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Oracle 1z0-1054-22 exam is an excellent certification for financial professionals who want to validate their skills and knowledge in the field of financial management. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification can help professionals enhance their career prospects and demonstrate their ability to work with financial data and information.
NEW QUESTION # 45
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)
- A. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet
- B. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee
- C. Use OTBI to create multiple reports that you save to a folder that only the users can access
- D. Use a report batch to run reports at a specific time to create a set of snapshot reports
- E. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book
Answer: D,E
Explanation:
you can use a report batch to run reports at a specific time to create a set of snapshot reports. A report batch is a collection of reports that you can schedule and run together. Therefore, option B is correct. You can also use Workspace to assemble multiple reports into a book that can be printed and viewed individually or as an entire book. A book is a collection of reports that you can organize into sections and chapters. Therefore, option C is correct. Option A is incorrect because BI Publisher is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting. Option D is incorrect because Smartview is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting. Option E is incorrect because OTBI is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting.
NEW QUESTION # 46
The general accountant is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the List of Values for the accountant to select in the Suspense Account.
What is the reason for this?
- A. A cross validation rule is in place to prevent the resulting combination from being created
- B. The general accountant does not have the Financials Application administrator role assigned and, therefore, has view-only privileges on this page
- C. There is a primary balancing segment attached to the legal entity of the primary ledger
- D. The general accountant has a segment value security rule assigned which restricts access to that cost center
Answer: A
NEW QUESTION # 47
Budgetary control for accounts 5020 and 5021 has a budget of $90,000USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each. A Fund of $50,000 USD is available for account 5010 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013. Which statement is true?
- A. If you have included 5020 and 5021 in the encumbrance rule, the budget balances $90,000 USD, obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
- B. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances
- C. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward
- D. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward
- E. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
Answer: D
NEW QUESTION # 48
You want to enter budget data in General Ledger Cloud. Which method is not supported?
- A. Direct budget balance updates from a Financial Statement in Smart View
- B. Entering budget journals
- C. File-based Data Import
- D. Application Development Framework Desktop Integration (ADFdi)
Answer: B
NEW QUESTION # 49
In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. The layout Template
- B. The Data Model
- C. Output type
- D. The Sub Template
- E. The Style Template
Answer: B,C
Explanation:
To add a global branding logo and more predefined transactional attributes to the journal approval email notification, you should copy (or customize) and edit the layout template and the data model. The layout template is a file that defines the appearance and content of the notification, such as text, images, tables, or charts. The data model is a file that defines the data sources and queries that provide data for the notification, such as predefined transactional attributes. You can copy (or customize) and edit the layout template and the data model using Oracle Analytics Publisher reports. You do not need to copy (or customize) and edit the output type, as this is a setting that determines the format of the notification output, such as HTML or PDF. You do not need to copy (or customize) and edit the style template, as this is a file that defines the styles and formatting of the notification elements, such as fonts, colors, or margins. You do not need to copy (or customize) and edit the sub template, as this is a file that contains reusable content or logic that can be referenced by multiple layout templates. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure Workflow Approvals and Notifications 12
NEW QUESTION # 50
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?
- A. Make sure the tree is active
- B. Redeploy the chart of accounts
- C. Make sure to flatten the rows of the tree version
- D. Make sure the tree version was published successfully
Answer: D
NEW QUESTION # 51
You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account.
The chart of accounts also has an intercompany segment.
Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?
- A. Ledger level rule
- B. Legal entity level rule
- C. Primary balancing segment rule
- D. Chart of Accounts rule
Answer: D
Explanation:
According to Oracle documentation2, you should define the default intercompany balancing rule at the chart of accounts level when you have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts level rule applies to all ledgers that share the same chart of accounts. Intercompany balancing rules are used to generate the accounts required to balance journals that are out of balance by legal entity or primary balancing segment values. Therefore, option B is correct. Option A is incorrect because the primary balancing segment level rule applies only to journals that are out of balance by primary balancing segment values within a ledger. Option C is incorrect because the legal entity level rule applies only to journals that are out of balance by legal entity within a ledger. Option D is incorrect because the ledger level rule applies only to journals that are out of balance by ledger.
NEW QUESTION # 52
The expense account of airfare was erroneously assigned to the account type "Liability". Which method should you choose to fix the problem?
- A. Run the "Segment Value Inheritance" program
- B. Run the "Correct Misclassified Account" program
- C. Run the "Update Balance Cube Chart of the Accounting Dimension" program
- D. Deactivate the value
Answer: B
Explanation:
you can use the Correct Misclassified Account program to change the account type of an account that was erroneously assigned. This program updates all balances for that account with the new account type and ensures that all existing reports reflect this change. Therefore, option C is correct. Option A is incorrect because deactivating the value will not change the account type of the account. Option B is incorrect because running the Segment Value Inheritance program will not change the account type of the account. Option D is incorrect because running the Update Balance Cube Chart of Accounting Dimension program will not change the account type of the account.
