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 1z0-1054-23 Dumps with Practice Exam Questions Answers

Questions: 51 questions

Last Update: Apr 12, 2024

1z0-1054-23 Question Includes: Single Choice Questions: 23, Multiple Choice Questions: 25, Simulation: 3,

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1. What is the Oracle 1Z0-1054-23 Exam?


The Oracle 1Z0-1054-23  exam is a professional-level certification exam validating your ability to implement Oracle Cloud Financials. Passing this exam demonstrates expertise in configuring, customizing, and administering the General Ledger module within Oracle Cloud.

2. What are the prerequisites for taking the Oracle 1Z0-1054-23 Exam?


While formal prerequisites are not set, Oracle recommends experience working with Oracle Financials Cloud General Ledger, ideally with prior implementation experience. Understanding accounting principles and familiarity with cloud computing concepts are also beneficial.

3. What is the format of the Oracle 1z0-1054-23 Exam?


The Oracle 1z0-1054-23  exam is a hands-on performance-based professional level certification exam that comprises of hands-on challenges and multiple-choice questions. The exam duration is 90 minutes.

4. What is the passing score for the Oracle 1z0-1054-23 Exam?


The passing score for the Oracle 1z0-1054-23  exam is 75% for both challenges and multiple-choice questions.

5. What topics are covered in the 1Z0-1054-23 Exam?


The 1Z0-1054-23 exam syllabus encompasses a wide range of topics, including:

  • Chart of Accounts and Account Balances
  • Intercompany Transactions and Currencies
  • Journals and Batches
  • Periods, Calendars, and Fiscal Year Closing
  • Budgets and Forecasting
  • Reporting and Analytics
  • Integration with other Oracle Cloud modules

6. What study materials are available for studying the Oracle 1Z0-1054-23 Exam?


Dumpstool offer study materials like 1z0-1054-23 practice questions and 1z0-1054-23 exam dumps to help you prepare for the  Exam.

7. Does Dumpstool guarantee success in the Oracle Financials Cloud Certification Exam?


Yes, Dumpstool provides high-quality materials and practice tools to significantly increase your chances of passing the Oracle Financials Cloud Certification Exam. We firmly believe in the power of effective preparation and knowledge-based learning.

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Integrate Dumpstool study materials into your broader study plan. Use our 1Z0-1054-23 practice questions to identify your weak areas, then refer to the relevant sections in the PDF guide for in-depth understanding. Take advantage of the explanations provided for each 1Z0-1054-23 exam question to solidify your knowledge.

1z0-1054-23 Questions and Answers

Question # 1

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:

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.

Question # 2

Challenge 2

Manage Shorthand Aliases

Scenario

Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear 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.

Question # 3

Task3

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

Question # 4

You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud.

The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.

The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.

Which conversion level would you recommend to keep a thin secondary ledger?

A.

Journal ledger

B.

Adjustment only

C.

Balance level

D.

Sub-ledger level.

Question # 5

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.

Account Inspector

D.

Financial Statement Generator