Exam Name: Oracle Financials Cloud: General Ledger 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
Over 57018+ Satisfied Customers
Oracle Financials Cloud: General Ledger 2019 Implementation Essentials: 1Z1-1054 Exam
"Oracle Financials Cloud: General Ledger 2019 Implementation Essentials", also known as 1Z1-1054 exam, is a Oracle Certification. With the complete collection of questions and answers, iPassleader has assembled to take you through 78 Q&As to your 1Z1-1054 Exam preparation. In the 1Z1-1054 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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- Updated on: Oct 15, 2026
- No. of Questions: 78 Questions & Answers
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- Updated on: Oct 15, 2026
- No. of Questions: 78 Questions & Answers
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Oracle 1Z1-1054 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2019 Implementation Essentials |
| Exam Number: | 1Z0-1054 |
| Available Languages: | English |
| Exam Duration: | 120 minutes |
| Exam Price: | $245 USD |
| Related Certifications: | Oracle Financials Cloud: Payables Implementation Essentials Oracle Financials Cloud: Receivables Implementation Essentials |
| Passing Score: | 65-68% |
| Certificate Validity Period: | 2 years |
| Exam Format: | Multiple Choice, Multiple Response |
| Real Exam Qty: | 60-70 |
| Recommended Training: | Oracle Financials Cloud Training |
| Exam Registration: | Oracle Certification Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored or test center exam via Oracle Certification Platform |
| Pre Condition: | Basic knowledge of accounting principles and Oracle Financials Cloud navigation is recommended. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1Z1-1054 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Chart of Accounts | - Segment structure design
|
| Enterprise Structures and Setup | - Ledger Configuration
|
| Journal Processing | - Journal creation and approval
|
| Subledger Accounting Integration | - Accounting rules configuration
|
| Security and Configuration | - GL security model
|
| Period Close Process | - Close activities
|
| Reporting and Analysis | - Financial reporting tools
|
Oracle Financials Cloud: General Ledger 2019 Implementation Essentials: Frequently Asked Questions
The 1Z1-1054 exam leads to the Oracle Financials Cloud Implementation Professional certification from Oracle. It is positioned at the Professional level. The exam validates the knowledge and skills expected of candidates preparing for Oracle Financials Cloud: General Ledger 2019 Implementation Essentials.
Related certifications include:
- Oracle Financials Cloud: Payables Implementation Essentials
- Oracle Financials Cloud: Receivables Implementation Essentials
The 1Z1-1054 exam includes 60-70 questions and allows 120 minutes. Before test day, divide the available time by the number of questions in a timed practice set to establish a steady per-question pace. If a difficult item starts consuming too much time, mark it for review and move forward instead of losing momentum. A full timed practice session can help you decide when to move on, when to return, and how much buffer to reserve for a final check.
The passing score for 1Z1-1054 is 65-68%, and the official exam fee is $245 USD. Because a retake requires paying the exam fee again, use timed practice results as a readiness check before scheduling your next attempt. If your performance remains inconsistent, continue reviewing weak domains and repeat a timed session before booking the exam.
Basic knowledge of accounting principles and Oracle Financials Cloud navigation is recommended.
Eligibility rules can change, so confirm the current requirements on the official exam page before registering.
You can register through the official channels listed below:
The available exam delivery method is Online proctored or test center exam via Oracle Certification Platform.
The official training options include:
After reviewing the recommended training, reinforce what you learned with iPassleader's 78 practice questions for 1Z1-1054.
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The current 1Z1-1054 outline is organized into 7 top-level domains. The first listed areas include:
- Journal Processing
- Subledger Accounting Integration
- Security and Configuration
Review the Exam Topics section above for the complete outline and any nested subtopics.
Oracle Financials Cloud: General Ledger 2019 Implementation Essentials Sample Questions:
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)
- A. Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions
- B. Define Journal Conversion Rules that exclude subledgers
- C. Assign a Subledger Accounting Method to the secondary ledger
- D. Define Supporting References with balances
- E. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
Correct Answer: A,C 🗳️
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
- B. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
- C. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
- D. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
Correct Answer: C 🗳️
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)
- A. General Accountant Manager
- B. Business Intelligence Administrator (BI Admin)
- C. Financial Analyst
- D. Controller
- E. General Accountant
Correct Answer: A,B,C 🗳️
All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program
- B. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.
- C. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.
- D. Use Oracle Hyperion Financial Management for this type of complex consolidation.
Correct Answer: A 🗳️
You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?
- A. Funds available will change when the invoice is approved
- B. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD
100 - C. The budget will increase by USD 100 and the funds available will decrease by USD 100
- D. The budget and funds available will increase by USD 100
Correct Answer: B 🗳️
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