Oracle Financials Cloud: General Ledger 2023 Implementation Professional : 1z0-1054-23 Exam

  • Exam Code: 1z0-1054-23
  • Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
  • Updated: Aug 23, 2026
  • Q & A: 52 Questions and Answers

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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionWeightObjectives
Period Close and Financial Reporting20%- Financial Reporting
  • 1. Analyze budgets versus actuals
    • 2. Use Smart View for analysis
      • 3. Create and run financial reports
        - Perform Period Close
        • 1. Reconcile balances
          • 2. Manage accounting periods
            • 3. Execute period close processes
              Enterprise and Financial Reporting Structures20%- Configure Enterprise Structures
              • 1. Set up chart of accounts structure and instances
                • 2. Configure segment labels and value sets
                  • 3. Define legal entities and business units
                    - Configure Financial Reporting Structures
                    • 1. Create accounting hierarchies
                      • 2. Define reporting views and dimensions
                        Intercompany Accounting15%- Configure Intercompany
                        • 1. Enable intercompany invoicing
                          • 2. Process intercompany transactions and reconciliation
                            • 3. Set up intercompany balancing rules
                              Journal Processing and Approval20%- Manage Journals
                              • 1. Define allocation and recurring journals
                                • 2. Create, import, and post journals
                                  • 3. Configure journal approval rules
                                    Ledgers and Accounting Setup25%- Budgetary Control and Encumbrance
                                    • 1. Enable budgetary control
                                      • 2. Define encumbrance accounting rules
                                        - Configure Ledgers
                                        • 1. Configure ledger options and subledger accounting rules
                                          • 2. Set up calendars, currencies, and accounting conventions
                                            • 3. Define primary and secondary ledgers

                                              Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

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

                                              A) View information for runtime performance.
                                              B) Set the status of a tree to active.
                                              C) Create additional versions of a tree.
                                              D) Optimize parent/child relationships.
                                              E) Verify correctness of trees.


                                              2. Which delivered role can access the full functionality of Functional Setup Manager?

                                              A) Application Implementation Manager
                                              B) Functional Setup Manager Superuser
                                              C) Any functional user
                                              D) Application Implementation Consultant
                                              E) IT Security Manager


                                              3. A new Oracle Fusion Cloud client needs to produce an income statement on a regular basis using Smart View.
                                              Which Smart View tool would be best for this?

                                              A) Account Groups
                                              B) Smart Queries
                                              C) Smart Slices
                                              D) Query Designer


                                              4. Your ledger currency is USD. At month end, you have a balance on the Accounts Payable Liability Account of
                                              100,000 Euros, which is equivalent to 136,550 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.3755 USD.
                                              What two statements are true about the resulting revaluation run?

                                              A) There is no unrealized exchange gain or loss calculated.
                                              B) You have an unrealized exchange gain recorded.
                                              C) The original journal entry in Euros remains the same.
                                              D) The original journal entry in Euros is updated.
                                              E) You have an unrealized exchange loss recorded.


                                              5. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
                                              100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
                                              The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
                                              What two statements are true for the resulting revaluation run? (Choose two.)

                                              A) There is no unrealized exchange gain or loss calculated.
                                              B) You have an unrealized exchange gain recorded.
                                              C) The original journal entry in Euros remains the same.
                                              D) The original journal entry in Euros is updated.
                                              E) You have an unrealized exchange loss recorded.


                                              Solutions:

                                              Question # 1
                                              Answer: B,E
                                              Question # 2
                                              Answer: A
                                              Question # 3
                                              Answer: D
                                              Question # 4
                                              Answer: C,E
                                              Question # 5
                                              Answer: B,E

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