A question without an explanation teaches half a lesson. Every one of the 136 practice questions at PracticeVCE comes with expert-verified answers for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials.
Oracle 1Z0-1054-21 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2021 Implementation Essentials |
| Exam Number: | 1Z0-1054-21 |
| Passing Score: | 60% |
| Available Languages: | English |
| Exam Price: | USD $245 |
| Related Certifications: | Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist |
| Real Exam Qty: | 55 |
| Exam Duration: | 90 minutes |
| Exam Format: | Multiple Choice |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Pearson VUE testing center or Oracle online proctored exam |
| Pre Condition: | No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training. |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-general-ledger-2021-certified-implementation-specialist/trackp_ERPGL2021 |
Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Period Close | - Manage Accounting Periods - Close Monitoring and Reporting - Perform Period Close Activities |
| Topic 2: Journal Processing | - Allocation Rules - Configure Journal Approval - Create and Manage Journals - Journal Import and Posting - Recurring Journals |
| Topic 3: Budgetary Control and Encumbrance Accounting | - Control Budgets - Funds Check Processing - Configure Budgetary Control - Encumbrance Accounting |
| Topic 4: Configuring Ledgers | - Configure Secondary Ledgers - Define Ledger Options - Manage Ledger Sets - Configure Reporting Currencies |
| Topic 5: Configuring Enterprise and Financial Reporting Structures | - Manage Legal Jurisdictions - Manage Chart of Accounts - Manage Legal Authorities and Legal Entities - Manage Ledgers - Manage Geographies - Manage Account Hierarchies - Manage Accounting Calendars |
| Topic 6: Intercompany Processing | - Process Intercompany Transactions - Configure Intercompany Balancing Rules - Intercompany Reconciliation |
| Topic 7: Financial Reporting | - Account Groups and Reports - Smart View Reporting - Financial Statement Generation - Financial Reporting Studio |
Answers for Oracle 1Z0-1054-21 Candidates
90 minutes, 55 questions — that's your time budget. Rehearse it: the PracticeVCE online engine runs simulation tests with automatic settings, so pacing becomes trained, not lucky.
Files arrive first: our system emails your purchase within a minute of successful payment — unlimited installations, and 24/7 support if nothing shows up within 2 hours (check spam). Failure is covered too: take the corresponding 1Z0-1054-21 exam within 60 days of purchase, and if you don't pass, submit a scanned enrollment slip plus the official Score Report PDF within 2 days of the exam for a full refund, processed within 7 days. Exclusions: exams within 3 days of purchase, candidate names that don't match the payer, and free or expired products. You can also choose a free replacement — two other products of equal value.
No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training. Eligibility rules change from time to time, so confirm the current requirements on the official page (official 1Z0-1054-21 exam page) before booking.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials blueprint spans 7 domains — including Financial Reporting, Budgetary Control and Encumbrance Accounting, Period Close. The weightings are your study map: allocate hours where the points are. Every subtopic appears in the outline above.
USD $245 per attempt, 60% to pass. Cost-effective preparation matters here: the 136 practice questions for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials cost a fraction of one retake.
Yes — download the free 1Z0-1054-21 demo before buying and assess the quality and reliability yourself; it's the best way to avoid wasting money on bootless material. Purchases include 365 days of free updates, renewable later at half price.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials is Oracle's certification exam for Oracle Financials Cloud, at the Professional level. Passing it demonstrates proficiency with specific technologies — a credential employers from small business to enterprise recognize. Related credentials include Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist.
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
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 advisory control and control budget monthly with absolute control.
- B. Create an annual budget with absolute control and so encumbrance accounting will work.
- C. Create two detail control budgets: annually with advisory/track control and monthly with absolute control.
- D. Create two detail control budgets: annually with absolute control and monthly with advisory or trackcontrol.
- E. Create a Summary budget annually with absolute* control and monthly control budget with advisory or track control.
Correct Answer: B 🗳️
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for
$300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?
- A. Both are reserved
- B. The purchase order is Liquidated and the invoice is Partially Reserved
- C. The purchase order is Open and the invoice is Validated
- D. The purchase order is Partially Liquidated and the invoice will be Reserved
- E. The purchase order is Partially Liquidated and the invoice is Partially Reserved
Correct Answer: D 🗳️
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What is most efficient way to add a new year to the accounting calendar?
- A. The Application automatically populates the year when you open the first period of a new fiscal year.
- B. Use the Add Year button
- C. Add the periods manually
- D. Import the periods from a spreadsheet
Correct Answer: B 🗳️
Journal Description Rules are assigned to Subledger Journal Entry Rule Sets. What are the other three subcomponents of a Subledger Journal Entry Rule Set? (Choose three.)
- A. Supporting References
- B. Journal Line Rules
- C. Chart of Accounts
- D. Account Rules
- E. Accounting Date
Correct Answer: A,B,D 🗳️
Which feature outside of reporting and analysis leverages the Essbase cube?
- A. Revaluations and translation of revalue and translate currencies stored in the Essbase cube
- B. period closing and opening of ledgers to keep General Ledger Cloud and the Essbase cubes in sync
- C. Calculation manager to perform allocations based on multidimensional balances and budgets
- D. Journal entries and journal approval to create journals that update balances to the cube directly.
Correct Answer: A 🗳️
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