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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionWeightObjectives
Journal Processing and Approval20%- Manage Journals
  • 1. Create, import, and post journals
    • 2. Configure journal approval rules
      • 3. Define allocation and recurring journals
        Intercompany Accounting15%- Configure Intercompany
        • 1. Process intercompany transactions and reconciliation
          • 2. Enable intercompany invoicing
            • 3. Set up intercompany balancing rules
              Enterprise and Financial Reporting Structures20%- Configure Financial Reporting Structures
              • 1. Define reporting views and dimensions
                • 2. Create accounting hierarchies
                  - Configure Enterprise Structures
                  • 1. Set up chart of accounts structure and instances
                    • 2. Define legal entities and business units
                      • 3. Configure segment labels and value sets
                        Ledgers and Accounting Setup25%- Budgetary Control and Encumbrance
                        • 1. Enable budgetary control
                          • 2. Define encumbrance accounting rules
                            - Configure Ledgers
                            • 1. Set up calendars, currencies, and accounting conventions
                              • 2. Configure ledger options and subledger accounting rules
                                • 3. Define primary and secondary ledgers
                                  Period Close and Financial Reporting20%- Perform Period Close
                                  • 1. Execute period close processes
                                    • 2. Manage accounting periods
                                      • 3. Reconcile balances
                                        - Financial Reporting
                                        • 1. Analyze budgets versus actuals
                                          • 2. Create and run financial reports
                                            • 3. Use Smart View for analysis

                                              Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

                                              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

                                              Reveal Solution  Discussion  0

                                              Correct Answer:

                                              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 Chart of Accounts Mapping
                                              Select the source chart of accounts (UK) and the target chart of accounts (CA) that you want to map.
                                              Click on the Segment Rules tab to define the segment mapping rules. Enter the following information for each segment:
                                              Segment Number: 1
                                              Segment Name: Company
                                              Mapping Type: Value
                                              Source Value: *
                                              Target Value: *
                                              Segment Number: 2
                                              Segment Name: LoB
                                              Mapping Type: Value
                                              Source Value: *
                                              Target Value: *
                                              Segment Number: 3
                                              Segment Name: Account
                                              Mapping Type: Range
                                              Source From Value: 1000
                                              Source To Value: 1999
                                              Target Value: 11101
                                              Mapping Type: Range
                                              Source From Value: 2000
                                              Source To Value: 2999
                                              Target Value: 22100
                                              Mapping Type: Range
                                              Source From Value: 3000
                                              Source To Value: 3999
                                              Target Value: 34000
                                              Mapping Type: Range
                                              Source From Value: 4000
                                              Source To Value: 4999
                                              Target Value: 42000
                                              Mapping Type: Range
                                              Source From Value: 5000
                                              Source To Value: 99999999
                                              Target Value: 51100
                                              Segment Number: 4
                                              Segment Name: Cost Center
                                              Mapping Type: Value
                                              Source Value: 0
                                              Target Value: Balance Sheet
                                              Mapping Type: Value
                                              Source Value: 000
                                              Target Value: Balance Sheet
                                              Mapping Type: Value
                                              Source Value: *
                                              Target Value: 610
                                              Segment Number: 5
                                              Segment Name: Product
                                              Mapping Type: Value
                                              Source Value: *
                                              Target Value: *
                                              Segment Number: 6
                                              Segment Name: Intercompany
                                              Mapping Type: Value
                                              Source Value: *
                                              Target Value: *
                                              Click on the Save and Close button to save the segment mapping rules.
                                              You have successfully created a Chart of Accounts mapping for the given scenario.
                                              For more information, you can refer to the following resources:
                                              Overview of the Chart of Accounts Mapping Page
                                              Chart of Accounts Structures and Instances
                                              How To Create A Chart Of Accounts Mapping For A Secondary Ledger
                                              How To Bulk Upload The Mapping Rules In "Manage Chart of Accounts Mapping" Centralized Management of Chart of Accounts Configurations

                                              Which three factors should you consider while specifying Intercompany System options?

                                              • A. Automatic or manual batch numbering and the maximum transaction amount
                                              • B. Automatic or manual batch numbering and the minimum transaction amount
                                              • C. Approvers who will approve intercompany transactions
                                              • D. Whether to allow receivers to reject intercompany transactions
                                              • E. Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
                                              Reveal Solution  Discussion  0

                                              Correct Answer: B,D,E  🗳️

                                              Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).

                                              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 General Accounting Manager role to those users.
                                              • B. Assign the security context value of UK Ledger to the user/role combination.
                                              • C. Create a data access set that allows access to the UK Ledger.
                                              • D. Assign the UK reference set to the user/role combination.
                                              Reveal Solution  Discussion  0

                                              Correct Answer: C  🗳️

                                              Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).

                                              There is a business requirement for a subsidiary company to report to the parent company on a monthly basis.
                                              Given that:
                                              The subsidiary is in another country from the parent.
                                              There is no requirement to have daily balances.
                                              The objective is to minimize the data stored in the reporting currency.
                                              Which data conversion level should you recommend?

                                              • A. Journal Level
                                              • B. Subledger level
                                              • C. Spreadsheet level
                                              • D. Balances Level
                                              • E. Adjustment only level
                                              Reveal Solution  Discussion  0

                                              Correct Answer: D  🗳️

                                              Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).

                                              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. A value for the budget scenario is not created.
                                              • E. Transfer Budget Balances to Budget Cubes has not been run.
                                              Reveal Solution  Discussion  0

                                              Correct Answer: A,D  🗳️

                                              Explanation: Only visible for PrepAwayETE members. You can sign-up / login (it's free).

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