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| Section | Weight | Objectives |
|---|---|---|
| Intercompany and Intracompany Balancing | 10% | - Configure intercompany transactions - Set up intracompany balancing rules - Process and reconcile intercompany entries |
| Ledgers and Accounting Setup | 25% | - Configure currencies, calendars, and accounting conventions - Define data access sets - Set up subledger accounting - Define ledgers and ledger sets |
| Period Close and Financial Reporting | 15% | - Generate financial statements and reports - Manage accounting periods - Use Financial Reporting Studio and Smart View - Perform revaluation, translation, and consolidation |
| Budgetary Control and Encumbrance Accounting | 10% | - Monitor budget balances and control - Set up encumbrance accounting - Configure budgetary control |
| Enterprise and Financial Reporting Structures | 20% | - Configure chart of accounts - Manage segment value security - Define financial reporting structures - Define enterprise structures |
| Journal Processing | 20% | - Manage allocations and recurring journals - Create and approve journal entries - Perform journal adjustments and reversals - Import and post journals |
The 1Z0-1054-21 exam, officially known as Oracle Financials Cloud: General Ledger 2021 Implementation Essentials, is the Oracle test that leads to the Oracle Financials Cloud: General Ledger 2021 Certified Implementation Specialist certification at the Specialist level. Passing it validates the skills employers expect from a certified professional.
The 1Z0-1054-21 exam contains 55 questions, and you have 90 minutes to complete them. Work out your per-question pace before test day, and flag slow items instead of stalling on them — time pressure, not knowledge, sinks many first attempts. Timed mock exams in the PracticeTorrent test engines are the most reliable way to build that rhythm.
The passing score for the 1Z0-1054-21 exam is 60%, and the official registration fee is USD 245. If you miss the mark, a retake means paying the full fee again, so book your seat only when you are ready. A practical benchmark: score consistently above the passing line on timed practice tests before scheduling the real exam.
No formal prerequisites; Oracle recommends hands-on implementation experience and completion of relevant training courses
Entry requirements can change, so confirm the latest conditions on the official exam page: https://education.oracle.com/oracle-financials-cloud-general-ledger-2021-certified-implementation-specialist/trackp_FINCLDGL21OPN.
You can book the 1Z0-1054-21 exam through the official registration channels below:
Exam delivery: Online proctored or onsite at Pearson VUE test centers. Seats at popular test centers fill quickly, so schedule early once your preparation is on track.
Oracle recommends the following training options for Oracle Financials Cloud: General Ledger 2021 Implementation Essentials candidates:
Pair any course with the 136 practice questions from PracticeTorrent to measure how ready you really are before paying the exam fee.
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The official Oracle Financials Cloud: General Ledger 2021 Implementation Essentials outline is organized into 6 domains. The first three are:
See the complete exam topics section above for the full outline and the weighting of every domain.
You want to prevent intercompany transactions from being entered during the last day of the close.
What should you do?
Correct Answer: B 🗳️
Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use?
Correct Answer: A,C 🗳️
Explanation: Only visible for PracticeTorrent members. You can sign-up / login (it's free).
You are using budgetary control. You have an open purchase order for $500 USD, and an invoice for
$300 is matched to the purchase order. What will be the funds status of the purchase order and the invoice?
Correct Answer: B 🗳️
Explanation: Only visible for PracticeTorrent members. You can sign-up / login (it's free).
What are the Two purposes of a secondary ledger?
Correct Answer: A,C 🗳️
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)
Correct Answer: A,B,D 🗳️
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