1Z0-1054-20 | Oracle Financials Cloud: General Ledger 2020
Candidates preparing for Oracle Financials Cloud: General Ledger 2020 Certified Implementation Specialist | 1Z0-1054-20 exam should have a strong foundation and expertise in executing Oracle Financials Cloud Service Solutions. After completing this Oracle 1Z0-1054-20 course you will gain knowledge over topics including –
- General Set Up
- Enterprise Structures
- Journal Processing
- Subledger Accounting
- Intercompany Processing
- Reporting & Dashboards
- Period Close
- Budgetary Control.
It is therefore recommended to be updated with training and field experience.
Target Job Roles
- Implementers
- Administrators
- Business Users
Oracle 1Z0-1054-20: Exam Details
| Exam Title: | Oracle Financials Cloud: General Ledger 2020 Implementation Essentials |
| Exam Number: | 1Z0-1054-20 |
| Exam Price: | $245 |
| Format: | Multiple Choice |
| Duration: | 85 Minutes |
| Number of Questions: | 55 |
| Passing Score: | 60% |
| Validated Against: | This exam has been validated against 20B. |
Oracle 1Z0-1054-20: Course Outline
1. Enterprise Structures
- Configure the Chart of Accounts
- Explain Essbase
- Set up accounting hierarchies
- Set up the accounting calendar
- Configure Chart of Accounts Security
- Configure the legal entity structure and define the relationship to the Chart of Account
- Configure Ledgers
2. Subledger Accounting
- Create and manage Accounting Rules
- Create and process subledger accounting entries
- Explain the journal description rules
- Identify supporting references
3. Reporting & Anaytics
- Explain how to design and use various reporting tools
- Set up the Financials Reporting Studio
- Explain OTBI and GL Subject Areas
- Describe Smart View accounting inquiry and analysis
- Describe the General Accounting Dashboard and Work Areas
- Analyze budgets versus actuals
4. Budgetary Control and Encumbrance
- Configure and Process Budgets
- Explain how to analyze and monitor Budget Consumption
- Configure Encumbrance Accounting
- Process Encumbrance Journals
5. Journal Processing
- Process journal entries
- Configure automated journal processing
- Explain the journal approval set up
- Configure allocations and periodic entries
- Explain the secondary ledger and reporting currencies
6. Intercompany Processing
- Design the Chart of Accounts and segment level rules for intercompany
- Set up Intercompany Accounting (system options, transaction types, organizations)
- Describe intercompany balancing
- Process intercompany transactions and periods
- Process intercompany reconciliations
7. Period Close
- Explain the Close Process
- Configure and process revaluations, translations, and consolidations
- Analyze reconciliations
- Close monitor
Exam Scheduling
Oracle 1Z0-1054-20 exam can be scheduled through Oracle external testing provider PearsonVue in the following manner:
- By directly paying with a credit card or,
- By redeeming the voucher you’ve purchased from Oracle.
Exam Policies
Certain exam policies are provided by Oracle Certification to help candidates understand the procedure and conditions. However, candidates studying for the Oracle 1Z0-1054-20 exam must go through these exam policies and get information about the exam. Some of them include:
Retake Policy
Registration for retaking the exam will be allowed on the 14th day from the exam failure. An online non-proctored exam may be taken at any time. You are not allowed to retake a passed exam at any time. Only 4 attempts are allowed to pass an exam in a 12-month period. Re submission of a failed Master Assignment within 30 days of receiving the notification of failing is a must.
Cloud Re-certification Policy
Oracle Cloud Certification credentials are valid only for a period of 18 months from the date you pass the exam. This certification will become inactive at the end of 18 months. For Oracle candidates, in order to have access to various certification benefits like using Oracle certification logos, certificates, scoring reports, digital badges, and certification verification it is necessary to hold an active certification. Moreover, the Oracle Cloud Certifications are updated continuously throughout the year for keeping current with major product and service releases and re-released on an annual basis with a new title. Therefore, you have to re-certify yourself with the latest version of the exam.
Cancellation Policy
To cancel or reschedule the exam, you should go to pearsonvue.com/oracle and login to the account. There you need to select one of the options on the right of the page: Reschedule a Test or Cancel a Test. However, if you do not appear for a scheduled exam your full exam fee will get forfeited. If the exam fee is paid through a voucher then that voucher will be invalidated for future use.
For more visit:1Z0-1054-20 | Oracle Financials Cloud: General Ledger 2020 Implementation Essentials FAQ
Preparation Guide for Oracle 1Z0-1054-20
Oracle Financials Cloud Learning Subscription
This subscription will enable the full power of your Oracle Financials Cloud applications. With this subscription, you will get in-depth knowledge about Oracle Financials Cloud. One attempt at each Oracle Cloud implementation certification exam is included in this subscription, therefore, enabling you to become Oracle certified. You can access comprehensive and high-quality training videos delivered by Oracle experts. You can also practice what you have learned with hands-on labs using live cloud environments. Additionally, the training in this learning subscription is updated with each new product release enabling you to stay current on key product enhancements.
