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Oracle 1Z0-1054-21 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. Your customer uses Financials Cloud, Projects, Inventory and Procurement. Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A) Each product has its own Intercompany Accounting feature that needs to be set up separately
B) Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
C) They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
D) Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management

2. You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

A) Create a Smart view report, where the various sheets represent the different Financial Statements and send them the spreadsheet
B) Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
C) Use a report batch to run reports at a specific time to create a set of snapshot reports
D) Use OTBI to create multiple reports that you save to a folder that only the users can access
E) Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

3. Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?

A) Use the spreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period
B) Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
C) There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
D) Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period.

4. Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

A) data access and security
B) chart of accounts hierarchy maintenance
C) chart of accounts master data maintenance
D) cross-validation rules
E) integration with transactions from external feeder systems

5. Your customer is a financial Institution that needs to maintain average daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?

A) Average balances are stored for both subledger balances and general ledger balances
B) Average balances are stored in the Essbase cube
C) When using ADB, you must define a daily calendar and assign it to your ADB ledger
D) ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances
E) Average balances are maintained for both actual and budget balances

Solutions: