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Oracle 1z0-1054-23 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Period Close and Financial Reporting | 20% | - Financial Reporting
|
| Enterprise and Financial Reporting Structures | 20% | - Configure Enterprise Structures
|
| Intercompany Accounting | 15% | - Configure Intercompany
|
| Journal Processing and Approval | 20% | - Manage Journals
|
| Ledgers and Accounting Setup | 25% | - Budgetary Control and Encumbrance
|
Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
Task3
Manage Chart of Accounts Mappings
Scenario
Your client needs to consolidate their UK Ledger to the Canadian parent ledger. Each Chart of Accounts has the following segments:
Company-LoB-Account-Cost Center-Product-Intercompany
Know that the Company, LoB, Product, and Intercompany segments share the same value sets.
Create a Chart of Accounts mappings to map UK Chart of Accounts to CA Chart of Accounts that meets the following specifications:
Cost Center Mapping
. Balance Sheet (0 and 000) should be mapped to
Balance Sheet
. All other cost centers should be mapped to 610
Account Mapping
. Asset accounts (in the 1000 range) should be
mapped to account 11101
. Liability accounts (in the 2000 range) should be
mapped to account 22100
. Equity accounts (in the 3000 range) should be
mapped to account 34000
. Revenue accounts (in the 4000 range) should be
mapped to account 42000
. Expense accounts (from 5000 onwards) should be
mapped to account 51100
Note:
Do not use conditions based on parents.
. Treat any account after the 5000 range as an expense.
Ensure all maps are numeric only.
When creating your mapping rules for each segment
please allow for existing and future segment values
Correct Answer:
See the Explanation for the complete Solution.
Explanation
Here are the steps you need to follow:
In the Setup and Maintenance work area, go to the following:
Offering: Financials
Functional Area: Financial Reporting Structures
Task: Manage Chart of Accounts Mapping
Select the source chart of accounts (UK) and the target chart of accounts (CA) that you want to map.
Click on the Segment Rules tab to define the segment mapping rules. Enter the following information for each segment:
Segment Number: 1
Segment Name: Company
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 2
Segment Name: LoB
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 3
Segment Name: Account
Mapping Type: Range
Source From Value: 1000
Source To Value: 1999
Target Value: 11101
Mapping Type: Range
Source From Value: 2000
Source To Value: 2999
Target Value: 22100
Mapping Type: Range
Source From Value: 3000
Source To Value: 3999
Target Value: 34000
Mapping Type: Range
Source From Value: 4000
Source To Value: 4999
Target Value: 42000
Mapping Type: Range
Source From Value: 5000
Source To Value: 99999999
Target Value: 51100
Segment Number: 4
Segment Name: Cost Center
Mapping Type: Value
Source Value: 0
Target Value: Balance Sheet
Mapping Type: Value
Source Value: 000
Target Value: Balance Sheet
Mapping Type: Value
Source Value: *
Target Value: 610
Segment Number: 5
Segment Name: Product
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 6
Segment Name: Intercompany
Mapping Type: Value
Source Value: *
Target Value: *
Click on the Save and Close button to save the segment mapping rules.
You have successfully created a Chart of Accounts mapping for the given scenario.
For more information, you can refer to the following resources:
Overview of the Chart of Accounts Mapping Page
Chart of Accounts Structures and Instances
How To Create A Chart Of Accounts Mapping For A Secondary Ledger
How To Bulk Upload The Mapping Rules In "Manage Chart of Accounts Mapping" Centralized Management of Chart of Accounts Configurations
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.
Correct Answer: B 🗳️
Explanation: Only visible for DumpsReview members. You can sign-up / login (it's free).
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.)
- A. The original journal entry in Euros remains the same.
- B. You have an unrealized exchange loss recorded.
- C. You have an unrealized exchange gain recorded.
- D. The original journal entry in Euros is updated.
- E. There is no unrealized exchange gain or loss calculated.
Correct Answer: B,C 🗳️
Explanation: Only visible for DumpsReview members. You can sign-up / login (it's free).
After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable "Limit a Journal to a Single Currency"?
(Choose two.)
- A. Ledger options
- B. Journal sources
- C. Journal lookup codes
- D. Profile option
- E. Journal category
Correct Answer: A,B 🗳️
Explanation: Only visible for DumpsReview members. You can sign-up / login (it's free).
You need to add new transactional attributes to the journal approval notification in an implementation project.
Which two Business Intelligence catalog objects should you copy (or customize) and edit?
- A. Sub template
- B. Style template
- C. Output type
- D. Layout template
- E. Data model
Correct Answer: D,E 🗳️
Explanation: Only visible for DumpsReview members. You can sign-up / login (it's free).
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