journal Category
D. Journal Source
Question 2
You are setting up Close Monitor, which comprise 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 and Business Units.
B. Legal Entities, Business Units and Chart of Accounts.
C. Accounting Calendar
D. Chart of Accounts. Currency, Accounting Calendar, an subledger Accounting Method.
Question 3
Which repot show you differences between your subledger balances and General Ledger balances?
A. Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports
B. General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers
C. Payables and Receivables Aging Reports with the General Ledger Trial Balance report
D. Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report
Question 4
During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
A. Create a new chart of accounts.
B. Change and save the segment qualifier.
C. Delete the segment and create a new segment with the correct qualifier.
D. Delete the chart of accounts and create a new one.
Question 5
Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)
A. Define Ledger balancing options to balance by second and third balancing segments
B. When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal
C. Additional intercompany rules will need to be defined for the two additional balancing segments
D. Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry
Solutions:
| Question 1 Answer: D | Question 2 Answer: C,D | Question 3 Answer: D | Question 4 Answer: D | Question 5 Answer: B,C |




