1z0-1054-24 Certification Test Answers, 1z0-1054-24 Lead2pass

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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.
Topic 2	Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.
Topic 3	Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.
Topic 4	Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.
Topic 5	Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization's financial operations.

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q71-Q76):

NEW QUESTION # 71
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 General Ledger period is opened.
D. They are updated automatically when the Translation process is run.
E. They are updated automatically when the Revaluation process is run.

Answer: C,D

NEW QUESTION # 72
An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

A. Ledger-level rule
B. Chart of accounts rule
C. Primary balancing segment rule
D. Legal entity-level rule

Answer: C

Explanation:
When balancing an intercompany journal, Oracle Fusion Cloud will first look for a primary balancing segment rule that matches the provider and receiver primary balancing segment values. If such a rule exists, it will be used to generate the intercompany receivables and payables accounts. If not, Oracle Fusion Cloud will look for a chart of accounts rule, then a legal entity-level rule, and finally a ledger-level rule. The primary balancing segment rule has the highest priority and the ledger-level rule has the lowest priority. References:
* Overview of Intercompany Balancing Rules
* Intercompany Balancing Rules
* Troubleshooting Guide For Intercompany Balancing
* Example of Generating Intercompany Receivables and Intercompany Payables Accounts

NEW QUESTION # 73
You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What format should you choose?

A. Fiscal Year
B. Calendar Year
C. Period
D. Year

Answer: A

Explanation:
According to Oracle documentation3, when you need to set up a calendar for the year Apr-XX to Mar-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 Year as the format. A Fiscal Year format enables you to define periods based on fiscal years that span two calendar years. Therefore, option A is correct. Option B is incorrect because a Calendar Year format defines periods based on calendar years that start on January 1st and end on December
31st. Option C is incorrect because a Period format defines periods based on any number of days or weeks.
Option D is incorrect because a Year format defines periods based on calendar years that start on any month other than January and end on any month other than December.

NEW QUESTION # 74
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. Data is summarized across segments that are not mapped to Hyperion Financial Management.
B. The data is not transferred.
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: A

NEW QUESTION # 75
A new Oracle Fusion Cloud client needs to produce an income statement on a regular basis using Smart View.
Which Smart View tool would be best for this?

A. Smart Queries
B. Smart Slices
C. Account Groups
D. Query Designer

Answer: D

Explanation:
Query Designer is a Smart View tool that enables you to create and modify ad hoc queries on General Ledger balances cubes. You can use Query Designer to select the dimensions, members, and filters that you want to include in your query, and then retrieve the data in a grid format in Excel. You can also save, open, and refresh your queries as needed. Query Designer is the best tool for producing an income statement on a regular basis using Smart View, because it allows you to easily access and analyze the income and expense accounts, as well as the ledger, period, currency, and other dimensions that are relevant for your report. You can also customize the layout and format of your grid, and use Excel functions and features to enhance your report. References:
* Overview of Smart View
* Creating an Ad Hoc Analysis in Smart View

NEW QUESTION # 76
......

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1z0-1054-24 Certification Test Answers, 1z0-1054-24 Lead2pass

Oracle 1z0-1054-24 Exam Syllabus Topics:

2025 The Best 100% Free 1z0-1054-24 – 100% Free Certification Test Answers | Oracle Financials Cloud: General Ledger 2024 Implementation Professional Lead2pass

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q71-Q76):

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