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Candidates will be evaluated based on their knowledge of financial accounting, business processes, and their ability to configure General Ledger accounts, perform transactions, and generate financial statements using the Oracle Financials Cloud program. Additionally, the Oracle 1z0-1054-22 exam addresses real-world accounting scenarios, testing candidates' skills against practical situations often encountered in day-to-day operations. 1z0-1054-22 exam will assess a candidate's skill set on budget creation, transfer of assets, and procurement of goods and services, among other aspects of financial accounting. Passing 1z0-1054-22 exam and obtaining the certification demonstrates that the individual is a professional in General Ledger implementation using Oracle Financials Cloud.
NEW QUESTION # 46
You have set up a supporting reference with balances to capture revenue by account manager.
Which option should you use to view the supporting reference balances?
- A. a SmartView analysis
- B. General Ledger inquiries and reports
- C. an OTBI analysis
- D. an Account Group
Answer: C
Explanation:
Reference:
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NEW QUESTION # 47
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
- A. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
- B. Cloud customers can use both OTBI and OBIA
- C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
- D. OTBI allows you to create custom reports from real-time transactional data against the database directly
- E. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
Answer: A,C,D
Explanation:
Reference:
OTBI and OBIA are two different types of business intelligence solutions offered by Oracle. OTBI is a real-time reporting tool that allows you to create custom reports and dashboards from transactional data in Oracle Cloud Applications. OTBI queries the database directly and does not require any data warehouse or ETL processes. OBIA is a prebuilt analytics solution that uses a universal data warehouse design and different adapters to connect to various source applications, such as E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications. OBIA provides a set of predefined reports and dashboards based on best practices and industry standards. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 48
In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)
- A. Oracle Transactions Business Intelligence
- B. Financial Reporting Studio
- C. Smart View
- D. Oracle Enterprise Repository
- E. Application Composer
Answer: A,B,C
NEW QUESTION # 49
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
- A. Only obligation type will have $400 USD funds available
- B. Invoice type will have less funds available by $400 USD
- C. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD
- D. $400 USD will be expired and not available for use
- E. $400 USD will be added back to available funds
Answer: D
NEW QUESTION # 50
You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions.
What should you configure?
- A. the Transaction Account Definition
- B. a Provider and Receiver distribution set
- C. Intercompany transaction type default accounts
- D. the AutoAccounting Definition
Answer: B
NEW QUESTION # 51
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)
- A. This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
- B. This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.
- C. You can only drill down to the general ledger journal and then from there to the subledger journal entry.
- D. This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- E. This report displays the intercompany receivables and intercompany payables balances in summary for a period.
Answer: A,D
Explanation:
According to Oracle documentation3, the following statements are true regarding the Intercompany Reconciliation Report: This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison, and this report includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not. The Intercompany Reconciliation Report enables you to reconcile your intercompany receivables and payables accounts, and identify any missing transactions. This report is automatically generated when you run the Prepare Intercompany Reconciliation Information process. Therefore, options B and D are correct. Option A is incorrect because you can drill down to the general ledger journal, subledger accounting entry, and source receivables or payables transaction. Option C is incorrect because this report displays both the reconciled and unreconciled transactions. You can use automatic reconciliation or manual reconciliation to reconcile the unreconciled transactions.
NEW QUESTION # 52
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?
- A. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.
- B. CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table
- C. Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
- D. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
Answer: B
Explanation:
cross-validation rules only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table. Therefore, option C is correct. Option A is incorrect because deactivating the value will not prevent further usage of the invalid account combination. Option B is incorrect because cross-validation rules are not assigned to the end user role. They are defined at the chart of accounts level. Option D is incorrect because cross-validation rules do not automatically disable that account code combination.
NEW QUESTION # 53
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)
- A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
- B. Use a report batch to run reports at a specific time to create a set of snapshot reports
- C. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- D. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- E. Use OTBI to create multiple reports that you save to a folder that only the users can access
Answer: B,D
NEW QUESTION # 54
What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA)? (Choose three.)
- A. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications
- B. Cloud customers can use both OTBI and OBIA
- C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.
- D. OTBI allows you to create custom reports from real-time transactional data against the database directly
- E. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.
Answer: A,C,D
NEW QUESTION # 55
You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?
- A. Report Functions
- B. Drill Through in Grid Properties
- C. Allow Expansion
- D. Nothing. All report balances are drillable in all FR Studio reports
Answer: B
NEW QUESTION # 56
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)
- A. You must assign the job role and data security context to each user
- B. A Data Access Set with full read/write access to the ledger is automatically created
- C. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
- D. You must re-deploy the chart of accounts
Answer: A,B
NEW QUESTION # 57
Which delivered role can access the full functionality of Functional Setup Manager?
- A. Any functional user
- B. Functional Setup Manager Superuser
- C. Application Implementation Consultant
- D. Application Implementation Manager
- E. IT Security Manager
Answer: D
Explanation:
According to Oracle documentation2, the delivered role that can access the full functionality of Functional Setup Manager is Application Implementation Manager. Functional Setup Manager is a tool that enables you to manage and perform all of the setup tasks required for an application implementation. Application Implementation Manager is a predefined role that grants access to Functional Setup Manager and all of its features, such as setup tasks, implementation projects, setup export and import, and setup reports. Therefore, option A is correct. Option B is incorrect because Functional Setup Manager Superuser is not a delivered role. Option C is incorrect because IT Security Manager is a role that grants access to security-related tasks, not Functional Setup Manager. Option D is incorrect because any functional user does not have access to Functional Setup Manager by default. Option E is incorrect because Application Implementation Consultant is not a delivered role.
NEW QUESTION # 58
Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?
- A. Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, and intercompany segment, respectively.
- B. Define three segments for the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
- C. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
- D. Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively.
Answer: C
Explanation:
"A chart of accounts segment is a component of the account combination. Each segment has a value set attached to it to provide formatting and validation of the set of values used with that segment." The qualifiers are used to identify the segments for reporting and processing purposes2. In this case, the company segment should be the primary balancing segment, which is used to balance journal entries and create trial balances. The department segment should be the cost center segment, which is used to track costs by organizational units. The natural account segment should be the natural account segment, which is used to classify transactions by account type. The intercompany segment should be the intercompany segment, which is used to identify transactions between different legal entities or business units.
NEW QUESTION # 59
You have enabled budgetary control and have a control budget set to Advisory control level. For September 2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)
- A. No change
- B. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
- C. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
- D. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
- E. Purchase order encumbrance will be released for $2,100 USD
Answer: D,E
NEW QUESTION # 60
During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
- A. Delete the segment and create a new segment with the correct qualifier.
- B. Change and save the segment qualifier.
- C. Create a new chart of accounts.
- D. Delete the chart of accounts and create a new one.
Answer: B
Explanation:
The process that allows you to change the qualifier back to cost center qualifier after a consultant accidentally designated the cost center segment as the natural account is to change and save the segment qualifier. You can change the segment qualifier using the Manage Chart of Accounts Structures task in Setup and Maintenance. You can only change segment qualifiers before deploying flexfield metadata changes for validation and activation. You do not need to create a new chart of accounts, as this is not necessary and will increase complexity and maintenance. You do not need to delete the segment and create a new segment with the correct qualifier, as this will affect existing values and journals. You do not need to delete the chart of accounts and create a new one, as this will affect existing structures and instances. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12
NEW QUESTION # 61
You are creating financial statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding financial results. How would you achieve this?
- A. When viewing the report, download to Excel and use Excel's Charting features to create your bar graph
- B. When designing your financial statement using Financial Report (FR), embed a chart into your report
- C. Use Account Inspector that automatically creates graphs on financial balances
- D. Use Smart View, which is an Excel Add-on
Answer: B
Explanation:
Financial Report (FR) is a tool that allows you to create financial statements and reports using data from General Ledger Cloud. FR supports embedding charts into your reports to enhance the presentation and understanding of financial results. You can choose from different types of charts, such as bar graphs, pie charts, line graphs, etc., and customize their appearance and properties. You can also link the charts to the report data and drill down to the underlying details. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Create Financial Reports 12
NEW QUESTION # 62
How can your Accounting Manager expedite journal processing during the time-critical month-end close?