NEW QUESTION # 53
You want to prevent intercompany transactions from being entered during the last day of the close. What should you do?
- A. Freeze the Intercompany journal source in General Ledger
- B. Close Intercompany periods in Fusion Intercompany
- C. Close the General Ledger period in the Manager Accounting Periods page
- D. Close all subledger periods
Answer: B
Explanation:
To prevent intercompany transactions from being entered during the last day of the close, you should close intercompany periods in Fusion Intercompany. This will prevent users from creating or modifying intercompany transactions for the closed periods. You do not need to freeze the Intercompany journal source in General Ledger, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. You do not need to close all subledger periods, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. You do not need to close the General Ledger period in the Manager Accounting Periods page, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 12VVVVVVVVVVVVVVV
NEW QUESTION # 54
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?
- A. Budget Group
- B. Budget Account Group
- C. Application Development Framework Desktop Integration (ADFdi)
- D. Budget Controller
- E. Account Group
Answer: E
NEW QUESTION # 55
What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)
- A. You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts
- B. You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously
- C. General ledger balances are multidimensional, allowing you to perform robust reporting and analysis
- D. Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules
- E. Posting performance is much faster
Answer: B,C
Explanation:
The benefits of having the Essbase cube embedded in General Ledger Cloud are that general ledger balances are multidimensional, allowing you to perform robust reporting and analysis using different dimensions and hierarchies, and that you can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously. Posting performance is not faster because of the Essbase cube, as posting still involves updating the relational tables. Integrating with third-party systems is not easier because of the Essbase cube, as this involves using web services or file-based data import. You still need to create and maintain hierarchies because the Essbase cubes are not created when you create your chart of accounts, but when you complete the accounting configuration. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI) 12
NEW QUESTION # 56
What is the most efficient way to add a new year to the accounting calendar?
- A. Use the Add Year button
- B. Import the periods from a spreadsheet
- C. The application automatically populates the next year when you open the first period of a new fiscal year
- D. Add the periods manually
Answer: A
Explanation:
you can use the Add Year button to add years to the calendar. You can enter the number of years to add to the calendar and confirm whether to add years after the end year or before the start year. Therefore, option D is correct. Option A is incorrect because you cannot import the periods from a spreadsheet. Option B is incorrect because the application does not automatically populate the next year when you open the first period of a new fiscal year. Option C is incorrect because adding the periods manually is not the most efficient way to add a new year to the accounting calendar.
NEW QUESTION # 57
You have noticed that a lot of erroneous address data is being saved. You want to ensure that only valid addresses are entered in the system.
How do you achieve this?
- A. Redefine the location structure.
- B. Define the geography validation for country option to No Validation.
- C. Define the geography validation for country option to Error.
- D. Redefine the geography hierarchy.
Answer: C
Explanation:
To ensure that only valid addresses are entered in the system, you should define the geography validation for country option to Error. This option determines how geography validation is performed when users enter addresses in various applications. If you set this option to Error, then users can only enter addresses that match predefined geographies in the Geography Hierarchy. If users enter invalid addresses, they will receive an error message and will not be able to save the address until they correct it. You do not need to redefine the location structure, as this is a feature that defines how locations are identified and organized in Oracle Fusion Applications. You do not need to redefine the geography hierarchy, as this is a feature that defines how geographies are structured and validated in Oracle Fusion Applications. You do not need to define the geography validation for country option to No Validation, as this option disables geography validation and allows users to enter any address without checking against predefined geographies. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Enterprise Structures 12
NEW QUESTION # 58
You have a requirement for the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions.
What should you configure?
- A. the Transaction Account Definition
- B. Intercompany transaction type default accounts
- C. a Provider and Receiver distribution set
- D. the AutoAccounting Definition
Answer: C
NEW QUESTION # 59
Your customer has a number of Chart of Account Mapping Rules for their Primary and Secondary ledgers. You decide to use the FBDI template to load the rules.
Which two statements are true when using this method of entry? (Choose two.)
- A. You can download the template only from the Manage Chart of Accounts Mappings page.
- B. You can create, update, and delete segment rules for a chart of accounts mapping.
- C. It supports external integration using REST services.
- D. You can create, update, and delete account rules for a chart of accounts mapping.
