Oracle Oracle Financials Cloud 1Z0-1054-22 Questions & Answers

• Question 11:

  Your customer has a number of Chart of Account Mapping Rules for their Primary and Secondary ledgers. You decide to use the FBDI template to load the rules.

  Which two statements are true when using this method of entry? (Choose two.)

  A. You can download the template only from the Manage Chart of Accounts Mappings page.

  B. It supports external integration using REST services.

  C. You can create, update, and delete account rules for a chart of accounts mapping.

  D. You can create, update, and delete segment rules for a chart of accounts mapping.

  Correct Answer: CD

  According to Oracle documentation3, when using FBDI template to load Chart of Account Mapping Rules for their Primary and Secondary ledgers, you can create, update, and delete account rules for a chart of accounts mapping, and you can create, update, and delete segment rules for a chart of accounts mapping. FBDI enables you to import chart of accounts mapping rules from a spreadsheet template into General Ledger. You can use FBDI to manage both account rules and segment rules for a chart of accounts mapping. Therefore, options C and D are correct. Option A is incorrect because you can download the template from other pages besides the Manage Chart of Accounts Mappings page. Option B is incorrect because FBDI does not support external integration using REST services.

• Question 12:

  You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.

  Identify the two Oracle recommended ways to accomplish this. (Choose two.)

  A. Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

  B. Use a report batch to run reports at a specific time to create a set of snapshot reports

  C. Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

  D. Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

  E. Use OTBI to create multiple reports that you save to a folder that only the users can access

  Correct Answer: BC

  you can use a report batch to run reports at a specific time to create a set of snapshot reports. A report batch is a collection of reports that you can schedule and run together. Therefore, option B is correct. You can also use Workspace to assemble multiple reports into a book that can be printed and viewed individually or as an entire book. A book is a collection of reports that you can organize into sections and chapters. Therefore, option C is correct. Option A is incorrect because BI Publisher is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting. Option D is incorrect because Smartview is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting. Option E is incorrect because OTBI is not an Oracle recommended way to create a month-end reporting package for an upcoming Audit Committee meeting.

• Question 13:

  Account combinations can be created and/or modified using the Import Account Combinations file-based data import (FBDI).

  Which represents the appropriate upload steps?

  A. Submit the Import Account Combinations process, then insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template.

  B. Insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.

  C. Insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process.

  D. Submit the Import Account Combinations process, then insert rows into the GL_BULK_COMBINATIONS_INT table using the FBDI template.

  Correct Answer: C

  The Import Account Combinations process is used to create and/or modify account combinations using a file-based data import (FBDI). The appropriate upload steps are to insert rows into the GL_MULTI_COMBINATIONS_INT table using the FBDI template and then submit the Import Account Combinations process2.

• Question 14:

  What are the three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle

  Business Intelligence Applications (OBIA)? (Choose three.)

  A. Cloud customers can use both OTBI and OBIA

  B. OTBI allows you to create custom reports from real-time transactional data against the database directly

  C. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.

  D. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.

  E. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

  Correct Answer: BCE

  OTBI and OBIA are two different types of business intelligence solutions offered by Oracle. OTBI is a real-time reporting tool that allows you to create custom reports and dashboards from transactional data in Oracle Cloud Applications. OTBI queries the database directly and does not require any data warehouse or ETL processes. OBIA is a prebuilt analytics solution that uses a universal data warehouse design and different adapters to connect to various source applications, such as E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications. OBIA provides a set of predefined reports and dashboards based on best practices and industry standards. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Use Oracle Transactional Business Intelligence (OTBI) 12

  Reference: https://blogs.oracle.com/prajkumar/otbi-vs-obia-v2

• Question 15:

  You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)

  A. You must re-deploy the chart of accounts

  B. A Data Access Set with full read/write access to the ledger is automatically created

  C. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration

  D. You must assign the job role and data security context to each user

  Correct Answer: BD

  you must assign the job role and data security context to each user after you submit the Accounting Configuration. This enables users to access the ledger and perform tasks based on their roles. Therefore, option D is correct. A Data Access Set with full read/write access to the ledger is automatically created after you submit the Accounting Configuration. This allows users to enter and post journals to the ledger. Therefore, option B is correct. Option A is incorrect because you don't need to re-deploy the chart of accounts after you submit the Accounting Configuration. Option C is incorrect because you don't need to define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration. A Data Access Set is automatically created for you.

• Question 16:

  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. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.

  C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.

  D. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.

  Correct Answer: AC

  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.

• Question 17:

  You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel the invoice. What happens to funds available when you cancel an invoice that requires budgetary control?

  A. Funds available will change when the invoice is approved

  B. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD 100

  C. The budget will increase by USD 100 and the funds available will decrease by USD 100

  D. The budget and funds available will increase by USD 100

  Correct Answer: D

  According to Oracle documentation2, what happens to funds available when you cancel an invoice that requires budgetary control is that the budget and funds available will increase by the invoice amount. When you validate an invoice, the budget and funds available are reduced by the invoice amount. When you cancel an invoice, the budget and funds available are restored by the invoice amount. Therefore, option D is correct. Option A is incorrect because funds available will change when the invoice is canceled, not when it is approved. Option B is incorrect because the funds reserved for the purchase order are not affected by the invoice cancellation. Option C is incorrect because the budget will increase by the invoice amount, not decrease by it.

• Question 18:

  When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

  A. Financial Reporting Studio

  B. Smart View

  C. Oracle Financial Statement Generator

  D. Financial Reporting Center

  Correct Answer: AB

  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.

• Question 19:

  Your customer uses Financials Cloud, Projects, Inventory and Procurement.

  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 set up separately

  B. Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals

  C. Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management D. They need to license a separate stand-alone Intercompany product that acts as the Intercompany Accounting Hub

  Correct Answer: BC

  Intercompany Balancing Rules are used to automatically create balancing entries for intercompany transactions that span different ledgers or legal entities within a ledger. They are defined centrally in the Manage Intercompany Balancing Rules task and can be applied across Financials and Project Portfolio Management products. Intercompany Balancing Rules can also be used to balance single-ledger intercompany journals that have different balancing segment values for the debit and credit lines.

  Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Configure and Process Intercompany 12

• Question 20:

  When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?

  A. Make sure to flatten the rows of the tree version

  B. Make sure the tree is active

  C. Make sure the tree version was published successfully

  D. Redeploy the chart of accounts

  Correct Answer: C

  "When you publish a tree version, General Ledger creates a flattened version of the tree hierarchy and stores it in a table that Essbase can access. Essbase uses this flattened hierarchy to build dimensions in the balances cube." Therefore, if the tree version is not published successfully, Essbase cannot access the tree hierarchy.