[Oct-2023] 1z0-1054-22 Braindumps – 1z0-1054-22 Questions to Get Better Grades
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To become an Oracle Financials Cloud: General Ledger 2022 Implementation Professional, candidates must successfully pass the 1z0-1054-22 certification exam. 1z0-1054-22 exam consists of 60 multiple-choice questions and has a time limit of 105 minutes. Candidates must score at least 63% to pass the exam. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification is ideal for professionals who are responsible for implementing and managing financials for organizations using the Oracle Financials Cloud: General Ledger 2022.
Oracle Financials Cloud: General Ledger 2022 is a comprehensive financial management solution that helps organizations to automate and streamline their financial processes. It offers features such as financial reporting, accounting, and budgeting, which are essential for any modern finance department. The Oracle 1z0-1054-22 exam assesses candidates' knowledge of these features and their ability to implement them in a real-world scenario.
NEW QUESTION # 78
You want to achieve multi-step cascading allocations, which feature do you use?
- A. General Ledger journal entries
- B. Formulas
- C. RuleSets
- D. Point of View (POV)
Answer: C
Explanation:
According to Oracle documentation2, when you want to achieve multi-step cascading allocations, you should use RuleSets. RuleSets enable you to group multiple allocation rules together and run them in a specific sequence. You can use RuleSets to perform cascading allocations, where the output of one rule becomes the input of another rule. Therefore, option A is correct. Option B is incorrect because formulas are used to define the calculation logic of allocation rules, not to group them together. Option C is incorrect because point of view (POV) is used to define the scope and context of allocation rules, not to group them together. Option D is incorrect because general ledger journal entries are used to record the results of allocation rules, not to group them together.
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NEW QUESTION # 79
You want to process multiple allocations at the same time. What feature do you use?
- A. General Ledger journal entries
- B. Formulas
- C. RuleSets
- D. Point of View (POV)
Answer: C
NEW QUESTION # 80
When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?
- A. Make sure the tree is active
- B. Make sure to flatten the rows of the tree version
- C. Redeploy the chart of accounts
- D. Make sure the tree version was published successfully
Answer: D
Explanation:
"When you publish a tree version, General Ledger creates a flattened version of the tree hierarchy and stores it in a table that Essbase can access. Essbase uses this flattened hierarchy to build dimensions in the balances cube." Therefore, if the tree version is not published successfully, Essbase cannot access the tree hierarchy.
NEW QUESTION # 81
Which reporting tool is best suited for submitting high-volume transactional reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?
- A. Business Intelligence Publisher (BI Publisher)
- B. Smart View
- C. Oracle Data Visualization Cloud Service
- D. Financial Reporting Center
- E. Oracle Transactional Business Intelligence (OTBI)
Answer: A
NEW QUESTION # 82
A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a Primary and Secondary ledger. The two accounting standards are very close. Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?
- A. Journal Level
- B. FBDI Level
- C. Balance level
- D. Subledger Level
- E. Adjustment Only Level
Answer: A,E
Explanation:
According to Oracle documentation, when you have a subsidiary company in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP, you should configure the ledgers using these two ledger types: a primary ledger with the local accounting convention, and a secondary ledger with the IFRS accounting convention. A primary ledger represents your main accounting books that comply with local GAAP. A secondary ledger represents an alternative accounting representation that complies with IFRS. Therefore, options A and E are correct. Option B is incorrect because a reporting currency with the IFRS accounting convention does not represent an alternative accounting representation. Option C is incorrect because a primary ledger with the IFRS accounting convention does not comply with local GAAP. Option D is incorrect because a reporting currency with the local accounting convention does not represent an alternative accounting representation.
NEW QUESTION # 83
Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)
- A. Journal entry spreadsheets are not impacted by this new function.
- B. For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
- C. Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.
- D. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
Answer: B,D
NEW QUESTION # 84
Which two are valid Data Access Set types? (Choose two.)
