[Oct-2022] Oracle 1Z0-1054-21 Dumps – Reduce Your Chance of Failure in 1Z0-1054-21 Exam
To help you achieve your ultimate goal, we suggest the actual Oracle 1Z0-1054-21 dumps for your Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam preparation to use as your guideline.
NEW QUESTION 70
Your company has complex consolidation requirements with multiple general ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your general ledger segment to a Hyperion FinancialManagement segment, such as Company to Entity, Department to Department, and Account to Account. What happens to segments in your source general ledger, such as Program, that cannot be mapped to Hyperion Financial Management?
- A. The unmapped segments default to future use segments in Hyperion Financial Management
- B. Errors occur for unmapped segments. You must map multiple segments from source general ledgers to the target segment in Hyperion Financial Management
- C. No data is transferred
- D. Data is summarized acrosssegments that are not mapped to Hyperion Financial Management
Answer: B
NEW QUESTION 71
You want to automatically port journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria? (Choose two.)
- A. Create your AutoPost criteria using minimal sources and categories
- B. Schedule your AutoPost Criteria set to run during off-peak hours only
- C. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
- D. Include all of your subledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times
Answer: C,D
NEW QUESTION 72
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?
- A. Application Developer Framework Desktop Integrator
- B. The budget journal spreadsheet
- C. Enterprise Resource Budget Integrator
- D. File Based Data Import
Answer: A
NEW QUESTION 73
You need to build a complex account rule. Which four value types can you use in your definition?
- A. Source
- B. Value Set
- C. Constant
- D. Mapping Set
- E. Existing Account Rule
- F. Account Combination
Answer: B,E,F
Explanation:
Account Rules Account rules are used to determine the accounts for subledger journal entry lines. In addition, you can specify the conditions under which these rules apply. Using these capabilities, you can develop complex rules for defining accounts under different circumstances to meet your specific requirements. You can define account rules for an account, segment, or value set. Account Rules by Account Define account rules by account to determine the entire account combination. For example, an account rule defined by account can be used to determine the complete supplier liability account in Oracle Fusion Payables. Account Rules by Segment Define segment rules to derive a specific segment of the general ledger account. For example, a particular segment like the company segment can be determined from the distribution account. Another segment can be determined with the use of a constant value. Creating the account one segment at a time offers greater flexibility, but also requires more setup. Use both segment based and account based rules to derive a single account. Segment- specific rules are used, where they are defined, and take the remaining values from an account-based rule. For example, you can use an account rule which is for all segments and also separately use a rule which is for one particular segment. Segment-specific rules take precedence over the all segments account based rule. Combine account rules with segment rules. In this case, the segment value is derived from the segment rule to override the corresponding segment of the account. If the segment rule has conditions associated with the priorities and none are met, no override occurs and the segment value is derived from the account rule. Note: If the returned account is end dated with a date that is the same or before the subledger journal entry accounting date, and an alternate account is defined in the general ledger, the alternate account is used. The original account is stored on the journal line for audit purposes If the alternate account is invalid, and the Post Invalid Accounts to Suspense Account option is selected in the Create Accounting process, then a suspense account is used. An error message is displayed if a valid suspense account is not available. Account Rules by Value Sets In the absence of a chart of accounts, you may define account rules based upon value sets. This enables you to share the same rule between more than one chart of accounts if the segments in these charts of accounts share the same value set. Sharing Account Rules across Applications You may share account rules across applications in the following ways. Assign an account rule from the same or a different application to a journal line rule in the subledger journal entry rule set. For example, to derive an expense account for journal line rule Expense, assign the Projects Cost Account rule owned to the Payables journal line rule Expense. Create an account rule based on an account rule from another application and assign it to a journal line rule. For example, you may create an account rule Invoice Expense Account referencing Project Cost Account assigned in the Priorities region. You may attach the Invoice Expense Acco
https://docs.oracle.com/en/cloud/saas/financials/20b/faisl/subledger-accounting- setup.html#FAISL212668
NEW QUESTION 74
You want toprevent intercompany transactions from being entered during the last day of the close. What should you do?
- A. Close Intercompany periods in Fusion Intercompany
- B. Close all subledger periods
- C. Close the General Ledger period in the Manager Accounting Periods page
- D. Freeze the Intercompany journal source in General Ledger
Answer: A
NEW QUESTION 75
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 balancing and clearing options will need to be defined. Z
- C. Additional intercompany rules will need to be defined for the two additional balancing segment
- D. Every journal where debits do not equal credits across the three balancing segments will need
Answer: B,D
Explanation:
https://docs.oracle.com/cd/E25054_01/fusionapps.1111/e20375/F569979AN6EF6E.htm#F569450AN70
1B8
NEW QUESTION 76
Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).
