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Oracle - 1z0-1054-26 Pass Guaranteed 1 of 14 Only Solution2Pass for Any Exam Category Breakdown Category Number of Questions Leveraging AI/ML/Mobile and Automation Features 3 Implementing Enterprise and Financial Reporting Structures 5 TOTAL 8 Exam Topic Breakdown Exam Topic Number of Questions Topic 1 : Multiple Choice Questions 5 Topic 2 : Hands-on Performance Based 3 TOTAL 8 Oracle - 1z0-1054-26 Pass Guaranteed 2 of 14 Only Solution2Pass for Any Exam A. B. C. D. E. Topic 1, Multiple Choice Questions Question #:91 - - [Leveraging AI/ML/Mobile and Automation Features] (Exam Topic 1) There is a business requirement for a subsidiary company to report to the parent company on a monthly basis. Given that: The subsidiary is in another country from the parent. There is no requirement to have daily balances. The objective is to minimize the data stored in the reporting currency. Which data conversion level should you recommend? Subledger level Journal Level Adjustment only level Balances Level Spreadsheet level Answer: D Explanation According to Oracle documentation, when there is a business requirement for a subsidiary company to report to the parent company on a monthly basis with different currencies and no requirement to have daily balances, you should recommend Balance level as the data conversion level. A Balance level data conversion level enables you to translate balances from one currency to another at month-end or quarter-end for reporting purposes. A Balance level data conversion level minimizes the data stored in the reporting currency because it does not store daily balances or journal details. Therefore, option D is correct. Option A is incorrect because a Subledger level data conversion level stores daily balances and journal details in the reporting currency. Option B is incorrect because a Journal Level data conversion level stores journal details in the reporting currency. Option C is incorrect because an Adjustment only level data conversion level does not translate balances from one currency to another. Option E is incorrect because a Spreadsheet level data conversion level does not exist. Question #:97 - - [Leveraging AI/ML/Mobile and Automation Features] (Exam Topic 1) Your company wants to change theCumulative Translation Adjustment (CTA) accountto record gains/losses from varying currency rates. Oracle - 1z0-1054-26 Pass Guaranteed 3 of 14 Only Solution2Pass for Any Exam A. B. C. D. A. B. C. D. What steps must you perform to achieve this objective without causing data corruption? Purge all translated balances, change the CTA account in the Ledger page, and rerun Translation for all periods required. Define a new ledger and accounting configuration. The CTA account cannot be updated after the ledger has been in use. Query the Translation journals and delete all of them, then change the CTA account in the Ledger page, and rerun Translation for all periods required. Open the Ledgers page and update the CTA account and then rerun Translation for all periods required. The system will automatically update the translated balances. Answer: A Question #:47 - - [Leveraging AI/ML/Mobile and Automation Features] (Exam Topic 1) Budgetary control for accounts5020and5021has a budget of$90,000 USDeach for the year2012. The accounts also have balances onobligation of $10,000 USDfor each and anexpenditure of $20,000 USDfor each. AFund of $50,000 USDis available for account5020only. You have run theEncumbrance Year End Carry Forward processfor obligation from the last period of the year2012to the first period of year2013. Which statement is true? 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. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances. 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. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward. Answer: A Question #:13 - - [Implementing Enterprise and Financial Reporting Structures] (Exam Topic 1) You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation. Oracle - 1z0-1054-26 Pass Guaranteed 4 of 14 Only Solution2Pass for Any Exam A. B. C. D. E. A. B. C. D. Where do you reference the statistical balance within the allocation component? Source Allocation Range Target Offset Basis Answer: A Explanation The source is where you specify the amount to be allocated. You can use various sources, such as account balances, fixed amounts, or statistical balances. In this case, you want to use the statistical balance of the floor area as the source of the allocation. The basis is where you specify the driver or factor that determines how the source amount is distributed among the targets. The target is where you specify the destination accounts that receive the allocated amount. The offset is where you specify the account that records the opposite side of the allocation entry. The allocation range is where you specify the scope of the allocation, such as the ledger, balancing segment, or legal entity. References: Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 3: Allocations and Periodic Entries, Allocation Components Oracle Financials Cloud Using General Ledger, Chapter 3: Allocations and Periodic Entries, Overview Question #:24 - - [Implementing Enterprise and Financial Reporting Structures] (Exam Topic 1) You are creating values for thechart of account value setthat you are planning to use for theaccount segmentwithin yourChart of Accounts. You are not able to assign anAccount Type. What is the reason for this? The Account Type qualifier has not been enabled when defining the value set. You have not set the Allow Budgeting attribute for the value set. You are creating values before assigning the value set to the structure. You have not set the Allow Posting attribute for the value set. Answer: A Oracle - 1z0-1054-26 Pass Guaranteed 5 of 14 Only Solution2Pass for Any Exam Topic 2, Hands-on Performance Based Question #:8 - - [Implementing Enterprise and Financial Reporting Structures] (Exam Topic 2) 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 Oracle - 1z0-1054-26 Pass Guaranteed 6 of 14 Only Solution2Pass for Any Exam 