- A. Read Only access
- B. Full access
- C. Full Ledger
- D. Primary Balancing Segment Value
- E. Read and Write access
Answer: A,B
Explanation:
The two valid Data Access Set types are Full access and Read Only access. A Data Access Set is a security feature that defines the access level that users have to ledger data, such as balances, budgets, or journals. A Data Access Set type is an attribute that determines the type of access that users have to ledger data within a Data Access Set. The two valid Data Access Set types are Full access and Read Only access. Full access allows users to view and enter data for ledger data within a Data Access Set. Read Only access allows users to view but not enter data for ledger data within a Data Access Set. Full Ledger is not a valid Data Access Set type, but an option that determines whether a Data Access Set grants access to all balancing segment values in a ledger or only specific balancing segment values. Primary Balancing Segment Value is not a valid Data Access Set type, but an attribute that identifies the legal entity or business unit for which financial statements are prepared and balanced. Read and Write access is not a valid Data Access Set type, but an alternative term for Full access. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12
NEW QUESTION # 85
You can run predefined reports to reconcile subledger application balances to General Ledger balances.
Which attribute needs to be set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation Report or Receivables to General Ledger Reconciliation Report?
- A. Third Party Control Account
- B. Reconcile
- C. End Date
- D. Start Date
- E. Financial Category
Answer: A
Explanation:
According to Oracle documentation3, the attribute that needs to be set up on the Manage Values page for chart of accounts segment values so that you can run the Payables to General Ledger Reconciliation Report or Receivables to General Ledger Reconciliation Report is Third Party Control Account. The Third Party Control Account attribute enables you to maintain detailed balances by third party for an account combination. Valid third-party information must be associated with the journal line if the account is a third party control account. General Ledger prevents manual journal entries from posting to third party control accounts. Therefore, option B is correct. Option A is incorrect because Financial Category is not an attribute that affects the reconciliation reports. Option C is incorrect because End Date is not an attribute that affects the reconciliation reports. Option D is incorrect because Start Date is not an attribute that affects the reconciliation reports. Option E is incorrect because Reconcile is not an attribute that affects the reconciliation reports.
NEW QUESTION # 86
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?
- A. Specify Run Time Prompts (RTP)
- B. Only specify segment values in formulas
- C. Never use the Outer Point of View (POV)
- D. Always use the Outer Point of View (POV)
Answer: C
Explanation:
"The outer point of view is used to specify segment values that are constant for rules and formulas. If you use a parent value in the outer point of view, it must have a Constant segment type." Therefore, if you want to define an allocation rule where segment values are constants for rules and formulas, you should never use the outer POV.
NEW QUESTION # 87
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. Application Developer Framework Desktop Integrator
- B. Enterprise Resource Budget Integrator
- C. File Based Data Import
- D. The budget journal spreadsheet
Answer: A
NEW QUESTION # 88
The Cloud Client wants to add a global branding logo and more predefined transactional attributes to the journal approval email notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. The Sub_Template
- B. Output type
- C. The Data Source
- D. The layout-Template
- E. The Data Model
Answer: D,E
Explanation:
To add a global branding logo and more predefined transactional attributes to the journal approval email notification, you should copy (or customize) and edit the layout template and the data model. The layout template is a file that defines the appearance and content of the notification, such as text, images, tables, or charts. The data model is a file that defines the data sources and queries that provide data for the notification, such as predefined transactional attributes. You can copy (or customize) and edit the layout template and the data model using Oracle Analytics Publisher reports. You do not need to copy (or customize) and edit the output type, as this is a setting that determines the format of the notification output, such as HTML or PDF. You do not need to copy (or customize) and edit the data source, as this is a component of the data model that specifies where data for the notification comes from, such as an SQL query or an XML file. You do not need to copy (or customize) and edit the sub template, as this is a file that contains reusable content or logic that can be referenced by multiple layout templates. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Workflow Approvals and Notifications 12
NEW QUESTION # 89
Which delivered role can access the full functionality of Functional Setup Manager?
- A. Functional Setup Manager Superuser
- B. Application Implementation Manager
- C. Any functional user
- D. Application Implementation Consultant
- E. IT Security Manager
Answer: B
Explanation:
According to Oracle documentation2, the delivered role that can access the full functionality of Functional Setup Manager is Application Implementation Manager. Functional Setup Manager is a tool that enables you to manage and perform all of the setup tasks required for an application implementation. Application Implementation Manager is a predefined role that grants access to Functional Setup Manager and all of its features, such as setup tasks, implementation projects, setup export and import, and setup reports. Therefore, option A is correct. Option B is incorrect because Functional Setup Manager Superuser is not a delivered role. Option C is incorrect because IT Security Manager is a role that grants access to security-related tasks, not Functional Setup Manager. Option D is incorrect because any functional user does not have access to Functional Setup Manager by default. Option E is incorrect because Application Implementation Consultant is not a delivered role.
