Pass Your Oracle Financials Cloud 1Z0-1054-21 Exam Easily with Accurate PDF Questions [Sep 13, 2022]
1Z0-1054-21 Certification Exam Dumps Questions in here
NEW QUESTION 15
You want to automatically port journal batches imported form subledger sources to prevent accidental edits or deletions of the subledger sources journals, which could cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your AutoPost Criteria? (Choose two.)
- A. Schedule your AutoPost Criteria set to run during off-peak hours only
- B. Use the All option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
- C. Include all of your subledger sources in the AutoPost Criteria. Divide up criteria sets by subledger source only if you need to schedule different posting times
- D. Create your AutoPost criteria using minimal sources and categories
Answer: B,C
NEW QUESTION 16
Alter submitting the journal for approval, you realize that the department value in the journal incorrect.
How do you correct the value?
- A. Delete the journal and create a new journal
- B. Update the journal through workflow
- C. Click the Withdraw Approval button in the Edit Journals page and edit the journal
- D. Reverse the journaland create a new one
Answer: C
Explanation:
Other functionality to consider before defining approval rules.
Both the ledger and journal source must be enabled for the approval process.
Caution: You should not enable journal approval for journals that come from subledgers (with subledger journal sources). Otherwise, if a journal from a subledger isn't approved, the journal can get stuck in the approval process. For any subledger journal sources, approvals for subledger transactions should be done in the subledgers themselves.
Approval is for the entire journal batch, regardless of the attributes used in the approval rules.
If a journal requires approval, submitting a journal for posting automatically routes the journal for approval before posting.
A journal can be escalated to an approver by the administrator.
The task initiator can select Withdraw Approval on the Journals page at any time in the approval process to withdraw journals from the process. Clicking this button enables editing of the journal. After your changes are made, submit the entry for approval again. When a journal is withdrawn, the completion status is set to Incomplete.
Approval notifications display a table of key journal attributes for each journal and a list of past, current, and future approvers.
https://docs.oracle.com/en/cloud/saas/financials/20b/faugl/journals.html#FAUGL212889
NEW QUESTION 17
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
- A. $400 USD will be added back to available funds
- B. Invoice type will have less funds available by $400 USD
- C. $400 USD will be expired and not available for use
- D. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of
$400 USD - E. Only obligation type will have $400USD funds available
Answer: C
NEW QUESTION 18
You want to enter budget data in General Ledger Cloud. Which method is not supported?
- A. Entering budget journals
- B. Direct budget balance updates from a Financial Statement in Smart View
- C. File-based Data Import
- D. Application Development Framework Desktop Integration (ADFdi)
Answer: A
NEW QUESTION 19
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 to prevent duplicate accounting entries?
- A. Define Journal Conversion Rules that include subledgers to transfer subledger transaction
- B. Ensure that the Accounting Calendar and Currency are the same as the Primary Ledger.
- C. Define Supporting References with balances.
- D. Define Journal Conversion Rules that exclude subledgers.
- E. Go to Manage Subledger Accounting Options, locate your created Secondary ledger and disable the Subledger accounting enabled for each component.
Answer: D,E
NEW QUESTION 20
You defined a tree or hierarchy, but you are unable to set its status to Active. What is the reason
- A. Two tree versions were not defined
- B. Chart of accounts was not deployed
- C. An Audit process needs to be successfully performed before a tree version can be set to Active
- D. Accounting Configuration was not submitted
Answer: C
NEW QUESTION 21
Which two methods can your General Ledger accountants use to more easily view large amounts of data contained in the tables in their work areas? (Choose two.)
- A. Run a Business Intelligence Publisher report with Excel as the output format
- B. Use the Freeze on the tables to scroll through large amounts of data
- C. Detach the table to resize it to the maximum size of the monitor.
- D. Export the table to Excel
Answer: C,D
NEW QUESTION 22
Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?
- A. Account Monitor
- B. Smart View
- C. Account Inspector and its charts
- D. Financial Reports with Embedded charts
Answer: A
NEW QUESTION 23
You want to define an allocation rule where segment values are constants (or rules and formulas. What should you do?
- A. Never use the Outer Point of View (POV)
- B. Always use the Outer Point of View (POV)
- C. Only specify segment values in formulas.
- D. Specify Run Time Prompts (RTP)
Answer: B
NEW QUESTION 24
Management has added a requirement to segregate the duties oftransferring journals to the General Ledger from the posting function. Which two new features allow this segregation? (Choose two.)
- A. Uncheck the Enable Posting from the Manage Subledger Accounting Options task.
- B. Must have separate user defined roles using the privilege
XLA_CREATE_GENERAL_LEDGER_AND_SUBLEDGER _JOURNALS. - C. For previously scheduled automated processes, it is recommended to cancel and rescheduled the process for the option to be effective.
