NEW 1Z0-1054-24 TEST PATTERN - VALID 1Z0-1054-24 TEST GUIDE

New 1z0-1054-24 Test Pattern - Valid 1z0-1054-24 Test Guide

New 1z0-1054-24 Test Pattern - Valid 1z0-1054-24 Test Guide

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Tags: New 1z0-1054-24 Test Pattern, Valid 1z0-1054-24 Test Guide, Latest 1z0-1054-24 Test Cram, Valid 1z0-1054-24 Test Dumps, 1z0-1054-24 Detailed Study Plan

No doubt the Oracle Financials Cloud: General Ledger 2024 Implementation Professional (1z0-1054-24) certification is one of the most challenging certification exams in the market. This Oracle Financials Cloud: General Ledger 2024 Implementation Professional (1z0-1054-24) certification exam gives always a tough time to Oracle Financials Cloud: General Ledger 2024 Implementation Professional (1z0-1054-24) exam candidates. The VCE4Plus understands this hurdle and offers recommended and real Oracle 1z0-1054-24 Exam Practice questions in three different formats. These formats hold high demand in the market and offer a great solution for quick and complete Oracle Financials Cloud: General Ledger 2024 Implementation Professional (1z0-1054-24) exam preparation.

Oracle 1z0-1054-24 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.
Topic 2
  • Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.
Topic 3
  • Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.
Topic 4
  • Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization's financial operations.
Topic 5
  • Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q24-Q29):

NEW QUESTION # 24
You attempt to activate a tree version, but the audit process fails. In which two ways can you resolve this?

  • A. Ensure that you do not assign children to child values.
  • B. Make sure all users sign out of the calculation manager.
  • C. Run the Publish Chart of Accounts Dimension Members and Hierarchies program.
  • D. Run the Chart of Accounts Deployment process.
  • E. Ensure that parent values have the summary attributes set correctly.

Answer: A,E


NEW QUESTION # 25
For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?

  • A. The existing historical rate is deleted.
  • B. The historical rate is replaced.
  • C. Historical rates are converted into an average rate (original and new rate).
  • D. Nothing, existing historical rates are not updated.

Answer: B

Explanation:
If you use insert in the spreadsheet to load the monthly historical rates by using FBDI, the existing historical rate for a specific ledger, currency, account combination, and accounting period will be replaced by the new rate. This is because the insert action will overwrite the existing rate with the new rate in the GL_HISTORICAL_RATES_INT table. If you want to preserve the existing rate, you should use update or delete actions instead. References:
* How Historical Rates Import Data Is Processed, Section: Use the Historical Rates Import file-based data import (FBDI) template to import historical rates from external and legacy sources to Oracle General Ledger
* Import Historical Rates, Section: Details
* Entering Historical Rates, Section: Entering Historical Rates


NEW QUESTION # 26
You are setting up Close Monitor and want to view high-level profit and loss results for each ledger.
What should you associate with the ledger set to achieve this?

  • A. Financial Reporting Web Studio report
  • B. Account group
  • C. OTBI report
  • D. Trial Balance report

Answer: A

Explanation:
To view high-level profit and loss results for each ledger in the Close Monitor, you need to associate a Financial Reporting Web Studio report with the ledger set. This report should be based on the General Ledger Balances cube and should include the Income Statement accountgroup as a row dimension. The report should also have the ledger set as a point of view dimension and the period and currency as user prompts. This way, you can select the ledger set, period, and currency when you run the report from the Close Monitor and see the aggregated income statement results for each ledger and consolidation node in the ledger set hierarchy. References: Overview of Close Monitor, Using General Ledger, Close Monitor Issue


NEW QUESTION # 27
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. 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.
  • B. 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.
  • C. 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.
  • D. Define an intercompany segment in the chart of accounts. The Intercompany module and theIntercompany 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.

Answer: D


NEW QUESTION # 28
You want toprevent intercompany transactionsfrom being entered during thelast day of the close. What should you do?

  • A. Freeze the Intercompany Journal source in General Ledger.
  • B. Close all subledger periods.
  • C. Close the General Ledger period in the Manage Accounting Periods page.
  • D. Close Intercompany periods in Fusion Intercompany.

Answer: D


NEW QUESTION # 29
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