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1z0-1054-20 – Oracle Financials Cloud: General Ledger 2020 Implementation Essentials

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Showing 1–3 of 10 questions

Question 1

Which three objectives must be considered when designing the chart of accounts? (Choose three.)

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    Anticipate growth and maintenance needs as organizational changes occur
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    Effectively manage an organization’s financial business
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    Try to use all 30 segments and 25 characters per segment because you cannot change it later
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    Consider implementing a single, global chart of accounts
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    Limit the number of segments to those you need today to reduce data entry
Question 2

You have enabled budgetary control and have a control budget set to Advisory control level. For September 2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)

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    No change
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    Purchase order encumbrance will be released for $2,100 USD
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    Funds reservation only happens for non-matched invoices, so the system will not reserve funds
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    As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
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    The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
Question 3

You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)

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    Deploy your chart of accounts
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    Use HCM’s Enterprise Structure Configurator (ESC) first
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    Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
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    Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
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    Use the Rapid Implementation spreadsheet when creating your enterprise structure