Boost your career with the 1Z0-1054-22 Oracle Financials Cloud General Ledger 2022 Implementation Professional 2023 exam

1. C E R T S GR A DE High Grade and Valuable Preparation Stuff High Grade and Valuable Preparation Stuff Oracle 1Z0-1054-22 Oracle Financials Cloud: General Ledger 2022 Implementation Professional Questions And Answers PDF Format: For More Information – Visit link below: https://www.certsgrade.com/ Version = Version = Product Visit us athttps://www.certsgrade.com/pdf/1z0-1054-22/

2. Latest Version: 6.0 Question: 1 Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account Mark for Review 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? A. The original journal entry in Euros is updated. B. You have an unrealized exchange gain recorded. C. You have an unrealized exchange loss recorded. D. There is no unrealized exchange gain or loss calculated. E. The original journal entry in Euros remains the same. Answer: B,E Explanation: Based on the given information, the Accounts Payable Liability Account needs to be revalued using the month-end exchange rate of 1 Euro = 1.3755 USD. Here are the two statements that are true for the resulting revaluation run: B. You have an unrealized exchange gain recorded: Since the USD equivalent of the Accounts Payable Liability Account increased from $136,550 to $137,937.5 (100,000 Euros x 1.3755), there is an unrealized exchange gain of $1,387.5 ($137,937.5 - $136,550). C. You have an unrealized exchange loss recorded: This statement is incorrect as the exchange rate has moved in favor of the company, resulting in an exchange gain rather than a loss. Therefore, the correct statements are B and E. Question: 2 You want to achieve multi-step cascading allocations, which feature do you use? A. Rulesets B. Point of View (POV) C. General Ledger journal entries D. Formulas Answer: A Explanation: Visit us athttps://www.certsgrade.com/pdf/1z0-1054-22/

3. The feature that is used to achieve multi-step cascading allocations is A. Rulesets. Rulesets are used in Oracle Hyperion Planning to perform complex allocations that involve multiple steps. They allow for a series of allocation steps to be defined and executed in a specific order. Rulesets are created using Calculation Manager, and they can be used to allocate data across multiple dimensions in a Planning application. By using Rulesets, you can perform complex allocations that involve multiple dimensions, such as product, region, and time. Rulesets allow you to define the sequence of allocation steps and apply different methods, such as percentage-based or weighted allocations, to each step. This provides flexibility and control in performing complex allocations. Therefore, the correct answer is A. Rulesets. Question: 3 You are capturing rental costs for a building in a corporate cost center and at month end, want to allocate those costs to the cost centers in the building based on the floor area occupied A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation. Within the allocation component, where will you reference the statistical balance? A. Allocation Range B. Offset C. Basis D. Target E. Source Answer: C Explanation: To allocate rental costs to cost centers based on the floor area occupied, a statistical journal has been entered to record the floor area, and the allocation will be created using Calculation Manager. Here is where you will reference the statistical balance within the allocation component: C. Basis In an allocation, the basis determines the basis for the allocation. It defines the dimension that is used to allocate the amount from the source to the target. In this case, the basis for the allocation is the floor area, which is the statistical balance recorded in the journal. Therefore, when creating the allocation in Calculation Manager, you will reference the statistical balance in the basis section of the allocation component. Question: 4 Visit us athttps://www.certsgrade.com/pdf/1z0-1054-22/

4. You need to define a chart of accounts that includes an 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? A. Define the company segment and assign both the primary balancing segment and intercompany segment labels. B. Create two different value sets for the company and intercompany segments. C. Define the intercompany segment with a default value. D. Share the same value set for the company and intercompany segments. Answer: A Explanation: Oracle's recommended method to define a chart of accounts that includes an intercompany segment and uses segment value security rules for the Company segment is: A. Define the company segment and assign both the primary balancing segment and intercompany segment labels. This approach involves creating a chart of accounts with two segments, where the first segment is the primary balancing segment, and the second segment is the intercompany segment. The company segment is then assigned both the primary balancing segment and intercompany segment labels, which allows it to function as both a balancing segment and an intercompany segment. By doing so, the Company segment can be used as a balancing segment for accounting purposes while also being used as an intercompany segment for intercompany transactions. This approach simplifies the chart of accounts structure and enables efficient maintenance of the chart of accounts. Therefore, the correct answer is A. Define the company segment and assign both the primary balancing segment and intercompany segment labels. Question: 5 You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value. At what level should you define the default intercompany balancing rule? A. Chart of Accounts rule B. Primary balancing segment rule C. Legal entity level rule D. Ledger level rule Answer: D Visit us athttps://www.certsgrade.com/pdf/1z0-1054-22/

5. Explanation: When dealing with multiple ledgers that use the same chart of accounts and have one intercompany payable and one intercompany receivable account, and with the chart of accounts also having an intercompany segment, the recommended level to define the default intercompany balancing rule is: D. Ledger level rule The default intercompany balancing rule is used to define the intercompany transactions between the different ledgers. Since each ledger has its own legal entity and balancing segment value associated with it, the recommended level to define the default intercompany balancing rule is at the ledger level. By defining the default intercompany balancing rule at the ledger level, you can ensure that the intercompany transactions are properly recorded and reconciled between the different ledgers. This level also allows for flexibility in defining different intercompany balancing rules for each ledger, depending on their specific requirements. Therefore, the correct answer is D. Ledger level rule. Visit us athttps://www.certsgrade.com/pdf/1z0-1054-22/

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