- A. by using the Close Status monitor to drill down on the close status across ledgers
- B. by running the Journals report using Business Intelligence Publisher
- C. by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)
- D. by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other
Answer: D
Explanation:
Your Accounting Manager can expedite journal processing during the time-critical month-end close by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other. The Journals region provides a dashboard view of the journals that need attention or approval from the user or other users. The user can quickly review and approve journals from this region or drill down to the journal details for more information. The user can also filter journals by status, source, category, or period. Creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI) is not an efficient way to expedite journal processing, as this involves creating a custom report that may not provide all the necessary information or actions for journal approval. Running the Journals report using Business Intelligence Publisher is not an efficient way to expedite journal processing, as this involves running a predefined report that may not provide all the necessary information or actions for journal approval. Using the Close Status monitor to drill down on the close status across ledgers is not an efficient way to expedite journal processing, as this involves viewing the overall status of the close process across different ledgers and subledgers, but not the individual journals that need attention or approval. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Journal Approval 12
NEW QUESTION # 63
Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)
- A. Detach the table to resize it to the maximum size of the monitor.
- B. Run a Business Intelligence Publisher report with Excel as the output format
- C. Use the Freeze feauture on the tables to scroll through large amounts of data
- D. Export the table to Excel
Answer: C,D
Explanation:
you can use the Freeze feature on the tables to scroll through large amounts of data. The Freeze feature allows you to lock one or more columns or rows so that they remain visible as you scroll through the table. Therefore, option A is correct. You can also export the table to Excel to view large amounts of data. The Export feature allows you to download the table data as an Excel file that you can open and manipulate offline. Therefore, option C is correct. Option B is incorrect because running a Business Intelligence Publisher report with Excel as the output format will not help you view large amounts of data contained in the tables in your work areas. Option D is incorrect because detaching the table to resize it to the maximum size of the monitor will not help you view large amounts of data contained in the tables in your work areas.
NEW QUESTION # 64
You want to specify Intercompany System Options. Which three factors should you consider? (Choose three.)
- A. the approvers who will approve intercompany transactions
- B. automatic or manual batch numbering and the minimum transaction amount
- C. whether to allow receivers to reject intercompany transactions
- D. whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
- E. automatic or manual batch numbering and the maximum transaction amount
Answer: A,C,D
Explanation:
The Intercompany System Options page allows you to specify various settings for intercompany transactions, such as whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies, whether to allow receivers to reject intercompany transactions, and the approvers who will approve intercompany transactions3.
NEW QUESTION # 65
The Create Accounting program could not determine the debit side of the journal entry.
Which component of Subledger Accounting determines the debit or credit side of a journal entry?
- A. Journal Line Rule
- B. Journal Accounting Rule
- C. Journal Entry Rule Set
- D. Journal Balances Rule
- E. Account Rule
Answer: C
NEW QUESTION # 66
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets.
What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Chart of Accounts
- B. Supporting Reference
- C. Account Rules
- D. Journal Line Rules
- E. Accounting Date
Answer: B,C,D
Explanation:
According to Oracle documentation3, the subcomponents of a Subledger Journal Entry Rule Set are Journal Line Rules, Account Rules, and Supporting Reference. A Subledger Journal Entry Rule Set defines how subledger journal entries are created for each event class and event type. A Journal Line Rule defines how subledger journal lines are created for each event class and event type. An Account Rule defines how accounts are derived for each journal line. A Supporting Reference stores additional information for journal lines. Therefore, options C, D, and E are correct. Option A is incorrect because Accounting Date is not a subcomponent of a Subledger Journal Entry Rule Set. Option B is incorrect because Chart of Accounts is not a subcomponent of a Subledger Journal Entry Rule Set.
NEW QUESTION # 67
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Oracle 1z0-1054-22 certification exam covers a wide range of topics related to financial management, including accounting, financial reporting, and financial analysis. 1z0-1054-22 exam is designed to test the candidate's ability to configure and use Oracle Financials Cloud: General Ledger 2022 to manage financial data, generate reports, and perform financial analysis.
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