Verified 1z0-1054-24 Q&As - Pass Guarantee 1z0-1054-24 Exam Dumps
Check the Free demo of our 1z0-1054-24 Exam Dumps with 87 Questions
NEW QUESTION # 18
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 # 19
You are setting upClose Monitor, which comprises aledger set hierarchy definition.
Which two components of theenterprise structureshould the ledgers in the ledger set share?
- A. Legal Entities, Business Units, and Chart of Accounts
- B. Chart of Accounts and Business Units
- C. Accounting Calendar
- D. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
- E. Chart of Accounts
Answer: C,E
NEW QUESTION # 20
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. No pending transaction in the General Ledger Interface table
- B. Pending Transaction in General Ledger Interface
- C. Pending Intercompany Transactions
- D. Intercompany Transactions are completed
Answer: B,C,D
NEW QUESTION # 21
Your company hascomplex consolidation requirementswithmultiple general ledger instances. You are usingOracle Hyperion Financial Managementto consolidate the disparateGeneral Ledgers.
You can typically map segments between yourgeneral ledger segmentto aHyperion Financial Management segment, such as:
* Company to Entity
* Department to Department
* Account to Account
What happens to segments in yoursource general ledger, such asProgram, thatcannot be mappedto Hyperion Financial Management?
- A. The data is not transferred.
- B. Data is summarized across segments that are not mapped to Hyperion Financial Management.
- C. The unmapped segments default tofuture use segmentsin Hyperion Financial Management.
- D. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management.
Answer: B
NEW QUESTION # 22
You have set up asupporting reference with balancesto capturerevenue by account manager.
Which option should you use to view thesupporting reference balances?
- A. An Account Group
- B. An OTBI analysis
- C. A SmartView analysis
- D. General Ledger inquiries and reports
Answer: B
NEW QUESTION # 23
You already ranTranslation, but a last-minuteadjusting journal entryin yourledger currencywas entered after you consolidated your results.
What does Oracle considerbest practicewhen this occurs?
- A. Rerun Revaluation and then rerun Translation.
- B. Rerun Translation and then reconsolidate your results.
- C. Translate only the adjusting journal entry.
- D. Enter another adjusting journal entry in the target currency to true up the balances.
Answer: B
NEW QUESTION # 24
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 # 25
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?
- A. The original journal entry in Euros remains the same.
- B. There is no unrealized exchange gain or loss calculated.
- C. The original journal entry in Euros is updated.
- D. You have an unrealized exchange loss recorded.
- E. You have an unrealized exchange gain recorded.
Answer: A,D
Explanation:
The revaluation process is used to adjust account balances denominated in a foreign currency. Revaluation adjustments represent the difference in account balances due to changes in conversion rates between the date of the original journal and the revaluation date. These adjustments are posted through journal entries to the underlying account with the offset posted to an unrealized gain or loss account. The two statements that are true about the resulting revaluation run are:
* You have an unrealized exchange loss recorded: Since the ledger currency (USD) has depreciated against the foreign currency (Euro) from the date of the original journal to the revaluation date, the account balance in USD has increased. This means that you have a loss on the
NEW QUESTION # 26
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. Subledger level
- C. Balance level
- D. Journal level
- E. Adjustment only level
Answer: E
Explanation:
The adjustment only level is the data conversion level that ensures only manual journals will be entered in the secondary ledger. This level means that no data is copied from the primary ledger to the secondary ledger automatically. Instead, the user can enter manual adjustments in the secondary ledger to reflect the differences between the two accounting standards. This level issuitable for scenarios where the accounting methods or charts of accounts are very close between the primary and secondary ledgers, and there is no need to maintain detailed journals or subledger transactions in the secondary ledger. References: Primary Ledgers, Secondary Ledgers, and Reporting Currencies, High Volume Data Migration Considerations for General Ledger, Reporting Currencies - Conversion Level Balance
NEW QUESTION # 27
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 security context value of UK Ledger to the user/role combination.
- B. Assign the UK reference set to the user/role combination.
- C. Assign the General Accounting Manager role to those users.
- D. Create a data access set that allows access to the UK Ledger.
Answer: D
Explanation:
Data access sets are collections of ledgers that define the data security for users who access General Ledger.
Users can only access the ledgers that are assigned to them through data access sets. To allow users with the General Accountant job role to access the UK Ledger, you need to create a data access set that includes the UK Ledger and assign it to the user/role combination. You also need to specify the access privilege for the data access set, which can be Full Ledger, Both Read and Write, or Read Only. In this case, you need to select Both Read and Write to allow read/write access to the full ledger. References:
* Implement General Ledger
* GL_ACCESS_SET_LEDGERS
* The Default Data Access Set
* Overview of General Ledger Security
NEW QUESTION # 28
You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)
- A. You can have only one version of a hierarchy published to the Essbase cube at any time.
- B. Hierarchies for reporting and allocations have to be published to Essbase cubes.
- C. Child values in these hierarchies can belong to only one parent.
- D. Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
Answer: A,C
Explanation:
According to the Oracle documentation34, account hierarchies are defined in Oracle Fusion applications using tree functionality. Each account hierarchy is defined as a tree with one or more versions. You can have only one version of a hierarchy published to the Essbase cube at any time (option A). Child values in these hierarchies can belong to only one parent (option D). Option B is incorrect becausehierarchies for reporting and allocations must be published to Essbase cubes5. Option C is incorrect because it contradicts option B.
NEW QUESTION # 29
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. You don't have to do anything; this option is enabled automatically.
- B. Set the relevant option on the Specify Ledger Options page.
- 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: B
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 # 30
You can run predefined reports to reconcile subledger application balances to General Ledger balances.
Which attribute must you 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. Financial Category
- B. Third Party Control Account
- C. End Date
- D. Start Date
- E. Reconcile
Answer: A
NEW QUESTION # 31
You need to integrateFusion Accounting Hubwithexternal source systemsused forBilling. Identify the step that isnot correctwhen implementing this integration.
- A. Analyze external system transactions.
- B. Capture accounting events.
- C. Create the accounting in the source system and then import the journal entries into subledger accounting.
- D. Determine the accounting impact of transactions.
Answer: C
NEW QUESTION # 32
You need to add new transactional attributes to the journal approval notification in an implementation project.
Which two Business Intelligence catalog objects should you copy (or customize) and edit?
- A. Style template
- B. Data model
- C. Layout template
- D. Sub template
- E. Output type
Answer: B,C
Explanation:
To modify the journal approval notification, you need to copy (or customize) and edit the layout template and the data model of the Analytics Publisher report. The layout template defines the appearance and content of the notification, such as the text, fields, tables, and images. The data model defines the data sources and queries that provide the data for the notification, such as the journal attributes, amounts, and statuses. You can use Template Builder for Word to edit the layout template and Analytics Publisher to edit the data model. You also need to download the Workflow Notification Subtemplate, which is a common subtemplate that contains the header and footer of the notification. You can preview the modified notification using the subtemplate and the data model. References:
* Modify Journal Approval Notifications with Analytics Publisher
* [Creating Analytics and Reports for Financials Cloud]
NEW QUESTION # 33
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. The Create Scenario Dimension Members program has not been run.
- B. Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.
- C. Budgeting is not enabled in the Ledger options.
- D. Transfer Budget Balances to Budget Cubes has not been run.
- E. A value for the budget scenario is not created.
Answer: A,E
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 # 34
TheDelete Translated Balancesprocess provides the ability to completely reset translations in the event that significant changesare made to the accounting configuration.
Once the deletion process completes, what additional process must you run?
- A. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- B. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- C. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- D. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
Answer: C
NEW QUESTION # 35
What are two uses of the Column Flattening and Row Flattening features? (Choose two.)
- A. View information for runtime performance.
- B. Optimize parent/child relationships.
- C. Set the status of a tree to active.
- D. Create additional versions of a tree.
- E. Verify correctness of trees.
Answer: C,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 # 36
What are thetwo possible reasonsforencumbrance created on the purchase orderto go back to thebudget or funds availability?
- 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. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice.
- C. The requisition reserved successfully undergoes amendment and is rejected in the reapproval.
- D. 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.
