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Oracle 1z0-1054-23 Exam Syllabus Topics:

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

1. Which delivered role can access the full functionality of Functional Setup Manager?

A) Application Implementation Consultant
B) IT Security Manager
C) Any functional user
D) Functional Setup Manager Superuser
E) Application Implementation Manager

2. 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?

A) Sub-ledger level.
B) Adjustment only
C) Balance level
D) Journal ledger

3. You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?

A) Rerun Revaluation and then rerun Translation.
B) Enter another adjusting journal entry in the target currency to true up the balances.
C) Translate only the adjusting journal entry.
D) Rerun Translation and then reconsolidate your results.

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

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

5. Which two statements are true regarding the Translation process? (Choose two.)

A) The Translation process should be run before posting Period Close adjustment entries.
B) The Translation process can only be used to translate balance sheet accounts.
C) If necessary, before submitting the Translation process, the Revaluation process should be completed.
D) Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.
E) The Translation process can only be used for translating the balances of Secondary ledgers.

Solutions: