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Oracle 1Z0-1054-26 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Financial Reporting | - Real-time reporting and analytics - Financial Statement Generator (FSG) and reporting tools |
| General Ledger Configuration | - Accounting calendar and currency setup - Ledger setup and accounting configuration - Chart of Accounts structure and segments |
| Period Close and Reconciliation | - Account reconciliation and balancing - Period close process in General Ledger |
| Journal Processing | - Journal creation and approval workflows - Journal import and automation - Recurring journals and allocations |
| Security and Controls | - Role-based access control in General Ledger - Audit and compliance controls |
Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions:
You have configured Transaction Account Definition rules to automatically populate the Provider and Receiver distributions for your intercompany transactions. However, while testing, you find there are no distributions created.
What is the reason for this?
- A. Transaction Account Definition is not assigned to the transaction type.
- B. Transaction Account Definition is not assigned to the Intercompany Organization.
- C. Transaction Account Definition is not selected in System Options.
- D. Transaction Account Definition is not assigned to the ledger.
Correct Answer: D 🗳️
Explanation: Only visible for PracticeVCE members. You can sign-up / login (it's free).
TheDelete Translated Balancesprocess provides the ability to completely reset translations in the event thatsignificant changesare made to the accounting configuration.
Once the deletion process completes, what additional process must you run?
- A. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- B. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- C. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.
- D. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.
Correct Answer: A 🗳️
You are planning to create an Income Statement using Smart View.
Which Smart View tool should you use for this?
- A. Ad Hoc Analysis
- B. Query Designer
- C. Smart Queries
- D. Smart Slices
Correct Answer: A 🗳️
Explanation: Only visible for PracticeVCE members. You can sign-up / login (it's free).
Your Oracle Fusion Cloud client needs to store balances such as floor space, number of employees, quantities purchased for use in journal allocations, and financial reporting.
Currently, in their test environment, they are unable to record statistical amounts.
What is the reason?
- A. The currency STAT does not have the statistical unit type enabled.
- B. The currency STAT does not have the ISO currency flag enabled.
- C. The ledger currency does not have the derivation flag enabled.
Correct Answer: A 🗳️
Task 3
Manage Chart of Accounts Mappings
Scenario
Your client needs to consolidate their UK Ledger to the Canadian parent ledger. Each Chart of Accounts has the following segments:
Company-LoB-Account-Cost Center-Product-Intercompany
Know that the Company, LoB, Product, and Intercompany segments share the same value sets.
Create a Chart of Accounts mappings to map UK Chart of Accounts to CA Chart of Accounts that meets the following specifications:
Cost Center Mapping
. Balance Sheet (0 and 000) should be mapped to
Balance Sheet
. All other cost centers should be mapped to 610
Account Mapping
. Asset accounts (in the 1000 range) should be
mapped to account 11101
. Liability accounts (in the 2000 range) should be
mapped to account 22100
. Equity accounts (in the 3000 range) should be
mapped to account 34000
. Revenue accounts (in the 4000 range) should be
mapped to account 42000
. Expense accounts (from 5000 onwards) should be
mapped to account 51100
Note:
Do not use conditions based on parents.
. Treat any account after the 5000 range as an expense.
Ensure all maps are numeric only.
When creating your mapping rules for each segment
please allow for existing and future segment values
Correct Answer:
See the Explanation for the complete Solution.
Explanation:
Here are the steps you need to follow:
In the Setup and Maintenance work area, go to the following:
Offering: Financials
Functional Area: Financial Reporting Structures
Task: Manage Chart of Accounts Mapping
Select the source chart of accounts (UK) and the target chart of accounts (CA) that you want to map.
Click on the Segment Rules tab to define the segment mapping rules. Enter the following information for each segment:
Segment Number: 1
Segment Name: Company
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 2
Segment Name: LoB
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 3
Segment Name: Account
Mapping Type: Range
Source From Value: 1000
Source To Value: 1999
Target Value: 11101
Mapping Type: Range
Source From Value: 2000
Source To Value: 2999
Target Value: 22100
Mapping Type: Range
Source From Value: 3000
Source To Value: 3999
Target Value: 34000
Mapping Type: Range
Source From Value: 4000
Source To Value: 4999
Target Value: 42000
Mapping Type: Range
Source From Value: 5000
Source To Value: 99999999
Target Value: 51100
Segment Number: 4
Segment Name: Cost Center
Mapping Type: Value
Source Value: 0
Target Value: Balance Sheet
Mapping Type: Value
Source Value: 000
Target Value: Balance Sheet
Mapping Type: Value
Source Value: *
Target Value: 610
Segment Number: 5
Segment Name: Product
Mapping Type: Value
Source Value: *
Target Value: *
Segment Number: 6
Segment Name: Intercompany
Mapping Type: Value
Source Value: *
Target Value: *
Click on the Save and Close button to save the segment mapping rules.
You have successfully created a Chart of Accounts mapping for the given scenario. For more information, you can refer to the following resources:
Overview of the Chart of Accounts Mapping Page
Chart of Accounts Structures and Instances
How To Create A Chart Of Accounts Mapping For A Secondary Ledger
How To Bulk Upload The Mapping Rules In "Manage Chart of Accounts Mapping" Centralized Management of Chart of Accounts Configurations
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