Oracle 1z0-1054-23 : Oracle Financials Cloud: General Ledger 2023 Implementation Professional

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Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What format should you choose?

A) Year
B) Fiscal Year
C) Period
D) Calendar Year

2. Manage Chart of Accounts Structure and Instance
Scenario
Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5-segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts.
Task 1
Create a Chart of Accounts Structure and Instance for the following Chart of Accounts:

Note:
Prefix all your setups with 07, where 07 is your candidate ID
There is one balancing segment.
Choose the appropriate segment labels.
. For the purpose of this test there is no need to deploy the flexfield.
. Valid code combinations should be added to the Code Combination table automatically.
Shorthand aliases will not be implemented.
. Accept the defaults for the instance segments.

3. Which two statements are true about balances cubes in General Ledger?

A) New dimensions can be added to a General Ledger balances cube.
B) They are updated automatically when the General Ledger period is opened.
C) They are updated automatically when the Revaluation process is run.
D) A new balances cube is created for a unique combination of ledger and currency.
E) They are updated automatically when the Translation process is run.

4. You need to define a chart of accounts that includes an 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) Create two different value sets for the company and intercompany segments.
B) Define the company segment and assign both the primary balancing segment and intercompany segment labels.
C) Define the intercompany segment with a default value.
D) Share the same value set for the company and intercompany segments.

5. 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 Financial Management 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 across segments that are not mapped to Hyperion Financial Management.

Solutions: