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

"Oracle Financials Cloud: General Ledger 2023 Implementation Professional", also known as 1z0-1054-23 exam, is a Oracle Certification. With the complete collection of questions and answers, PrepPDF has assembled to take you through 52 Q&As to your 1z0-1054-23 Exam preparation. In the 1z0-1054-23 exam resources, you will cover every field and category in Oracle Financials Cloud Certification helping to ready you for your successful Oracle Certification.

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  • Exam Code: 1z0-1054-23
  • Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
  • Certification Provider: Oracle
  • Corresponding Certification: Oracle Financials Cloud
  • Updated: Oct 23, 2026
  • No. of Questions: 52 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionObjectives
Journal Processing- Journal Management
  • 1. Create and manage journal entries
  • 2. Manage recurring and automated journals
  • 3. Configure journal approval workflows
Ledger Configuration- Ledger Management
  • 1. Manage ledger options and balancing segments
  • 2. Set up reporting currencies
  • 3. Configure primary and secondary ledgers
Period Close and Financial Reporting- Close and Reporting Activities
  • 1. Perform period close processes
  • 2. Manage accounting periods
  • 3. Generate financial statements and reports
Enterprise Structure and General Ledger Setup- Enterprise Configuration
  • 1. Configure business units and legal entities
  • 2. Configure accounting calendars
  • 3. Define chart of accounts structures
Intercompany Accounting- Intercompany Processing
  • 1. Manage intercompany transactions
  • 2. Configure intercompany balancing rules
  • 3. Perform reconciliation activities
Budgeting and Allocations- Financial Planning
  • 1. Manage allocations
  • 2. Configure budgets
  • 3. Monitor budgetary control
Security and Data Access- Access Management
  • 1. Manage user roles and privileges
  • 2. Configure data access sets
  • 3. Implement security controls

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

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

  • A. Each product has its own Intercompany Accounting feature that needs to be configured separately.
  • B. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
  • C. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
  • D. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
Reveal Solution  Discussion  0

Correct Answer: A,B  🗳️

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There is a business requirement for a subsidiary company to report to the parent company on a monthly basis.
Given that:
The subsidiary is in another country from the parent.
There is no requirement to have daily balances.
The objective is to minimize the data stored in the reporting currency.
Which data conversion level should you recommend?

  • A. Journal Level
  • B. Spreadsheet level
  • C. Subledger level
  • D. Adjustment only level
  • E. Balances Level
Reveal Solution  Discussion  0

Correct Answer: E  🗳️

Explanation: Only visible for PrepPDF members. You can sign-up / login (it's free).

You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle's recommended practice when this occurs?

  • A. Rerun Translation and then reconsolidate your results.
  • B. Enter another adjusting journal entry in the target currency to true up the balances.
  • C. Rerun Revaluation and then rerun Translation.
  • D. Translate only the adjusting journal entry.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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You want your sales representatives to be able to find points of interest, such as customers, while out on business. What should you enable to achieve this?

  • A. Address Cleansing
  • B. Geocoding
  • C. Validation
  • D. HZ_GEO_IDENTIFIER_SUBTYPE Lookup
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.
To achieve this requirement, on which two objects should you enable "Limit a Journal to a Single Currency"?
(Choose two.)

  • A. Profile option
  • B. Journal category
  • C. Journal sources
  • D. Journal lookup codes
  • E. Ledger options
Reveal Solution  Discussion  0

Correct Answer: C,E  🗳️

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