Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Budgetary Control and Encumbrance Accounting | - Control Budgets - Encumbrance Accounting - Funds Check Processing - Configure Budgetary Control |
| Topic 2: Configuring Enterprise and Financial Reporting Structures | - Manage Legal Jurisdictions - Manage Legal Authorities and Legal Entities - Manage Ledgers - Manage Geographies - Manage Accounting Calendars - Manage Chart of Accounts - Manage Account Hierarchies |
| Topic 3: Configuring Ledgers | - Manage Ledger Sets - Define Ledger Options - Configure Secondary Ledgers - Configure Reporting Currencies |
| Topic 4: Period Close | - Manage Accounting Periods - Close Monitoring and Reporting - Perform Period Close Activities |
| Topic 5: Journal Processing | - Configure Journal Approval - Create and Manage Journals - Allocation Rules - Recurring Journals - Journal Import and Posting |
| Topic 6: Financial Reporting | - Financial Reporting Studio - Financial Statement Generation - Account Groups and Reports - Smart View Reporting |
| Topic 7: Intercompany Processing | - Process Intercompany Transactions - Intercompany Reconciliation - Configure Intercompany Balancing Rules |
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
How do you hide accounts with no balances showing #Missing in Smart view?
- A. Choose the Suppress Zeros option under Data options.
- B. Use Excel functions to hide rows with #Missing assigned
- C. This indicates a database connection issue. Try to reconnect to Fusion Applications.
- D. Select the Data/Missing check box in the Data Options tab.
Correct Answer: D 🗳️
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. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
- 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. 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
- D. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
Correct Answer: B 🗳️
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets. What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Supporting References
- B. Accounting Date
- C. Journal Line Rules
- D. Account Rules
- E. Chart of Accounts
Correct Answer: A,C,D 🗳️
When creating financial Reports which two tools use data from the General Ledger Balances Cube?
- A. Oracle Financial Statement Generator
- B. Financial Reporting Studio
- C. Financial Reporting Center
- D. Smart view
Correct Answer: B,D 🗳️
Explanation: Only visible for ExamsLabs members. You can sign-up / login (it's free).
How do you hide accounts with no balances showing #Missing in Smart view?
- A. Select the Data/Missing check box in the Data Options tab
- B. Use Excel functions to hide rows with #Missing assigned
- C. Choose the Suppress Zeros option under Data options
- D. This indicates a database connection issue
Correct Answer: A 🗳️
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