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

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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

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Oracle cloud administrator roles are in great demand nowadays. Oracle 1z0-1054-20 exam certified professionals earn an average salary in:

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

Cloud Journal Processing

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

Subledger Accounting

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

Intercompany Processing

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

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

Reporting & Analytics

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

Period Close

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

Budgetary Control and Encumbrance

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

Oracle 1z0-1054-20 Exam Syllabus Topics: