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| Section | Objectives |
|---|---|
| Topic 1: Journal Processing | - Journal approvals and posting
|
| Topic 2: Security and Integration | - Integration with subledgers
|
| Topic 3: General Ledger Configuration | - Enterprise structure setup for Financials
|
| Topic 4: Accounting and Close Processes | - Financial reporting
|
| Topic 5: Advanced Financials Features | - Intercompany accounting
|
>> 1Z0-1054-26 Actual Exam Dumps <<
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NEW QUESTION # 52
You are creating a Multitier Intercompany agreement and haven chosen to use a clearing organization in Financial Route.
How many clearing organizations can be involved in Financial Route?
Answer: B
NEW QUESTION # 53
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
Answer: C,D
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 # 54
You have created several account groups with the Display in option as Expenses.
Which setting determines the account group that will be displayed in the General Accounting infolets on your home page?
Answer: D
NEW QUESTION # 55
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India).
Which three labels are required when designing the chart of account structure for this project? (Choose three.)
Answer: B,D,E
Explanation:
The three labels that are required when designing the chart of account structure for this project are Primary Balancing, Cost center, and Natural Account. A chart of account structure is composed of segments that represent different dimensions of accounting information, such as company, department, account, or project.
Each segment has a label that indicates its function or purpose within the chart of accounts. The Primary Balancing label is required for the segment that identifies the legal entity or business unit for which financial statements are prepared and balanced. The Cost center label is required for the segment that identifies the organizational unit or function that incurs expenses or generates revenues. The Natural Account label is required for the segment that identifies the nature of an account, such as asset, liability, revenue, or expense.
The Intercompany Segment label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies intercompany transactions between different legal entities or business units within the same enterprise. The Secondary Balancing label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies an additional balancing dimension other than the primary balancing segment, such as fund or region. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12
NEW QUESTION # 56
You are implementingFinancials Cloudand are usingspreadsheetsto loadLegal Entities, Business Units, and Account Hierarchies.
Which threesetup objectscan be loaded via aspreadsheetfromFunctional Setup Manager?
Answer: B,C,D
NEW QUESTION # 57
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