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Oracle 1z0-1054-23 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. You are setting up Close Monitor and want to view high-level profit and loss results for each ledger.
What should you associate with the ledger set to achieve this?

A) Trial Balance report
B) Financial Reporting Web Studio report
C) Account group
D) OTBI report

2. A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger. The two accounting standards are very close.
Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?

A) Subledger level
B) Balance level
C) Adjustment only level
D) FBDI level
E) Journal level

3. Which two statements are true about infotiles and infolets?

A) Infotiles have Front view. Back view, and Expanded view.
B) You can refresh infolets to see up-to-date data.
C) Infolets are accessed only from the News Feed home page layout.
D) Infotiles pull data from a Smart View analysis.
E) You can create your own user-defined infolets.

4. 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) Balance level
C) Sub-ledger level.
D) Journal ledger

5. You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?

A) Primary balancing segment rule
B) Legal entity-level rule
C) Chart of accounts rule
D) Ledger-level rule

Solutions: