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Oracle 1z0-1054-23 Exam Overview:
| Certification Vendor: | Oracle |
| Exam Name: | Oracle Financials Cloud: General Ledger 2023 Implementation Professional |
| Exam Number: | 1Z0-1054-23 |
| Exam Duration: | 90 minutes |
| Related Certifications: | Oracle Financials Cloud Certification Oracle Cloud ERP Financials |
| Certificate Validity Period: | Oracle Cloud certifications are typically valid for the corresponding product release cycle |
| Exam Format: | Multiple Choice |
| Available Languages: | English |
| Real Exam Qty: | 50 |
| Exam Price: | $245 USD |
| Passing Score: | 68% |
| Sample Questions: | Oracle 1z0-1054-23 Sample Questions |
| Exam Way: | Online proctored exam or test center delivery through Oracle Certification program. |
| Pre Condition: | Oracle recommends implementation experience with Oracle Financials Cloud General Ledger and related ERP Financials modules. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1z0-1054-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Security and Data Access | - Access Management
|
| Enterprise Structure and General Ledger Setup | - Enterprise Configuration
|
| Ledger Configuration | - Ledger Management
|
| Budgeting and Allocations | - Financial Planning
|
| Period Close and Financial Reporting | - Close and Reporting Activities
|
| Journal Processing | - Journal Management
|
| Intercompany Accounting | - Intercompany Processing
|
Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
1. In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
A) The Data Model
B) The Style Template
C) The layout Template
D) The Sub Template
E) Output type
2. You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?
A) by creating Cross-Validation Rules desktop-integrated spreadsheet.
B) by using the Manage Cross-Validation Rules page.
C) by using the Manage General Ledger Security page.
D) by using Cross-Validation Rules Import file-based data import (FBDI).
3. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)
A) There is no unrealized exchange gain or loss calculated.
B) You have an unrealized exchange gain recorded.
C) The original journal entry in Euros remains the same.
D) You have an unrealized exchange loss recorded.
E) The original journal entry in Euros is updated.
4. You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?
A) Rerun Revaluation and then rerun Translation.
B) Rerun Translation and then reconsolidate your results.
C) Translate only the adjusting journal entry.
D) Enter another adjusting journal entry in the target currency to true up the balances.
5. You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud.
The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.
The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.
Which conversion level would you recommend to keep a thin secondary ledger?
A) Adjustment only
B) Sub-ledger level.
C) Balance level
D) Journal ledger
Solutions:
| Question # 1 Answer: A,E | Question # 2 Answer: D | Question # 3 Answer: B,D | Question # 4 Answer: B | Question # 5 Answer: C |
By Hiram
