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Oracle 1Z0-1054-21 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

Question #1
you need to define a chart of accounts includes a intercompany segment. Your customer plans to use segment value security rules for the company segment. What is Oracle's recommended method to define this chart of accounts?

A. Define Two Different Chart of Accounts
B. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
C. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
D. Define the company segment only and qualify it as both primary balancing segment and intercompany segment.

Question #2
You are creating financial Statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results. How would you achieve this? (Choose Two)

A. Use Smart View, which is and Excel Add-on
B. when designing your financial statement using financial report (FR), embed a chart into your report.
C. When viewing the report, download to Excel and use Excel's charting features to create your bar graph
D. use Account Inspector that automatically creates graphs on financials balances

Question #3
Your Customer has three legal entities, 50 Departments, and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing: a new chart of accounts? How many segments and what segment qualifiers should be used?

A. Define Three segments for the company, department, and natural accounts, the qualifiers should be primary balancing segment, cost center segment, and natural account segment, respectively
B. Define Three segments for the company, department, and natural accounts. The qualifiers should be primary balancing segment, intercompany segment, cost center segment, and natural account segment, respectively
C. Define five segments for the company, department, natural account, intercompany segment and future segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment, intercompany segment an no qualifier respectively.
D. Define four segments for the company, department, natural account and intercompany segment. The qualifiers should be primary balancing segment , cost center segment, natural account segment and intercompany segment respectively

Question #4
In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)

A. Financial Reporting Studio
B. Oracle Transactions Business Intelligence
C. Oracle Enterprise Repository
D. Application Composer
E. Smart View

Question #5
You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

A. Use the Rapid Implementation spreadsheet when creating your enterprise structure
B. Use HCM's Enterprise Structure Configurator (ESC) first
C. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
D. Deploy your chart of accounts
E. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets

Solutions: