Complete 1z0-1054-22 Oracle Materials

Oracle’s recommended approach to performing consolidations when all of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance is to use General Ledger’s Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment. Therefore, option A is correct. Option B is incorrect because you don’t need to use Oracle Hyperion Financial Management for this type of consolidation. Option C is incorrect because you don’t need to use General Ledger’s Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger, and then enter eliminating entries as a separate balancing segment in the parent ledger. Option D is incorrect because you don’t need to define multiple ledgers for consolidation and report on ledger set.

To configure the Intercompany Provider and Receiver distribution accounts to be created automatically for all intercompany transactions, you should configure the intercompany transaction type default accounts. Intercompany transaction types define the default accounts for intercompany receivables and payables for each combination of provider and receiver business units. You can also specify other attributes such as tax classification codes, payment terms, and invoice options for intercompany transactions. You do not need to configure a Provider and Receiver distribution set, as this is not a supported option. You do not need to configure the AutoAccounting Definition, as this is a feature that determines how revenue and receivable accounts are derived for Receivables transactions. You do not need to configure the Transaction Account Definition, as this is a feature that determines how subledger journal entry accounts are derived for subledger transactions. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Configure and Process Intercompany 1

According to Oracle documentation2, you enable invoicing for certain Intercompany transactions on the transaction type. The transaction type defines the characteristics of an intercompany transaction, such as whether it requires approval, whether it generates invoices, and what accounting rules apply. You can enable invoicing for a transaction type by selecting the Invoicing Options tab and choosing the invoice method, invoice source, invoice batch source, and invoice rule. Therefore, option D is correct. Option A is incorrect because you do not enable invoicing on the transaction batch. Option B is incorrect because you do not enable invoicing on the transaction category. Option C is incorrect because you do not enable invoicing on the transaction source.

The two valid Data Access Set types are Full access and Read Only access. A Data Access Set is a security feature that defines the access level that users have to ledger data, such as balances, budgets, or journals. A Data Access Set type is an attribute that determines the type of access that users have to ledger data within a Data Access Set. The two valid Data Access Set types are Full access and Read Only access. Full access allows users to view and enter data for ledger data within a Data Access Set. Read Only access allows users to view but not enter data for ledger data within a Data Access Set. Full Ledger is not a valid Data Access Set type, but an option that determines whether a Data Access Set grants access to all balancing segment values in a ledger or only specific balancing segment values. Primary Balancing Segment Value is not a valid Data Access Set type, but an attribute that identifies the legal entity or business unit for which financial statements are prepared and balanced. Read and Write access is not a valid Data Access Set type, but an alternative term for Full access. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers 12