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

 Here are the steps you need to follow:

• In the Setup and Maintenance work area, go to the following:
• 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:
• 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

Here are the steps you need to follow:

• Navigate to the Setup and Maintenance work area and search for the task Manage Chart of Accounts Structures.
• Click on the Create icon to create a new Chart of Accounts Structure. Enter the following information:
• Click on the Next button to define the segments. Enter the following information for each segment:
• Click on the Next button to review the summary and click on the Save and Close button to save the Chart of Accounts Structure.
• Navigate to the Setup and Maintenance work area and search for the task Manage Chart of Accounts Structure Instances.
• Click on the Create icon to create a new Chart of Accounts Structure Instance. Enter the following information:
• Click on the Next button to review the summary and click on the Save and Close button to save the Chart of Accounts Structure Instance.

You have successfully created a Chart of Accounts Structure and Instance for the given scenario. For more information, you can refer to the following resources:

• Chart of Accounts Structures and Instances
• Chart of Accounts Components
• Minimum Steps For Financial Enterprise Structures Configuration
• Overview of Creating and Configuring Chart of Accounts Structure and Instances

Here are the steps you need to follow:

• In the Setup and Maintenance work area, go to the following:
• Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
• Click on the Add Row icon to create a new alias. Enter the following information:
• Click on the Save and Close button to save the alias.

You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:

• Account Aliases
• Enter a GL Account Alias
• Short Hand Alias in Fusion Financials Key Flexfield
• How to Enable Account Shorthand Aliases

To view high-level profit and loss results for each ledger in the Close Monitor, you need to associate a Financial Reporting Web Studio report with the ledger set. This report should be based on the General Ledger Balances cube and should include the Income Statement account group as a row dimension. The report should also have the ledger set as a point of view dimension and the period and currency as user prompts. This way, you can select the ledger set, period, and currency when you run the report from the Close Monitor and see the aggregated income statement results for each ledger and consolidation node in the ledger set hierarchy. References: Overview of Close Monitor, Using General Ledger, Close Monitor Issue

You can prevent the closure of a General Ledger accounting period if the accounting period for any of the corresponding subledgers is still open, or if incomplete accounting entries or transactions exist for the period. This can help ensure an effective period close process that validates all transactions are complete and aren’t held up during the close. To enable this feature, you need to set the relevant option on the Specify Ledger Options page for each primary ledger. The option is called Prevent General Ledger Period Closure When Open Subledger Periods Exist and it is located in the Period Close section. You can also specify which subledgers to include or exclude from the validation, except for Assets, which is automatically excluded by default. References:

• How to Prevent a General Ledger Period from Closing When Open Subledger Periods Exist
• Period Close Components
• Review: Prevent General Ledger Period Closure When Open Subledger Periods Exist

Data access sets are collections of ledgers that define the data security for users who access General Ledger. Users can only access the ledgers that are assigned to them through data access sets. To allow users with the General Accountant job role to access the UK Ledger, you need to create a data access set that includes the UK Ledger and assign it to the user/role combination. You also need to specify the access privilege for the data access set, which can be Full Ledger, Both Read and Write, or Read Only. In this case, you need to select Both Read and Write to allow read/write access to the full ledger. References:

• Implement General Ledger
• GL_ACCESS_SET_LEDGERS
• The Default Data Access Set
• Overview of General Ledger Security

According to Oracle documentation3, when you need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in, you should choose Fiscal Year as the format. A Fiscal Year format enables you to define periods based on fiscal years that span two calendar years. Therefore, option A is correct. Option B is incorrect because a Calendar Year format defines periods based on calendar years that start on January 1st and end on December 31st. Option C is incorrect because a Period format defines periods based on any number of days or weeks. Option D is incorrect because a Year format defines periods based on calendar years that start on any month other than January and end on any month other than December.

According to Oracle documentation, two reasons why a Financial Reporting Web Studio report may not appear as a choice in Financial Reporting Center are: You have not saved it in the Shared Folder/Custom/Financials directory, and you have not uploaded it to Financial Reporting Center. Financial Reporting Web Studio enables you to design and generate reports with grids, charts, images, and text boxes using data from various sources. Financial Reporting Center enables you to access and run all types of reports from a single user interface. To make a Financial Reporting Web Studio report available in Financial Reporting Center, you must save it in the Shared Folder/Custom/Financials directory and upload it to Financial Reporting Center using Workspace. Therefore, options A and C are correct. Option B is incorrect because saving it in the MyFolders directory does not make it available in Financial Reporting Center. Option D is incorrect because downloading it to your local drive does not make it available in Financial Reporting Center.