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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Section	Objectives
Security and Controls	- Audit and compliance controls - Role-based access control in General Ledger
Financial Reporting	- Financial Statement Generator (FSG) and reporting tools - Real-time reporting and analytics
Period Close and Reconciliation	- Period close process in General Ledger - Account reconciliation and balancing
General Ledger Configuration	- Ledger setup and accounting configuration - Chart of Accounts structure and segments - Accounting calendar and currency setup
Journal Processing	- Journal import and automation - Recurring journals and allocations - Journal creation and approval workflows

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Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q106-Q111):

NEW QUESTION # 106
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?

A. 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.
B. Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required.
C. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use.
D. 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.

Answer: B

NEW QUESTION # 107
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?

A. Translate only the adjusting journal entry.
B. Rerun Translation and then reconsolidate your results.
C. Rerun Revaluation and then rerun Translation.
D. Enter another adjusting journal entry in the target currency to true up the balances.

Answer: B

Explanation:
According to Oracle's documentation, if you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set to ensure that all balances are translated using the same exchange rates. Then, you should reconsolidate your results to reflect the updated translated balances.Reference:
Using General Ledger, page 9-7: "If you enter and post additional journal entries in your ledger currency after you run translation, you should rerun translation for the entire ledger or ledger set." Using General Ledger, page 9-8: "After you run translation, you can consolidate your results to create a consolidated balance sheet and income statement." Implement General Ledger, page 2-10: "You can translate and consolidate balances as part of the period close process."

NEW QUESTION # 108
Which three are considered legal jurisdictions?

A. Post Code
B. Single Country
C. Identifying Zone
D. Group of Countries
E. State

Answer: B,D,E

NEW QUESTION # 109
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?

A. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany 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.
B. 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.
C. 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.
D. 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.

Answer: A

NEW QUESTION # 110
You are required to changetoday's daily ratesfor convertingGBP to USD. What are three ways in which you can update existing daily rates?

A. Import daily rates through the Daily Rates open interface table.
B. Edit existing transactions and update the rates manually.
C. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area.
D. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager.
E. Use the spreadsheet loader from the Currency Rates Manager.

Answer: A,C,E

NEW QUESTION # 111
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