Oracle 1z0-1054-23 Questions & Answers - in .pdf
- Total Q&A: 52
- Update: Aug 06, 2026
- Price: $59.99
- Vendor: Oracle
- Exam Code: 1z0-1054-23
- Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
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Oracle 1z0-1054-23 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|
| Intercompany Accounting | 15% | - Configure Intercompany
- 1. Enable intercompany invoicing
- 2. Process intercompany transactions and reconciliation
- 3. Set up intercompany balancing rules
|
| Period Close and Financial Reporting | 20% | - Financial Reporting
- 1. Create and run financial reports
- 2. Use Smart View for analysis
- 3. Analyze budgets versus actuals
- Perform Period Close
- 1. Manage accounting periods
- 2. Execute period close processes
- 3. Reconcile balances
|
| Ledgers and Accounting Setup | 25% | - Configure Ledgers
- 1. Define primary and secondary ledgers
- 2. Set up calendars, currencies, and accounting conventions
- 3. Configure ledger options and subledger accounting rules
- Budgetary Control and Encumbrance
- 1. Enable budgetary control
- 2. Define encumbrance accounting rules
|
| Enterprise and Financial Reporting Structures | 20% | - Configure Financial Reporting Structures
- 1. Create accounting hierarchies
- 2. Define reporting views and dimensions
- Configure Enterprise Structures
- 1. Set up chart of accounts structure and instances
- 2. Configure segment labels and value sets
- 3. Define legal entities and business units
|
| Journal Processing and Approval | 20% | - Manage Journals
- 1. Create, import, and post journals
- 2. Define allocation and recurring journals
- 3. Configure journal approval rules
|
Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
1. An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?
A) Ledger-level rule
B) Legal entity-level rule
C) Primary balancing segment rule
D) Chart of accounts rule
2. For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?
A) The existing historical rate is deleted.
B) Nothing, existing historical rates are not updated.
C) Historical rates are converted into an average rate (original and new rate).
D) The historical rate is replaced.
3. A new Oracle Fusion Cloud client needs to produce an income statement on a regular basis using Smart View.
Which Smart View tool would be best for this?
A) Smart Slices
B) Smart Queries
C) Account Groups
D) Query Designer
4. Task3
Manage Chart of Accounts Mappings
Scenario
Your client needs to consolidate their UK Ledger to the Canadian parent ledger. Each Chart of Accounts has the following segments:
Company-LoB-Account-Cost Center-Product-Intercompany
Know that the Company, LoB, Product, and Intercompany segments share the same value sets.
Create a Chart of Accounts mappings to map UK Chart of Accounts to CA Chart of Accounts that meets the following specifications:
Cost Center Mapping
. Balance Sheet (0 and 000) should be mapped to
Balance Sheet
. All other cost centers should be mapped to 610
Account Mapping
. Asset accounts (in the 1000 range) should be
mapped to account 11101
. Liability accounts (in the 2000 range) should be
mapped to account 22100
. Equity accounts (in the 3000 range) should be
mapped to account 34000
. Revenue accounts (in the 4000 range) should be
mapped to account 42000
. Expense accounts (from 5000 onwards) should be
mapped to account 51100
Note:
Do not use conditions based on parents.
. Treat any account after the 5000 range as an expense.
Ensure all maps are numeric only.
When creating your mapping rules for each segment
please allow for existing and future segment values
5. You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation.
Where do you reference the statistical balance within the allocation component?
A) Allocation Range
B) Basis
C) Target
D) Source
E) Offset
Solutions:
Question # 1
Answer: C | Question # 2
Answer: D | Question # 3
Answer: D | Question # 4
Answer: Only visible for members | Question # 5
Answer: D |
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