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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Security and Configuration- Roles and access
  • 1. Security setup
    - Implementation setup tasks
    • 1. Setup Financials Cloud
      Topic 2: Journal Processing- Journal imports
      • 1. File-based data import (FBDI)
        • 2. Spreadsheet uploads
          - Manual journals
          • 1. Journal creation and approval
            • 2. Recurring journals
              Topic 3: Period Close Process- Close activities
              • 1. Reconciliations
                • 2. Adjustments and accruals
                  - Financial reporting
                  • 1. Trial balance and reports
                    Topic 4: Enterprise Structures and Setup- Ledger configuration
                    • 1. Secondary ledgers
                      • 2. Primary ledger setup
                        - Chart of Accounts
                        • 1. COA structure design
                          • 2. Value sets and segments
                            Topic 5: Subledger Accounting- Accounting rules
                            • 1. Journal line rules
                              • 2. Account derivation rules
                                - Event processing
                                • 1. Accounting events

                                  Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

                                  Question #1

                                  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 conditions are not defined
                                  • B. The Account Rule's Chart of Accounts have no account values assigned
                                  • C. The Account Rule is defined with a different chart of Accounts from the Journal Entry Rule Set.
                                  • D. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C,D  🗳️

                                  Question #2

                                  Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?

                                  • A. integration with transactions from external feeder systems
                                  • B. chart of accounts master data maintenance
                                  • C. cross-validation rules
                                  • D. data access and security
                                  • E. chart of accounts hierarchy maintenance
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B,E  🗳️

                                  Question #3

                                  You need to integrate Fusion Accounting Hub with external source systems used for Billing. Identify the step that is not correct when implementing this integration.

                                  • A. Create the accounting in the source system and then import the journal entries into subledger accounting
                                  • B. Analyze external system transactions
                                  • C. Capture accounting events
                                  • D. Determine the accounting impact of transactions
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Question #4

                                  The general accountant Is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
                                  The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the list of account for the accountant to select in the Suspense Account.
                                  What Is the reason for this?

                                  • A. There Is a primary balancing segment attached to the legal entity of the primary ledger.
                                  • B. The general accountant has a segment value security rule assigned which restricts access to the cost center.
                                  • C. The general accountant does not have the Financials Application administrator role assigned therefore, has view-only privileges on this page. -
                                  • D. A cross validation rule is in place to prevent the resulting combination from being created.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  Question #5

                                  You have exported data from your budgeting application into a .csv file.
                                  What should you use to load that data into General Ledger?

                                  • A. File Based Data Import
                                  • B. The budget journal spreadsheet
                                  • C. Enterprise Resource Budget Integrator
                                  • D. Application Developer Framework Desktop Integrator
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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