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| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2021 Implementation Essentials |
| Exam Number: | 1Z0-1054-21 |
| Passing Score: | 60% |
| Real Exam Qty: | 55 |
| Available Languages: | English |
| Exam Duration: | 90 minutes |
| Exam Format: | Multiple Choice |
| Exam Price: | USD $245 |
| Related Certifications: | Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist |
| Sample Questions: |  |
| Exam Way: | Pearson VUE testing center or Oracle online proctored exam |
| Pre Condition: | No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training. |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-general-ledger-2021-certified-implementation-specialist/trackp_ERPGL2021 |
| Section | Objectives |
|---|---|
| Period Close | - Manage Accounting Periods - Perform Period Close Activities - Close Monitoring and Reporting |
| Journal Processing | - Allocation Rules - Journal Import and Posting - Recurring Journals - Create and Manage Journals - Configure Journal Approval |
| Budgetary Control and Encumbrance Accounting | - Funds Check Processing - Configure Budgetary Control - Control Budgets - Encumbrance Accounting |
| Configuring Ledgers | - Manage Ledger Sets - Configure Reporting Currencies - Define Ledger Options - Configure Secondary Ledgers |
| Intercompany Processing | - Process Intercompany Transactions - Configure Intercompany Balancing Rules - Intercompany Reconciliation |
| Financial Reporting | - Account Groups and Reports - Financial Statement Generation - Smart View Reporting - Financial Reporting Studio |
| Configuring Enterprise and Financial Reporting Structures | - Manage Accounting Calendars - Manage Legal Jurisdictions - Manage Geographies - Manage Chart of Accounts - Manage Ledgers - Manage Legal Authorities and Legal Entities - Manage Account Hierarchies |
The official Oracle Financials Cloud: General Ledger 2021 Implementation Essentials outline defines 7 domains. The leading three are Configuring Enterprise and Financial Reporting Structures, Intercompany Processing, and Journal Processing. The full list is in the topics section above, and TorrentVCE's 136 practice questions cover each one.
No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training. Since requirements change over time, confirm the latest on the official Oracle exam page before scheduling.
Pearson VUE testing center or Oracle online proctored exam Register for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam through these official channels:
After booking, TorrentVCE delivers your practice questions within 1 minute — preparation starts the same day.
The 1Z0-1054-21 exam is a Oracle certification exam validating the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials syllabus shown above. It belongs to these credential paths: Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist. Candidates in 2026 start with TorrentVCE's 136 practice questions, available as a printable PDF, a Windows Desktop Test Engine, and an Online Test Engine — three versions of the same materials.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam contains 55 to complete within 90 minutes. Timed simulation in the TorrentVCE Desktop Test Engine teaches that rhythm before exam day does.
TorrentVCE issues a full refund if you take the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam within 60 days of purchase and do not pass. The policy does not apply if the exam is taken within 3 days of purchase, if the exam was never actually taken, or to free materials or expired orders, and the candidate name must match the payer name. Submit a scan of your enrollment slip and the official Score Report PDF within 2 days of the exam; claims are processed within 7 days. Alternatively, exchange for two free exam products of equal value and keep your original update service. Orders arrive by email within 1 minute — contact support if nothing arrives within 2 hours.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam requires 60% to pass, and registration costs USD $245. A failed attempt means paying the same fee again — a readiness check with the TorrentVCE engines before booking is the cheaper option.
Oracle recommends these training resources for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam:
Follow the training with steady self-testing — the 136 practice questions from TorrentVCE help you apply theory and fill any gaps the training leaves.
Three versions of the same study materials: a printable, expert-prepared PDF with free demo download and instant access; a Desktop Test Engine for Windows with customizable simulation and timed modes that works offline; and an Online Test Engine for any browser on Windows, Mac, Android, and iOS with test history and performance review. All 136 practice questions are identical across versions. Every purchase includes 365 days of free updates, a 50% renewal discount afterward, and unlimited computer installations.
You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered after you consolidated your results. What is Oracle's recommended practice when this occurs?
Correct Answer: B 🗳️
Explanation: Only visible for TorrentVCE members. You can sign-up / login (it's free).
You set up a secondary ledger using the Manage Secondary Ledger task and selected a data conversion level of subledger. Which two actions should you now perform to prevent duplicate accounting entries?
Correct Answer: C,D 🗳️
Your are setting up Close Monitor, which comprises a ledger set hierarchy definition. Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose Two)
Correct Answer: A,C 🗳️
You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel invoice. What happened to funds available when you cancel and invoice that requires budgetary control?
Correct Answer: A 🗳️
During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
Correct Answer: A 🗳️
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