VALID 1z0-1054-24 Exam Dumps For Certification Exam Preparation
1z0-1054-24 Dumps PDF 2025 Strategy Your Preparation Efficiently
Oracle 1z0-1054-24 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
NEW QUESTION # 52
You are using Oracle General Ledger (GL), Oracle Payables, and Oracle Receivables and you want to prevent the closure of the GL period if the corresponding subledger period is not closed. How do you achieve this?
- A. Set the relevant option on the Specify Ledger Options page.
- B. You don't have to do anything; this option is enabled automatically.
- C. Opt in to the Prevent Period Close option for the offering.
- D. Set the ORA_GLJNCLD_STRICT_PRD_CLOSE profile option to yes.
Answer: A
Explanation:
You can prevent the closure of a General Ledger accounting period if the accounting period for any of the corresponding subledgers is still open, or if incomplete accounting entries or transactions exist for the period.
This can help ensure an effective period close process that validates all transactions are complete and aren't held up during the close. To enable this feature, you need to set the relevant option on the Specify Ledger Options page for each primary ledger. The option is called Prevent General Ledger Period Closure When Open Subledger Periods Exist and it is located in the Period Close section. You can also specify which subledgers to include or exclude from the validation, except for Assets, which is automatically excluded by default. References:
* How to Prevent a General Ledger Period from Closing When Open Subledger Periods Exist
* Period Close Components
* Review: Prevent General Ledger Period Closure When Open Subledger Periods Exist
NEW QUESTION # 53
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. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
- D. Each product has its own Intercompany Accounting feature that needs to be configured separately.
Answer: C,D
Explanation:
According to Oracle documentation1, the following statements are true regarding intercompany accounting for Financials Cloud, Projects, Inventory, and SCM: Each product has its own Intercompany Accounting feature that needs to be configured separately, and Intercompany Balancing Rules are defined centrally and applied across Financials and Projects. Intercompany accounting is the process of recording transactions between related entities within an enterprise or between groups in the same legal entity. Each product has its own Intercompany Accounting feature that enables you to create, process, and reconcile intercompany transactions. Intercompany Balancing Rules are used to generate balancing entries for journals that are out of balance by legal entity or primary balancing segment values. Intercompany Balancing Rules are defined in General Ledger and applied across Financials and Projects. Therefore, options A and C are correct. Option B is incorrect because Intercompany Balancing Rules are not used to balance cross-ledger allocation journals.
Option D is incorrect because Intercompany balancing rules in General Ledger do not need to be mapped with the intercompany configuration in each product.
NEW QUESTION # 54
You are using the Create Budgets in a Spreadsheet option to load your budget balances into the General Ledger balances cube. Your FYXX Budget is not appearing in the Budget Name list of values.
What are two reasons for this?
- A. Budgeting is not enabled in the Ledger options.
- B. A value for the budget scenario is not created.
- C. Transfer Budget Balances to Budget Cubes has not been run.
- D. The Create Scenario Dimension Members program has not been run.
- E. Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.
Answer: B,D
Explanation:
To use the Create Budgets in a Spreadsheet option, you need to have a budget scenario value and a scenario dimension member for your budget. A budget scenario value is a user-defined value that identifies a budget, such as FYXX Budget. A scenario dimension member is a member of the scenario dimension in the General Ledger balances cube that corresponds to a budget scenario value, such as FYXX_Budget. You can create budget scenario values and scenario dimension members using the Manage Budget Scenario Values task or the Create Scenario Dimension Members program. If you do not create these values and members, your budget will not appear in the Budget Name list of values in the spreadsheet. Therefore, the two reasons for your issue are:
* A value for the budget scenario is not created: You need to create a budget scenario value for your budget using the Manage Budget Scenario Values task. This task enables you to define and maintain budget scenario values and their attributes, such as description, start date, end date, and status. You can also specify whether the budget scenario value is enabled for budgeting and reporting. You need to enable the budget scenario value for budgeting to use it in the spreadsheet.
