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Oracle 1z0-1054-23 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. You are setting up Close Monitor and want to view high-level profit and loss results for each ledger.
What should you associate with the ledger set to achieve this?

A) Account group
B) Trial Balance report
C) OTBI report
D) Financial Reporting Web Studio report

2. When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

A) when the journal is balanced by second balancing segment value
B) when the journal is not balanced by the primary balancing segment value (BSV)
C) when the journal is balanced by the primary BSV but not by second or third BSV
D) when there is a many-to-many journal and you want to use a clearing company

3. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)

A) You have an unrealized exchange loss recorded.
B) You have an unrealized exchange gain recorded.
C) The original journal entry in Euros remains the same.
D) There is no unrealized exchange gain or loss calculated.
E) The original journal entry in Euros is updated.

4. A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

A) Primary ledger with the local accounting convention
B) Reporting currency with the local accounting convention
C) Primary ledger with the IFRS accounting convention
D) Secondary ledger with the IFRS accounting convention
E) Reporting currency with the IFRS accounting convention

5. 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.

Solutions: