The Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional (1Z0-1054-26) practice questions (desktop and web-based) are customizable, meaning users can set the questions and time according to their needs to improve their discipline and feel the real-based exam scenario to pass the Oracle 1Z0-1054-26 Certification. Customizable mock tests comprehensively and accurately represent the actual 1Z0-1054-26 certification exam scenario.
| Section | Objectives |
|---|---|
| Topic 1: Period Close and Reconciliation | - Period close process in General Ledger - Account reconciliation and balancing |
| Topic 2: General Ledger Configuration | - Ledger setup and accounting configuration - Accounting calendar and currency setup - Chart of Accounts structure and segments |
| Topic 3: Journal Processing | - Recurring journals and allocations - Journal creation and approval workflows - Journal import and automation |
| Topic 4: Security and Controls | - Role-based access control in General Ledger - Audit and compliance controls |
| Topic 5: Financial Reporting | - Financial Statement Generator (FSG) and reporting tools - Real-time reporting and analytics |
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NEW QUESTION # 60
Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)
Answer: C,E
Explanation:
The two true statements for the resulting revaluation run are that you have an unrealized exchange gain recorded and you have an unrealized exchange loss recorded. Revaluation is a process that adjusts foreign currency balances to reflect current exchange rates at period end. Revaluation creates journal entries to record unrealized exchange gains or losses on foreign currency balances based on revaluation rates defined for each currency. In this scenario, you have a balance on the Accounts Payable Liability Account of 100,000 Euros which is equivalent to USD 136,550 at month end. The month end exchange rate for revaluation is 1 Euro =
1.3755 USD. Therefore, after revaluation, your balance on the Accounts Payable Liability Account will be USD 137,550 (100,000 x 1.3755). This means you have an unrealized exchange gain of USD 1,000 (137,550
- 136,550) on your Accounts Payable Liability Account because your liability in foreign currency has decreased in terms of your ledger currency due to exchange rate fluctuations. Revaluation will create a journal entry to debit your Accounts Payable Liability Account by USD 1,000 and credit your Unrealized Exchange Gain Account by USD 1,000 to record this gain. The original journal entry in Euros is not updated by revaluation, as revaluation only creates new journal entries to adjust foreign currency balances in terms of ledger currency based on revaluation rates. There is no unrealized exchange gain or loss calculated by revaluation, as revaluation does calculate unrealized exchange gains or losses on foreign currency balances based on revaluation rates.
NEW QUESTION # 61
You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?
Answer: B,C
NEW QUESTION # 62
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: B
NEW QUESTION # 63
Which two allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis? (Choose two.)
Answer: D,E
Explanation:
The two options that allow access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis are Reports and Analytics and Enterprise Performance Management Workspace. Reports and Analytics is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Reports and Analytics from various pages in Oracle Fusion Applications or from Oracle Fusion Cloud Service Console. Enterprise Performance Management Workspace is a tool that allows users to access, create, edit, and share reports and analyses using data from various sources, including Oracle Transactional Business Intelligence. Users can access Enterprise Performance Management Workspace from Oracle Fusion Cloud Service Console or from a web browser. Universal Content Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to manage documents and other digital content in Oracle Fusion Applications. Business Process Management Workspace is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to monitor and manage business processes in Oracle Fusion Applications. Scheduled Processes is not an option that allows access to the BI Catalog for creating an Oracle Transactional Business Intelligence analysis, as this is a tool that allows users to submit, monitor, and manage scheduled processes in Oracle Fusion Applications.Oracle FinancialsCloud: General Ledger 2022 Implementation Professional Objectives - Use Oracle Transactional Business Intelligence (OTBI)12
NEW QUESTION # 64
Your Oracle Fusion Cloud client needs to store balances such as floor space, number of employees, quantities purchased for use in journal allocations, and financial reporting.
Currently, in their test environment, they are unable to record statistical amounts.
What is the reason?
Answer: A
NEW QUESTION # 65
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