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Oracle 1Z0-1054-26 Exam Syllabus Topics:

SectionObjectives
Topic 1: General Ledger Configuration- Accounting calendar and currency setup
- Chart of Accounts structure and segments
- Ledger setup and accounting configuration
Topic 2: Period Close and Reconciliation- Account reconciliation and balancing
- Period close process in General Ledger
Topic 3: Financial Reporting- Financial Statement Generator (FSG) and reporting tools
- Real-time reporting and analytics
Topic 4: Journal Processing- Journal import and automation
- Journal creation and approval workflows
- Recurring journals and allocations
Topic 5: Security and Controls- Audit and compliance controls
- Role-based access control in General Ledger

Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions:

You have a requirement to override the Period End or Period Average rate that is used for translating several accounts at month end. How can you achieve this?

  • A. Use the Manage Revaluations task to create a revaluation definition for those accounts.
  • B. Use the Translate Balances process parameters to specify the rate or amount for those accounts.
  • C. Use the Manage Historical Rates task to assign a historical rate or amount to those accounts.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

You are implementingFinancials Cloudand are usingspreadsheetsto loadLegal Entities, Business Units, and Account Hierarchies.
Which threesetup objectscan be loaded via aspreadsheetfromFunctional Setup Manager?

  • A. Setup data for Receivables and Payables product.
  • B. Complete Accounting Configuration
  • C. Suppliers and Customers
  • D. Chart of account values, accounting calendar, and ledger
  • E. Banks, Bank Accounts, and Branches
Reveal Solution  Discussion  0

Correct Answer: C,D,E  🗳️

Budgetary control for accounts 5020 and 5021 has a budget of $90,000 USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each.
A Fund of $50,000 USD is available for account 5020 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?

  • A. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
  • B. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
  • C. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
  • D. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD only will be carried forward.
  • E. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
Reveal Solution  Discussion  0

Correct Answer: E  🗳️

Your UK operation has a requirement to maintain its ledger balances in USD to facilitate reporting to the parent company. A balance-level reporting currency has been created and linked to the primary ledger.
How are balances transferred to the reporting currency?

  • A. By running the Translate General Ledger Account Balances process
  • B. By running the Revalue Balances process at month end
  • C. By running the Journal Import process
  • D. By running the final Create Accounting process at month end
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)

  • A. Hierarchies for reporting and allocations have to be published to Essbase cubes.
  • B. Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
  • C. Child values in these hierarchies can belong to only one parent.
  • D. You can have only one version of a hierarchy published to the Essbase cube at any time.
Reveal Solution  Discussion  0

Correct Answer: C,D  🗳️

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