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

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Exam Code: 1z0-1054-23

Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional

Updated: Aug 16, 2026

Q & A: 52 Questions and Answers

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Oracle 1z0-1054-23 Exam Syllabus Topics:

SectionWeightObjectives
Intercompany Accounting15%- Configure Intercompany
  • 1. Set up intercompany balancing rules
    • 2. Process intercompany transactions and reconciliation
      • 3. Enable intercompany invoicing
        Journal Processing and Approval20%- Manage Journals
        • 1. Create, import, and post journals
          • 2. Configure journal approval rules
            • 3. Define allocation and recurring journals
              Enterprise and Financial Reporting Structures20%- Configure Enterprise Structures
              • 1. Set up chart of accounts structure and instances
                • 2. Configure segment labels and value sets
                  • 3. Define legal entities and business units
                    - Configure Financial Reporting Structures
                    • 1. Define reporting views and dimensions
                      • 2. Create accounting hierarchies
                        Period Close and Financial Reporting20%- Perform Period Close
                        • 1. Execute period close processes
                          • 2. Reconcile balances
                            • 3. Manage accounting periods
                              - Financial Reporting
                              • 1. Use Smart View for analysis
                                • 2. Analyze budgets versus actuals
                                  • 3. Create and run financial reports
                                    Ledgers and Accounting Setup25%- Budgetary Control and Encumbrance
                                    • 1. Define encumbrance accounting rules
                                      • 2. Enable budgetary control
                                        - Configure Ledgers
                                        • 1. Define primary and secondary ledgers
                                          • 2. Configure ledger options and subledger accounting rules
                                            • 3. Set up calendars, currencies, and accounting conventions

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

                                              1. In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)

                                              A) They can format certain tables by hiding and showing columns, moving columns, and resizing columns
                                              B) They can use "+" under the Apps section of the News Feed homepage
                                              C) Users have very little control configuring their Springboards and Work Areas; they can only resize columns
                                              D) They can have the System Administrator configuring pages for them using Page Composer


                                              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) Journal level
                                              C) Adjustment only level
                                              D) Balance level
                                              E) FBDI level


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

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


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

                                              A) Full access
                                              B) Read Only access
                                              C) Read and Write access
                                              D) Full Ledger
                                              E) Primary Balancing Segment Value


                                              5. You are setting up Close Monitor and want to view high-level profit and loss results for each ledger.
                                              What should you associate with the ledger set to achieve this?

                                              A) OTBI report
                                              B) Financial Reporting Web Studio report
                                              C) Account group
                                              D) Trial Balance report


                                              Solutions:

                                              Question # 1
                                              Answer: A,B
                                              Question # 2
                                              Answer: C
                                              Question # 3
                                              Answer: A,C
                                              Question # 4
                                              Answer: A,B
                                              Question # 5
                                              Answer: B

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