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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Subledger Accounting | - Event processing
|
| Enterprise Structures and Setup | - Ledger configuration
|
| Period Close Process | - Close activities
|
| Journal Processing | - Manual journals
|
| Security and Configuration | - Implementation setup tasks
|
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
1. You are creating financial Statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results. How would you achieve this? (Choose Two)
A) Use Smart View, which is and Excel Add-on
B) when designing your financial statement using financial report (FR), embed a chart into your report.
C) When viewing the report, download to Excel and use Excel's charting features to create your bar graph
D) use Account Inspector that automatically creates graphs on financials balances
2. Before Implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts, What's is a more automated approach to do this?
A) Run the BI publisher reports called intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
B) Run the intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance.
C) Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
D) In Financials Cloud, you must manually reconcile your intercompany account balances
3. You have enabled budgetary control and have a control budget set to Advisory control level. For September 2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of$2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD.
An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)
A) The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
B) No change
C) Funds reservation only happens for non-matched invoices, so the system will not reserve funds
D) As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
4. 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) 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
B) Average balances are maintained for both actual and budget balances
C) Average balances are stored for both subledger balances and general ledger balances
D) Average balances are stored in the Essbase cube
E) When using ADB, you must define a daily calendar and assign it to your ADB ledger
5. Which reporting tool is best suited for submitting high-volume transactions reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?
A) Financial Reporting Center
B) Business Intelligence Publisher (BI Publisher)
C) Oracle Data Visualization Cloud Service
D) Smart View
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: A,D | Question # 4 Answer: A,B | Question # 5 Answer: B |


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