Which represents the appropriate upload steps?
- A. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
- B. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.
- C. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.
- D. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.
Answer: A
NEW QUESTION 77
All of your subsidiaries can share the same ledger with their parent company and all reside onthe same application instance.
They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?
- A. Use General Ledger's Balance Transferprograms to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
- B. Use Oracle Hyperion Financial Management for this type of complex consolidation
- C. Define multiple ledgers for consolidation and report on ledger set
- D. Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
Answer: D
NEW QUESTION 78
Your client has been using Budgetary Control for six months. Now, they want to use the: spend Authorization After opting in the new feature Spend Authorization with Budgetary Control, what additional field actions need to be accomplished to activate this feature? .
- A. Enable spend authorization
- B. Create a Payment Process Profile
- C. Rebuild the Budgetary Control Cube.
- D. Enable Payment Request Subtypes
- E. Rebuild the GL Balances Cube
Answer: A,C,D
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/20d/faiex/spend-authorizations.html#FAIEX3340225
NEW QUESTION 79
Your customer has a large number of legal entities. The legal entity values are defined in the company segment which representsthe primary balancing segment. They want to easily create eliminating entries for their intercompany activity. What would you recommend?
- A. 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
- B. 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
- C. 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
- D. 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
Answer: D
NEW QUESTION 80
What are the two purposes of a secondary ledger? (Choose two.)
- A. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
- 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 should only be used to main balances for processing performance
- D. It is used to main balances in a different currency only
- E. It should not be used when trying to meet local accounting requirements
Answer: A,B
NEW QUESTION 81
Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority. What should be implemented for this type of security?
- A. Cross-Validation Rules
- B. Role-Based Access
- C. Segment Value Security
- D. Data Access Sets
Answer: C
NEW QUESTION 82
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. Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
- B. Define the company segment only and qualify it as both primary balancing segment and intercompany segment.
- C. Define Two Different Chart of Accounts
- D. Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
Answer: A
NEW QUESTION 83
Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use?
- A. Balancing Segment Value Assignment to Legal Entities
- B. Data Access Sets using an Access Set Type of Primary Balancing Segment
- C. Cross-Validation Rules
- D. Segment Value Security
Answer: B,D
Explanation:
https://docs.oracle.com/cd/E18727_01/doc.121/e13620/T450006T450009.htm
NEW QUESTION 84
Which repot show you differences between your subledger balances and General Ledger balances?
- A. Payables to Ledger Reconciliation Report and the Receivables to Ledger Reconciliation Report
- B. Payables Trial Balance, Receivables Trial Balance, and General Ledger Trial Balance reports
- C. General Ledger Financial Statements and the Accounts Payable and Accounts Receivables Invoice Registers
- D. Payables and Receivables Aging Reports with the General Ledger Trial Balance report
Answer: A
NEW QUESTION 85
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. 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
- B. No change
- C. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
- D. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
Answer: A,C
NEW QUESTION 86
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
- C. Each product has its own Intercompany Accounting feature that needs to be configured separately
- D. In Financials Cloud, Intercompany Balancing Rules are usedto balance both cross-ledger allocation journals and single-ledger journals
Answer: C,D
NEW QUESTION 87
Your enterprise structure has one ledger and two businessunits. 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. While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
- C. Define budgetary control at ledger level and only encumbrance control at the business units
- D. Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
- E. Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
- F. While defining control for business unit one, enable control at purchasing and definethe exceptions to only include requisitioning
Answer: A,E
NEW QUESTION 88
After loading your budget data into General Ledger Cloud, you can view budget balances using these features.
Which feature does not belong on the list?
- A. Account Inspector
- B. Smart View
- C. Application Development FrameworkDesktop Integration Budget Balances Report
- D. Account Monitor
Answer: C
NEW QUESTION 89
Your customer has three legalentities, 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 three segments for the company, department, and natural account. 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 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 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.
Answer: C
NEW QUESTION 90
All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What is Oracle's recommended approach to performing consolidations?
- A. Use General Ledger's Financial Reporting functionality to produce reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
- B. Use Oracle Hyperion Financial Management for this type of complex consolidation
- C. Define multiple ledgers for consolidation and report on ledger set
- D. Use General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger.
Answer: A
NEW QUESTION 91
You want to achieve multi-step cascading allocations, which feature do you use?
- A. General Ledger journal entries
- B. Point of View (POV)
- C. RuleSets
- D. Formulas
Answer: C
NEW QUESTION 92
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India). a Which three labels are required when designing the chart of account structure for the Project.
- A. Secondary Balancing
- B. Cost center
- C. Natural Account _
- D. Primary Balancing
- E. Intercompany Segment -
Answer: B,C,D
NEW QUESTION 93
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