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Introduction to Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Administrator Exam
An Oracle Financials Cloud: a trained development professional from General Ledger 2020, has a clear foundation and experience in the sale or deployment of Oracle Financials Cloud Resources. Themes such as: general configuration, market processes, journal production, sub-processing, inter-company processing, monitoring & dashboards, closing time and budgetary control & encumbrance are included in the qualification test. We suggest up-to-date preparation and field knowledge.
To obtain these certifications, this examination must be passed. Click each title below to see the complete criteria. Cloud infrastructure is always changing. Oracle publishes periodically practice, in accordance with quality updates and requirements for qualification. Before sitting, review the analysis topics to ensure you are prepared for 1z0-1054-20 practice exams. The best preparation for the exam is a combination of Oracle training and hands-on practice of 1z0-1054-20 practice tests.
NEW QUESTION 18
You need to create a boardroom ready 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.
What are the two Oracle recommended ways to accomplish this? (Choose two.)
- A. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
- B. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- C. Use a report batch to run reports at a specific time to create a set of snapshot reports
- D. Use OTBI to create multiple reports that you save to a folder that only the users can access
- E. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
Answer: A,C
NEW QUESTION 19
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. Enterprise Resource Budget Integrator
- B. File Based Data Import
- C. Application Developer Framework Desktop Integrator
- D. The budget journal spreadsheet
Answer: C
NEW QUESTION 20
You are setting up Close Monitor, which compromises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)
- A. Chart of Accounts and Business Units
- B. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
- C. Legal Entities, Business Units, and Chart of Accounts
- D. Accounting Calendar
- E. Chart of Accounts
Answer: D,E
NEW QUESTION 21
What is the most efficient way to add a new year to the accounting calendar?
- A. Add the periods manually
- B. The application automatically populates the next year when you open the first period of a new fiscal year
- C. Import the periods from a spreadsheet
- D. Use the Add Year button
Answer: D
NEW QUESTION 22
Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)
- A. While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving
- B. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- C. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- D. Define budgetary control at ledger level and only encumbrance control at the business units
- E. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- F. While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
Answer: A,C
NEW QUESTION 23
Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?
- A. In Financials Cloud, you must manually reconcile your intercompany account balances
- B. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance
- C. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances
- D. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances
- E. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances
Answer: B
Explanation:
Explanation
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_9DAAC7706212CF48E040D30A6881766A
NEW QUESTION 24
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform? (Choose two.)
- A. Define Supporting References with balances
- B. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger
- C. Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions
- D. Define Journal Conversion Rules that exclude subledgers
- E. Assign a Subledger Accounting Method to the secondary ledger
Answer: C,E
NEW QUESTION 25
You need to set up a calendar for fiscal year Apr-XX to March-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What Calendar format should you choose?
- A. Fiscal
- B. Period
- C. Year
- D. Calendar
Answer: B
NEW QUESTION 26
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. $400 USD will be added back to available funds
- B. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of
$400 USD - C. Only obligation type will have $400 USD funds available
- D. Invoice type will have less funds available by $400 USD
- E. $400 USD will be expired and not available for use
Answer: E
NEW QUESTION 27
Which three objectives must be considered when designing the chart of accounts? (Choose three.)
- A. Anticipate growth and maintenance needs as organizational changes occur
- B. Consider implementing a single, global chart of accounts
- C. Effectively manage an organization's financial business
- D. Try to use all 30 segments and 25 characters per segment because you cannot change it later
- E. Limit the number of segments to those you need today to reduce data entry
Answer: A,B,C
NEW QUESTION 28
You entered a journal and the client is asking for the following information:
* The current account balance
* The future account balance if the journal is approved and posted
How will you get this information?
- A. Run a Trial Balance before and after posting
- B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
- C. Query the account balance online
- D. View the Projected Balances region in the Create Journals page
Answer: D
Explanation:
Explanation/Reference:
NEW QUESTION 29
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice
- B. When the purchase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the extent of the unreceived amount
- C. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount
- D. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
Answer: A,B
NEW QUESTION 30
Your Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three.)
- A. Sunburst reports
- B. Account Inspector
- C. Account Monitor
- D. Online Transactional Business Intelligence
- E. Smart View
Answer: B,C,E
NEW QUESTION 31
You are creating values for the chart of account value set that you are planning to use for the account segment within your Chart of Accounts.
You are not able to assign an Account Type. What is the reason for this?
- A. The Account Type qualifier has not been enabled when defining the value set
- B. You have not set the Allow Budgeting attribute for the value set
- C. You have not set the Allow Posting attribute for the value set
- D. You are creating values before assigning the value set to the structure
Answer: C
NEW QUESTION 32
You entered the following information in the Companies and Legal Entities tab of the Rapid Implementation Spreadsheet:
Assuming currency is left blank in the Ledger worksheet, how many Ledgers will the process create?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 33
Which reporting tool is best suited for submitting high-volume transactional reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?
- A. Financial Reporting Center
- B. Oracle Data Visualization Cloud Service
- C. Business Intelligence Publisher (BI Publisher)
- D. Smart View
- E. Oracle Transactional Business Intelligence (OTBI)
Answer: C
NEW QUESTION 34
You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?
- A. The budget and funds available will increase by USD 100
- B. The budget will increase by USD 100 and the funds available will decrease by USD 100
- C. Funds available will change when the invoice is approved
- D. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD
100
Answer: D
NEW QUESTION 35
Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)
- A. Clearing companies are not supported
- B. You must map legal entities to balancing segment values in order to use a clearing company
- C. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
- D. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
- E. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
Answer: C,D,E
NEW QUESTION 36
What are the two purposes of a secondary ledger? (Choose two.)
- A. It should not be used when trying to meet local accounting requirements
- B. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
- C. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
- D. It is used to main balances in a different currency only
- E. It should only be used to main balances for processing performance
Answer: B,C
NEW QUESTION 37
You entered a journal and the client is asking for the following information:
* The current account balance
* What the future account balance will be if the journal is approved and posted How will you get this information?
- A. Run a Trial Balance before and after posting
- B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
- C. Query the account balance online
- D. View the Projected Balances region in the Create Journals page
Answer: D
NEW QUESTION 38
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which represents the primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules to define
- B. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
- C. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment which the balancing segment value of the legal entity with which you are trading
- D. There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner
Answer: C
NEW QUESTION 39
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Average Salary for Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Exam Certified Professional
Oracle cloud administrator roles are in great demand nowadays. Oracle 1z0-1054-20 exam certified professionals earn an average salary in:
- United State - 92,000 USD
- India - 70,95,000 INR
- England - 71,555 POUND
- Europe - 85,500 Euro
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