Oracle 1Z0-1054-26: Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional braindumps - Testking 1Z0-1054-26 test

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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Section	Weight	Objectives
Implementing Enterprise and Financial Reporting Structures	15%	- Key features and capabilities of Enterprise and Financial Reporting Structures 1. Chart of Accounts design - Configuration of Financial Reporting Structures
Configuring Financial Reports	15%	- Financial report and analysis creation 1. General Accounting infolets - Financial reporting options
Leveraging AI/ML/Mobile and Automation Features	3%	- Use AI/ML/mobile and automation features for process efficiency
Implementing and Managing Journals	20%	- Journal configuration - Key features and capabilities of journal processing
Enabling Redwood Capabilities	2%	- Enable Redwood capabilities and understand configuration impacts
Processing Intercompany	15%	- Intercompany transaction processing and reconciliation - Intercompany transaction configuration
Implementing Ledgers	15%	- Ledger configuration
Performing Period Close	15%	- Period Close process overview - Period Close configuration

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Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q96-Q101):

NEW QUESTION # 96
A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

A. Reporting currency with the IFRS accounting convention
B. Primary ledger with the local accounting convention
C. Secondary ledger with the IFRS accounting convention
D. Reporting currency with the local accounting convention
E. Primary ledger with the IFRS accounting convention

Answer: B,C

Explanation:
A primary ledger is the main ledger for a legal entity or business unit that records all accounting transactions and maintains the accounting balances. A secondary ledger is an optional ledger that is associated with a primary ledger and maintains accounting balances in a different accounting representation. A reporting currency is an optional currency that is associated with a primary ledger and maintains accounting balances in a different currency. In this scenario, the subsidiary company needs to produce fiscal reports under local GAAP and local currency, as well as report to the parent company using IFRS and not local currency. Therefore, the subsidiary company should configure a primary ledger with the local accounting convention and local currency, and a secondary ledger with the IFRS accounting convention and not local currency. A reporting currency with the local accounting convention or the IFRS accounting convention would not meet the requirement, as it would only maintain balances in a different currency, not a different accounting representation. A primary ledger with the IFRS accounting convention would not meet the requirement, as it would not comply with the local GAAP.Reference:
Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 2: Ledgers, Primary Ledgers, Secondary Ledgers, and Reporting Currencies Oracle Financials Cloud Using General Ledger, Chapter 1: Introduction, Ledgers and Subledgers, Primary Ledgers, Secondary Ledgers, and Reporting Currencies

NEW QUESTION # 97
You have enabled budgetary control and have a control budget set toAdvisorycontrol level. For September
2016, your budget for a given account combination is$5,000 USD.
In the same month, there is anapproved requisitionfor that account of$900and anapproved purchase orderfor that account of$2,500 USD. There is also aGeneral Ledger adjustment journal entryfor that account of$1,600 USD. Anapproved purchase order line of $400 USDis thencanceled.
Aninvoice is matchedto the purchase order for$2,100 USD.
Which two statements are true? (Choose two.)

A. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016.
B. The system always consumes the budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation.
C. Funds reservation only happens for non-matched invoices, so the system will not reserve funds.
D. Purchase order encumbrance will be released for $2,100 USD.

Answer: A,D

NEW QUESTION # 98
Which three factors should you consider while specifying Intercompany System options?

A. Approvers who will approve intercompany transactions
B. Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies
C. Automatic or manual batch numbering and the maximum transaction amount
D. Whether to allow receivers to reject intercompany transactions
E. Automatic or manual batch numbering and the minimum transaction amount

Answer: B,D,E

Explanation:
Intercompany System options are used to set up intercompany processing rules at the enterprise level, based on your specific business needs. They help you standardize and simplify transaction processing, minimize disputes, and reduce administrative costs. The three factors that you should consider while specifying Intercompany System options are:
Automatic or manual batch numbering and the minimum transaction amount: These options help you control the numbering and the size of intercompany transactions. You can choose to use system generated or manual batch numbering, and you can specify a minimum threshold amount for intercompany transactions to prevent immaterial transactions. To use the minimum transaction amount option, you must also select an Intercompany currency option.
Whether to enforce an enterprise-wide currency or allow intercompany transactions in local currencies: This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions. You can choose to standardize transaction processing by selecting an Intercompany currency, which means that all intercompany transactions created in the Intercompany module are entered in this currency. Alternatively, you can choose to allow intercompany transactions in local currencies, which means that intercompany transactions can be entered in the ledger currency of the sender or the receiver.
Whether to allow receivers to reject intercompany transactions: This option helps you handle the approval and dispute resolution process for intercompany transactions. You can choose to allow receivers to reject intercompany transactions if they disagree with the sender's information, such as the amount, the account, or the date. If you enable this option, you must also specify the rejection reason and the notification details for the sender.
:
Intercompany System Options
Implementing Enterprise Structures and General Ledger
Implement General Ledger

NEW QUESTION # 99
You are using theCreate Budgets in a Spreadsheetoption toload your budget balancesinto theGL balances cube. YourFYXX Budgetis not appearing in theBudget Namelist of values.
Which two are the reasons for this?

A. The Create Scenario Dimension Members program has not been run.
B. A value for the budget scenario has not been created.
C. Budgeting has not been enabled in the ledger options.
D. The Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.
E. The Transfer Budget Balances to Budget Cubes has not been run.

Answer: A,B

NEW QUESTION # 100
You need to integrateFusion Accounting Hubwithexternal source systemsused forBilling. Identify the step that isnot correctwhen implementing this integration.

A. Determine the accounting impact of transactions.
B. Capture accounting events.
C. Analyze external system transactions.
D. Create the accounting in the source system and then import the journal entries into subledger accounting.

Answer: D

NEW QUESTION # 101
......

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