Real Oracle 1z0-1054-22 Exam Questions [Updated 2023]
1z0-1054-22 Exam Dumps Pass with Updated 2023 Oracle Financials Cloud: General Ledger 2022 Implementation Professional
NEW QUESTION 15
What is the most efficient way to add a new year to the accounting calendar?
- A. Import the periods from a spreadsheet
- B. Use the Add Year button
- C. The application automatically populates the next year when you open the first period of a new fiscal year
- D. Add the periods manually
Answer: B
NEW QUESTION 16
Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which privilege is required to perform the budget transfer?
- A. Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)
- B. Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)
- C. Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)
- D. Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)
Answer: A
NEW QUESTION 17
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount
- B. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice
- C. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
- D. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount
Answer: B,D
NEW QUESTION 18
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
- B. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- C. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
- D. Each product has its own Intercompany Accounting feature that needs to be configured separately
Answer: C,D
NEW QUESTION 19
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)
- A. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- B. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- C. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- D. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- E. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- F. Define budgetary control at ledger level and only encumbrance control at the business units
Answer: A,C
NEW QUESTION 20
Your company has two legal entities in the US (Balancing Segment Values [BSV] 101 and 102), one legal entity in France (BSV 401), and one legal entity in the UK (BSV 402).
Both US legal entities share the same ledger, whereas the UK and France have their own ledgers.
Assuming intercompany transactions are not being entered, what is the minimal action you can take and still configure the ledgers correctly?
- A. You should assign a balancing segment value to identify each legal entity in each ledger.
- B. You should assign a balancing segment value to identify each legal entity in the US ledger.
- C. You should assign a balancing segment value to identify each legal entity in the US Ledger and assign the balancing segment values to the ledger in the UK and France.
- D. You should assign the balancing segment value to the ledger in the US and assign a balancing segment value to identify each legal entity in the UK and France ledgers.
Answer: D
NEW QUESTION 21
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. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period
- D. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
Answer: C
NEW QUESTION 22
You want to enter budget data in General Ledger Cloud. Which method is not supported?
- A. Direct budget balance updates from a Financial Statement in Smart View
- B. File-based Data Import
- C. Application Development Framework Desktop Integration (ADFdi)
- D. Entering budget journals
Answer: D
NEW QUESTION 23
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)
- A. Account Inspector
- B. Smart View
- C. Sunburst reports
- D. Account Monitor
- E. Online Transactional Business Intelligence
Answer: A,B,D
NEW QUESTION 24
You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities.
What type of report will provide this type of information?
- A. Journals Reports
- B. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
- C. Account Analysis Reports
- D. Aging Reports
Answer: C
NEW QUESTION 25
A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency.
There is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to address this reporting requirement? (Choose two.)
- A. a secondary ledger with the IFRS accounting convention
- B. a reporting currency with the local accounting convention
- C. a primary ledger with the IFRS accounting convention
- D. a primary ledger with the local accounting convention
- E. a reporting currency with the IFRS accounting convention
Answer: B,C
NEW QUESTION 26
How can your Accounting Manager expedite journal processing during the time-critical month-end close?
- A. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
- B. by using the Close Status monitor to drill down on the close status across ledgers
- C. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
- D. by running the Journals report using Business Intelligence Publisher
Answer: C
NEW QUESTION 27
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?
- A. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
- B. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
- C. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances
- D. Run Revaluation to translate into Statistical Currency
Answer: B
NEW QUESTION 28
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
- A. Posting performance is much faster
- B. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously
- C. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
- D. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
- E. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
Answer: B,D
NEW QUESTION 29
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. The budget journal spreadsheet
- B. File Based Data Import
- C. Application Developer Framework Desktop Integrator
- D. Enterprise Resource Budget Integrator
Answer: C
NEW QUESTION 30
Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment levels.
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Which two recommendations would you give your customer? (Choose two.)
- A. When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal
- B. Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry
- C. Additional intercompany balancing and clearing options will need to be defined
- D. Additional intercompany rules will need to be defined for the two additional balancing segments
Answer: B,D
Explanation:
https://docs.oracle.com/cd/E25178_01/fusionapps.1111/e20375/F350915AN26721.htm
NEW QUESTION 31
Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)
- A. Run a Business Intelligence Publisher report with Excel as the output format
- B. Detach the table to resize it to the maximum size of the monitor.
- C. Use the Freeze feauture on the tables to scroll through large amounts of data
- D. Export the table to Excel
Answer: B,C
NEW QUESTION 32
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?
- A. Report Functions
- B. Allow Expansion
- C. Nothing. All report balances are drillable in all FR Studio reports
- D. Drill Through in Grid Properties
Answer: D
NEW QUESTION 33
When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.
Which two reporting tools allow you to achieve this? (Choose two.)
- A. Account Inspector
- B. Financial Reporting Studio
- C. Financial Statement Generator
- D. Smart View
Answer: B,D
NEW QUESTION 34
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