1Z0-1054-23 Practice Online

Question 1

Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization.

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After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions

need

to be accomplished to activate this feature? (Choose three.)

A : Enable Payment Request Subtypes

B : Rebuild the GL Balances Cube

C : Create a Payment Process Profile

D : Rebuild the Budgetary Control Cube

E : Enable spend authorization

Answer: A,D

Question 2

On which three occasions are Essbase balances updated? (Choose three.)

A : every time the tree version is published

B : every time you run the batch program called “Update Essbase Balances”

C : every time you open a new period

D : every time journals are posted to the general ledger

E : at report run-time

Answer: B,C,D

Question 3

What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle

Business Intelligence Applications (OBIA)? (Choose three.)

A : Cloud customers can use both OTBI and OBIA

B : OTBI allows you to create custom reports from real-time transactional data against the database directly

C : OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.

D : Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.

E : OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

Answer: A,B,C

Question 4

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle’s recommended approach to performing consolidations?

A : Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

B : Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

C : Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.

D : Use Oracle Hyperion Financial Management for this type of complex consolidation.

Answer: A

Question 5

A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal

reports under local GAAP, is about to configure their General Ledger.

Given the following:

Subledgers transferring to general ledger must use the local currency.

There is a requirement to report to the parent company (not local currency) using International Financial

Reporting Standards (IFRS).

Which two ledger types should be configured to address this reporting requirement? (Choose two.)

A : a primary ledger with the local accounting convention

B : a reporting currency with the IFRS accounting convention

C : a primary ledger with the IFRS accounting convention

D : a secondary ledger with the IFRS accounting convention

E : a reporting currency with the local accounting convention

Answer: A,C

Name:	Oracle Financials Cloud: General Ledger 2023 Implementation Professional
Exam Code:	1Z0-1054-23
Certification:	Oracle Cloud
Vendor:	Oracle
Total Questions:	149
Last Updated:	Jun 24, 2024

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