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1z0-1054-23 Question Includes: Single Choice Questions: 23, Multiple Choice Questions: 25, Simulation: 3,
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The Oracle 1Z0-1054-23 Oracle Financials Cloud: General Ledger 2023 Implementation Professional 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.
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.
The Oracle 1z0-1054-23 Oracle Financials Cloud: General Ledger 2023 Implementation Professional 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.
The passing score for the Oracle 1z0-1054-23 Oracle Financials Cloud: General Ledger 2023 Implementation Professional exam is 75% for both challenges and multiple-choice questions.
The 1Z0-1054-23 Oracle Financials Cloud: General Ledger 2023 Implementation Professional exam syllabus encompasses a wide range of topics, including:
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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.
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.
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
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?
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?
TESTED 22 Nov 2024