Answer: B,D
NEW QUESTION # 37
Your company has complex consolidation requirements with multiple General Ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your General Ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account What happens to segments in your source General Ledger, such as Program, that cannot be mapped to Hyperion Financial Management?
- A. Data is summarized across segments that are not mapped to Hyperion Financial Management.
- B. The unmapped segments default to future use segments in Hyperion Financial Management.
- C. Errors occur for unmapped segments. You must map multiple segments from source General Ledgers to the target segment in Hyperion Financial Management.
- D. No data is transferred.
Answer: A
Explanation:
When integrating with Oracle Hyperion Financial Management, you can use the following dimensions for consolidation: Entity, Scenario, Year, Period, Value, Account, Intercompany, Custom1 to Custom4, and View. You can map one to one, or concatenate segments from your source General Ledger to a single Hyperion Financial Management dimension. For example, you can map Company to Entity, Department to Department, and Account to Account. However, if you have segments in your source General Ledger that cannot be mapped to any Hyperion Financial Management dimension, such as Program, then the data is summarized across those segments. This means that the data is aggregated to the highest level of the unmapped segments, and the detail information is lost. For example, if you have Program as a segment in your source General Ledger, and you do not map it to any Hyperion Financial Managementdimension, then the data is summarized by Program, and you cannot see the data by individual Program values in Hyperion Financial Management. References:
* Example of Mapping Segments to Financial Management Dimensions
* Overview of the Chart of Accounts Mapping Page
NEW QUESTION # 38
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 # 39
Which two statements are true regarding the export/import of reports?
- A. Reports on setup data can be used to compare and analyze how the data might have changed over time.
- B. A set of reports lists user names, suppliers, and customers that have been exported/imported.
- C. The export/import reports are available only for Fusion Customer Relationship Management.
- D. A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.
- E. To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.
Answer: A,D
NEW QUESTION # 40
Which two statements areTRUEregarding theBalances CubesinGeneral Ledger?
- A. A new Balances Cube is created for a unique combination of Ledger and Currency.
- B. New dimensions can be added to a General Ledger Balances Cube.
- C. They are updated automatically when the Revaluation process is run.
- D. They are updated automatically when the General Ledger period is opened.
- E. They are updated automatically when the Translation process is run.
Answer: D,E
NEW QUESTION # 41
You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment.
What is Oracle's recommended method to define this chart of accounts?
- A. Define the intercompany segment with a default value.
- B. Define the company segment and assign both the primary balancing segment and intercompany segment labels.
- C. Create two different value sets for the company and intercompany segments.
- D. Share the same value set for the company and intercompany segments.
Answer: D
Explanation:
According to Oracle documentation3, Oracle's recommended method to define a chart of accounts that includes an intercompany segment when your customer plans to use segment value security rules for the Company segment is to share the same value set for the company and intercompany segments. Sharing the same value set enables you to use segment value security rules for both segments and ensures that the values in both segments are consistent. Therefore, option B is correct. Option A is incorrect because defining the intercompany segment with a default value does not enable segment value security rules for the intercompanysegment. Option C is incorrect because defining the company segment and assigning both the primary balancing segment and intercompany segment labels does not enable segment value security rules for the intercompany segment. Option D is incorrect because creating two different value sets for the company and intercompany segments does not ensure that the values in both segments are consistent.
NEW QUESTION # 42
Your customer isexpanding its operations. You defined a newledgerand severalbusiness units. However, you areunable to assignthe newly generateddata rolesto existingAccounts Payables and Accounts Receivablesusers in the shared service center.
What should you do to correct the problem?
- A. Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.
- B. Open the Manage Users page and make sure the employees at
- C. Open the Oracle Identity Management (OIM) and make sure the data roles were created.
- D. Open Access Policy Manager (APM) and assign the roles manually.
Answer: D
NEW QUESTION # 43
......
Oracle 1z0-1054-24 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
Get professional help from our 1z0-1054-24 Dumps PDF: https://www.pass4cram.com/1z0-1054-24_free-download.html
Clear your concepts with 1z0-1054-24 Questions Before Attempting Real exam: https://drive.google.com/open?id=195jk3WYxLt2-uMFbmYDkf0cxb6ZZTXXm