Oracle Financials Cloud: General Ledger 2021 Implementation Essentials: 1Z0-1054-21 Exam

"Oracle Financials Cloud: General Ledger 2021 Implementation Essentials", also known as 1Z0-1054-21 exam, is a Oracle Certification. With the complete collection of questions and answers, ExamcollectionPass has assembled to take you through 136 Q&As to your 1Z0-1054-21 Exam preparation. In the 1Z0-1054-21 exam resources, you will cover every field and category in Oracle Financials Cloud Certification helping to ready you for your successful Oracle Certification.

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  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
  • Certification Provider: Oracle
  • Corresponding Certification: Oracle Financials Cloud
  • Updated: Jul 30, 2026
  • No. of Questions: 136 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

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

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

                                  1. What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose Two)

                                  A) Integrating with third-party systems is easier because the Essbase cube provides chart of Accounts mapping rules.
                                  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.


                                  2. Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

                                  A) Every journal where debits do not equal credits across the three balancing segments will need
                                  B) Additional intercompany rules will need to be defined for the two additional balancing segment
                                  C) Additional intercompany balancing and clearing options will need to be defined. Z
                                  D) When entering journals manually, the customer will need to make sure that debits and credits


                                  3. Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority. What should be implemented for this type of security?

                                  A) Segment Value Security
                                  B) Data Access Sets
                                  C) Role-Based Access
                                  D) Cross-Validation Rules


                                  4. You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business Units, and Account Hierarchies. Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?

                                  A) chart of account values, accounting calendar, and ledger
                                  B) Banks, Bank Accounts, and Branches
                                  C) complete Accounting Configuration
                                  D) setup data for Receivables and Payables product
                                  E) Suppliers and Customers


                                  5. Your Company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers, You can typically map segments between your general Ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department and Account to Account. What happens to segments in your source general ledger, such as Program, that cannot be mapped Hyperion Financial Management?

                                  A) No Data is Transferred.
                                  B) Data is summarized across segments that are not mapped to Hyperion Financials Management.
                                  C) Errors occur for unmapped segments, you must map multiple segments from source general ledgers to the target segments in Hyperion Financial Management
                                  D) The unmapped segments default to future use segments in Hyperion Financial Management.


                                  Solutions:

                                  Question # 1
                                  Answer: B,D
                                  Question # 2
                                  Answer: A,C
                                  Question # 3
                                  Answer: A
                                  Question # 4
                                  Answer: A,B,E
                                  Question # 5
                                  Answer: C

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