Pass Guaranteed Quiz 2026 1Z0-1054-26: Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional–Efficient Vce Test Simulator

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Oracle 1Z0-1054-26 Exam Syllabus Topics:

SectionObjectives
Journal Processing- Journal creation and management
  • 1. Recurring journals
    • 2. Manual journals
      - Journal approvals and posting
      • 1. Posting process and controls
        • 2. Approval workflows
          Security and Integration- Role-based access control
          • 1. Financial roles and privileges
            - Integration with subledgers
            • 1. AP/AR integration with GL
              • 2. Data import and export processes
                Accounting and Close Processes- Financial reporting
                • 1. Financial Reporting Studio usage
                  • 2. Account analysis and reporting
                    - Period close activities
                    • 1. Close monitoring and reconciliation
                      • 2. Subledger to GL reconciliation
                        Advanced Financials Features- Intercompany accounting
                        • 1. Balancing and eliminations
                          • 2. Intercompany transactions
                            - Allocations and automation
                            • 1. Automated accounting processes
                              • 2. Allocation rules
                                General Ledger Configuration- Enterprise structure setup for Financials
                                • 1. Ledger configuration
                                  • 2. Chart of Accounts design and setup
                                    - Accounting configuration
                                    • 1. Currency setup and revaluation
                                      • 2. Accounting calendars

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                                        Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q128-Q133):

                                        NEW QUESTION # 128
                                        Budgetary control for accounts 5020 and 5021 has a budget of $90,000 USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each.
                                        A Fund of $50,000 USD is available for account 5020 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
                                        Which statement is true?

                                        Answer: D


                                        NEW QUESTION # 129
                                        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.
                                        Which feature can be used to proactively notify you of account anomalies in a more timely manner?

                                        Answer: C


                                        NEW QUESTION # 130
                                        The Vision Corporation Chart of Accounts is used by four ledgers, two of which share the same calendar and the other two have their own distinct calendars.
                                        How many balances cubes are automatically created?

                                        Answer: D

                                        Explanation:
                                        Oracle General Ledger balances cubes are created based on the unique combination of Chart of Accounts and accounting calendar. In this scenario, all four ledgers use the same Chart of Accounts, so the Chart of Accounts does not create additional cube variation. However, the calendars do. Two ledgers share one calendar, while the other two ledgers each use their own distinct calendar. That produces three unique Chart of Accounts and calendar combinations: shared calendar combination, second distinct calendar combination, and third distinct calendar combination. Therefore, three balances cubes are created automatically. The candidate answer "two balance cubes" is incorrect.
                                        Oracle documentation states that General Ledger balances cubes are created for each combination of Chart of Accounts and accounting calendar.


                                        NEW QUESTION # 131
                                        You have set up asupporting reference with balancesto capturerevenue by account manager.
                                        Which option should you use to view thesupporting reference balances?

                                        Answer: D


                                        NEW QUESTION # 132
                                        Which two statements are true regarding the Translation process? (Choose two.)

                                        Answer: D,E

                                        Explanation:
                                        According to Oracle documentation1, the following statements are true regarding the Translation process:
                                        Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account, and if necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process enables you to translate balances from one currency to another for reporting purposes.
                                        The Translation process calculates any difference between the translated balance and the entered balance and posts it to the Cumulative Translation Adjustment account. The Revaluation process enables you to adjust balances denominated in foreign currencies to reflect current exchange rates. The Revaluation process should be completed before the Translation process to ensure that the balances are accurate. Therefore, options A and B are correct. Option C is incorrect because the Translation process should be run after posting Period Close adjustment entries. Option D is incorrect because the Translation process can be used for translating the balances of primary ledgers, secondary ledgers, and reporting currencies. Option E is incorrect because the Translation process can be used to translate both balance sheet accounts and income statement accounts.


                                        NEW QUESTION # 133
                                        ......

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