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Oracle 1z0-1054-24 Dumps

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Oracle Financials Cloud: General Ledger 2024Implementation Professional Questions and Answers

Question 1

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.

as

Note:

. Prefix your alias name with 07, where 07 is

your exam ID.

. There is no Product or Intercompany

impact.

Options:

Question 2

Manage Chart of Accounts Structure and Instance

Scenario

Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5-segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in

the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts.

Task 1

Create a Chart of Accounts Structure and Instance for the following Chart of Accounts:

as

Note:

· Prefix all your setups with 07, where 07 is your candidate ID

· There is one balancing segment.

· Choose the appropriate segment labels.

. For the purpose of this test there is no need to deploy the flexfield.

. Valid code combinations should be added to the Code Combination table automatically.

· Shorthand aliases will not be implemented.

. Accept the defaults for the instance segments.

Options:

Question 3

Task 3

Manage Chart of Accounts Mappings

Scenario

Your client needs to consolidate their UK Ledger to the Canadian parent ledger. Each Chart of Accounts

has the following segments:

Company-LoB-Account-Cost Center-Product-Intercompany

Know that the Company, LoB, Product, and Intercompany segments share the same value sets.

Create a Chart of Accounts mappings to map UK Chart of Accounts to CA Chart of Accounts that meets the following specifications:

Cost Center Mapping

. Balance Sheet (0 and 000) should be mapped to

Balance Sheet

. All other cost centers should be mapped to 610

Account Mapping

. Asset accounts (in the 1000 range) should be

mapped to account 11101

. Liability accounts (in the 2000 range) should be

mapped to account 22100

. Equity accounts (in the 3000 range) should be

mapped to account 34000

. Revenue accounts (in the 4000 range) should be

mapped to account 42000

. Expense accounts (from 5000 onwards) should be

mapped to account 51100

Note:

· Do not use conditions based on parents.

. Treat any account after the 5000 range as an expense.

· Ensure all maps are numeric only.

· When creating your mapping rules for each segment

please allow for existing and future segment values

Options:

Question 4

Which two statements are true about infotiles and infolets?

Options:

A.

You can refresh infolets to see up-to-date data.

B.

Infotiles pull data from a Smart View analysis.

C.

Infolets are accessed only from the News Feed home page layout.

D.

You can create your own user-defined infolets.

E.

Infotiles have Front view. Back view, and Expanded view.

Question 5

You need to integrateFusion Accounting Hubwithexternal source systemsused forBilling. Identify the step that isnot correctwhen implementing this integration.

Options:

A.

Determine the accounting impact of transactions.

B.

Capture accounting events.

C.

Create the accounting in the source system and then import the journal entries into subledger accounting.

D.

Analyze external system transactions.

Question 6

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?

Options:

A.

Journal level

B.

Subledger level

C.

FBDI level

D.

Balance level

E.

Adjustment only level

Question 7

Which delivered role can access the full functionality of Functional Setup Manager?

Options:

A.

Application Implementation Manager

B.

Functional Setup Manager Superuser

C.

IT Security Manager

D.

Any functional user

E.

Application Implementation Consultant

Question 8

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.)

Options:

A.

Primary Balancing

B.

Intercompany Segment

C.

Secondary Balancing

D.

Cost center

E.

Natural Account

Question 9

You are creating values for thechart of account value setthat you are planning to use for theaccount segmentwithin yourChart of Accounts. You are not able to assign anAccount Type.

What is the reason for this?

Options:

A.

The Account Type qualifier has not been enabled when defining the value set.

B.

You have not set the Allow Budgeting attribute for the value set.

C.

You are creating values before assigning the value set to the structure.

D.

You have not set the Allow Posting attribute for the value set.

Question 10

You are implementingFinancials Cloudand are usingspreadsheetsto loadLegal Entities, Business Units, and Account Hierarchies.

Which threesetup objectscan be loaded via aspreadsheetfromFunctional Setup Manager?

Options:

A.

Complete Accounting Configuration

B.

Suppliers and Customers

C.

Banks, Bank Accounts, and Branches

D.

Setup data for Receivables and Payables product.

E.

Chart of account values, accounting calendar, and ledger

Question 11

What are thetwo possible reasonsforencumbrance created on the purchase orderto go back to thebudget or funds availability?

Options:

A.

When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.

B.

When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.

C.

The requisition reserved successfully undergoes amendment and is rejected in the reapproval.

D.

The purchase order is canceled or finally closed or rejected without performing any receipt or invoice.

Question 12

You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation.

Where do you reference the statistical balance within the allocation component?

Options:

A.

Source

B.

Allocation Range

C.

Target

D.

Offset

E.

Basis

Question 13

Your ledger currency is USD. At month end, you have a balance on the Accounts Payable Liability Account of 100,000 Euros, which is equivalent to 136,550 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.3755 USD.

What two statements are true about the resulting revaluation run?

Options:

A.

There is no unrealized exchange gain or loss calculated.

B.

You have an unrealized exchange loss recorded.

C.

The original journal entry in Euros is updated.

D.

The original journal entry in Euros remains the same.

E.

You have an unrealized exchange gain recorded.

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