Oracle 1z0-1054-22 Certification All-in-One Exam Guide Apr-2024
Get Real 1z0-1054-22 Exam Dumps [Apr-2024] Practice Tests
Oracle 1z0-1054-22 exam is a challenging certification that requires candidates to have a deep understanding of financial management and accounting principles. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification can help professionals demonstrate their ability to work with complex financial data and information, and it can also help them demonstrate their ability to manage financial operations effectively.
NEW QUESTION # 53
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. You can create, update, and delete account rules for a chart of accounts mapping.
- C. You can download the template only from the Manage Chart of Accounts Mappings page.
- D. It supports external integration using REST services.
Answer: A,B
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 # 54
The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?
- A. Journal Batch
- B. Journal Category
- C. Journal Source
- D. Journal Description
Answer: C
Explanation:
The Journal Source attribute is used to set the automatic posting criteria for journals from subledgers. You can specify whether to post journals automatically or manually based on their source, such as Payables, Receivables, or Projects4.
NEW QUESTION # 55
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. Sunburst reports
- B. Account Inspector
- C. Smart View
- D. Account Monitor
- E. Online Transactional Business Intelligence
Answer: B,C,D
Explanation:
The three features that facilitate interactive analysis of General Ledger balances with the ability to drill down to originating transactions are Account Inspector, Account Monitor, and Smart View. Account Inspector is a tool that allows you to select an account or an account group and view its balance and components, such as subledger details, journal lines, and supporting references. You can also drill down to the underlying transactions and subledger applications. Account Monitor is a tool that allows you to monitor key account balances in real time and compare them to predefined thresholds. You can also drill down to the underlying transactions and subledger details. Smart View is an Excel add-on that allows you to view and analyze financial data from General Ledger Cloud using Essbase cubes. You can also drill down from summary balances to journal details and subledger transactions. Sunburst reports are not a feature that facilitates interactive analysis of General Ledger balances with the ability to drill down to originating transactions, as they are graphical reports that show data distribution across different dimensions and hierarchies, but do not provide drill down capabilities. Online Transactional Business Intelligence (OTBI) is not a feature that facilitates interactive analysis of General Ledger balances with the ability to drill down to originating transactions, as it is a reporting tool that allows you to create custom reports using real-time transactional data from various sources, but does not provide drill down capabilities. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 56
You are trying to run a Financial Reporting Web Studio report from Financial Reporting Center. However, it is not appearing as a choice.
Which are two reasons for this? (Choose two.)
- A. You have not saved it in the MyFolders directory.
- B. You have not uploaded it to Financial Reporting Center.
- C. You have not saved it in the Shared Folder/Custom/Financials directory.
- D. You have not downloaded the report to your local drive.
Answer: A,B
Explanation:
According to Oracle documentation, two reasons why a Financial Reporting Web Studio report may not appear as a choice in Financial Reporting Center are: You have not saved it in the Shared Folder/Custom/Financials directory, and you have not uploaded it to Financial Reporting Center. Financial Reporting Web Studio enables you to design and generate reports with grids, charts, images, and text boxes using data from various sources. Financial Reporting Center enables you to access and run all types of reports from a single user interface. To make a Financial Reporting Web Studio report available in Financial Reporting Center, you must save it in the Shared Folder/Custom/Financials directory and upload it to Financial Reporting Center using Workspace. Therefore, options A and C are correct. Option B is incorrect because saving it in the MyFolders directory does not make it available in Financial Reporting Center. Option D is incorrect because downloading it to your local drive does not make it available in Financial Reporting Center.
NEW QUESTION # 57
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
- B. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
- C. Each product has its own Intercompany Accounting feature that needs to be set up separately
- D. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
Answer: A,B
Explanation:
Intercompany Balancing Rules are used to automatically create balancing entries for intercompany transactions that span different ledgers or legal entities within a ledger. They are defined centrally in the Manage Intercompany Balancing Rules task and can be applied across Financials and Project Portfolio Management products. Intercompany Balancing Rules can also be used to balance single-ledger intercompany journals that have different balancing segment values for the debit and credit lines. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 12
NEW QUESTION # 58
Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)
- A. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
- B. You must map legal entities to balancing segment values in order to use a clearing company
- C. Clearing companies are not supported
- D. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
- E. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
Answer: A,D,E
NEW QUESTION # 59
You want to automatically post journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria? (Choose two.)