NEW QUESTION # 90
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
- A. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
- B. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
- C. 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
- D. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
- E. Posting performance is much faster
Answer: A,C
NEW QUESTION # 91
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Chart of Accounts
- B. Accounting Date
- C. Journal Line Rules
- D. Supporting Reference
- E. Account Rules
Answer: C,D,E
Explanation:
According to Oracle documentation3, the subcomponents of a Subledger Journal Entry Rule Set are Journal Line Rules, Account Rules, and Supporting Reference. A Subledger Journal Entry Rule Set defines how subledger journal entries are created for each event class and event type. A Journal Line Rule defines how subledger journal lines are created for each event class and event type. An Account Rule defines how accounts are derived for each journal line. A Supporting Reference stores additional information for journal lines. Therefore, options C, D, and E are correct. Option A is incorrect because Accounting Date is not a subcomponent of a Subledger Journal Entry Rule Set. Option B is incorrect because Chart of Accounts is not a subcomponent of a Subledger Journal Entry Rule Set.
NEW QUESTION # 92
You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding financial results. How would you achieve this?
- A. Use Smart View, which is an Excel Add-on
- B. When designing your financial statement using Financial Report (FR), embed a chart into your report
- C. Use Account Inspector that automatically creates graphs on financial balances
- D. When viewing the report, download to Excel and use Excel's Charting features to create your bar graph
Answer: B
Explanation:
Financial Report (FR) is a tool that allows you to create financial statements and reports using data from General Ledger Cloud. FR supports embedding charts into your reports to enhance the presentation and understanding of financial results. You can choose from different types of charts, such as bar graphs, pie charts, line graphs, etc., and customize their appearance and properties. You can also link the charts to the report data and drill down to the underlying details. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Create Financial Reports 12
NEW QUESTION # 93
In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)
- A. Application Composer
- B. Oracle Transactions Business Intelligence
- C. Financial Reporting Studio
- D. Smart View
- E. Oracle Enterprise Repository
Answer: B,C,D
Explanation:
These are some of the reporting tools that can be used to access General Ledger balances in Oracle Cloud ERP2. Oracle Transactions Business Intelligence (OTBI) is a real-time self-service reporting tool that provides pre-built dashboards and reports based on live transactional data. Financial Reporting Studio is a tool that enables you to create and manage financial reports using data from various sources, such as General Ledger balances, Essbase cubes, or external data sources. Smart View is an Excel add-in that allows you to access and analyze data from various sources, such as General Ledger balances, Essbase cubes, or OTBI subject areas.
NEW QUESTION # 94
When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.
Which two reporting tools allow you to achieve this? (Choose two.)
- A. Account Inspector
- B. Financial Statement Generator
- C. Financial Reporting Studio
- D. Smart View
Answer: C,D
Explanation:
Reference:
According to Oracle documentation3, when creating financial statements, you would like to have a chart, such as a bar graph, included in the report output, you can use Financial Reporting Studio and Smart View as two reporting tools that allow you to achieve this. Financial Reporting Studio enables you to design and generate reports with charts using data from various sources. Smart View enables you to access and analyze data with charts from various sources using Excel. Therefore, options A and C are correct. Option B is incorrect because Account Inspector does not allow you to create charts in financial statements. Option D is incorrect because Financial Statement Generator does not allow you to create charts in financial statements.
NEW QUESTION # 95
Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?
- A. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
- B. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
- C. In Financials Cloud, you must manually reconcile your intercompany account balances
- D. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
- E. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
Answer: D
Explanation:
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DAAC7706212CF48E040D30A6881766A According to Oracle documentation1, a more automated approach to reconcile intercompany payables and receivables accounts is to run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance. This report is automatically generated when you run the Prepare Intercompany Reconciliation Information process. You can drill down on the report to view the balances by source and by journal lines. Therefore, option D is correct. Option A is incorrect because Oracle Hyperion Close Manager is not a tool for reconciling intercompany account balances. Option B is incorrect because you don't need to manually reconcile your intercompany account balances in Financials Cloud. Option C is incorrect because the BI Publisher reports called Intercompany Transaction Summary and Account Details are not designed to reconcile intercompany balances. Option E is incorrect because creating a query using Oracle Transactional Business Intelligence (OTBI) is not a more automated approach to reconcile intercompany payables and receivables accounts.
NEW QUESTION # 96
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