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Hot Latest 1z0-1054-24 Test Format 100% Pass | Reliable 1z0-1054-24 Test Answers: Oracle Financials Cloud: General Ledger 2024 Implementation Professional

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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

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 3

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 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

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 (Q84-Q89):

NEW QUESTION # 84
Your company wants to change theCumulative Translation Adjustment (CTA) accountto record gains
/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?

A. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
B. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required.The system will automatically update the translated balances.
C. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.
D. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.

Answer: D

NEW QUESTION # 85
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. Account Groups
B. Smart Slices
C. Query Designer
D. Smart Queries

Answer: C

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 # 86
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 # 87
You have a requirement to have invoices generated for certain Intercompany transactions.
Where do you enable invoicing?

A. the transaction batch
B. the transaction source
C. the transaction type
D. the transaction category

Answer: C

Explanation:
According to Oracle documentation2, you enable invoicing for certain Intercompany transactions on the transaction type. The transaction type defines the characteristics of an intercompany transaction, such as whether it requires approval, whether it generates invoices, and what accounting rules apply. You can enable invoicing for a transaction type by selecting the Invoicing Options tab and choosing the invoice method, invoice source, invoice batch source, and invoice rule. Therefore, option D is correct. Option A is incorrect because you do not enable invoicing on the transaction batch. Option B is incorrect because you do not enable invoicing on the transaction category. Option C is incorrect because you do not enable invoicing on the transaction source.

NEW QUESTION # 88
What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

A. Set the status of a tree to active.
B. View information for runtime performance.
C. Verify correctness of trees.
D. Optimize parent/child relationships.
E. Create additional versions of a tree.

Answer: A,C

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 # 89
......

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