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Oracle 1Z0-1054-21 : Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
- Exam Code: 1Z0-1054-21
- Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
- Updated: Sep 24, 2026
- Q & A: 136 Questions and Answers
About Oracle 1Z0-1054-21 Exam
Once you order, we never leave you behind: 24/7 continuous service for every Oracle Financials Cloud: General Ledger 2021 Implementation Essentials buyer at VCETorrent — 136 practice questions for the 1Z0-1054-21 exam with full backup in 2026.
Oracle 1Z0-1054-21 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2021 Implementation Essentials |
| Exam Number: | 1Z0-1054-21 |
| Exam Duration: | 90 minutes |
| Real Exam Qty: | 55 |
| Exam Price: | USD $245 |
| Exam Format: | Multiple Choice |
| Available Languages: | English |
| Related Certifications: | Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist |
| Passing Score: | 60% |
| 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 |
Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Configuring Enterprise and Financial Reporting Structures | - Manage Legal Authorities and Legal Entities - Manage Ledgers - Manage Chart of Accounts - Manage Legal Jurisdictions - Manage Accounting Calendars - Manage Account Hierarchies - Manage Geographies |
| Topic 2: Intercompany Processing | - Configure Intercompany Balancing Rules - Process Intercompany Transactions - Intercompany Reconciliation |
| Topic 3: Period Close | - Close Monitoring and Reporting - Perform Period Close Activities - Manage Accounting Periods |
| Topic 4: Configuring Ledgers | - Define Ledger Options - Configure Secondary Ledgers - Manage Ledger Sets - Configure Reporting Currencies |
| Topic 5: Budgetary Control and Encumbrance Accounting | - Configure Budgetary Control - Encumbrance Accounting - Control Budgets - Funds Check Processing |
| Topic 6: Journal Processing | - Journal Import and Posting - Allocation Rules - Recurring Journals - Create and Manage Journals - Configure Journal Approval |
| Topic 7: Financial Reporting | - Financial Reporting Studio - Account Groups and Reports - Financial Statement Generation - Smart View Reporting |
1Z0-1054-21 Exam FAQ — Concise and Clear
No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training. Eligibility rules change over time, so verify the current requirements on the official page (official 1Z0-1054-21 exam page) before registering.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials is Oracle's certification exam for Oracle Financials Cloud, at the Professional level. Related credentials include Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist. Start simply: free demo first, full set when convinced.
90 minutes for 55 questions. The VCETorrent engine simulates real examination conditions, so the pacing feels familiar before exam day.
Yes — download our demo freely as your reference; you may be impressed by the conciseness and clearness of the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam VCE. Purchases include 365 days of free updates by email; renew afterward at 50% off.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials blueprint spans 7 domains — including Configuring Enterprise and Financial Reporting Structures, Intercompany Processing, Budgetary Control and Encumbrance Accounting. Our material keeps close to this syllabus; the complete outline above lists every subtopic.
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USD $245 per attempt, 60% to pass. Retakes cost the full fee — prepare day to day with the 136 practice questions for the 1Z0-1054-21 exam at VCETorrent and review your wrong items thoroughly.
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
Question #1
You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?
- A. Always use the Outer Point of View (POV)
- B. Specify Run Time Prompts (RTP)
- C. Never use the Outer Point of View (POV)
- D. Only specify segment values in formulas
Correct Answer: A 🗳️
Question #2
You just submitted the Accounting Configuration. What two things must happen before you can enter journals? (Choose two.)
- A. You must re-deploy the chart of accounts
- B. A Data Access Set with full read/write access to the ledger is automatically created
- C. You must define a Data Access Set to obtain full read/write access to ledgers in the Accounting Configuration
- D. You must assign the job role and data security context to each user
Correct Answer: C,D 🗳️
Question #3
How do Cross Validation Rules (CVRs) handle existing violations in the Code Combinations Identification (CCID) table?
- A. If CVR determines that an invalid combination exists in the CCID table, it will automatically disable that account code combination.
- B. CVRs only test new account combinations being inserted into the table. They ignore any invalid account combinations already existing in the table
- C. CVRs are assigned to the end user role; therefore controlling what account code combination individuals can leverage in the General Ledger and the subledgers
- D. Nothing has changed. If you have an invalid account combination existing in the table, you must deactivate it to prevent further usage
Correct Answer: B 🗳️
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Question #4
Alter submitting the journal for approval, you realize that the department value in the journal incorrect.
How do you correct the value?
- A. Update the journal through workflow
- B. Click the Withdraw Approval button in the Edit Journals page and edit the journal
- C. Reverse the journaland create a new one
- D. Delete the journal and create a new journal
Correct Answer: B 🗳️
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Question #5
You have a requirement for the Intercompany Provider and Receiver distribution account to be balance automatically for all intercompany transactions.
What should you configure?
- A. the AutoAccounting Definition
- B. Provider and Receiver distribution set -
- C. the Transaction Account Definition g
- D. Intercompany transaction type default accounts
Correct Answer: B 🗳️
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