* The Create Scenario Dimension Members program has not been run: You need to run the Create Scenario Dimension Members program to create scenario dimension members for your budget scenario values. This program automatically creates scenario dimension members for all budget scenario values that are enabled for budgeting and do not have existing scenario dimension members. You can run this program manually or schedule it to run periodically. You need to run this program after you create or update budget scenario values to ensure that they are reflected in the scenario dimension.
References:
* Create Budgets in a Spreadsheet
* Manage Budget Scenario Values
* Create Scenario Dimension Members
NEW QUESTION # 55
You are planning to create an Income Statement using Smart View.
Which Smart View tool should you use for this?
- A. Ad Hoc Analysis
- B. Smart Slices
- C. Smart Queries
- D. Query Designer
Answer: A
Explanation:
To create an Income Statement using Smart View, you should use Ad Hoc Analysis. Ad Hoc Analysis is a Smart View tool that allows users to view and analyze financial data from General Ledger Cloud using Essbase cubes. Users can create reports such as Income Statements or Balance Sheets by selecting dimensions and members from Essbase cubes and retrieving data into Excel worksheets. Users can also perform actions such as drilling down, pivoting, zooming in or out, or expanding or collapsing members
NEW QUESTION # 56
Which two statements are true regarding the Translation process? (Choose two.)
- A. The Translation process can only be used to translate balance sheet accounts.
- B. Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.
- C. The Translation process can only be used for translating the balances of Secondary ledgers.
- D. If necessary, before submitting the Translation process, the Revaluation process should be completed.
- E. The Translation process should be run before posting Period Close adjustment entries.
Answer: B,D
Explanation:
According to Oracle documentation1, the following statements are true regarding the Translation process:
Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account, and if necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process enables you to translate balances from one currency to another for reporting purposes.
The Translation process calculates any difference between the translated balance and the entered balance and posts it to the Cumulative Translation Adjustment account. The Revaluation process enables you to adjust balances denominated in foreign currencies to reflect current exchange rates. The Revaluation process should be completed before the Translation process to ensure that the balances are accurate. Therefore, options A and B are correct. Option C is incorrect because the Translation process should be run after posting Period Close adjustment entries. Option D is incorrect because the Translation process can be used for translating the balances of primary ledgers, secondary ledgers, and reporting currencies. Option E is incorrect because the Translation process can be used to translate both balance sheet accounts and income statement accounts.
NEW QUESTION # 57
Your customer has a number of Chart of Account Mapping Rules for their Primary and Secondary ledgers.
You decide to use the FBDI template to load the rules.
Which two statements are true when using this method of entry? (Choose two.)
- A. You can create, update, and delete account rules for a chart of accounts mapping.
- B. You can create, update, and delete segment rules for a chart of accounts mapping.
- C. It supports external integration using REST services.
- D. You can download the template only from the Manage Chart of Accounts Mappings page.
Answer: A,B
Explanation:
According to Oracle documentation3, when using FBDI template to load Chart of Account Mapping Rules for their Primary and Secondary ledgers, you can create, update, and delete account rules for a chart of accounts mapping, and you can create, update, and delete segment rules for a chart of accounts mapping. FBDI enables you to import chart of accounts mapping rules from a spreadsheet template into General Ledger. You can use FBDI to manage both account rules and segment rules for a chart of accounts mapping. Therefore, options C and D are correct. Option A is incorrect because you can download the template from other pages besides the Manage Chart of Accounts Mappings page. Option B is incorrect because FBDI does not support external integration using REST services.
NEW QUESTION # 58
There is a business requirement for a subsidiary company to report to the parent company on a monthly basis.
Given that:
The subsidiary is in another country from the parent.
There is no requirement to have daily balances.
The objective is to minimize the data stored in the reporting currency.
Which data conversion level should you recommend?
- A. Balances Level
- B. Spreadsheet level
- C. Subledger level
- D. Adjustment only level
- E. Journal Level
Answer: A
Explanation:
According to Oracle documentation, when there is a business requirement for a subsidiary company to report to the parent company on a monthly basis with different currencies and no requirement to have daily balances, you should recommend Balance level as the data conversion level. A Balance level data conversion level enables you to translate balances from one currency to another at month-end or quarter-end for reporting purposes. A Balance level data conversion level minimizes the data stored in the reporting currency because it does not store daily balances or journal details. Therefore, option D is correct. Option A is incorrect because a Subledger level data conversion level stores daily balances and journal details in the reporting currency.
Option B is incorrect because a Journal Level data conversion level stores journal details in the reporting currency. Option C is incorrect because an Adjustment only level data conversion level does not translate balances from one currency to another. Option E is incorrect because a Spreadsheet level data conversion level does not exist.
NEW QUESTION # 59
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. Users have very little control configuring their Springboards and Work Areas; they can only resize columns
- B. They can use "+" under the Apps section of the News Feed homepage
- C. They can format certain tables by hiding and showing columns, moving columns, and resizing columns
- D. They can have the System Administrator configuring pages for them using Page Composer
Answer: B,C
Explanation:
According to Oracle documentation2, your users can personalize the Springboards and Work Areas to suit their individual working styles in these two ways: They can format certain tables by hiding and showing columns, moving columns, and resizing columns, and they can use "+" under the Apps section of the News Feed homepage. Springboards and Work Areas are user interface components that enable users to access tasks and information relevant to their roles. Users can customize these components by adding or removing tiles, changing layouts, filtering data, and formatting tables. Therefore, options A and D are correct. Option B is incorrect because users have more control over configuring their Springboards and Work Areas than just resizing columns. Option C is incorrect because users do not need to have the System Administrator configuring pages for them using Page Composer.
NEW QUESTION # 60
You notice that a lot of erroneous address data is being saved. How do you ensure that only valid addresses are entered in the system?
- A. Redefine the location structure.
- B. Define the Geography Validation for Country option to Error.
- C. Redefine the geography hierarchy.
- D. Define the Geography Validation for Country option to No Validation.
Answer: B
Explanation:
Geography validation is a feature that enables you to validate the address information entered for a location against the geography hierarchy defined for a country. You can set the Geography Validation for Country option to one of the following values:
* No Validation: No validation is performed on the address information.
* Warning: A warning message is displayed if the address information does not match the geography hierarchy, but the user can still save the address.
* Error: An error message is displayed if the address information does not match the geography hierarchy, and the user cannot save the address until the error is corrected. To ensure that only valid addresses are entered in the system, you should set the Geography Validation for Country option to Error. This will prevent users from saving erroneous address data and enforce data quality and accuracy. References:
* Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation, Chapter 2: Define Geographies, Section: Geography Validation
* Oracle Financials Cloud: Implementing Enterprise Structures and General Ledger, Chapter 2: Define Geographies, Section: Geography Validation
NEW QUESTION # 61
What are two uses of the Column Flattening and Row Flattening features? (Choose two.)
- A. Optimize parent/child relationships.
- B. Verify correctness of trees.
- C. Create additional versions of a tree.
- D. View information for runtime performance.
- E. Set the status of a tree to active.
Answer: B,E
Explanation:
The two uses of the Column Flattening and Row Flattening features are to set the status of a tree to active and to verify correctness of trees. Column Flattening and Row Flattening are features that optimize parent-child information for run-time performance by storing additional rows or columns in a table for instantly finding all descendants or ancestors of a node without initiating a recursive query. Column Flattening and Row Flattening are required to set the status of a tree to active, as they ensure that the tree data is consistent and accurate. Column Flattening and Row Flattening are also useful to verify correctness of trees, as they allow users to view and analyze the flattened hierarchy data using various tools such as Oracle Analytics Publisher or Oracle Transactional Business Intelligence. You do not use Column Flattening and Row Flattening to create additional versions of a tree, as this is a feature that allows users to copy an existing tree version and make changes to it without affecting the original version. Youdo not use Column Flattening and Row Flattening to view information for runtime performance, as this is a feature that allows users to monitor and measure the performance of various processes or tasks in Oracle Fusion Applications. You do not use Column Flattening and Row Flattening to optimize parent/child relationships, as this is a feature that allows users to define rules and constraints for how nodes can be related to each other in a tree structure. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 1
2
NEW QUESTION # 62
You need to integrateFusion Accounting Hubwithexternal source systemsused forBilling. Identify the step that isnot correctwhen implementing this integration.
