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1Z0-1054-23 Oracle Financials Cloud: General Ledger 2022 Implementation Professional Exam

July 3, 2023 by admin

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Oracle Financials Cloud: General Ledger 2023 Certified Implementation Professional

Format: Hands-on Performance Based
Duration: 90 Minutes
Exam Price: $
Number of Questions: Not Applicable
Passing Score: Challenges – 75% | Multiple choice – 75%
Validation: This exam has been validated against 22A/22B/22C/22D/23A/23B.
Policy: Cloud Recertification
Prepare to pass exam: 1Z0-1054-23

The Oracle Financials Cloud: General Ledger 2023 Certified Implementation Professional certification is a Hands-on Performance based Professional level certification comprising of hands-on challenges and multiple choice questions. You will need to pass each of the sections individually to achieve the certification credential. You will receive an overall result.

An Oracle Financials Cloud: General Ledger 2023 Certified Implementation Professional has demonstrated the knowledge and skills required to implement Oracle Cloud Financials. Individuals who earn this certification are able to Configure Enterprise and Financial Reporting Structures, Configure Ledgers, Explain Journal Approval setups, Configure and Process Intercompany, Configure Period Close Components and Financial Reporting, and analyze budgets versus actuals.

If you have a valid Oracle Financials Cloud: General Ledger Implementation Professional Certification, and your credential has not expired, you can maintain your certification by taking the corresponding shorter Delta exam.

Login to Oracle CertView to check if your certification credential has expired or is still valid.

Check the Oracle Recertification Policy to see if you qualify.

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Take recommended training
Complete one of the courses below to prepare for your exam (optional): Become a Certified Financials – General Ledger Implementer

Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs and/or field experience), in the learning subscription, provides the best preparation for passing the exam.

Review exam topics

Configuring Enterprise and Financial Reporting Structures
Manage Chart of Accounts
Manage Account Hierarchies
Manage Accounting Calendars
Manage Chart of Accounts Security
Manage Legal Jurisdictions, Legal Authorities, and Legal Entities
Manage Geographies

Journal Processing
Explain the journal approval setup

Configure and Process Intercompany
Manage Intercompany Balancing Rules and Additional Intercompany and Clearing Options
Set up Intercompany Transaction
Describe intercompany balancing
Process Intercompany Transactions
Process intercompany reconciliations

Configuring Financial Reporting
Explain the Financial Reporting Center and available reporting tools
Manage Reporting using Financial Reporting Web Studio
Explain Oracle Transactional Business Intelligence
Describe Smart View accounting inquiry and analysis
Describe the General Accounting Dashboard and Work Areas
Analyze budgets versus actuals

Configuring Period Close Components
Explain the Close Process
Manage Revaluations
Manage Translations
Manage Consolidations
Manage Reconciliations
Close monitor
Create Allocations and Periodic Entries

Configuring Ledgers
Manage Ledgers
Explain the General Ledger Balances Cube
Manage General Ledger Security

QUESTION 1
When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

A. Make sure to flatten the rows of the tree version
B. Make sure the tree is active
C. Make sure the tree version was published successfully
D. Redeploy the chart ofaccounts

Answer: C

QUESTION 2
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. Accounting Calendar
B. Legal Entities, Business Units, and Chart of Accounts
C. Chart of Accounts
D. Chart of Accounts and Business Units
E. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method

Answer: A,C

QUESTION 3
You want to monitor the close process of all your financial subledgers and ledgers.
How can you quickly obtain this information?

A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
B. Access each subledgers’ calendar and General Ledger’s Manage Accounting Periods page to view the status of eachperiod
C. Run Closing Status reports
D. Use Close Monitor in General Accounting Dashboard

Answer: C

QUESTION 4
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.
What is Oracle’s recommended practice when implementing a new chart of accounts?
How many segments and what segment qualifiers should be used?

A. Define three segments for the company, department, and natural account. The qualifiers for the
first segment should be primary balancing segment and intercompany segment, cost center
segment, and natural account segment, respectively.

B. Define four segments for thecompany, department, natural account, andintercompany segment.
The qualifiers should be primary balancing segment, cost center segment, and natural account
segment, and intercompany segment,respectively.

C. Define three segments for the company, department, and natural account. The qualifiers should
be primary balancing segment, cost center segment, and natural account segment, respectively.

D. Define five segments for thecompany,department, natural account, intercompany, and future use
segment. The qualifiers should be primary balancing segment, cost center segment, natural account
segment, intercompany segment, and no qualifier, respectively.

Answer: D

QUESTION 5
Which feature outside of reporting and analysis leverages the Essbase cube?

A. revaluations and translation to revalue and translate currencies stored in the Essbase cube
B. calculation manager to perform allocations based on multidimensional balances and budgets
C. period closing and opening of ledgersto keep General Ledger Cloud and the Essbase cubes in sync
D. journal entries and journal approval to create journals that update balances to the cube directly

Answer: A

QUESTION 6
You want to define an allocation rule where segment values are constants for rules and formulas.
What should you do?

A. Never use the Outer Point of View (POV)
B. Always use the Outer Point of View (POV)
C. Specify Run Time Prompts (RTP)
D. Only specify segment values in formulas

Answer: B

Explanations
A Point of View is used to define dimension values that remain fixed throughout the entire allocation
rule. For example, assume a chart of accounts includes a segment for future use. The Point of View
fixes the value to be the default value so that the dimension value does not have to be selected while
defining the source, basis, target, offset, or allocation range