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Oracle 1Z0-1054-21

1Z0-1054-21

Exam Code: 1Z0-1054-21

Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

Updated: Aug 16, 2026

Q & A: 136 Questions and Answers

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionWeightObjectives
Budgetary Control and Encumbrance Accounting10%- Configure budgetary control
- Set up encumbrance accounting
- Monitor budget balances and control
Enterprise and Financial Reporting Structures20%- Define financial reporting structures
- Manage segment value security
- Define enterprise structures
- Configure chart of accounts
Ledgers and Accounting Setup25%- Define data access sets
- Configure currencies, calendars, and accounting conventions
- Define ledgers and ledger sets
- Set up subledger accounting
Period Close and Financial Reporting15%- Use Financial Reporting Studio and Smart View
- Generate financial statements and reports
- Manage accounting periods
- Perform revaluation, translation, and consolidation
Journal Processing20%- Manage allocations and recurring journals
- Create and approve journal entries
- Perform journal adjustments and reversals
- Import and post journals
Intercompany and Intracompany Balancing10%- Process and reconcile intercompany entries
- Configure intercompany transactions
- Set up intracompany balancing rules

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

1. our Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three)

A) Smart View
B) OTBI
C) Sunburst Report
D) Account Monitor
E) Account Inspector


2. You need to distribute departmental expense reports to l00 department managers in your organization.
The report format is the same, but the department values differ. What in the most efficient way to achieve this?

A) Set the Department segment as a User Point of View (POV) and submit a report batch and schedule it:
to run for every department. Send the different batch outputs as PDF attachments via email to different users.
B) Create a single report for all departments. When department managers log in to Financial Reporting Center, they will only be able to view their department's data based on Segment Value Security Rules.
C) When defining the report, make the Department Segment a prompt and when users view the report, they can change the prompt to their department
D) Set up Bursting Options for your batch to prepare multiple versions of a report from a single process


3. When working with Essbase, versions of the tree hierarchy as defined in the fusion not available in the Essbase balances cube. What should you do to correct this situation?

A) Make sure to flatten the rows of the tree version
B) Make sure the tree version was published successfully
C) Redeploy the chart of accounts.
D) Make sure the tree is active.


4. Your customer wants to prevent their department managers from viewing the results of other departments where they have no management authority. What should be implemented for this type of security?

A) Segment Value Security
B) Cross-Validation Rules
C) Data Access Sets
D) Role-Based Access


5. You are creating financial Statements and want to have charts, such as a bar graph, automatically inserted to improve the understanding of the financial results. How would you achieve this? (Choose Two)

A) Use Smart View, which is and Excel Add-on
B) use Account Inspector that automatically creates graphs on financials balances
C) When viewing the report, download to Excel and use Excel's charting features to create your bar graph
D) when designing your financial statement using financial report (FR), embed a chart into your report.


Solutions:

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

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