This Oracle Learning Subscription includes new features that will enhance the whole training experience:
- Continuous Learning: Full access for 12 months so you can continuously learn as your training needs evolve
- Stay Current: The training is updated with each new release, enabling you to stay up-to-date on key enhancements
- Easy-to-Use Interface with Intuitive Filtering: A simple taxonomy of learning paths, courses, and modules with powerful filtering helps you quickly find what interests you
- Skill-Based Learning: Attain the skills you need to competently perform your job with complete sets of digital training videos delivered by Oracle experts
- Learning Paths: Learning paths guide you through the recommended training to build the skills that interest you
- Hands-On Labs: Practice with hands-on labs using live cloud environments
- Access to Instructors: Get your questions answered from top instructors
- Reporting: Track your learning progress and achievements through your dashboard
Learning Path
You will develop a thorough understanding as to how to implement, administer, and use the General Ledger solution so that your business can better manage financial transactions and reporting requirements.
1. Certified Financial Management- General Ledger Implementer Path Overview
Introduction to Oracle Financials Cloud
Those who are new to Financials Cloud can benefit from this introduction module. You’ll gain an understanding of the navigation, key product features, and robust reporting capabilities of the Financials Cloud solution.
In this module, you will learn about the key features and functionality offered by specific modules within Financials Cloud, including General Ledger, Accounts Payables, Accounts Receivables, Revenue Management, Assets, Cash Management, and Financial Reporting. By taking this course, you’ll gain an understanding of how you can leverage the capabilities of the Financials Cloud solution. However, as this is a seminar Oracle University does not include hands-on activities for students.
Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation
This Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation will help you how to implement Enterprise structures. You will learn to identify the key concepts of Oracle Financials Rapid Implementation, Use the Functional Setup Manager (FSM) to implement Oracle Financials, Set up Oracle Fusion General Ledger, Discuss all base functions of General Ledger. This will help you to ensure a smooth, rapid, and successful implementation of Oracle Enterprise structures with General Ledger.
Oracle Financials Cloud: Using General Ledger
Oracle Financials Cloud: Using General Ledger training teaches you how to use and maintain Oracle General Ledger and related products, including Oracle Intercompany and Financial Reporting Studio. You will learn to Understand Oracle Fusion General Ledger features, Explore the configuration of enterprise structures, Discuss the Common Applications configuration for Financials, Use General Ledger including journal entries, allocations, intercompany entries, budgeting, consolidations, and financial reporting. This course will help you understand all of the features and options enabling you to use the system to effectively manage your financial processes from journal entry to period close.
Oracle Financials Cloud: Financials Reporting
Oracle Financials Cloud: Financial Reporting training will provide functional and implementation training for Oracle Financial Reporting. You will learn to use account groups and infolets, explore the Financial Reporting Center, analyze data through Smart View and Account Monitor, create financial reports using the Financial Reporting Studio, create Oracle Transactions Business Intelligence dashboard and reports, use Business Intelligence Publisher templates and data models, edit reporting templates, understand how to navigate the applications. This course will give you an understanding of how to best use Financial Reporting to run the finance side of your business.
Oracle ERP Cloud: Budgetary Control and Encumbrance Accounting Fundamentals
Oracle ERP Cloud: Budgetary Control and Encumbrance Accounting Fundamentals training will teach you how to implement and use Budgetary Control and Encumbrance Accounting. This course will also teach you how to navigate the Cloud Applications and use Functional Setup Manager (FSM) to maintain Budgetary Control. Further, you will learn to Implement and use Budgetary Control and Encumbrance Accounting, setup Budgetary Control, and Encumbrance Accounting processes including accounting, budgeting, and reporting, understand implementing and using Encumbrance Accounting, report on Budgetary Control and Encumbrance Accounting. You will be provided with access to hands-on labs where you can apply your new knowledge to solve issues you encounter on the job.
2. Getting Started with General Ledger – Core Team Path Overview
Introduction to Oracle Financials Cloud
Those who take this course will gain an understanding of the navigation, key product features, and robust reporting capabilities of the Financials Cloud solution. You’ll get to learn about the key features and functionality offered by specific modules within Financials Cloud, including General Ledger, Accounts Payables, Accounts Receivables, Revenue Management, Assets, Cash Management, and Financial Reporting. By taking this course, you’ll build an understanding of how you can leverage the capabilities of the Financials Cloud solution to empower your team to streamline your financial business processes and accelerate your decision making with access to real-time information access.
Join Study Groups
Joining study groups is an excellent way to get yourself fully involved with the certification exam you have applied for. These groups contain both beginners as well as professionals which makes it more interactive and thus making it a library with a variety of questions and answers. Therefore, you can also ask any query related to the exam and gather information from these groups. Due to the presence of experienced professionals these groups are always updated with the latest changes.
Practice Tests
During the preparation time, practice tests are of utmost importance. The best way to assess your progress is by solving practice tests as and when a topic or section is completed. This will not only help you remember things but also spot your weak areas. Therefore, practice now with testpreptraining.com to excel in your exams.
