Oracle Financials Cloud: General Ledger 2023 Implementation Professional: 1z0-1054-23 Exam

"Oracle Financials Cloud: General Ledger 2023 Implementation Professional", also known as 1z0-1054-23 exam, is a Oracle Certification. With the complete collection of questions and answers, ExamcollectionPass has assembled to take you through 52 Q&As to your 1z0-1054-23 Exam preparation. In the 1z0-1054-23 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: 1z0-1054-23
  • Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
  • Certification Provider: Oracle
  • Corresponding Certification: Oracle Financials Cloud
  • Updated: Sep 13, 2026
  • No. of Questions: 52 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionObjectives
Ledger Configuration- Ledger Management
  • 1. Configure primary and secondary ledgers
  • 2. Set up reporting currencies
  • 3. Manage ledger options and balancing segments
Journal Processing- Journal Management
  • 1. Create and manage journal entries
  • 2. Manage recurring and automated journals
  • 3. Configure journal approval workflows
Budgeting and Allocations- Financial Planning
  • 1. Manage allocations
  • 2. Configure budgets
  • 3. Monitor budgetary control
Intercompany Accounting- Intercompany Processing
  • 1. Manage intercompany transactions
  • 2. Configure intercompany balancing rules
  • 3. Perform reconciliation activities
Security and Data Access- Access Management
  • 1. Manage user roles and privileges
  • 2. Configure data access sets
  • 3. Implement security controls
Enterprise Structure and General Ledger Setup- Enterprise Configuration
  • 1. Define chart of accounts structures
  • 2. Configure accounting calendars
  • 3. Configure business units and legal entities
Period Close and Financial Reporting- Close and Reporting Activities
  • 1. Perform period close processes
  • 2. Generate financial statements and reports
  • 3. Manage accounting periods

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

An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

  • A. Legal entity-level rule
  • B. Primary balancing segment rule
  • C. Chart of accounts rule
  • D. Ledger-level rule
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)

  • A. Hierarchies for reporting and allocations have to be published to Essbase cubes.
  • B. You can have only one version of a hierarchy published to the Essbase cube at any time.
  • C. Child values in these hierarchies can belong to only one parent.
  • D. Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
Reveal Solution  Discussion  0

Correct Answer: B,C  🗳️

Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?

  • A. Nothing, existing historical rates are not updated.
  • B. Historical rates are converted into an average rate (original and new rate).
  • C. The historical rate is replaced.
  • D. The existing historical rate is deleted.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)

  • A. Receipt accounting
  • B. Assets
  • C. Revenue Management
  • D. Receivables
  • E. Order Management
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?

  • A. by using the Manage Cross-Validation Rules page.
  • B. by creating Cross-Validation Rules desktop-integrated spreadsheet.
  • C. by using Cross-Validation Rules Import file-based data import (FBDI).
  • D. by using the Manage General Ledger Security page.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

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