Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional : 1Z0-1054-26

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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions:

1. A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

A) Primary ledger with the local accounting convention
B) Primary ledger with the IFRS accounting convention
C) Reporting currency with the local accounting convention
D) Secondary ledger with the IFRS accounting convention
E) Reporting currency with the IFRS accounting convention

2. You are setting upClose Monitor, which comprises aledger set hierarchy definition.
Which two components of theenterprise structureshould the ledgers in the ledger set share?

A) Legal Entities, Business Units, and Chart of Accounts
B) Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
C) Accounting Calendar
D) Chart of Accounts
E) Chart of Accounts and Business Units

3. You are processing intercompany transactions in a country where accounting regulations require backing documents for each intercompany transfer. You decide to use the Intercompany module to ensure you can produce the relevant Accounts Payable and Accounts Receivable invoices.
How would you enable invoicing?

A) Select the invoicing option for the relevant Intercompany Organizations.
B) Select the invoicing option in Intercompany System Options.
C) Select the invoicing option when assigning the Receivables business unit.
D) Select the invoicing option for the relevant Intercompany Transaction Type.

4. 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.
. Accept the defaults for the instance segments.

5. You are planning to use Financial Reporting Web Studio to create your income statement and balance sheet reports.
Which report component allows you to connect with GL Balances Cube?

A) Grid
B) Design Canvas
C) Point of View
D) Object Browser

Solutions: