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1z0-1054-22 Free Certification Exam Material with 133 Q&As
NEW QUESTION # 79
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?
- A. Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.
- B. Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.
- C. Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
- D. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
Answer: A
Explanation:
"A chart of accounts segment is a component of the account combination. Each segment has a value set attached to it to provide formatting and validation of the set of values used with that segment." The qualifiers are used to identify the segments for reporting and processing purposes2. In this case, the company segment should be the primary balancing segment, which is used to balance journal entries and create trial balances. The department segment should be the cost center segment, which is used to track costs by organizational units. The natural account segment should be the natural account segment, which is used to classify transactions by account type. The intercompany segment should be the intercompany segment, which is used to identify transactions between different legal entities or business units.
NEW QUESTION # 80
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. revaluations and translation to revalue and translate currencies stored in the Essbase cube
- B. calculation manager to perform allocations based on multidimensional balances and budgets
- C. journal entries and journal approval to create journals that update balances to the cube directly
- D. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
Answer: A
NEW QUESTION # 81
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting.
What is Oracle's recommended method for doing this?
- A. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
- B. Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
- C. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
- D. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
Answer: B
Explanation:
This is the recommended method for creating fully balanced balance sheets for multiple segments. By qualifying the segments as balancing segments, you can ensure that each segment value has a balanced set of asset, liability, and equity accounts. You can also use segment value security rules to restrict access to segment values based on user roles. This method also allows you to use different currencies for each segment value and perform currency translation at the segment level. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Enterprise and Financial Reporting Structures - Define Chart of Accounts Segments 12
NEW QUESTION # 82
Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)
- A. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
- B. Journal entry spreadsheets are not impacted by this new function.
- C. Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
- D. For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
Answer: A,D
NEW QUESTION # 83
While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose two.)
- A. The Account Rule's chart of accounts has no account values assigned
- B. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set
- C. The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set
- D. The Account Rule's conditions are not defined
Answer: B,C
NEW QUESTION # 84
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?
- A. Use Account Inspector
- B. Open a Smart View file saved on your desktop
- C. Perform an account analysis online
- D. Create an Account Group using Account Monitor
Answer: D
Explanation:
The most efficient way to be notified of anomalies in certain account balances in real time is to create an Account Group using Account Monitor. Account Monitor is a tool that allows you to monitor key account balances in real time and compare them to predefined thresholds. You can set up alerts to notify you when an account balance exceeds or falls below a certain percentage or amount. You can also drill down to the underlying transactions and subledger details to investigate the cause of the account anomalies. Using Account Inspector is not an efficient way to be notified of anomalies in certain account balances in real time, as this involves selecting an account or an account group and viewing its balance and components manually. Opening a Smart View file saved
NEW QUESTION # 85
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis? (Choose two.)
- A. Universal Content Management Workspace
- B. Business Process Management Workspace
- C. Scheduled Processes
- D. Reports and Analytics
- E. Enterprise Performance Management Workspace
Answer: D,E
Explanation:
The two options that allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis are Reports and Analytics and Enterprise Performance Management Workspace. Reports and Analytics is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Reports and Analytics from various pages in Oracle Fusion Applications or from Oracle Fusion Cloud Service Console. Enterprise Performance Management Workspace is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Enterprise Performance Management Workspace from Oracle Fusion Cloud Service Console or from a web browser. Universal Content Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to manage documents and other digital content in Oracle Fusion Applications. Business Process Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to monitor and manage business processes in Oracle Fusion Applications. Scheduled Processes is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to submit, monitor, and manage scheduled processes in Oracle Fusion Applications. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 86
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for $300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?
- A. The purchase order is Partially Liquidated and the invoice is Partially Reserved
- B. Both are reserved
- C. The purchase order is Liquidated and the invoice is Partially Reserved
- D. The purchase order is Partially Liquidated and the invoice will be Reserved
- E. The purchase order is Open and the invoice is Validated
- F. Both are Partially Reserved
Answer: A
NEW QUESTION # 87
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. Use Oracle Hyperion Financial Management for this type of complex consolidation.
