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Exam Code: 1Z0-1054-21
Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Updated: Oct 05, 2026
Q & A: 136 Questions and Answers
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Oracle 1Z0-1054-21 certification exam covers a range of topics related to Oracle Financials Cloud: General Ledger, such as creating and managing journal entries, managing accounting periods, defining and managing chart of accounts, managing currencies and exchange rates, and managing intercompany transactions. Oracle Financials Cloud: General Ledger 2021 Implementation Essentials certification exam also assesses your understanding of financial reporting and analysis, including creating and managing financial reports, defining and managing financial hierarchies, and understanding the accounting and reporting process.
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam consists of 60 multiple-choice questions that must be completed within 105 minutes. 1Z0-1054-21 exam covers a wide range of topics, including setting up and managing accounting structures, configuring accounting rules, creating and managing journals, and performing accounting period close. Candidates must demonstrate their understanding of financial reporting, intercompany transactions, and tax reporting.
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Oracle Financials Cloud is a comprehensive suite of applications that enables organizations to streamline their financial operations and improve their business performance. The General Ledger module is a critical component of this suite, providing a centralized repository for financial data and ensuring that all transactions are properly recorded and accounted for. The 1Z0-1054-21 exam is specifically designed to test the candidate's understanding of the General Ledger module and their ability to implement it effectively.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Journal Processing | 20% | - Create and approve journal entries - Import and post journals - Manage allocations and recurring journals - Perform journal adjustments and reversals |
| Topic 2: Intercompany and Intracompany Balancing | 10% | - Configure intercompany transactions - Set up intracompany balancing rules - Process and reconcile intercompany entries |
| Topic 3: Ledgers and Accounting Setup | 25% | - Define ledgers and ledger sets - Set up subledger accounting - Define data access sets - Configure currencies, calendars, and accounting conventions |
| Topic 4: Period Close and Financial Reporting | 15% | - Perform revaluation, translation, and consolidation - Manage accounting periods - Generate financial statements and reports - Use Financial Reporting Studio and Smart View |
| Topic 5: Budgetary Control and Encumbrance Accounting | 10% | - Monitor budget balances and control - Set up encumbrance accounting - Configure budgetary control |
| Topic 6: Enterprise and Financial Reporting Structures | 20% | - Define financial reporting structures - Configure chart of accounts - Manage segment value security - Define enterprise structures |
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