Practice 1Z0-1054-23 Exam Online

Question 1

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

A : Account Monitor

B : Financial Reports with Embedded charts

C : Smart View

D : Account Inspector and its charts

Answer: A

Question 2

A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal

reports under local GAAP, is about to configure their General Ledger.

Given the following:

Subledgers transferring to general ledger must use the local currency.

There is a requirement to report to the parent company (not local currency) using International Financial

Reporting Standards (IFRS).

Which two ledger types should be configured to address this reporting requirement? (Choose two.)

A : a primary ledger with the local accounting convention

B : a reporting currency with the IFRS accounting convention

C : a primary ledger with the IFRS accounting convention

D : a secondary ledger with the IFRS accounting convention

E : a reporting currency with the local accounting convention

Answer: A,C

Question 3

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

Answer: A,B,C

Question 4

What are the two benefits of having the Essbase cube embedded in General Ledger Cloud? (Choose two.)

A : Posting performance is much faster

B : Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules

C : General ledger balances are multidimensional, allowing you to perform robust reporting and analysis

D : You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously

E : You no longer need to create and maintain hierarchies because the Essbase cubes are created when you create your chart of accounts

Answer: C,D

Question 5

You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What so you need to enable?

Name:	Oracle Financials Cloud: General Ledger 2023 Implementation Professional
Exam Code:	1Z0-1054-23
Certification:	Oracle Cloud
Vendor:	Oracle
Total Questions:	149
Last Updated:	Apr 22, 2024

Oracle 1Z0-1054-23