Oracle 1Z0-1054-21 dumps torrent : Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

Exam Code: 1Z0-1054-21
Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Updated: Sep 14, 2026 Q & A: 136 Questions and Answers

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

Section	Objectives
Topic 1: Security and Configuration	- Roles and access 1. Security setup - Implementation setup tasks 1. Setup Financials Cloud
Topic 2: Enterprise Structures and Setup	- Chart of Accounts 1. Value sets and segments 2. COA structure design - Ledger configuration 1. Primary ledger setup 2. Secondary ledgers
Topic 3: Subledger Accounting	- Accounting rules 1. Journal line rules 2. Account derivation rules - Event processing 1. Accounting events
Topic 4: Period Close Process	- Financial reporting 1. Trial balance and reports - Close activities 1. Reconciliations 2. Adjustments and accruals
Topic 5: Journal Processing	- Manual journals 1. Recurring journals 2. Journal creation and approval - Journal imports 1. Spreadsheet uploads 2. File-based data import (FBDI)

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

Question #1

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Account Monitor
B. Financial Reports with Embedded charts
C. Smart View
D. Account Inspector and its charts

Reveal Solution Discussion 0

Correct Answer: A 🗳️

Question #2

You want to define a tree or hierarchy for use in reports and allocations. What three aspects should you remember when creating the tree

A. You need to flatten the rows to be able to use drilldown in Smart View and you must publish tree to view the hierarchy in Essbase cubes
B. The tree should have at least two tree versions to reduce report and allocation maintenance
C. It is fine to have the same child value roll up to two or more different parent values
D. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI)
E. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes

Reveal Solution Discussion 0

Correct Answer: B,C,E 🗳️

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Question #3

Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)

A. you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.
B. All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules
C. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
D. You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories

Reveal Solution Discussion 0

Correct Answer: B,C 🗳️

Question #4

Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order. The invoice was entered on 5/5/16, but the invoice accounting date was
4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated
5/5/16.What is causing this?

A. The actual accounting date was set up under the encumbrance accounting Default Date Rule
B. The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule
C. The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
D. The sub ledger accounting option is set to system date

Reveal Solution Discussion 0

Correct Answer: C 🗳️

Question #5

Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

A. When entering journals manually, the customer will need to make sure that debits and credits
B. Additional intercompany rules will need to be defined for the two additional balancing segment
C. Every journal where debits do not equal credits across the three balancing segments will need
D. Additional intercompany balancing and clearing options will need to be defined. Z

Reveal Solution Discussion 0

Correct Answer: C,D 🗳️

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