[Q42-Q64] 2022 Updated 1Z0-1054-21 PDF for the 1Z0-1054-21 Tests Free Updated Today!

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2022 Updated 1Z0-1054-21 PDF for the 1Z0-1054-21 Tests Free Updated Today!

Fully Updated Dumps PDF – Latest 1Z0-1054-21 Exam Questions and Answers

QUESTION 42
Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

Additional intercompany balancing and clearing options will need to be defined. Z

Additional intercompany rules will need to be defined for the two additional balancing segment

Every journal where debits do not equal credits across the three balancing segments will need

When entering journals manually, the customer will need to make sure that debits and credits

QUESTION 43
You have exported data from your budgeting application into a .csv file.
What should you use to load that data into General Ledger?

Enterprise Resource Budget Integrator

Application Developer Framework Desktop Integrator

File Based Data Import

The budget journal spreadsheet

QUESTION 44
You want to enter budget data in General Ledger Cloud. Which method is not supported?

Entering budget journals

Application Development Framework Desktop Integration (ADFdi)

Direct budget balance updates from a Financial Statement in Smart View

File-based Data Import

QUESTION 45
Your customer wants to have balance sheets and income statements for its cost center and program segments. That is, the customer wants to have three balancing segments.
Which two recommendations would you give your customer? (Choose two.)

Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry

Additional intercompany rules will need to be defined for the two additional balancing segments

Define Ledger balancing options to balance by second and third balancing segments

When entering journals manually, the customer will need to make sure that debits and credits are equal across all balancing segments because the system will not automatically balance the journal

QUESTION 46
you need to define a chart of accounts includes a intercompany segment. Your customer plans to use segment value security rules for the company segment. What is Oracle’s recommended method to define this chart of accounts?

Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.

Define Two Different Chart of Accounts

Define the company segment only and qualify it as both primary balancing segment and intercompany segment.

Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.

QUESTION 47
You are defining intercompany balancing rules that are applied to a specific source andcategory, such as payable and invoices, or a specific intercompany transaction type, such as Intercompany Sales.
Which two statements are correct? (Choose two.)

You can create a rule for all sources and categories by selecting the source “Other” and the category
“Other”.

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.

You must define rules for every combination of specific categories and sources. Otherwise, the intercompany balancing will not work.

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.

QUESTION 48
You need to create a boardroomready month-end reporting package for an upcoming Audit Committee meeting. You have 10 Financial Reports that you want to share with executives and auditors that are nicely formatted.
What are the two Oracle recommended ways to accomplish this? (Choose two.)

Use BI Publisher to configure the reports and then use bursting to email the reports to the executives and Audit Committee

Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Create a Smartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

Use a report batch to run reports at a specific time to create a set of snapshot reports

Use OTBI to create multiple reports that you save to a folder that only the users can access

QUESTION 49
Your customer uses Financials Cloud, Projects, Inventory and Procurement.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

Each product has its own Intercompany Accounting feature that needs to be set up separately

Within Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger intercompany transactions and single-ledger Intercompany journals

Intercompany Balancing Rules are defined centrally and applied across Financials and Project Portfolio Management

They need to license a separate stand-alone Intercompany product that acts asthe Intercompany Accounting Hub

QUESTION 50
You want to define an allocation rule where segment values are constants (or rules and formulas. What should you do?

Always use the Outer Point of View (POV)

Never use the Outer Point of View (POV)

Specify Run Time Prompts (RTP)

Only specify segment values in formulas.

QUESTION 51
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

They can format certain tables by hiding and showing columns, moving columns, and resizing columns

Users have very little control configuring their Springboards and Work Areas; they can only resize columns

They canhave the System Administrator configuring pages for them using Page Composer

They can use “+” under the Apps section of the News Feed homepage

QUESTION 52
Identify three roles that get access to the reports in the Fusion Accounting Hub Reporting Cloud Service (FAHRCS). (Choose three.)

Financial Analyst

General Accountant Manager

General Accountant

Business Intelligence Administrator (BI Admin)

Controller

QUESTION 53
Your client has been using Budgetary Control for six months. Now, they want to use the Spend Authorization.
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.)

Enable Payment Request Subtypes

Rebuild the GL Balances Cube

Create a Payment Process Profile

Rebuild the Budgetary Control Cube

Enable spend authorization

QUESTION 54
Which Subject area has been enhanced to allow you to drill down from OTBI General Report to a General Journal?

General Ledger – Journal Real Time

General Ledger – Summary Balances Real Time

General Ledger – Journal Balances Real Time

General Ledger – Journal Transaction Balances Real Time

QUESTION 55
After loading your budget data into General Ledger Cloud, you can view budget balances using these features.
Which feature does not belong on the list?

Application Development FrameworkDesktop Integration Budget Balances Report

Account Monitor

Smart View

Account Inspector

QUESTION 56
While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose two.)

The Account Rule’s conditions are not defined

The Account Rule’s chart of accounts has no account values assigned

The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set

The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

QUESTION 57
Your customer wants to enable real-time spending controls for transaction amount but does not need General Ledger journals or balances for purchase orders and requisitions Which implementation option should you suggest?

Enable Encumbrance Accounting only

Enable Budgetary Controi or Encumbrance Accounting

Enable Budgets in General Ledger

Enable Budgetary Control and Encumbrance Accounting

Enable Budgetary Control only

Encumbrance:
Reservation of funds is known as encumbrance. The Thesaurus explains the meaning of encumbrance as
‘burden’ or ‘Load’. The purposes of tracking encumbrances are as follows:
1. Avoid overspending a budget
2. To facilitate effective control and consumption of budget by pre-allocating budget amount
3. To Predict cash outflow and as a general planning tool.
Encumbrance is a commitment to pay in the future for goods or services ordered by not yet received.
The terms encumbrance and commitment are used interchangeably. The budget amount can be reduced by the amount of encumbrance as listed below.
1. On creation where approval is not required.
2. On Approval where the approval is required.
When the goods are received or services are obtained and the invoice is created and matched, then the encumbrance is released and the current year expenditure is accounted.
2.2 Encumbrance Accounting:
Encumbrance accounting is a form of budgetary control within Oracle Applications that enables a company to allocate funding for specific accounts. The funds checking feature which is an integral part of encumbrance accounting, checks for availability of funds on a particular accounting combination.
The funds checking feature can be performed either at the entry level itself before committing the transaction or when the approval is made for the transaction. The approval process checks for the funds check level and the approval is made only when the transaction is passed with the funds check process.
2.3Usage:
The complete use of capabilities of encumbrance accounting, users must enable the budgetary control flag for a set of books. When users enable the budgetary control flag, the system automatically creates encumbrances from requisitions, purchase orders and other transactions originating in feeder systems such as Purchasing and Payables. When users do not enable the budgetary control flag, they can still enter manual encumbrances via journal entry, but Users cannot generate encumbrances from requisitions and purchase orders. Users have two options for using encumbrance data to monitor over- expenditure of a budget. After actual and encumbrances have been posted, users can generate reports to show over-expenditures. Users can also use funds checking to prevent over-expenditures before they occur.

QUESTION 58
You need to create a month-end reporting package for an upcoming Audit Committee meeting, you have 10 financial reports that you want to share with executives and auditors that are nicely formatted.
Identify the two Oracle recommended ways to accomplish this. (Choose two.)

Use BI Publisher to configure the reports and then use bursting to email the reports to theexecutives and Audit Committee

Use a report batch to run reports at a specific time to create a set of snapshot reports

Using Workspace, assemble multiple reports into a book that can be printed and viewed individually as an entire book

Create aSmartview report, where the various sheets represent the different Financial Statements and send them the spreadsheet

Use OTBI to create multiple reports that you save to a folder that only the users can access

QUESTION 59
You want to monitor the close process if all your financial subledgers and ledgers. How can you quickly obtain this information?

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

Access each subledgers’ calendar and General Ledgers’ Manage Accounting Periods page to view the status of each period

Run Closing Status Reports

Use Close Monitor in General Accounting Dashboard

QUESTION 60
Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, the customer wants to have three balancing segments. Which two recommendations would you give your customer? (Choose Two)

Define Leger balancing options to balance by second and third balancing segments.

When entering Journals manually, the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance is journal.

Additional intercompany rules will need to be defined for the two additional balancing segments.

Every Journal where debits do not equal across the three balancing segments will result in the system generating extra journal lines to balance the entry.

QUESTION 61
Your enterprise structure has one ledger and two businessunits. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions. Which two statements are correct? (Choose two.)

While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing

While defining control for business unit one, enable control at purchasing and definethe exceptions to only include requisitioning

Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit

While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving

Define budgetary control at ledger level and only encumbrance control at the business units

Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving

QUESTION 62
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India). a Which three labels are required when designing the chart of account structure for the Project.

Secondary Balancing

Primary Balancing

Intercompany Segment –

Natural Account _

Cost center

QUESTION 63
You create a prepayment for USD 100 and validate it to consume the budget and reduce available funds under the prepayment account. You then pay the prepayment of USD 100 create an invoice for USD 300, and validate the* invoice to consume the budget and reduce available funds for the expense-accounts used in the invoice. You then apply the prepayment fully on to the invoice and revalidate it. What happens to the available funds when you apply a prepayment that requires budgetary control?

The prepayment application releases funds of 300 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 100 USD.

The budget will be released only for the USD 300 invoice amount.

The prepayment application releases funds of 100 USD and the invoice consumes funds of 300 USD, with a net decrease to available funds of 200 USD.

The prepayment application releases funds of 200 USD and the invoice consumes funds of 100 USD, with a net decrease to available funds of 200 USD.

The prepayment application was already released at the time of payment and the invoice consumes funds of 300 USD.

Available funds will not change till invoice is approved.

QUESTION 64
When creating financial reports which two tools use data from the General Ledger Balances Cube? (Choose two).

Financial Reporting Studio

Smart View

Oracle Financial Statement Generator

Financial Reporting Center

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