Oracle 1z0-1054-24 Actual Free Exam Questions & Community Discussion
Which delivered role can access the full functionality of Functional Setup Manager?
Correct Answer: A
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Which two are valid Data Access Set types? (Choose two.)
Correct Answer: A,B
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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
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
Correct Answer:
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: *
* 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
* 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
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: *
* 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
* 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
In which two ways can your users personalize the Springboards and Work Areas to suit their individual working styles? (Choose two.)
Correct Answer: A,B
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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.
Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.
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.
Note:
. Prefix your alias name with 07, where 07 is
your exam ID.
. There is no Product or Intercompany
impact.
Correct Answer:
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:
* 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
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:
* 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
What are two uses of the Column Flattening and Row Flattening features? (Choose two.)
Correct Answer: A,E
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Which two statements are true about infotiles and infolets?
Correct Answer: B,C
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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?
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?
Correct Answer: A
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An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?
Correct Answer: A
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