- A. Analyze external system transactions.
- B. Determine the accounting impact of transactions.
- C. Capture accounting events.
- D. Create the accounting in the source system and then import the journal entries into subledger accounting.
Answer: D
NEW QUESTION # 63
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. Secondary ledger with the IFRS accounting convention
- B. Primary ledger with the local accounting convention
- C. Reporting currency with the local accounting convention
- D. Reporting currency with the IFRS accounting convention
- E. Primary ledger with the IFRS accounting convention
Answer: A,B
Explanation:
A primary ledger is the main ledger for a legal entity or business unit that records all accounting transactions and maintains the accounting balances. A secondary ledger is an optional ledger that is associated with a primary ledger and maintains accounting balances in a different accounting representation. A reporting currency is an optional currency that is associated with a primary ledger and maintains accounting balances in a different currency. In this scenario, the subsidiary company needs to produce fiscal reports under local GAAP and local currency, as well as report to the parent company using IFRS and not local currency.
Therefore, the subsidiary company should configure a primary ledger with the local accounting convention and local currency, and a secondary ledger with the IFRS accounting convention and not local currency. A reporting currency with the local accounting convention or the IFRS accounting convention would not meet the requirement, as it would only maintain balances in a different currency, not a different accounting representation. A primary ledger with the IFRS accounting convention would not meet the requirement, as it would not comply with the local GAAP. References:
* Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 2: Ledgers, Primary Ledgers, Secondary Ledgers, and Reporting Currencies
* Oracle Financials Cloud Using General Ledger, Chapter 1: Introduction, Ledgers and Subledgers, Primary Ledgers, Secondary Ledgers, and Reporting Currencies
NEW QUESTION # 64
On a primary ledger in Use system options close section, the following field has been selected:
'Prevent General Ledger Period Close When Open Subledger Periods Exist'.
What three exceptions will prevent closing of the accounting period?
- A. Pending Transaction in General Ledger Interface
- B. Intercompany Transactions are completed
- C. Pending Intercompany Transactions
- D. No pending transaction in the General Ledger Interface table
Answer: A,B,C
NEW QUESTION # 65
InFinancial Cloud, which three reporting tools can be used to accessGeneral Ledger balances?
- A. Smart View
- B. Oracle Enterprise Repository
- C. Financial Reporting Studio
- D. Application Composer
- E. Oracle Transactions Business Intelligence
Answer: A,C,E
NEW QUESTION # 66
You want to automatically post journal batches imported from subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger.
Which two aspects should you consider when defining your AutoPost Criteria?
- A. Create your AutoPost criteria using minimal sources and categories.
- B. Include all of your subledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times.
- C. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process.
- D. Schedule your AutoPost Criteria set to run during off-peak hours only.
Answer: B,C
NEW QUESTION # 67
Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.
Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.
Answer:
Explanation:
See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
* In the Setup and Maintenance work area, go to the following:
* Offering: Financials
* Functional Area: Financial Reporting Structures
* Task: Manage Shorthand Aliases
* Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
* Click on the Add Row icon to create a new alias. Enter the following information:
* Alias Name: RevDom
* Account Template: 101-2000-400000-000-000-000
* Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center
* Enabled: Yes
* Start Date: Today's date
* End Date: Blank
* Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
* Account Aliases
* Enter a GL Account Alias
* Short Hand Alias in Fusion Financials Key Flexfield
* How to Enable Account Shorthand Aliases
NEW QUESTION # 68
When creating your financial statements, you want a chart such as a bar graph to be included in the report output. Which two reporting tools allow you to achieve this?