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 See the Explanation for the complete Solution. Explanation Here are the steps you need to follow: In the Setup and Maintenance work area, go to the following: Offering: Financials Functional Area: Financial Reporting Structures Task: Manage Chart of Accounts Mapping 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: Segment Number: 1 Segment Name: Company Mapping Type: Value Source Value: * Target Value: * Segment Number: 2 Segment Name: LoB Mapping Type: Value Source Value: * Oracle - 1z0-1054-26 Pass Guaranteed 7 of 14 Only Solution2Pass for Any Exam Target Value: * Segment Number: 3 Segment Name: Account Mapping Type: Range Source From Value: 1000 Source To Value: 1999 Target Value: 11101 Mapping Type: Range Source From Value: 2000 Source To Value: 2999 Target Value: 22100 Mapping Type: Range Source From Value: 3000 Source To Value: 3999 Target Value: 34000 Mapping Type: Range Source From Value: 4000 Source To Value: 4999 Target Value: 42000 Mapping Type: Range Source From Value: 5000 Source To Value: 99999999 Target Value: 51100 Segment Number: 4 Segment Name: Cost Center Mapping Type: Value Oracle - 1z0-1054-26 Pass Guaranteed 8 of 14 Only Solution2Pass for Any Exam Source Value: 0 Target Value: Balance Sheet Mapping Type: Value Source Value: 000 Target Value: Balance Sheet Mapping Type: Value Source Value: * Target Value: 610 Segment Number: 5 Segment Name: Product Mapping Type: Value Source Value: * Target Value: * Segment Number: 6 Segment Name: Intercompany Mapping Type: Value Source Value: * Target Value: * 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 Oracle - 1z0-1054-26 Pass Guaranteed 9 of 14 Only Solution2Pass for Any Exam Question #:7 - - [Implementing Enterprise and Financial Reporting Structures] (Exam Topic 2) Manage Chart of Accounts Structure and Instance Scenario Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5-segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts. Task 1 Create a Chart of Accounts Structure and Instance for the following Chart of Accounts: Note: · Prefix all your setups with 07, where 07 is your candidate ID · There is one balancing segment. · Choose the appropriate segment labels. . For the purpose of this test there is no need to deploy the flexfield. . Valid code combinations should be added to the Code Combination table automatically. · Shorthand aliases will not be implemented. Oracle - 1z0-1054-26 Pass Guaranteed 10 of 14 Only Solution2Pass for Any Exam . Accept the defaults for the instance segments. See the Explanation for the complete Solution. Explanation 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: Structure Code: 07COA Structure Name: 07 Chart of Accounts Description: Chart of Accounts for candidate 07 Number of Segments: 5 Click on the Next button to define the segments. Enter the following information for each segment: Segment Number: 1 Segment Name: Company Value Set Code: 07Corporate Company Value Set Name: 07 Corporate Company Maximum Size: 3 Balancing: Yes Segment Label: Company Segment Number: 2 Segment Name: Cost Center Value Set Code: 07Corporate Cost Center Value Set Name: 07 Corporate Cost Center Maximum Size: 4 Balancing: No Segment Label: Cost Center Oracle - 1z0-1054-26 Pass Guaranteed 11 of 14 Only Solution2Pass for Any Exam Segment Number: 3 Segment Name: Account Value Set Code: 07Corporate Account Value Set Name: 07 Corporate Account Maximum Size: 8 Balancing: No Segment Label: Natural Account Segment Number: 4 Segment Name: Product Value Set Code: 07Corporate Product Value Set Name: 07 Corporate Product Maximum Size: 3 Balancing: No Segment Label: Product Segment Number: 5 Segment Name: Intercompany Value Set Code: 07Corporate Company Value Set Name: 07 Corporate Company Maximum Size: 3 Balancing: No Segment Label: Intercompany 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: Oracle - 1z0-1054-26 Pass Guaranteed 12 of 14 Only Solution2Pass for Any Exam Structure Code: 07COA Structure Name: 07 Chart of Accounts Description: Chart of Accounts for candidate 07 Chart of Accounts Structure: 07COA Enabled: Yes Allow Dynamic Inserts: Yes 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 Question #:6 - - [Implementing Enterprise and Financial Reporting Structures] (Exam Topic 2) Challenge 2 Manage Shorthand Aliases Scenario Your client intends to utilize the Shorthand Alias feature and would like to see how the aliases will appear when entering transactions. Task 2 Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center. Oracle - 1z0-1054-26 Pass Guaranteed 13 of 14 Only Solution2Pass for Any Exam Note: . Prefix your alias name with 07, where 07 is your exam ID. . There is no Product or Intercompany impact. See the Explanation for the complete Solution. Explanation Here are the steps you need to follow: In the Setup and Maintenance work area, go to the following: Offering: Financials Functional Area: Financial Reporting Structures Task: Manage Shorthand Aliases 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: Oracle - 1z0-1054-26 Pass Guaranteed 14 of 14 Only Solution2Pass for Any Exam Alias Name: RevDom Account Template: 101-2000-400000-000-000-000 Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center Enabled: Yes Start Date: Today’s date End Date: Blank 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 About solution2pass.com solution2pass.com was founded in 2007. We provide latest & high quality IT / Business Certification Training Exam Questions, Study Guides, Practice Tests. We help you pass any IT / Business Certification Exams with 100% Pass Guaranteed or Full Refund. Especially Cisco, CompTIA, Citrix, EMC, HP, Oracle, VMware, Juniper, Check Point, LPI, Nortel, EXIN and so on. View list of all certification exams: All vendors We prepare state-of-the art practice tests for certification exams. You can reach us at any of the email addresses listed below. Sales: sales@solution2pass.com Feedback: feedback@solution2pass.com Support: support@solution2pass.com Any problems about IT certification or our products, You can write us back and we will get back to you within 24 hours.