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Oracle 1Z0-1054-26 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Journal Processing | - Journal import and automation - Recurring journals and allocations - Journal creation and approval workflows |
| General Ledger Configuration | - Chart of Accounts structure and segments - Ledger setup and accounting configuration - Accounting calendar and currency setup |
| Security and Controls | - Role-based access control in General Ledger - Audit and compliance controls |
| Period Close and Reconciliation | - Period close process in General Ledger - Account reconciliation and balancing |
| Financial Reporting | - Financial Statement Generator (FSG) and reporting tools - Real-time reporting and analytics |
Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions:
Your Oracle Fusion Cloud client needs to store balances such as floor space, number of employees, quantities purchased for use in journal allocations, and financial reporting.
Currently, in their test environment, they are unable to record statistical amounts.
What is the reason?
- A. The currency STAT does not have the ISO currency flag enabled.
- B. The currency STAT does not have the statistical unit type enabled.
- C. The ledger currency does not have the derivation flag enabled.
Correct Answer: B 🗳️
A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger. The two accounting standards are very close.
Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?
- A. Subledger level
- B. Balance level
- C. Journal level
- D. Adjustment only level
- E. FBDI level
Correct Answer: D 🗳️
Explanation: Only visible for GuideTorrent members. You can sign-up / login (it's free).
You have set up Close Monitor for your organization, but when you navigate to the Profit and Loss tab, you see no results for the summarized income statement.
What could be the reason?
- A. An account group is not associated with the ledger set.
- B. An OTBI report is not associated with the ledger set.
- C. A Financial Reporting Web Studio report is not associated with the ledger set.
- D. A trial balance report is not associated with the ledger set.
Correct Answer: A 🗳️
Explanation: Only visible for GuideTorrent members. You can sign-up / login (it's free).
What is the key function of currency revaluation?
- A. Converting the accounted balances from one currency to another target currency
- B. Measuring the current financial transactions that are denominated or stated in an accounting (local) currency into the functional currency of the entity
- C. Adjusting the accounted value of foreign currency denominated balances according to current conversion rates
Correct Answer: C 🗳️
Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.
Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.
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 Shorthand Aliases
Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
Click on the Add Row icon to create a new alias. Enter the following information:
Alias Name: RevDom
Account Template: 101-2000-400000-000-000-000
Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center Enabled: Yes Start Date: Today's date End Date: Blank Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
Account Aliases
Enter a GL Account Alias
Short Hand Alias in Fusion Financials Key Flexfield
How to Enable Account Shorthand Aliases