Answer: B,D
Explanation:
According to Oracle documentation3, when using FBDI template to load Chart of Account Mapping Rules for their Primary and Secondary ledgers, you can create, update, and delete account rules for a chart of accounts mapping, and you can create, update, and delete segment rules for a chart of accounts mapping. FBDI enables you to import chart of accounts mapping rules from a spreadsheet template into General Ledger. You can use FBDI to manage both account rules and segment rules for a chart of accounts mapping. Therefore, options C and D are correct. Option A is incorrect because you can download the template from other pages besides the Manage Chart of Accounts Mappings page. Option B is incorrect because FBDI does not support external integration using REST services.
NEW QUESTION # 60
You entered a cross validation rule to prevent the balance sheet cost center (000) being used with Profit and Loss Accounts (4000-ZZZZ).
-
The following combinations exist in the Code Combination table:
01-000-4110-00, 01-000-5299-000, 01-000-5105-000 and 01-000-7640-00
Which two statements are true regarding cross-validation rules? (Choose two.)
- A. You need to run the Cross-Validation Rule Violations process to allow rules to apply to existing combinations that violate rules
- B. You need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules
- C. The rules validate and apply to new accounts only
- D. The rules will validate and apply to new and existing accounts
- E. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance
Answer: B,D
Explanation:
The two true statements regarding cross-validation rules are that you need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules, and that the rules will validate and apply to new and existing accounts. The Cross-Validation Rules process is a scheduled process that identifies existing account combinations that violate cross-validation rules and optionally disables them. You can run this process after defining or modifying cross-validation rules to ensure data integrity. The cross-validation rules will validate and apply to new and existing accounts, as they are enforced whenever an account combination is created or updated. The rules do not apply to new accounts only, as they also apply to existing accounts. There is no need to run the Cross-Validation Rule Violations process, as this is not a supported option. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance, as this is not a relevant factor. Dynamic Combination Creation Allowed is an option that determines whether users can create new account combinations on the fly or only use predefined combinations. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12
NEW QUESTION # 61
The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?
- A. Budget Group
- B. Account Group
- C. Application Development Framework Desktop Integration (ADFdi)
- D. Budget Controller
- E. Budget Account Group
Answer: E
Explanation:
According to the Oracle documentation1, "Budget Monitor in the Budgetary Control Dashboard enables you to monitor budget consumption for your choice of key accounts. You can start at a high level and then drill down to any segment along your choice of single or multi-level hierarchy." To define the details while analyzing budget balances in the Budget Account Monitor page, you must use a budget account group, which is a collection of line items that you want to monitor. You can create your own private budget account groups or use public budget account groups created by a centralized user.
NEW QUESTION # 62
The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?
- A. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- B. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- C. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- D. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
Answer: A
Explanation:
The Delete Translated Balances process deletes all previously translated balances for a given ledger, currency, and period range. After running this process, you must submit the Update General Ledger Balances Cube process to rebuild the balances cube and ensure that the translated balances are consistent with future translations. This process also updates the account hierarchies and dimension members in the balances cube. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Translate Balances 12
NEW QUESTION # 63
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. Each product has its own Intercompany Accounting feature that needs to be configured separately.
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
- D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
Answer: B,C
Explanation:
According to Oracle documentation1, the following statements are true regarding intercompany accounting for Financials Cloud, Projects, Inventory, and SCM: Each product has its own Intercompany Accounting feature that needs to be configured separately, and Intercompany Balancing Rules are defined centrally and applied across Financials and Projects. Intercompany accounting is the process of recording transactions between related entities within an enterprise or between groups in the same legal entity. Each product has its own Intercompany Accounting feature that enables you to create, process, and reconcile intercompany transactions. Intercompany Balancing Rules are used to generate balancing entries for journals that are out of balance by legal entity or primary balancing segment values. Intercompany Balancing Rules are defined in General Ledger and applied across Financials and Projects. Therefore, options A and C are correct. Option B is incorrect because Intercompany Balancing Rules are not used to balance cross-ledger allocation journals. Option D is incorrect because Intercompany balancing rules in General Ledger do not need to be mapped with the intercompany configuration in each product.
NEW QUESTION # 64
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Oracle 1z0-1054-22 exam is an ideal certification for professionals who are looking to enhance their career in the field of finance and accounting. Oracle Financials Cloud: General Ledger 2022 Implementation Professional certification validates that the individual has the skills and knowledge to implement and configure Oracle Financials Cloud: General Ledger solutions, which are widely used in many industries worldwide. By earning this certification, professionals will have a competitive advantage in the job market and be better positioned to advance their career in finance and accounting.
Oracle 1z0-1054-22 exam covers a wide range of topics related to Oracle Financials Cloud: General Ledger 2022, including setting up and configuring the system, managing financial data and transactions, and using advanced reporting and analytics tools. Candidates will need to demonstrate a thorough understanding of financial accounting principles, as well as the ability to use Oracle Financials Cloud to manage financial processes and workflows.
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