- B. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.
- C. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
- D. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program
Answer: D
NEW QUESTION # 88
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
- B. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
- C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
- D. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
Answer: D
Explanation:
According to Oracle documentation2, Oracle's recommended approach to easily create eliminating entries for intercompany activity when you have a large number of legal entities is to define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading. Therefore, option A is correct. Option B is incorrect because you do need to define an intercompany segment to easily create eliminating entries for intercompany activity. Option C is incorrect because you don't need to qualify the intercompany segment as the second balancing segment. You only need to qualify it as an intercompany segment. Option D is incorrect because you don't want to track the intercompany trading partner using distinct intercompany receivable/payable natural accounts. You want to use a separate intercompany segment for that purpose.
NEW QUESTION # 89
During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
- A. Create a new chart of accounts.
- B. Delete the segment and create a new segment with the correct qualifier.
- C. Delete the chart of accounts and create a new one.
- D. Change and save the segment qualifier.
Answer: C
NEW QUESTION # 90
In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. They can format each table by hiding and showing columns, moving columns, and resizing columns
- B. Users have very little control their Springboards and Work Areas; they can only resize columns
- C. They can use Personalization to move and remove regions from those pages
- D. They can have the System Administration customize pages for them using Page Composer
Answer: A,C
NEW QUESTION # 91
You want to monitor the close process of all financial subledgers and ledgers.
How can you quickly obtain this information?
- A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
- B. Use Close Monitor in General Accounting Dashboard
- C. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
- D. Run Closing Status reports
Answer: B
Explanation:
To quickly obtain information about the close process of all financial subledgers and ledgers, you should use Close Monitor in General Accounting Dashboard. Close Monitor is a tool that allows you to view the overall status of the close process across different ledgers and subledgers. You can also drill down to view details of each subledger or ledger period status and perform actions such as opening or closing periods. You do not need to use the Manage Accounting Periods page to view the status of all subledgers and ledgers, as this page only shows the status of one ledger at a time. You do not need to access each subledger's calendar and General Ledger's Manage Accounting Periods page to view the status of each period, as this is a time-consuming and inefficient way to obtain information. You do not need to run Closing Status reports, as these reports only show the status of one ledger at a time and do not provide drill down or action capabilities. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Period Close Components 12
NEW QUESTION # 92
Your customer has a number of Chart of Account Mapping Rules for their Primary and Secondary ledgers. You decide to use the FBDI template to load the rules.
Which two statements are true when using this method of entry? (Choose two.)
- A. You can create, update, and delete segment rules for a chart of accounts mapping.
- B. It supports external integration using REST services.
- C. You can download the template only from the Manage Chart of Accounts Mappings page.
- D. You can create, update, and delete account rules for a chart of accounts mapping.
Answer: A,D
Explanation:
According to Oracle documentation3, when using FBDI template to load Chart of Account Mapping Rules for their Primary and Secondary ledgers, you can create, update, and delete account rules for a chart of accounts mapping, and you can create, update, and delete segment rules for a chart of accounts mapping. FBDI enables you to import chart of accounts mapping rules from a spreadsheet template into General Ledger. You can use FBDI to manage both account rules and segment rules for a chart of accounts mapping. Therefore, options C and D are correct. Option A is incorrect because you can download the template from other pages besides the Manage Chart of Accounts Mappings page. Option B is incorrect because FBDI does not support external integration using REST services.
NEW QUESTION # 93
The Create Accounting program could not determine the debit side of the journal entry.
Which component of Subledger Accounting determines the debit or credit side of a journal entry?
- A. Journal Balances Rule
- B. Account Rule
- C. Journal Entry Rule Set
- D. Journal Accounting Rule
- E. Journal Line Rule
Answer: C
NEW QUESTION # 94
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)
- A. The control budget structure has all the chart of account segments as budget segments
- B. Control budgets are always absolute to generate encumbrance accounting
- C. A control budget can be associated with a different calendar than accounting calendar
- D. A control budget can allow override rules only if the control level is absolute
- E. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
Answer: B,C,D
NEW QUESTION # 95
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 layout Template
- B. The Data Model
- C. Output type
- D. The Style Template
- E. The Sub Template
Answer: B,C
Explanation:
To add a global branding logo and more predefined transactional attributes to the journal approval email notification, you should copy (or customize) and edit the layout template and the data model. The layout template is a file that defines the appearance and content of the notification, such as text, images, tables, or charts. The data model is a file that defines the data sources and queries that provide data for the notification, such as predefined transactional attributes. You can copy (or customize) and edit the layout template and the data model using Oracle Analytics Publisher reports. You do not need to copy (or customize) and edit the output type, as this is a setting that determines the format of the notification output, such as HTML or PDF. You do not need to copy (or customize) and edit the style template, as this is a file that defines the styles and formatting of the notification elements, such as fonts, colors, or margins. You do not need to copy (or customize) and edit the sub template, as this is a file that contains reusable content or logic that can be referenced by multiple layout templates. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Workflow Approvals and Notifications 12
NEW QUESTION # 96
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
- B. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
- C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
- D. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
Answer: D
NEW QUESTION # 97
You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)
- A. You can create a rule for all sources and categories by selecting the source "Other" and the category "Other".
- B. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
- C. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
- D. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
Answer: A,D
Explanation:
you can define intercompany balancing rules at various levels, such as primary balancing segment, legal entity, ledger, and chart of accounts. The rules are evaluated in the order shown, so the primary balancing segment rule has the highest precedence and the chart of accounts rule has the lowest precedence. Therefore, option B is correct. You can also create a rule for all sources and categories by selecting the source "Other" and the category "Other"1. Therefore, option A is correct. Option C is incorrect because you don't need to define rules for every combination of specific categories and sources. If no rule is found for a specific combination, then the rule for all sources and categories is used1. Option D is incorrect because you don't need to set up a chart of accounts rule for every chart of accounts structure. You can set up a rule for a specific chart of accounts or for all charts of accounts1.
NEW QUESTION # 98
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
- A. Journal Entry Rule Set
- B. Journal Entry
- C. Event Type
- D. Event Class
- E. Journal Line Rule
Answer: E
Explanation:
you can override the default accounting attribute assignment at the journal line rule level. A journal line rule defines how subledger journal lines are created for each event class and event type. Therefore, option C is correct. Option A is incorrect because a journal entry rule set defines how subledger journal entries are created for each event class, not how accounting attributes are assigned. Option B is incorrect because an event type defines a business operation that triggers accounting, not how accounting attributes are assigned. Option D is incorrect because a journal entry defines a set of subledger journal lines that are created for an accounting event, not how accounting attributes are assigned. Option E is incorrect because an event class defines a category of business transactions that have similar accounting impact, not how accounting attributes are assigned.
NEW QUESTION # 99
You want to monitor the close process of all financial subledgers and ledgers.
How can you quickly obtain this information?
- A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
- B. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
- C. Use Close Monitor in General Accounting Dashboard
- D. Run Closing Status reports
Answer: B
NEW QUESTION # 100
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. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- B. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- C. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- D. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- E. Define budgetary control at ledger level and only encumbrance control at the business units
- F. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
Answer: C,D
Explanation:
To enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions for business unit one, you need to enable control at purchasing and define the exceptions to only include requisitioning. This will allow budgetary control to check funds availability only when requisitions are created or modified. To enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions for business unit two, you need to define control to disable control for Requisitioning, Purchasing, and Receiving. This will allow budgetary control to check funds availability only when invoices are created or modified. You do not need to define budgetary control at ledger level with Budgetary Control Exceptions for each business unit, as this is not a supported option. You do not need to enable control at Requisitioning and define the exceptions to only include invoicing for business unit two, as this will not achieve the desired result. You do not need to disable control for Purchasing, Payable Invoicing, and Receiving for business unit one, as this will not achieve the desired result. You do not need to define budgetary control at ledger level and only encumbrance control at the business units, as this is not a supported option. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Budgetary Control 12
NEW QUESTION # 101
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