1z0-1054-24 Study Guide Latest [Apr 24, 2026] Realistic Verified 1z0-1054-24 Dumps [Q32-Q46]

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1z0-1054-24 Study Guide: Latest [Apr 24, 2026] Realistic Verified 1z0-1054-24 Dumps

1z0-1054-24 Questions & Practice Test are Available On-Demand

Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.
Topic 2	Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.
Topic 3	Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization’s financial operations.
Topic 4	Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.
Topic 5	Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.

NEW QUESTION 32
You want toprevent intercompany transactionsfrom being entered during thelast day of the close. What should you do?

Freeze the Intercompany Journal source in General Ledger.

Close Intercompany periods in Fusion Intercompany.

Close all subledger periods.

Close the General Ledger period in the Manage Accounting Periods page.

NEW QUESTION 33
Your userforgot the password. How do you resolve this?

Use the Manage Users page to update the user’s information and change the password.

Create a new user ID and password for the user.

Use Oracle Identity Management (OIM) to reset the user’s password.

Use Access Policy Manager (APM) to reset the user’s password.

NEW QUESTION 34
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?

Source

Allocation Range

Target

Offset

Basis

NEW QUESTION 35
Your customer isexpanding its operations. You defined a newledgerand severalbusiness units. However, you areunable to assignthe newly generateddata rolesto existingAccounts Payables and Accounts Receivablesusers in the shared service center.
What should you do to correct the problem?

Open the Oracle Identity Management (OIM) and make sure the data roles were created.

Make sure you run the Retrieve Latest LDAP Changes program to regenerate the data roles.

Open Access Policy Manager (APM) and assign the roles manually.

Open the Manage Users page and make sure the employees at

NEW QUESTION 36
Your company wants to change theCumulative Translation Adjustment (CTA) accountto record gains
/losses from varying currency rates.
What steps must you perform to achieve this objective without causing data corruption?

Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.

Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.

Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required.

Open the Ledgers page and update the CTA account and then rerun Translation for all periods required.The system will automatically update the translated balances.

NEW QUESTION 37
When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

when there is a many-to-many journal and you want to use a clearing company

when the journal is not balanced by the primary balancing segment value (BSV)

when the journal is balanced by the primary BSV but not by second or third BSV

when the journal is balanced by second balancing segment value

Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary balancing segment value (BSV) but not by second or third BSV. A BSV is a segment in the chart of accounts that identifies a legal entity or business unit for which financial statements are prepared and balanced. A primary BSV is required for every ledger and is used to balance journal entries within a ledger. A secondary or tertiary BSV is optional and is used to balance journal entries across different dimensions other than the primary BSV, such as fund or region. Intercompany processing is a feature that enables intercompany transactions between different legal entities or business units within the same enterprise. Intercompany processing uses intercompany balancing rules to generate intercompany receivables and payables accounts for cross-ledger or cross-BSV journals. Intercompany processing will balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by the primary BSV but not by second or third BSV, as thisindicates that there is an intercompany transaction between different legal entities or business units within the UK Ledger that requires intercompany balancing.
Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when there is a many-to-many journal and you want to use a clearing company, as this is a scenario that involves multiple legal entities or business units across different ledgers that requires a separate clearing company ledger to perform intercompany balancing. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is not balanced by the primary BSV, as this is an invalid scenario that violates the accounting rules and prevents posting of the journal. Intercompany processing will not balance a journal using the accounts identified here for the UK Ledger when the journal is balanced by second balancing segment value, as this is an incomplete scenario that does not specify whether the journal is also balanced by primary and third BSV. Reference: Oracle Financials Cloud: General Ledger
2022 Implementation Professional Objectives – Configure and Process Intercompany 12

NEW QUESTION 38
Which two statements are true regarding the export/import of reports?

To view errors encountered during the export or import Process, you must use SQL queries to obtain that data because no reports exist.

A set of reports lists user names, suppliers, and customers that have been exported/imported.

The export/import reports are available only for Fusion Customer Relationship Management.

A set of reports are provided for both exported and imported setup data to validate the export/import processes and setup data.

Reports on setup data can be used to compare and analyze how the data might have changed over time.

NEW QUESTION 39
Your customer has alarge number of legal entities. Thelegal entity valuesare defined in thecompany segment and the primary balancing segment.
They want to easily createeliminating entriesfor theintercompany activity.
What should you recommend?

There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.

Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.

There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.

Define an intercompany segment in the chart of accounts. The Intercompany module and theIntercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

NEW QUESTION 40
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

Mapping Sets

Accounting Attributes

Transaction Objects

Event Entities

NEW QUESTION 41
Task 3
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

NEW QUESTION 42
Budgetary control for accounts5020and5021has a budget of$90,000 USDeach for the year2012. The accounts also have balances onobligation of $10,000 USDfor each and anexpenditure of $20,000 USDfor each.
AFund of $50,000 USDis available for account5020only. You have run theEncumbrance Year End Carry Forward processfor obligation from the last period of the year2012to the first period of year2013.
Which statement is true?

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.

The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.

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.

If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.

NEW QUESTION 43
You are implementingFinancials Cloudand are usingspreadsheetsto loadLegal Entities, Business Units, and Account Hierarchies.
Which threesetup objectscan be loaded via aspreadsheetfromFunctional Setup Manager?

Complete Accounting Configuration

Suppliers and Customers

Banks, Bank Accounts, and Branches

Setup data for Receivables and Payables product.

Chart of account values, accounting calendar, and ledger

NEW QUESTION 44
Which two statements are true if a journal description rule is defined with sources?

The description rule may be assigned to either the header or line level, or to both.

The description rule can only be assigned to the journal line level.

You cannot assign journal description rules to sources.

The description rule can only be assigned to the header or line level.

The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.

NEW QUESTION 45
On a primary ledger in the system options close section, the following field has been selected ‘Prevent General Ledger Period Closure When Open Subledger Periods Exist’.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)

Receipt accounting

Receivables

Revenue Management

Assets

Order Management

NEW QUESTION 46
TheDelete Translated Balancesprocess provides the ability to completely reset translations in the event that significant changesare made to the accounting configuration.
Once the deletion process completes, what additional process must you run?

Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.