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

• Question 31:

  When creating your financial statements, you would like to have a chart, such as a bar graph, included in the report output.

  Which two reporting tools allow you to achieve this? (Choose two.)

  A. Financial Reporting Studio

  B. Account Inspector

  C. Smart View

  D. Financial Statement Generator

  Correct Answer: AC

  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.

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

• Question 32:

  You want to monitor the close process of all your financial subledgers and ledgers. How can you quickly obtain this information?

  A. Use the Manage Accounting Periods page to view the status of all subledgers and ledgers

  B. Access each subledgers' calendar and General Ledger's Manage Accounting Periods page to view the status of each period

  C. Run Closing Status reports

  D. Use Close Monitor in General Accounting Dashboard

  Correct Answer: D

  "Close Monitor provides a centralized place to monitor and manage your close process across subledgers and ledgers. You can view the status of each subledger and ledger period, drill down to subledger details, and take action on open periods." Therefore, this is the best way to quickly obtain information about the close process of all your financial subledgers and ledgers.

• Question 33:

  What are two uses of the Column Flattening and Row Flattening features? (Choose two.)

  A. Set the status of a tree to active.

  B. Create additional versions of a tree.

  C. Verify correctness of trees.

  D. View information for runtime performance.

  E. Optimize parent/child relationships.

  Correct Answer: AC

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

• Question 34:

  You want to prevent intercompany transactions from being entered during the last 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 Manager Accounting Periods page

  D. Close Intercompany periods in Fusion Intercompany

  Correct Answer: D

  To prevent intercompany transactions from being entered during the last day of the close, you should close intercompany periods in Fusion Intercompany. This will prevent users from creating or modifying intercompany transactions for the

  closed periods. You do not need to freeze the Intercompany journal source in General Ledger, as this will not prevent users from creating intercompany transactions in Fusion Intercompany. You do not need to close all subledger periods, as

  this will not prevent users from creating intercompany transactions in Fusion Intercompany. You do not need to close the General Ledger period in the Manager Accounting Periods page, as this will not prevent users from creating

  intercompany transactions in Fusion Intercompany.

  Reference: Oracle Financials Cloud:

  General Ledger 2022 Implementation Professional Objectives-Configure and Process Intercompany 12VVVVVVVVVVVVVVV

• Question 35:

  Your company has a legal entity in the UK, US, and CanadA. They can all share the same chart of accounts but are required to transact and report in their local currency.

  What is the minimum number of ledgers you need and why?

  A. One, because they can all share the same chart of accounts

  B. Three, because each requires a different currency

  C. Two, because the US and Canada can share the same ledger because they are in North America

  D. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting

  Correct Answer: B

  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.

• Question 36:

  You are defining an income statement report using Financial Reporting Studio. Users of the report need to be able to analyze the balances directly from the report.

  What should you enable to allow this?

  A. Nothing. All report are drillable

  B. Drill Through in Grid Properties

  C. Drill Down in Report Functions

  D. Allow Expansion in Report Functions

  Correct Answer: B

  To enable users of the income statement report to analyze the balances directly from the report, you should enable Drill Through in Grid Properties. This option allows users to drill down from summary balances to journal details and subledger transactions using Smart View or Financial Reporting Web Studio. You do not need to enable anything else, as all reports are drillable by default if Drill Through is enabled in Grid Properties. You do not need to enable Drill Down in Report Functions, as this option allows users to drill down within a report using different dimensions and hierarchies, but not to originating transactions. You do not need to enable Allow Expansion in Report Functions, as this option allows users to expand or collapse members within a report using different dimensions and hierarchies, but not to originating transactions.

  Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Create Financial Reports 12

• Question 37:

  The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?

  A. Budget Controller

  B. Budget Group

  C. Account Group

  D. Budget Account Group

  E. Application Development Framework Desktop Integration (ADFdi)

  Correct Answer: D

  According to the Oracle documentation1, "Budget Monitor in the Budgetary Control Dashboard enables you to monitor budget consumption for your choice of key accounts. You can start at a high level and then drill down to any segment along your choice of single or multi-level hierarchy." To define the details while analyzing budget balances in the Budget Account Monitor page, you must use a budget account group, which is a collection of line items that you want to monitor. You can create your own private budget account groups or use public budget account groups created by a centralized user.

• Question 38:

  In the implementation project, there is a requirement to add new transactional attributes to the journal approval notification.

  Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

  A. The layout Template

  B. Output type

  C. The Style Template

  D. The Sub Template

  E. The Data Model

  Correct Answer: BE

  To add a global branding logo and more predefined transactional attributes to the journal approval email notification, you should copy (or customize) and edit the layout template and the data model. The layout template is a file that defines the appearance and content of the notification, such as text, images, tables, or charts. The data model is a file that defines the data sources and queries that provide data for the notification, such as predefined transactional attributes. You can copy (or customize) and edit the layout template and the data model using Oracle Analytics Publisher reports. You do not need to copy (or customize) and edit the output type, as this is a setting that determines the format of the notification output, such as HTML or PDF. You do not need to copy (or customize) and edit the style template, as this is a file that defines the styles and formatting of the notification elements, such as fonts, colors, or margins. You do not need to copy (or customize) and edit the sub template, as this is a file that contains reusable content or logic that can be referenced by multiple layout templates.

  Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Configure Workflow Approvals and Notifications 12

• Question 39:

  You want to achieve multi-step cascading allocations, which feature do you use?

  A. RuleSets

  B. Formulas

  C. Point of View (POV)

  D. General Ledger journal entries

  Correct Answer: A

  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.

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

• Question 40:

  The Cloud Client wants to add a global branding logo and more predefined transactional attributes to the journal approval email notification.

  Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)

  A. Output type

  B. The layout-Template

  C. The Data Model

  D. The Data Source

  E. The Sub_Template

  Correct Answer: BC

  To add a global branding logo and more predefined transactional attributes to the journal approval email notification, you should copy (or customize) and edit the layout template and the data model. The layout template is a file that defines the appearance and content of the notification, such as text, images, tables, or charts. The data model is a file that defines the data sources and queries that provide data for the notification, such as predefined transactional attributes. You can copy (or customize) and edit the layout template and the data model using Oracle Analytics Publisher reports. You do not need to copy (or customize) and edit the output type, as this is a setting that determines the format of the notification output, such as HTML or PDF. You do not need to copy (or customize) and edit the data source, as this is a component of the data model that specifies where data for the notification comes from, such as an SQL query or an XML file. You do not need to copy (or customize) and edit the sub template, as this is a file that contains reusable content or logic that can be referenced by multiple layout templates.

  Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives-Configure Workflow Approvals and Notifications 12