[2023] Use Valid New 1z0-1054-22 Test Notes & 1z0-1054-22 Valid Exam Guide
1z0-1054-22 Actual Questions Answers PDF 100% Cover Real Exam Questions
Passing the Oracle 1z0-1054-22 certification exam is an excellent way to demonstrate your expertise in implementing and managing Oracle Financials Cloud: General Ledger. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification is highly regarded in the industry and is recognized by employers worldwide. By earning this certification, you can increase your chances of landing a high-paying job or advancing your career in the financials field.
NEW QUESTION # 61
Users with the General Accountant job role have reported that they are unable to access the UK Ledger.
They require read/write access to the full ledger. The Accounting configuration completed successfully.
What should you do to allow access to the ledger?
- A. Assign the General Accounting Manager role to those users.
- B. Assign the security context value of UK Ledger to the user/role combination.
- C. Create a Data Access Set that allows access to the UK Ledger.
- D. Assign the UK reference set to the user/role combination.
Answer: C
Explanation:
According to Oracle documentation2, you should create a Data Access Set that allows access to the UK Ledger to allow users with the General Accountant job role to access the UK Ledger. A Data Access Set is a security feature that defines the ledgers and balancing segment values that a user can access. You can assign Data Access Sets to users or roles using the Manage Data Access for Users page. Therefore, option B is correct. Option A is incorrect because assigning the security context value of UK Ledger to the user/role combination does not enable access to the ledger. Option C is incorrect because assigning the General Accounting Manager role to those users does not enable access to the ledger. Option D is incorrect because assigning the UK reference set to the user/role combination does not enable access to the ledger.
NEW QUESTION # 62
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)
- A. Define budgetary control at ledger level and only encumbrance control at the business units
- B. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
- C. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- D. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- E. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- F. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
Answer: B,E
Explanation:
To enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions for business unit one, you need to enable control at purchasing and define the exceptions to only include requisitioning. This will allow budgetary control to check funds availability only when requisitions are created or modified. To enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions for business unit two, you need to define control to disable control for Requisitioning, Purchasing, and Receiving. This will allow budgetary control to check funds availability only when invoices are created or modified. You do not need to define budgetary control at ledger level with Budgetary Control Exceptions for each business unit, as this is not a supported option. You do not need to enable control at Requisitioning and define the exceptions to only include invoicing for business unit two, as this will not achieve the desired result. You do not need to disable control for Purchasing, Payable Invoicing, and Receiving for business unit one, as this will not achieve the desired result. You do not need to define budgetary control at ledger level and only encumbrance control at the business units, as this is not a supported option. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Budgetary Control 12
NEW QUESTION # 63
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. 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
- B. 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
- C. 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
- D. 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
Answer: A
NEW QUESTION # 64
In which two ways can your users customize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
- A. They can format each table by hiding and showing columns, moving columns, and resizing columns
- B. Users have very little control their Springboards and Work Areas; they can only resize columns
- C. They can have the System Administration customize pages for them using Page Composer
- D. They can use Personalization to move and remove regions from those pages
Answer: A,D
Explanation:
your users can customize the Springboards and Work Areas to suit their individual working styles by using Personalization and formatting each table. Personalization allows users to move and remove regions from those pages, as well as add new regions or change the layout. Therefore, option B is correct. Formatting each table allows users to hide and show columns, move columns, and resize columns, as well as sort, filter, or group data. Therefore, option D is correct. Option A is incorrect because users have more control over their Springboards and Work Areas than just resizing columns. Option C is incorrect because users don't need to have the System Administration customize pages for them using Page Composer. They can use Personalization instead.
NEW QUESTION # 65
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business. As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?
- A. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
- B. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
- C. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances
- D. Run Revaluation to translate into Statistical Currency
Answer: A
Explanation:
The recommendation when defining ledgers for a country whose unstable currency makes it unsuitable for managing your day-to-day business is to use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency. Reporting currencies are representations of a primary or secondary ledger in another currency that share the same chart of accounts, accounting calendar, and accounting method as their related ledger. You can use reporting currencies for online inquiries, reporting, and consolidation. Journal-Level or Subledger-Level Reporting Currencies capture transactional balances at the journal or subledger level and convert them to the reporting currency using daily rates. This allows you to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. You do not need to run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances, as this is a process that adjusts foreign currency balances to reflect current exchange rates, not a way to define ledgers. You do not need to run Revaluation to translate into Statistical Currency, as this is not a supported option. You do not need to create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency, as this is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting representations of the same transactions. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Consolidate Balances 12
NEW QUESTION # 66
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
- A. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
- B. Posting performance is much faster
- C. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
- D. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
- E. 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
Answer: D,E
Explanation:
The benefits of having the Essbase cube embedded in General Ledger Cloud are that general ledger balances are multidimensional, allowing you to perform robust reporting and analysis using different dimensions and hierarchies, and that 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. Posting performance is not faster because of the Essbase cube, as posting still involves updating the relational tables. Integrating with third-party systems is not easier because of the Essbase cube, as this involves using web services or file-based data import. You still need to create and maintain hierarchies because the Essbase cubes are not created when you create your chart of accounts, but when you complete the accounting configuration. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 67
The Create Accounting program could not determine the debit side of the journal entry.
Which component of Subledger Accounting determines the debit or credit side of a journal entry?
- A. Journal Entry Rule Set
- B. Journal Accounting Rule
- C. Account Rule
- D. Journal Line Rule
- E. Journal Balances Rule
Answer: D
Explanation:
The component of Subledger Accounting that determines the debit or credit side of a journal entry is the Journal Line Rule. A Journal Line Rule defines the conditions for creating a journal line for a subledger transaction and specifies whether the journal line is a debit or credit line. A Journal Line Rule also references other components such as Account Rules, Journal Entry Rule Sets, and Journal Accounting Rules to derive other attributes of a journal entry. A Journal Balances Rule is not a component of Subledger Accounting, but a feature of General Ledger that enables you to define how balances are calculated for reporting purposes. A Journal Entry Rule Set is not a component of Subledger Accounting that determines the debit or credit side of a journal entry, but a group of Journal Line Rules that define how journal entries are created for subledger transactions. A Journal Accounting Rule is not a component of Subledger Accounting that determines the debit or credit side of a journal entry, but a rule that defines how accounting amounts are derived for journal lines based on different date ranges or periods. An Account Rule is not a component of Subledger Accounting that determines the debit or credit side of a journal entry, but a rule that defines how accounting flexfield values are derived for journal lines based on various sources. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Subledger Accounting 12
NEW QUESTION # 68
The Create Accounting program could not determine the debit side of the journal entry.
Which component of Subledger Accounting determines the debit or credit side of a journal entry?
- A. Journal Accounting Rule
- B. Journal Line Rule
- C. Journal Entry Rule Set
- D. Account Rule
- E. Journal Balances Rule
Answer: C
NEW QUESTION # 69
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)
- A. Control budgets are always absolute to generate encumbrance accounting
- B. A control budget can be associated with a different calendar than accounting calendar
- C. The control budget structure has all the chart of account segments as budget segments
- D. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
- E. A control budget can allow override rules only if the control level is absolute
Answer: A,B,D
Explanation:
According to the Oracle documentation2, "Control budgets are always absolute to generate encumbrance accounting." Therefore, this is a true statement regarding the creation of a control budget.
According to the Oracle documentation3, "You can associate a control budget with a different calendar than your accounting calendar." Therefore, this is also a true statement regarding the creation of a control budget.
NEW QUESTION # 70
You need to create a boardroom ready month-end reporting package for an upcoming Audit Committee meeting. You have 10 Financial Reports that you want to share with executives and auditors that are nicely formatted.
What are the two Oracle recommended ways to accomplish this? (Choose two.)
- A. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- B. Use a report batch to run reports at a specific time to create a set of snapshot reports
- C. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- D. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
- E. Use OTBI to create multiple reports that you save to a folder that only the users can access
Answer: B,C
NEW QUESTION # 71
You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What Calendar format should you choose?
- A. Period
- B. Fiscal
- C. Year
- D. Calendar
Answer: B
Explanation:
According to Oracle documentation, when you need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in, you should choose Fiscal as the Calendar format. A Fiscal calendar format enables you to define periods based on fiscal years that span two calendar years. Therefore, option B is correct. Option A is incorrect because a Calendar format defines periods based on calendar years that start on January 1st and end on December 31st. Option C is incorrect because a Year calendar format defines periods based on calendar years that start on any month other than January and end on any month other than December. Option D is incorrect because a Period calendar format defines periods based on any number of days or weeks.
NEW QUESTION # 72
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?
- A. Account Inspector and its charts
- B. Smart View
- C. Account Monitor
- D. Financial Reports with Embedded charts
Answer: C
Explanation:
Account Monitor is a feature that allows you to monitor key account balances in real time and compare them to predefined thresholds. You can set up alerts to notify you when an account balance exceeds or falls below a certain percentage or amount. You can also drill down to the underlying transactions and subledger details to investigate the cause of the account anomalies. Account Monitor helps you to identify and resolve reconciliation issues in a timely manner. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Monitor Account Balances 12
NEW QUESTION # 73
You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?
- A. Use Close Monitor in General Accounting Dashboard
- B. Run Closing Status reports
- C. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period
- D. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers
Answer: B
NEW QUESTION # 74
You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
- A. You have not set the Allow Budgeting attribute for the value set
- B. The Account Type qualifier has not been enabled when defining the value set
- C. You have not set the Allow Posting attribute for the value set
- D. You are creating values before assigning the value set to the structure
Answer: C
NEW QUESTION # 75
You want to process multiple allocations at the same time. What feature do you use?
