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

1z0-1054-23 actual test
  • Exam Code: 1z0-1054-23
  • Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
  • Updated: Sep 09, 2026
  • Q & A: 52 Questions and Answers
  • PDF Demo
  • PC Test Engine
  • Online Test Engine
  • Total Price: $59.99  

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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionObjectives
Topic 1: Intercompany Accounting- Intercompany Processing
  • 1. Configure intercompany balancing rules
  • 2. Perform reconciliation activities
  • 3. Manage intercompany transactions
Topic 2: Security and Data Access- Access Management
  • 1. Implement security controls
  • 2. Configure data access sets
  • 3. Manage user roles and privileges
Topic 3: 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
Topic 4: Ledger Configuration- Ledger Management
  • 1. Manage ledger options and balancing segments
  • 2. Configure primary and secondary ledgers
  • 3. Set up reporting currencies
Topic 5: Budgeting and Allocations- Financial Planning
  • 1. Monitor budgetary control
  • 2. Configure budgets
  • 3. Manage allocations
Topic 6: Journal Processing- Journal Management
  • 1. Create and manage journal entries
  • 2. Manage recurring and automated journals
  • 3. Configure journal approval workflows
Topic 7: Period Close and Financial Reporting- Close and Reporting Activities
  • 1. Perform period close processes
  • 2. Manage accounting periods
  • 3. Generate financial statements and reports

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

Question #1

Which two are valid Data Access Set types? (Choose two.)

  • A. Read Only access
  • B. Full Ledger
  • C. Read and Write access
  • D. Primary Balancing Segment Value
  • E. Full access
Answer: A,E

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Question #2

You are using Oracle General Ledger (GL), Oracle Payables, and Oracle Receivables and you want to prevent the closure of the GL period if the corresponding subledger period is not closed. How do you achieve this?

  • A. Set the ORA_GLJNCLD_STRICT_PRD_CLOSE profile option to yes.
  • B. Opt in to the Prevent Period Close option for the offering.
  • C. Set the relevant option on the Specify Ledger Options page.
  • D. You don't have to do anything; this option is enabled automatically.
Answer: C

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Question #3

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

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Question #4

Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)

  • A. You have an unrealized exchange loss recorded.
  • B. The original journal entry in Euros is updated.
  • C. There is no unrealized exchange gain or loss calculated.
  • D. The original journal entry in Euros remains the same.
  • E. You have an unrealized exchange gain recorded.
Answer: A,E

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Question #5

A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

  • A. Secondary ledger with the IFRS accounting convention
  • B. Reporting currency with the IFRS accounting convention
  • C. Primary ledger with the IFRS accounting convention
  • D. Primary ledger with the local accounting convention
  • E. Reporting currency with the local accounting convention
Answer: A,D

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