Free 1Z0-1054-22 Exam Dumps Preview

According to Oracle documentation2, the minimum number of ledgers you need when your company has a legal entity in the UK, US, and Canada and they can all share the same chart of accounts but are required to transact and report in their local currency is three, because each requires a different currency. A ledger is a combination of a chart of accounts, calendar, currency, and accounting method. Therefore, option B is correct.
Option A is incorrect because you cannot have one ledger for different currencies.
Option C is incorrect because you cannot have two ledgers for different currencies.
Option D is incorrect because you don't need four ledgers for this scenario.

you are not able to use an Account Rule recently created while creating a Journal Entry Rule Set if the Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set or if the Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule
Set. Therefore, options C and D are correct. Option A is incorrect because the Account Rule's conditions are not a factor that prevents you from using it while creating a Journal Entry Rule Set. Option B is incorrect because the Account Rule's chart of accounts having no account values assigned is not a factor that prevents you from using it while creating a Journal Entry Rule Set.

According to the Oracle documentation3, "Oracle Essbase is embedded within Oracle General Ledger and provides multidimensional balances cubes. Every time a transaction or journal is posted in General Ledger, the balances cubes are updated at the same time." Essbase balances cubes are used for interactive reporting and analysis, but also for performing allocations using calculation manager.
Calculation manager enables you to create allocation rules that use balances and budgets from Essbase as sources and targets. The other options are not features that leverage Essbase cubes.

According to Oracle documentation2, you enable invoicing for certain Intercompany transactions on the transaction type. The transaction type defines the characteristics of an intercompany transaction, such as whether it requires approval, whether it generates invoices, and what accounting rules apply. You can enable invoicing for a transaction type by selecting the Invoicing Options tab and choosing the invoice method, invoice source, invoice batch source, and invoice rule. Therefore,
option D is correct.
Option A is incorrect because you do not enable invoicing on the transaction batch.
Option B is incorrect because you do not enable invoicing on the transaction category.
Option C is incorrect because you do not enable invoicing on the transaction source.

Supervisory level approval is the most effective AMX builder method for routing the journals to the Accounting Manager when his subordinate, The General Accountant, enters a journal. Supervisory level approval routes journals based on the management hierarchy defined in Human Capital Management (HCM). The Accounting Manager would be the direct supervisor of The General Accountant in HCM, and therefore would receive the journal for approval. Cost center based approval routes journals based on the cost center segment value of the journal lines. Dynamic Approval Groups routes journals based on user-defined conditions and approval groups. Management Chain approval routes journals based on user-defined management chains and approval levels. Approval Groups routes journals based on user-defined approval groups and rules.
References:
Oracle Financials Cloud: General Ledger 2022 Implementation
Professional Objectives-Configure Journal Approval 12

you can define intercompany balancing rules at various levels, such as primary balancing segment, legal entity, ledger, and chart of accounts. The rules are evaluated in the order shown, so the primary balancing segment rule has the highest precedence and the chart of accounts rule has the lowest precedence.
Therefore, option B is correct. You can also create a rule for all sources and categories by selecting the source "Other" and the category "Other"1. Therefore,
option A is correct.
Option C is incorrect because you don't need to define rules for every combination of specific categories and sources. If no rule is found for a specific combination, then the rule for all sources and categories is used 1.
Option D is incorrect because you don't need to set up a chart of accounts rule for every chart of accounts structure. You can set up a rule for a specific chart of accounts or for all charts of accounts 1.

According to Oracle documentation4, when you have a subsidiary company in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP, you should configure the ledgers using these two ledger types: a primary ledger with the local accounting convention, and a secondary ledger with the IFRS accounting convention. A primary ledger represents your main accounting books that comply with local GAAP. A secondary ledger represents an alternative accounting representation that complies with IFRS. Therefore, options A and D are correct.
Option B is incorrect because a reporting currency with the IFRS accounting convention does not represent an alternative accounting representation.
Option C is incorrect because a primary ledger with the IFRS accounting convention does not comply with local GAAP.
Option E is incorrect because a reporting currency with the local accounting convention does not represent an alternative accounting representation.

According to Oracle documentation3, when creating financial statements, you would like to have a chart, such as a bar graph, included in the report output, you can use Financial Reporting Studio and Smart View as two reporting tools that allow you to achieve this. Financial Reporting Studio enables you to design and generate reports with charts using data from various sources. Smart View enables you to access and analyze data with charts from various sources using Excel. Therefore, options A and C are correct. Option
B is incorrect because Account Inspector does not allow you to create charts in financial statements.
Option D is incorrect because Financial Statement Generator does not allow you to create charts in financial statements.

References:
https://docs.oracle.com/en/cloud/saas/financials/20d/faigl/financial-reporting.html#FAIGL513446

According to Oracle documentation1, you should do the following things when you are implementing a multipillar implementation of both HCM Cloud and ERP Cloud: Deploy your chart of accounts, use HCM's
Enterprise Structure Configurator (ESC) first, and use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies. Therefore, options A, B, and D are correct.
Option C is incorrect because you should create your chart of accounts in the following order: value sets, COA structure instance, and then assign values to the value sets.
Option E is incorrect because you should use the Rapid Implementation spreadsheet when creating your chart of accounts, not your enterprise structure.

According to Oracle documentation3, when creating financial reports, the two tools that use data from the General Ledger Balances Cube are Financial Reporting Studio and Smart View. Financial Reporting Studio is a graphical user interface that enables you to design and generate reports using data from various sources, including General Ledger Balances Cube. Smart View is an Excel add-in that enables you to access and analyze data from various sources, including General Ledger Balances Cube. Therefore, options A and B are correct.
Option C is incorrect because Oracle Financial Statement Generator does not use data from the General Ledger Balances Cube.
Option D is incorrect because Financial Reporting Center does not use data from the General Ledger Balances Cube.

According to Oracle documentation1, the most efficient way to update your existing cross-validation rules when you have redesigned your chart of accounts is to use Cross-Validation Rules Import file-based data import (FBDI). FBDI enables you to import cross-validation rules from a spreadsheet template into General Ledger. You can use FBDI to create new rules, update existing rules, or delete rules. Therefore, option C is correct.
Option A is incorrect because using the Manage General Ledger Security page does not enable you to update cross-validation rules.
Option B is incorrect because creating Cross-Validation Rules desktop-integrated spreadsheet does not enable you to update cross-validation rules.
Option D is incorrect because using the Manage Cross-Validation Rules page does not enable you to update cross-validation rules efficiently.

According to Oracle documentation3, you should use Application Developer Framework Desktop Integrator (ADFdi) to load data from your budgeting application into a .csv file into General Ledger. ADFdi enables you to use Excel spreadsheets to load data into General Ledger using web services. You can use ADFdi to create budget journals or budget balances from your .csv file. Therefore, option D is correct.
Option A is incorrect because the budget journal spreadsheet is not a tool to load data into General Ledger.
Option B is incorrect because Enterprise Resource Budget Integrator is not a tool to load data into General Ledger.
Option C is incorrect because File Based Data Import is not a tool to load data into General Ledger.

References:
https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/budgets.html#FAIGL817044

This is the recommended method for creating fully balanced balance sheets for multiple segments. By qualifying the segments as balancing segments, you can ensure that each segment value has a balanced set of asset, liability, and equity accounts. You can also use segment value security rules to restrict access to segment values based on user roles. This method also allows you to use different currencies for each segment value and perform currency translation at the segment level.
References:
Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Configure Enterprise and Financial Reporting Structures-Define Chart of Accounts Segments 12

The two true statements regarding cross-validation rules are that you need to run the Cross-Validation Rules process to list and optionally disable combinations that violate rules, and that the rules will validate and apply to new and existing accounts. The Cross-Validation Rules process is a scheduled process that identifies existing account combinations that violate cross-validation rules and optionally disables them.
You can run this process after defining or modifying cross-validation rules to ensure data integrity. The cross-validation rules will validate and apply to new and existing accounts, as they are enforced whenever an account combination is created or updated. The rules do not apply to new accounts only, as they also apply to existing accounts. There is no need to run the Cross-Validation Rule Violations process, as this is not a supported option. There is no need to create cross-validation rules if Dynamic Combination Creation Allowed is not enabled for your chart of accounts instance, as this is not a relevant factor. Dynamic Combination Creation Allowed is an option that determines whether users can create new account combinations on the fly or only use predefined combinations.

References:
Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Define
Chart of Accounts 12

According to Oracle documentation2, when you want to achieve multi-step cascading allocations, you should use RuleSets. RuleSets enable you to group multiple allocation rules together and run them in a specific sequence. You can use RuleSets to perform cascading allocations, where the output of one rule becomes the input of another rule. Therefore, option A is correct.
Option B is incorrect because formulas are used to define the calculation logic of allocation rules, not to group them together.
Option C is incorrect because point of view (POV) is used to define the scope and context of allocation rules, not to group them together.
Option D is incorrect because general ledger journal entries are used to record the results of allocation rules, not to group them together.

References:
https://docs.oracle.com/en/cloud/saas/financials/20b/faigl/allocations-and-periodicentries.html#FAIGL990115

you need to define journal conversion rules that include subledgers in order to transfer subledger transactions when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Journal conversion rules define how journal entries are converted from one ledger to another ledger. Therefore, option B is correct. You also need to assign a Subledger Accounting Method to the secondary ledger when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. A Subledger Accounting Method defines how accounting entries are generated for subledger transactions. Therefore,
option D is correct.
Option A is incorrect because you don't need to ensure that the Accounting Calendar and Currency are the same as the Primary Ledger when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. You can have different Accounting Calendar and Currency for your secondary ledger.
Option C is incorrect because you don't need to define journal conversion rules that exclude subledgers when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. You need to include subledgers in your journal conversion rules.
Option E is incorrect because you don't need to define Supporting References with balances when you set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Supporting References are used to store additional information for journal lines.

"The Application Development Framework Desktop Integration Budget Balances Report is a spreadsheet-based report that you can use to view budget balances for a selected budget and period range." This feature does not belong on the list of features that can be used to view budget balances after loading your budget data into General Ledger Cloud. The other features are Account Monitor, Smart View, and Account Inspector, which are all tools that can access Essbase balances cubes and display budget information.

you can use the Freeze feature on the tables to scroll through large amounts of data. The Freeze feature allows you to lock one or more columns or rows so that they remain visible as you scroll through the table.
Therefore, option A is correct. You can also export the table to Excel to view large amounts of data. The Export feature allows you to download the table data as an Excel file that you can open and manipulate offline. Therefore,
option C is correct.
Option B is incorrect because running a Business Intelligence Publisher report with Excel as the output format will not help you view large amounts of data contained in the tables in your work areas.
Option D is incorrect because detaching the table to resize it to the maximum size of the monitor will not help you view large amounts of data contained in the tables in your work areas.

The two uses of the Column Flattening and Row Flattening features are to set the status of a tree to active and to verify correctness of trees. Column Flattening and Row Flattening are features that optimize parent-child information for run-time performance by storing additional rows or columns in a table for instantly finding all descendants or ancestors of a node without initiating a recursive query. Column Flattening and Row Flattening are required to set the status of a tree to active, as they ensure that the tree data is consistent and accurate. Column Flattening and Row Flattening are also useful to verify correctness of trees, as they allow users to view and analyze the flattened hierarchy data using various tools such as Oracle Analytics Publisher or Oracle Transactional Business Intelligence. You do not use Column Flattening and Row Flattening to create additional versions of a tree, as this is a feature that allows users to copy an existing tree version and make changes to it without affecting the original version. You do not use Column Flattening and Row Flattening to view information for runtime performance, as this is a feature that allows users to monitor and measure the performance of various processes or tasks in Oracle Fusion Applications. You do not use Column Flattening and Row Flattening to optimize parent/child relationships, as this is a feature that allows users to define rules and constraints for how nodes can be related to each other in a tree structure.
References:
Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Define
Chart of Accounts 12

Account Inspector is a tool that allows you to create a Financial Income Statement using data from General Ledger Cloud. You can select an income statement account or an account group and view the account balance and its components, such as subledger details, journal lines, and supporting references. You can also drill down to the underlying transactions and subledger applications. You can customize the layout and appearance of the income statement and export it to Excel or PDF. One View Reporting is a tool that allows you to create reports using data from Oracle E-Business Suite applications, not Oracle Financials Cloud. PS/nVision is a tool that allows you to create reports using data from PeopleSoft applications, not Oracle Financials Cloud. Rapid Implementation Enterprise Structures setup is a tool that allows you to set up enterprise structures for Oracle Financials Cloud, not create financial statements.
References:
Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Create Financial Reports
12