- A. RuleSets
- B. Formulas
- C. General Ledger journal entries
- D. Point of View (POV)
Answer: A
Explanation:
you can use RuleSets to process multiple allocations at the same time. A RuleSet is a group of allocation rules that you can run together. Therefore, option A is correct. Option B is incorrect because formulas are used to define the basis of allocation, not to process multiple allocations. Option C is incorrect because General Ledger journal entries are used to record transactions, not to process multiple allocations. Option D is incorrect because Point of View (POV) is used to specify the source and target of allocation, not to process multiple allocations.
NEW QUESTION # 76
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. FBDI Level
- B. Journal Level
- C. Subledger Level
- D. Adjustment Only Level
- E. Balance level
Answer: B,D
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 # 77
Which AMX builder method is most effective in routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal?
- A. Supervisory level approval
- B. Management Chain approval
- C. Approval Groups
- D. Dynamic Approval Groups
- E. Cost center based approval
Answer: A
Explanation:
Supervisory level approval is the most effective AMX builder method for routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal. Supervisory level approval routes journals based on the management hierarchy defined in Human Capital Management (HCM). The Accounting Manager would be the direct supervisor of The General Accountant in HCM, and therefore would receive the journal for approval. Cost center based approval routes journals based on the cost center segment value of the journal lines. Dynamic Approval Groups routes journals based on user-defined conditions and approval groups. Management Chain approval routes journals based on user-defined management chains and approval levels. Approval Groups routes journals based on user-defined approval groups and rules. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Journal Approval 12
NEW QUESTION # 78
Your company has a legal entity in the UK, US, and Canad A.
They can all share the same chart of accounts but are required to transact and report in their local currency.
What is the minimum number of ledgers you need and why?
- A. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
- B. Two, because the US and Canada can share the same ledger because they are in North America
- C. Three, because each requires a different currency
- D. One, because they can all share the same chart of accounts
Answer: D
NEW QUESTION # 79
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India).
Which three labels are required when designing the chart of account structure for this project? (Choose three.)
- A. Natural Account
- B. Intercompany Segment
- C. Cost center
- D. Primary Balancing
- E. Secondary Balancing
Answer: A,C,D
Explanation:
The three labels that are required when designing the chart of account structure for this project are Primary Balancing, Cost center, and Natural Account. A chart of account structure is composed of segments that represent different dimensions of accounting information, such as company, department, account, or project. Each segment has a label that indicates its function or purpose within the chart of accounts. The Primary Balancing label is required for the segment that identifies the legal entity or business unit for which financial statements are prepared and balanced. The Cost center label is required for the segment that identifies the organizational unit or function that incurs expenses or generates revenues. The Natural Account label is required for the segment that identifies the nature of an account, such as asset, liability, revenue, or expense. The Intercompany Segment label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies intercompany transactions between different legal entities or business units within the same enterprise. The Secondary Balancing label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies an additional balancing dimension other than the primary balancing segment, such as fund or region. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12
NEW QUESTION # 80
Which two statements are true regarding how Intercompany Balancing Rule are defined? (Choose two.)
- A. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
- B. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment values.ys
- C. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types.
- D. All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules.
Answer: C,D
NEW QUESTION # 81
You want to process multiple allocations at the same time. What feature do you use?
- A. RuleSets
- B. Formulas
- C. General Ledger journal entries
- D. Point of View (POV)
Answer: A
NEW QUESTION # 82
You have set up a supporting reference with balances to capture revenue by account manager.
Which option should you use to view the supporting reference balances?
- A. General Ledger inquiries and reports
- B. an Account Group
- C. an OTBI analysis
- D. a SmartView analysis
Answer: C
Explanation:
Reference:
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NEW QUESTION # 83
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Oracle 1z0-1054-22 exam is an ideal choice for professionals who are looking to showcase their expertise in implementing Oracle Financials Cloud: General Ledger 2022. It is also suitable for those who are looking to upgrade from previous versions of Oracle Financials Cloud and want to stay up-to-date with the latest features and functionalities.
Oracle 1z0-1054-22 certification exam is designed to validate the knowledge and skills of professionals who want to implement and manage the General Ledger module of Oracle Financials Cloud. 1z0-1054-22 exam covers various topics related to financial accounting and reporting, including accounting setups, journal entries, financial reports, and intercompany transactions. It requires candidates to have a deep understanding of the General Ledger functionality and its integration with other modules of Oracle Financials Cloud. Passing 1z0-1054-22 exam demonstrates that a candidate is capable of implementing, configuring, and maintaining the General Ledger module in an enterprise environment.
1z0-1054-22 Exam questions and answers: https://pass4sure.verifieddumps.com/1z0-1054-22-valid-exam-braindumps.html
