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Oracle 1Z0-1054-21 exam : Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

1Z0-1054-21 Exam Questions
  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
  • Updated: Jul 24, 2026
  • Q & A: 136 Questions and Answers
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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Budgetary Control and Encumbrance Accounting- Control Budgets
- Configure Budgetary Control
- Encumbrance Accounting
- Funds Check Processing
Journal Processing- Recurring Journals
- Journal Import and Posting
- Create and Manage Journals
- Allocation Rules
- Configure Journal Approval
Financial Reporting- Smart View Reporting
- Financial Statement Generation
- Financial Reporting Studio
- Account Groups and Reports
Configuring Enterprise and Financial Reporting Structures- Manage Chart of Accounts
- Manage Ledgers
- Manage Accounting Calendars
- Manage Legal Authorities and Legal Entities
- Manage Account Hierarchies
- Manage Geographies
- Manage Legal Jurisdictions
Intercompany Processing- Configure Intercompany Balancing Rules
- Process Intercompany Transactions
- Intercompany Reconciliation
Configuring Ledgers- Configure Reporting Currencies
- Define Ledger Options
- Manage Ledger Sets
- Configure Secondary Ledgers
Period Close- Close Monitoring and Reporting
- Manage Accounting Periods
- Perform Period Close Activities

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. Identify three functions of Functional Setup Manager.

A) Automatically mark the status of tasks as Completed after they have been completed.
B) Assign setup tasks to individuals with due dates where users must manually update their completion status.
C) Provide a central place to access and perform all of the setup steps across Cloud application products.
D) Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted.
E) Centrally manage the close processes across subledgers and ledgers.


2. Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requireme

A) Create a Summary budget annually with absolute* control and monthly control budget with advisory or track control.
B) Create two detail control budgets: annually with absolute control and monthly with advisory or trackcontrol.
C) Create an annual budget with absolute control and so encumbrance accounting will work.
D) Create a summary budget annually with advisory control and control budget monthly with absolute control.
E) Create two detail control budgets: annually with advisory/track control and monthly with absolute control.


3. Management wants to use the budget transfer function available on the Review Budgetary control Which privilege is required to perform the budget transfer?

A) Import Budget Amounts (XCC_IMPORT_BUDGET_AMOUNTS_PRIV)
B) Manage Control Budgets (XCC_HANAGI_CONIROL_BUDGrs.PRIV)
C) Import Budget Amount from Spreadsheet (XCC_IMPORT_BUDET_FROM_SPREADSHEET_PRIV)
D) Budget Loading (XCC_BUDGET_LOADING_DUiPRIV)


4. The Accounting Manager requests that a schedule be created to automate.ca.ly post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

A) Journal Batch
B) Journal Category
C) Journal Source
D) Journal Description


5. You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

A) Open a Smart View file saved on your desktop
B) Perform an account analysis online
C) Use Account Inspector
D) Create an Account Group using Account Monitor


Solutions:

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

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