- A. Smart View
- B. Financial Reporting Studio
- C. Financial Statement Generator
- D. Account Inspector
Answer: A,B
Explanation:
Smart View and Financial Reporting Studio are two reporting tools that allow you to create and include charts such as bar graphs in your financial statements. Smart View is a multidimensional pivot analysis tool that enables you to interactively analyze your balances and define reports using a familiar spreadsheet environment. You can also insert charts and graphs to visualize your data. Financial Reporting Studio is a tool that lets you design and format financial reports using data from the Oracle General Ledger balances cube.
You can also add charts and graphs to enhance your reports and display data trends. References:
* Overview of Financial Reporting Center, Oracle Cloud Applications Financials 23B, https://docs.oracle.
com/en/cloud/saas/financials/23b/faiah/overview-of-financial-reporting-center.html
* Using Smart View with Oracle Financials Cloud, Oracle Cloud Applications Financials 23B,
https://docs.oracle.com/en/cloud/saas/financials/23b/fasvf/using-smart-view-with-oracle-financials- cloud.html
* Creating Financial Reports, Oracle Cloud Applications Financials 23B, https://docs.oracle.com/en/cloud
/saas/financials/23b/farug/creating-financial-reports.html
NEW QUESTION # 69
You entered across-validation ruleto prevent thebalance sheet cost center (000)from being used withProfit and Loss Accounts (4000-ZZZZ).
The following combinations exist in theCode Combination table:
* 01-000-4110-00
* 01-000-5299-000
* 01-000-5105-000
* 01-000-7640-00
Which two statements aretrueregardingcross-validation rules?
- A. You need to run theCross-Validation Rule Violations processto allow rules to apply to existing combinations that violate rules.
- B. There is no need to create cross-validation rules ifDynamic Combination Creation Allowedis notenabled for your chart of accounts instance.
- C. You need to run theCross-Validation Rules processto list and optionally disable combinations that violate rules.
- D. The rules will validate and apply tonew and existing accounts.
- E. The rules validate and apply tonew accounts only.
Answer: A,D
NEW QUESTION # 70
You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?
- A. Ensure that parent values have the summary attributes set correctly.
- B. Run the Chart of Accounts Deployment process.
- C. Run the Publish Chart of Accounts Dimension Members and Hierarchies program.
- D. Ensure that you do not assign children to child values.
- E. Make sure all users sign out of the calculation manager.
Answer: A,D
NEW QUESTION # 71
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. Trial Balance report
- B. OTBI report
- C. Financial Reporting Web Studio report
- D. Account group
Answer: C
Explanation:
To view high-level profit and loss results for each ledger in the Close Monitor, you need to associate a Financial Reporting Web Studio report with the ledger set. This report should be based on the General Ledger Balances cube and should include the Income Statement accountgroup as a row dimension. The report should also have the ledger set as a point of view dimension and the period and currency as user prompts. This way, you can select the ledger set, period, and currency when you run the report from the Close Monitor and see the aggregated income statement results for each ledger and consolidation node in the ledger set hierarchy. References: Overview of Close Monitor, Using General Ledger, Close Monitor Issue
NEW QUESTION # 72
When constructing a new chart of accounts instances, it has been decided to control the list of values within certain segments, with the use of related value sets.
When defining new related value sets, which three configuration steps should be considered?
- A. Link two value sets together
- B. Order of the segments does not determine filtering sequence.
- C. Link multiple value sets together
- D. Order of the segments determines filtering sequence
- E. Use table validated type value sets only
- F. Use independent validation type value sets only
Answer: A,D,F
NEW QUESTION # 73
......
Latest Verified & Correct 1z0-1054-24 Questions: https://www.ipassleader.com/Oracle/1z0-1054-24-practice-exam-dumps.html
100% Pass Guaranteed Download Oracle Financials Cloud Exam PDF Q&A: https://drive.google.com/open?id=1bKz3nY1WDV5CPvbNuSszaF2AVg1hd5pQ