If your schedule is already packed, preparing for the 1z0-1054-24 exam can feel like one commitment too many. TestSimulate keeps things manageable with 87 focused practice questions for Oracle Financials Cloud: General Ledger 2024 Implementation Professional, so every study session in 2026 actually counts.

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Everything Candidates Ask About Oracle Financials Cloud: General Ledger 2024 Implementation Professional

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions:

Question 1

You are setting upClose Monitor, which comprises aledger set hierarchy definition.
Which two components of theenterprise structureshould the ledgers in the ledger set share?

A. Legal Entities, Business Units, and Chart of Accounts
B. Accounting Calendar
C. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
D. Chart of Accounts and Business Units
E. Chart of Accounts

Question 2

A company implementing Oracle General Ledger has a business requirement to report under two accounting conventions and is considering setting up a primary and secondary ledger. The two accounting standards are very close.
Which data conversion level should you recommend to ensure only manual journals will be entered in the secondary ledger?

A. Subledger level
B. FBDI level
C. Balance level
D. Adjustment only level
E. Journal level

Question 3

When will Intercompany processing balance a journal using the accounts identified here for the UK Ledger?

A. when the journal is balanced by the primary BSV but not by second or third BSV
B. when the journal is balanced by second balancing segment value
C. when there is a many-to-many journal and you want to use a clearing company
D. when the journal is not balanced by the primary balancing segment value (BSV)

Question 4

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

Question 5

You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?

A. by creating Cross-Validation Rules desktop-integrated spreadsheet.
B. by using the Manage General Ledger Security page.
C. by using Cross-Validation Rules Import file-based data import (FBDI).
D. by using the Manage Cross-Validation Rules page.

Solutions: