Oracle 1Z0-1054-21 Valid Q&A - in .pdf

  • 1Z0-1054-21 pdf
  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
  • Updated: Jul 28, 2026
  • Q & A: 136 Questions and Answers
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  • 1Z0-1054-21 Testing Engine
  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
  • Updated: Jul 28, 2026
  • Q & A: 136 Questions and Answers
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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Financial Reporting- Smart View Reporting
- Financial Statement Generation
- Account Groups and Reports
- Financial Reporting Studio
Journal Processing- Allocation Rules
- Create and Manage Journals
- Journal Import and Posting
- Configure Journal Approval
- Recurring Journals
Period Close- Perform Period Close Activities
- Manage Accounting Periods
- Close Monitoring and Reporting
Configuring Ledgers- Configure Reporting Currencies
- Define Ledger Options
- Configure Secondary Ledgers
- Manage Ledger Sets
Configuring Enterprise and Financial Reporting Structures- Manage Ledgers
- Manage Geographies
- Manage Chart of Accounts
- Manage Accounting Calendars
- Manage Legal Authorities and Legal Entities
- Manage Legal Jurisdictions
- Manage Account Hierarchies
Budgetary Control and Encumbrance Accounting- Encumbrance Accounting
- Control Budgets
- Configure Budgetary Control
- Funds Check Processing
Intercompany Processing- Process Intercompany Transactions
- Configure Intercompany Balancing Rules
- Intercompany Reconciliation

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. 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 Hyperion Financial Management?

A) Data is summarized across segments that are not mapped to Hyperion Financials Management.
B) The unmapped segments default to future use segments in Hyperion Financial Management.
C) Errors occur for unmapped segments, you must map multiple segments from source general ledgers to the target segments in Hyperion Financial Management
D) No Data is Transferred.


2. Your customer wants to use a clearing company to automatically balance intercompany entries. Which three statements are true regarding the use of a clearing company value? (Choose three.)

A) If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
B) If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
C) If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
D) You must map legal entities to balancing segment values in order to use a clearing company
E) Clearing companies are not supported


3. What Is Oracle Essbase?

A) A relational database
B) A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
C) A data ware house
D) A robust reporting and analysis tool


4. Your customer uses Financials Cloud, Projects, Inventory and Procurement. Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A) Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
B) Each product has its own Intercompany Accounting feature that needs to be set up separately
C) They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub
D) Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals


5. Encumbrance accounting is enabled for your ledger. An encumbrance journal dated 3/15/16 was recorded for a purchase order. The invoice was entered on 5/5/16, but the invoice accounting date was
4/20/16. The encumbrance journal for liquidating the purchase order encumbrance is dated
5/5/16.What is causing this?

A) The current transaction accounting date was set up under the encumbrance accounting Default Date Rule
B) The actual accounting date was set up under the encumbrance accounting Default Date Rule
C) The sub ledger accounting option is set to system date
D) The prior related transaction accounting date was set up under the encumbrance accounting Default Date Rule


Solutions:

Question # 1
Answer: C
Question # 2
Answer: A,B,C
Question # 3
Answer: D
Question # 4
Answer: A,D
Question # 5
Answer: A

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