- A. Create your AutoPost criteria using minimal sources and categories
- B. Include all of your subledger sources in the AutoPost CriteriA. Divide up criteria sets by subledger source only if you need to schedule different posting times
- C. Schedule your AutoPost Criteria set to run during off-peak hours only
- D. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
Answer: B,D
NEW QUESTION # 60
You are defining an income statement report using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?
- A. Drill Down in Report Functions
- B. Drill Through in Grid Properties
- C. Nothing. All report are drillable
- D. Allow Expansion in Report Functions
Answer: A
Explanation:
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NEW QUESTION # 61
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).
- A. Oracle Financial Statement Generator
- B. Smart View
- C. Financial Reporting Center
- D. Financial Reporting Studio
Answer: C,D
Explanation:
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NEW QUESTION # 62
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
- A. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
- B. Cloud customers can use both OTBI and OBIA
- C. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
- D. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
- E. OTBI allows you to create custom reports from real-time transactional data against the database directly
Answer: A,D,E
NEW QUESTION # 63
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
- B. Each product has its own Intercompany Accounting feature that needs to be configured separately.
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
- D. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
Answer: B,C
Explanation:
According to Oracle documentation1, the following statements are true regarding intercompany accounting for Financials Cloud, Projects, Inventory, and SCM: Each product has its own Intercompany Accounting feature that needs to be configured separately, and Intercompany Balancing Rules are defined centrally and applied across Financials and Projects. Intercompany accounting is the process of recording transactions between related entities within an enterprise or between groups in the same legal entity. Each product has its own Intercompany Accounting feature that enables you to create, process, and reconcile intercompany transactions. Intercompany Balancing Rules are used to generate balancing entries for journals that are out of balance by legal entity or primary balancing segment values. Intercompany Balancing Rules are defined in General Ledger and applied across Financials and Projects. Therefore, options A and C are correct. Option B is incorrect because Intercompany Balancing Rules are not used to balance cross-ledger allocation journals. Option D is incorrect because Intercompany balancing rules in General Ledger do not need to be mapped with the intercompany configuration in each product.
NEW QUESTION # 64
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. Aging Reports
- C. Account Analysis Reports
- D. an Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances
Answer: C
NEW QUESTION # 65
After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable "Limit a Journal to a Single Currency"? (Choose two.)
- A. Ledger options
- B. Profile option
- C. Journal sources
- D. Journal category
- E. Journal lookup codes
Answer: A,C
Explanation:
To achieve the requirement of only single currency journals being entered for this company, you should enable "Limit a Journal to a Single Currency" on both ledger options and journal sources. Ledger options are settings that apply to a specific ledger, such as journal processing options, currency options, and average balance processing options. Journal sources are identifiers that indicate where a journal originated, such as manual entry, subledger accounting, or import. You can enable "Limit a Journal to a Single Currency" on both ledger options and journal sources using the Specify Ledger Options and Manage Journal Sources tasks in Setup and Maintenance. This will enforce single currency journals for journals entered on the Create Journal page and for journals that are imported. You do not need to enable "Limit a Journal to a Single Currency" on journal lookup codes, as these are codes that indicate the status of a journal, such as Entered, Posted, or Reversed. You do not need to enable "Limit a Journal to a Single Currency" on journal category, as this is an attribute that classifies journals by purpose or function, such as Purchase Invoices or Allocations. You do not need to enable "Limit a Journal to a Single Currency" on profile option, as this is a setting that affects the behavior of an application or feature for a user or responsibility. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12
NEW QUESTION # 66
Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/19 was recorded for a purchase order.
The invoice was entered on 5/5/19, but the invoice accounting date was 4/20/19. The encumbrance journal for liquidating the purchase order encumbrance is dated 5/5/19.
What is causing this?
- A. The subledger accounting option is set to system date
- B. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
- C. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
- D. The system date was set up under the encumbrance accounting Default Date Rule
- E. The actual accounting date was set up under the encumbrance accounting Default Date Rule
Answer: B
NEW QUESTION # 67
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 one, enable control at purchasing and define the exceptions to only include requisitioning
- B. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- C. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- D. Define budgetary control at ledger level and only encumbrance control at the business units
- E. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- F. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
Answer: B,E
NEW QUESTION # 68
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 the US ledger.
- B. 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.
- C. 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.
- D. You should assign a balancing segment value to identify each legal entity in each ledger.
Answer: C
NEW QUESTION # 69
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