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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	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 4	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.
Topic 5	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.

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q57-Q62):

NEW QUESTION # 57
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 is updated.
B. The original journal entry in Euros remains the same.
C. You have an unrealized exchange loss recorded.
D. You have an unrealized exchange gain recorded.
E. There is no unrealized exchange gain or loss calculated.

Answer: B,C

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 # 58
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

A. Event Entities
B. Accounting Attributes
C. Transaction Objects
D. Mapping Sets

Answer: C

NEW QUESTION # 59
Which two are valid Data Access Set types? (Choose two.)

A. Full Ledger
B. Primary Balancing Segment Value
C. Read Only access
D. Full access
E. Read and Write access

Answer: C,D

Explanation:
The two valid Data Access Set types are Full access and Read Only access. A Data Access Set is a security feature that defines the access level that users have to ledger data, such as balances, budgets, or journals. A Data Access Set type is an attribute that determines the type of access that users have to ledger data within a Data Access Set. The two valid Data Access Set types are Full access and Read Only access. Full access allows users to view and enter data for ledger data within a Data Access Set. Read Only access allows users to view but not enter data for ledger data within a Data Access Set. Full Ledger is not a valid Data Access Set type, but an option that determines whether a Data Access Set grants access to all balancing segment values in a ledger or only specific balancing segment values. Primary Balancing Segment Value is not a valid Data Access Set type, but an attribute that identifies the legal entity or business unit for which financial statements are prepared and balanced. Read and Write access is not a valid Data Access Set type, but an alternative term for Full access. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12

NEW QUESTION # 60
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 General Accounting Manager role to those users.
C. Assign the UK reference set to the user/role combination.
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 # 61
You want your sales representatives to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?

A. Geocoding
B. HZ_GEO_IDENTIFIER_SUBTYPE Lookup
C. Validation
D. Address Cleansing

Answer: A

Explanation:
According to Oracle documentation1, you should enable geocoding to achieve the requirement of finding points of interest, such as customers, while out on business. Geocoding is the process of assigning geographic coordinates to a physical address. Geocoding enables you to use maps and location-based services to find and visualize points of interest. Therefore, option B is correct. Option A is incorrect because HZ_GEO_IDENTIFIER_SUBTYPE Lookup is not a feature that enables finding points of interest. Option C is incorrect because validation is not a feature that enables finding points of interest. Option D is incorrect because address cleansing is not a feature that enables finding points of interest.

NEW QUESTION # 62
......

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