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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Section	Objectives
Topic 1: Accounting and Close Processes	- Financial reporting 1. Account analysis and reporting 2. Financial Reporting Studio usage - Period close activities 1. Subledger to GL reconciliation 2. Close monitoring and reconciliation
Topic 2: Journal Processing	- Journal creation and management 1. Manual journals 2. Recurring journals - Journal approvals and posting 1. Approval workflows 2. Posting process and controls
Topic 3: Security and Integration	- Role-based access control 1. Financial roles and privileges - Integration with subledgers 1. Data import and export processes 2. AP/AR integration with GL
Topic 4: Advanced Financials Features	- Intercompany accounting 1. Intercompany transactions 2. Balancing and eliminations - Allocations and automation 1. Allocation rules 2. Automated accounting processes
Topic 5: General Ledger Configuration	- Accounting configuration 1. Accounting calendars 2. Currency setup and revaluation - Enterprise structure setup for Financials 1. Ledger configuration 2. Chart of Accounts design and setup

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Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q82-Q87):

NEW QUESTION # 82
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A. Each product has its own Intercompany Accounting feature that needs to be configured separately.
B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
C. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
D. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.

Answer: A,B

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 # 83
Your UK operation has a requirement to maintain its ledger balances in USD to facilitate reporting to the parent company. A balance-level reporting currency has been created and linked to the primary ledger.
How are balances transferred to the reporting currency?

A. By running the Revalue Balances process at month end
B. By running the Journal Import process
C. By running the final Create Accounting process at month end
D. By running the Translate General Ledger Account Balances process

Answer: D

NEW QUESTION # 84
You are setting up Close Monitor for your organization. What is the key consideration when selecting the ledgers or ledger sets that form part of the Close Monitor hierarchy?

A. The members of the Close Monitor hierarchy must all share the same accounting convention.
B. The members of the Close Monitor hierarchy must share a common Chart of Accounts and calendar.
C. The members of the Close Monitor hierarchy must all be primary ledgers or secondary ledgers.

Answer: B

NEW QUESTION # 85
What is the key function of currency translation?

A. Adjusting the accounted value of foreign currency-denominated balances according to current conversion rates.
B. Creating unrealized gain or loss journals for foreign currency transactions.
C. Measuring current financial transactions that are denominated or stated in an accounting currency into the functional currency of the entity.
D. Expressing the functional currency financial results of a subsidiary in the entity's reporting or consolidated currency.

Answer: D

Explanation:
Currency translation is used to restate ledger-currency balances into another currency for reporting, consolidation, or management reporting. In Oracle General Ledger, translation is commonly used when a subsidiary maintains its functional currency but the parent company requires financial statements in a different reporting or consolidated currency. This is different from revaluation, which adjusts foreign-currency-denominated account balances using current rates and records unrealized gains or losses. It is also different from transaction conversion, which converts individual transactions into the ledger currency at transaction time. Translation operates on account balances, not individual source transactions. Oracle documentation describes translation as restating actual account balances from the ledger currency to a reporting currency using translation processes and rates.

NEW QUESTION # 86
You notice that a lot of erroneous address data is being saved. How do you ensure that only valid addresses are entered in the system?

A. Define the Geography Validation for Country option to No Validation.
B. Redefine the location structure.
C. Redefine the geography hierarchy.
D. Define the Geography Validation for Country option to Error.

Answer: D

Explanation:
Geography validation is a feature that enables you to validate the address information entered for a location against the geography hierarchy defined for a country. You can set the Geography Validation for Country option to one of the following values:
No Validation: No validation is performed on the address information.
Warning: A warning message is displayed if the address information does not match the geography hierarchy, but the user can still save the address.
Error: An error message is displayed if the address information does not match the geography hierarchy, and the user cannot save the address until the error is corrected. To ensure that only valid addresses are entered in the system, you should set the Geography Validation for Country option to Error. This will prevent users from saving erroneous address data and enforce data quality and accuracy. References:
Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation, Chapter 2: Define Geographies, Section: Geography Validation Oracle Financials Cloud: Implementing Enterprise Structures and General Ledger, Chapter 2: Define Geographies, Section: Geography Validation

NEW QUESTION # 87
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