- D. Journal entry spreadsheets are not impacted by this new function.
Answer: A,C
NEW QUESTION 25
Your customer has many eliminating entries to eliminate intercompany balances. The General Ledger does not include a purpose-built Consolidation feature. How would you automate the process of creating eliminating entries, assuming your customer is not using Oracle Hyperion Financial Close Management?
- A. Create a manual journal that includes the eliminating entries, and then create a copy of the journal batch every period
- B. Use thespreadsheet template that is accessed from the "Create Journal in Spreadsheet" task and import the spreadsheet with the eliminating entries every period
- C. There is no way to automate this process if the customer is not using Oracle Hyperion Financial Close Management
- D. Use the General Ledger's Calculation Manager to define an allocation definition to eliminate entries that you can generate every period
Answer: D
NEW QUESTION 26
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availability? (Choose two.)
- A. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
- B. 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
- C. The purchase orderis canceled or finally closed or rejected without performing any receipt or invoice
- D. 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
Answer: C,D
NEW QUESTION 27
What Is Oracle Essbase?
- A. A relational database
- B. A data ware house
- C. A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
- D. A robust reporting and analysis tool
Answer: D
Explanation:
https://docs.oracle.com/en/database/other-databases/essbase/19.3/essst/what-is-oracle- essbase.html#GUID-7C7192D4-9404-42E0-9830-2A4E6394F323 What Is Oracle Essbase? Oracle Essbase is a business analytics solution that uses a proven, flexible, best-in-class architecture for analysis, reporting, and collaboration. Essbase delivers instant value and greater productivity for your business users, analysts, modelers, and decision-makers, across all lines of business within your organization.
Topics:
NEW QUESTION 28
Which Subject area has been enhanced to allow you to drill down from OTBI General Report to a General Journal?
- A. General Ledger - Summary Balances Real Time
- B. General Ledger - Journal Real Time
- C. General Ledger - Journal Balances Real Time
- D. General Ledger - Journal Transaction Balances Real Time
Answer: B
Explanation:
the action link framework in Oracle Business Intelligence Enterprise Edition (OBIEE) allows you to click on an object and navigate directly to the source application, using this framework OTI for Financials provides the capability to drill from an OTBI ad hoc based on OTBI General Ledger - Journal Real Time Subject area to Journal Derails in Oracle Fusion General Ledger Cloud links can be configured in the ad hoc GL OTBI reports to drill down to the Edit Journal screen
NEW QUESTION 29
During implementation, a consultant accidentally designated the cost center segment as the natural account.
Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
- A. Create a new chart of accounts.
- B. Delete the chart of accounts and create a new one.
- C. Change and save the segment qualifier.
- D. Deletethe segment and create a new segment with the correct qualifier.
Answer: B
NEW QUESTION 30
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 nominority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?
- A. 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.
- B. Use Oracle Hyperion Financial Management for this type of complex consolidation.
- C. 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.
- D. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances tothe corporate consolidation ledger using the balance transfer program
Answer: D
NEW QUESTION 31
In Financial Cloud, which three reporting tools can be used to access General Ledger balances? (Choose three.)
- A. FinancialReporting Studio
- B. Smart View
- C. Oracle Transactions Business Intelligence
- D. Application Composer
- E. Oracle Enterprise Repository
Answer: A,B,C
NEW QUESTION 32
The Accounting Manager requests that a schedule be created to automate.ca.ly post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?
- A. Journal Category
- B. Journal Source
- C. Journal Description
- D. Journal Batch
Answer: B
NEW QUESTION 33
Theexpense 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. Deactivate the value
- C. Run the "Update Balance Cube Chart of the Accounting Dimension" program
- D. Run the "Correct Misclassified Account"program
Answer: D
NEW QUESTION 34
Which reporting tool is best suited for submitting high-volume transactions reports, such as Invoice Registers or Trial Balance reports, that can be configured to extract the data in Rich Text Format or xml?
- A. Business Intelligence Publisher (BI Publisher)
- B. Oracle Data Visualization Cloud Service
- C. Financial Reporting Center
- D. Smart View
Answer: A
NEW QUESTION 35
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. They need to license a separate stand-alone Intercompany product that acts asthe Intercompany Accounting Hub
- B. Each product has its own Intercompany Accounting feature that needs to be set up separately
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management
- D. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals
Answer: C,D
NEW QUESTION 36
You want to monitor the close process if all your financial subledgers and ledgers. How can you quickly obtain this information?
- A. Use Close Monitor in General Accounting Dashboard
- B. Run Closing Status Reports
- C. Access each subledgers' calendar and General Ledgers' Manage Accounting Periods page to view the status of each period
- D. Use the Manage Accounting Periods page to view the status all subledgers and ledgers
Answer: A
NEW QUESTION 37
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