Exam Name: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1z0-1054-20 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2020 Implementation Essentials |
| Exam Number: | 1Z0-1054-20 |
| Real Exam Qty: | 55 |
| Available Languages: | Japanese, English |
| Certificate Validity Period: | 18 months from date of pass |
| Related Certifications: | Oracle Financials Cloud Oracle Fusion Cloud Financials |
| Exam Format: | Multiple Choice, Multiple Response |
| Passing Score: | 60% |
| Exam Price: | USD 245 |
| Exam Duration: | 85 minutes |
| Recommended Training: | Oracle Financials Cloud: General Ledger 2020 Implementation Training |
| Exam Registration: | Pearson VUE Scheduling Oracle University Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored or onsite at Pearson VUE test centers |
| Pre Condition: | No mandatory prerequisites; recommended hands-on experience with Oracle Financials Cloud General Ledger |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-general-ledger-2020-implementation-essentials/pexam_1Z0-1054-20 |
Oracle 1z0-1054-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Budgetary Control and Encumbrance | 10% | - Monitor budget consumption - Configure and process encumbrance journals - Set up budgetary control |
| Topic 2: Enterprise and Ledger Configuration | 25% | - Configure legal entity structure - Define primary, secondary ledgers and reporting currencies - Configure Chart of Accounts security - Set up accounting calendars and currencies - Design and configure Chart of Accounts |
| Topic 3: Subledger and Intercompany Accounting | 20% | - Create and manage subledger accounting rules - Configure intercompany setup and balancing rules - Process intercompany transactions and reconciliations |
| Topic 4: Journal Processing | 20% | - Define allocations and periodic entries - Set up journal approval rules - Process manual and automated journal entries - Manage journal descriptions and supporting references |
| Topic 5: Period Close and Consolidation | 15% | - Configure and run revaluation and translation - Perform period close process - Execute consolidations and reconciliations |
| Topic 6: Reporting and Analytics | 10% | - Use Financial Reporting Studio - Explore OTBI and General Ledger subject areas - Leverage Smart View and General Accounting Dashboard |
Oracle 1z0-1054-20 Certification Exam FAQ
The 1z0-1054-20 exam, Oracle Financials Cloud: General Ledger 2020 Implementation Essentials, assesses whether a candidate can apply Oracle knowledge to the skills measured by this credential. It is associated with the Oracle Financials Cloud: General Ledger 2020 Certified Implementation Specialist certification. The certification is positioned at the Specialist level. Related credentials include Oracle Financials Cloud, Oracle Fusion Cloud Financials.
The 1z0-1054-20 exam includes 55 questions and allows 85 minutes. Plan your pacing before exam day rather than calculating it under pressure. Timed sessions with Actual4dump practice tests can help you decide when to flag a difficult item, keep moving, and reserve enough time for a final review.
The published passing score for Oracle Financials Cloud: General Ledger 2020 Implementation Essentials is 60%, and the official exam fee is USD 245. A retake requires budgeting for the full official fee again, so it is sensible to complete several timed practice tests before scheduling. Consistent results across the 103 practice questions can give you a clearer picture of your readiness.
The stated prerequisite information for Oracle Financials Cloud: General Ledger 2020 Implementation Essentials is: No mandatory prerequisites; recommended hands-on experience with Oracle Financials Cloud General Ledger Before registering, review the eligibility details on the official exam page to confirm the requirements.
You can register for Oracle Financials Cloud: General Ledger 2020 Implementation Essentials through the following channels:
The available exam delivery format is Online proctored or onsite at Pearson VUE test centers.
The following official training resources are recommended for Oracle Financials Cloud: General Ledger 2020 Implementation Essentials:
After reviewing these training options, you can reinforce each topic with 103 practice questions from Actual4dump.
Yes. Actual4dump provides a free PDF demo so you can review the format and quality of the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials practice questions before placing an order. Your purchase includes 365 days of free updates, and you can extend the update service after expiration at a 50% discount.
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The published Oracle Financials Cloud: General Ledger 2020 Implementation Essentials outline contains 6 major domains. The opening domains include:
- Budgetary Control and Encumbrance (10%)
- Journal Processing (20%)
- Subledger and Intercompany Accounting (20%)
Review the complete Exam Topics section above for every domain and subtopic before planning your study time.
Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Sample Questions:
Question 1
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 budget will increase by USD 100 and the funds available will decrease by USD 100
C. The budget and funds available will increase by USD 100
D. The funds reserved for the purchase order is reinstated while the invoice expenditure is reserved by USD
100
Question 2
Management wants to use the budget transfer function available on the Review Budgetary Control Balances page. Which privilege is required to perform the budget transfer?
A. Manage Control Budgets (XCC_MANAGE_CONTROL_BUDGETS_PRIV)
B. Import Budget Amounts from Spreadsheet
(XCC_IMPORT_BUDGET_FROM_SPREADSHEETS_PRIV)
C. Budget Loading (XCC_BUDGET_LOADING_DUTY_PRIV)
D. Import Budget Amounts (XCC_IMPORT_BUDGET_PRIV)
Question 3
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
A. Journal Entry
B. Event Class
C. Event Type
D. Journal Entry Rule Set
E. Journal Line Rule
Question 4
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization.
D18912E1457D5D1DDCBD40AB3BF70D5D
After opting in the new feature Spend Authorization with Budgetary Control, what additional three actions need to be accomplished to activate this feature? (Choose three.)
A. Rebuild the Budgetary Control Cube
B. Enable spend authorization
C. Enable Payment Request Subtypes
D. Rebuild the GL Balances Cube
E. Create a Payment Process Profile
Question 5
You are defining intercompany balancing rules that are applied to a specific source and category, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)
A. You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.
B. If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value.
C. You can create a rule for all sources and categories by selecting the source "Other" and the category
"Other".
D. Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.
Solutions:
| Question 1 Answer: D | Question 2 Answer: D | Question 3 Answer: E | Question 4 Answer: A,B,C | Question 5 Answer: C,D |
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