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1z0-1054-22 PDF Dumps Real 2023 Recently Updated Questions [Q40-Q63]

1z0-1054-22 PDF Dumps Real 2023 Recently Updated Questions

Released Oracle 1z0-1054-22 Updated Questions PDF

Oracle 1z0-1054-22 Exam is designed for professionals who are interested in becoming Oracle Financials Cloud: General Ledger 2022 Implementation Professionals. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification exam is meant to test the candidate's knowledge of the latest Oracle Financials Cloud: General Ledger 2022 implementation techniques and best practices. 1z0-1054-22 exam covers topics such as creating and managing chart of accounts, managing and posting journal entries, designing and managing financial reports, and managing period close processes.

NO.40 Management has added a requirement to segregate the duties of transferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)

Uncheck the Enable Posting from the Manage Subledger Accounting Options task.

Journal entry spreadsheets are not impacted by this new function.

Must have separate user defined roles using the privilege XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS.

For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.

NO.41 You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

Never use the Outer Point of View (POV)

Always use the Outer Point of View (POV)

Specify Run Time Prompts (RTP)

Only specify segment values in formulas

NO.42 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?

Define the intercompany segment with a default value.

Share the same value set for the company and intercompany segments.

Define the company segment and assign both the primary balancing segment and intercompany segment labels.

Create two different value sets for the company and intercompany segments.

NO.43 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?

Funds available will change when the invoice is approved

The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100

The budget will increase by USD 100 and the funds available will decrease by USD 100

The budget and funds available will increase by USD 100

NO.44 What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)

The purchase order is canceled or finally closed or rejected without performing any receipt or invoice

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

The requisition reserved successfully undergoes amendment and is rejected in the reapproval

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

NO.45 What are the two purposes of a secondary ledger? (Choose two.)

It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options

It should not be used when trying to meet local accounting requirements

It is used to main balances in a different currency only

It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting

It should only be used to main balances for processing performance

NO.46 Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment levels.
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Which two recommendations would you give your customer? (Choose two.)

Additional intercompany rules will need to be defined for the two additional balancing segments

Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry

Additional intercompany balancing and clearing options will need to be defined

When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal

NO.47 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.)

Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger

Define Journal Conversion Rules that include subledgers in order to transfer subledger transactions

Define Journal Conversion Rules that exclude subledgers

Assign a Subledger Accounting Method to the secondary ledger

Define Supporting References with balances

NO.48 Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which privilege is required to perform the budget transfer?

Import Budget Amounts from Spreadsheet (XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)

Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)

Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)

Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)

NO.49 How can your Accounting Manager expedite journal processing during the time-critical month-end close?

by creating an ad hoc query on journals using Oracle Transactional Business Intelligence (OTBI)

by running the Journals report using Business Intelligence Publisher

by using the Journals region to view journals Requiring Attention, Requiring Approval, and Pending Approval from Other

by using the Close Status monitor to drill down on the close status across ledgers

NO.50 You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)

When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products

You can use hierarchies to define rules

When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts

The Segment Value Security rules do not take effect until you assign the rules to users and products

NO.51 You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

Deploy your chart of accounts

Use HCM’s Enterprise Structure Configurator (ESC) first

Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets

Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies

Use the Rapid Implementation spreadsheet when creating your enterprise structure

NO.52 You are defining an income statement report using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.
What should you enable to allow this?

Nothing. All report are drillable

Drill Through in Grid Properties

Drill Down in Report Functions

Allow Expansion in Report Functions

NO.53 You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason?

Two tree versions were not defined

An Audit process needs to be successfully performed before a tree version can be set to Active

Accounting Configuration was not submitted

Chart of accounts was not deployed

NO.54 You need to define multiple allocation rules as efficiency as possible.
Which three components can be reused across allocation rules? (Choose three.)

Point of View (POV)

Formulas

Run Time Prompts (RTP)

RuleSets

NO.55 Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

You can only drill down to the general ledger journal and then from there to the subledger journal entry.

This report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.

This report displays only the reconciled transactions. You need to further process automatic reconciliation to reconcile the unreconciled transactions.

This report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.

This report displays the intercompany receivables and intercompany payables balances in summary for a period.

NO.56 Your customer requires physical invoices to be generated in Payables Cloud and Receivables Cloud for the Intercompany payables and receivables transactions. Which two statements are correct with regards to setting this up? (Choose two.)

You only need to assign the Legal Entity and Organization Contact

You can only associate one Intercompany Organization per Legal Entity

You must have implemented Payables Cloud and Receivables Cloud

You must assign the corresponding Receivables and Payables Business Units

NO.57 When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

Make sure to flatten the rows of the tree version

Make sure the tree is active

Make sure the tree version was published successfully

Redeploy the chart of accounts

NO.58 You want to enter budget data in General Ledger Cloud. Which method is not supported?

Entering budget journals

Application Development Framework Desktop Integration (ADFdi)

Direct budget balance updates from a Financial Statement in Smart View

File-based Data Import

NO.59 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?

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

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.

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.

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

NO.60 You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?

Use the Manage Accounting Periods page to view the status of all subledgers and ledgers

Access each subledgers’ calendar and General Ledger’s Manage Accounting Periods page to view the status of each period

Use Close Monitor in General Accounting Dashboard

Run Closing Status reports

NO.61 While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose two.)

The Account Rule’s conditions are not defined

The Account Rule’s chart of accounts has no account values assigned

The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set

The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

NO.62 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?

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

NO.63 Which three objectives must be considered when designing the chart of accounts? (Choose three.)

Anticipate growth and maintenance needs as organizational changes occur

Effectively manage an organization’s financial business

Try to use all 30 segments and 25 characters per segment because you cannot change it later

Consider implementing a single, global chart of accounts

Limit the number of segments to those you need today to reduce data entry

The Oracle 1z0-1054-22 exam covers a wide range of topics including setting up ledgers and legal entities, creating and managing accounting structures, defining financial calendars and periods, setting up currencies and exchange rates, and configuring journals and intercompany transactions. 1z0-1054-22 exam also covers key features of the General Ledger module such as consolidation and elimination, budgeting and forecasting, and financial reporting. Passing 1z0-1054-22 exam demonstrates a high level of proficiency in implementing and maintaining the General Ledger module in the Oracle Financials Cloud, which is a valuable asset for professionals looking to advance their careers in financial management and accounting.

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