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1Z0-960 Oracle Financials Cloud: General Ledger 2017 Implementation Essentials

May 8, 2018 by admin

Exam Number: 1Z0-960
Exam Title: Oracle Financials Cloud: General Ledger 2017 Implementation Essentials
Associated Certification Paths Oracle Financials Cloud: General Ledger 2017 Certified Implementation Specialist
Duration: 120
Number of Questions: 76
Passing Score: 60%
Validated Against:  This exam has been validated against R13. (Previous version of this exam was validated against R12 in 2017)
Format: Multiple Choice

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

Our certification exams are revised regularly to align with training and product release updates. Information about exam revisions and new topics are found on this page under ‘Validated Statement’ and within the exam topics below. Certifications reflect validated skills for year and product release version date of achievement. If you are preparing for this exam, we recommend you check these topics periodically to ensure your exam prep covers any new topics that may be added based on regular exam revision.

Enterprise Structures
Configure the Chart of Accounts
Explain Essbase
Set up accounting hierarchies
Set up the accounting calendar
Configure Chart of Accounts Security
Configure the legal entity structure and define the relationship to the Chart of Account

Journal Processing
Process journal entries
Configure automated journal processing
Explain the journal approval set up
Configure allocations and periodic entries
Explain Average Daily Balance Processing
Explain the secondary ledger and reporting currencies

Sub ledger Accounting
Create and manage Accounting Rules
Create and process sub ledger accounting entries
Explain the journal description rules
Identify supporting references

Intercompany Processing
Design the Chart of Accounts and segment level rules for intercompany
Set up Intercompany Accounting (system options, transaction types, organizations)
Describe intercompany balancing
Process intercompany transactions and periods
Process intercompany reconciliations

Reporting & Analytics
Explain how to design and use various reporting tools
Set up the Financials Reporting Studio
Explain OTBI and GL Subject Areas
Describe Smart View accounting inquiry and analysis
Describe the General Accounting Dashboard and Work Areas
Analyze budgets versus actuals
Describe the Fusion Accounting Hub Reporting Service

Period Close
Explain the Close Process
Configure and process revaluations
Configure and process translations
Configure and process consolidations
Analyze reconciliations
Close monitor

Budgetary Control and Encumbrance
Configure and Process Budgets
Explain how to analyze and monitor Budget Consumption
Configure Encumbrance Accounting
Process Encumbrance Journals

QUESTION 1
You want to enter budget data in Fusion General Ledger. Which method is not supported?

A. Smart View
B. Application Development Framework Desktop Integration (ADFdi)
C. File-based Data Import
D. Entering budget Journals

Answer: D
Reference:

QUESTION 2
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

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

Answer: D

QUESTION 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 does Oracle consider the best practice approach to performing consolidations?

A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
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 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.
D. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.

Answer: A

QUESTION 4
You want to specify Intercompany System Options.
Which three factors should you consider?

A. Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
B. Whether to allow receivers to reject intercompany transactions
C. Automatic or manual batch numbering and the minimum transaction amount
D. Automatic or manual batch numbering and the maximum transaction amount
E. The approvers who will approve intercompany transactions

Answer: A,B,D

QUESTION 5
You entered a journal and the client is asking for the following information:
• The current account balance
• What the future account balance will be if the Journal is approved and posted
How will you get this information?

A. View the Projected Balance region in the Create Journals page.
B. Run a Trial Balance before and after posting.
C. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
D. Query the account balance online.

Answer: C

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