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How to Prepare for Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Exam

Preparation Guide for Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Administrator Exam

Introduction

Oracle is a global American information technology corporation located in California. Oracle is a multinational organisation that designs enterprise software systems. Oracle sells numerous cloud-based software and frameworks, as well as hardware and resources to help businesses grow their operations. The emphasis of Oracle's applications is data processing, market intelligence, IT operational management, corporate resource planning, protection, and new technologies. Oracle is well known for its hardware and cloud applications. Oracle Cloud, DBMS, is one of the most common corporate databases in the world.

Oracle also designs and develops methods and software for middle-tier application management frameworks, Human Capital Management (HCM), Customer Relationship Management (CRM), Enterprise Resource Planning Systems (ERP) and Supply Chain Management systems (SCM). Oracle Database is a multi-model database management framework generally known as the Oracle Database Management System (DBMS). It is a commonly used database for executing applications for data storage and transaction processing. Oracle Database is open to a variety of service providers on server, premises or mixed cloud installation.

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Reference: https://education.oracle.com/oracle-financials-cloud-general-ledger-2020-implementation-essentials/pexam_1Z0-1054-20

Topics of Oracle 1z0-1054-20: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Exam

The Oracle 1z0-1054-20 exam tests the abilities and knowledge of the candidates by checking the following objectives:

Enterprise Cloud Structures

• Configure the Chart of Accounts
• Set up accounting hierarchies
• Configure Ledgers
• Configure the legal entity structure and define the relationship to the Chart of Account
• Configure Chart of Accounts Security
• Explain Essbase
• Set up the accounting calendar

Cloud Journal Processing

• Configure allocations and periodic entries
• Explain the secondary ledger and reporting currencies
• Explain the journal approval set up
• Configure automated journal processing
• Process journal entries

Subledger Accounting

• Create and process subledger accounting entries
• Identify supporting references
• Explain the journal description rules
• Create and manage Accounting Rules

Intercompany Processing

-Create the Chart of Accounts and segment level rules for intercompany transactions.

• Describe intercompany balancing
• Process intercompany transactions and periods
• Process intercompany reconciliations
• Set up Intercompany Accounting (system options, transaction types, organizations)

Reporting & Analytics

• Explain OTBI and GL Subject Areas
• Set up the Financials Reporting Studio
• Describe the General Accounting Dashboard and Work Areas
• Describe Smart View accounting inquiry and analysis
• Explain how to design and use various reporting tools
• Analyze budgets versus actuals

Period Close

• Explain the Close Process
• Configure and process translations
• Close monitor
• Configure and process revaluations
• Analyze reconciliations
• Configure and process consolidations

Budgetary Control and Encumbrance

• Process Encumbrance Journals
• Configure Encumbrance Accounting
• Configure and Process Budgets
• Explain how to analyze and monitor Budget Consumption

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