Oracle Financials Cloud: General Ledger 2025 Implementation Professional Practice Exam: Test Your Knowledge 2025

Your organization is implementing Oracle Financials Cloud General Ledger and needs to create a new ledger. Which three components are mandatory prerequisites that must be configured before you can create a primary ledger?

A multinational corporation operates in 15 countries and needs to report in multiple currencies. They require statutory reporting in local currencies for each country, consolidated reporting in USD, and management reporting in EUR. What is the most efficient ledger configuration approach?

During period close, your accounting team discovers that journal entries dated in the current period were accidentally entered with the prior period name. The prior period is already closed. What is the correct approach to resolve this issue?

What is the purpose of the Accounting Configuration in Oracle Financials Cloud General Ledger?

Your organization needs to generate Financial Statements that compare actual results against budget across multiple cost centers. Which Oracle Financials Cloud reporting tool is best suited for this requirement?

A company has defined an intercompany transaction where the provider legal entity is in the US and the receiver legal entity is in the UK. The transaction amount is $10,000 USD. What configuration is required to ensure proper intercompany balancing?

During the period close process, which task must be completed before you can run translation for a secondary ledger that uses a different currency from the primary ledger?

Which statement about Data Access Sets in Oracle Financials Cloud General Ledger is TRUE?

Your organization wants to automatically generate recurring monthly depreciation journals. What is the correct configuration approach?

A company needs to track project costs across multiple departments and legal entities. Which account combination approach provides the most flexibility for reporting?

When configuring the period close process, what is the primary purpose of defining a Period Close Checklist?

A global organization needs to eliminate intercompany transactions during consolidation. Which feature should be configured to automatically identify and eliminate intercompany balances?

Your organization uses average balance processing for calculating interest on customer deposits. In which order should the following processes be executed during period close?

Which feature allows users to perform ad-hoc analysis, create pivot tables, and update Oracle Financials Cloud data directly from Microsoft Excel?

Your company has acquired a new subsidiary that uses a different chart of accounts structure. The subsidiary must maintain its own chart of accounts for local statutory reporting but also report into the parent company's consolidated financials. What is the recommended approach?

An organization wants to analyze account balances by drilling down to source documents from subledgers. Which reporting tool provides this drill-down capability to transactional details?

Your organization needs to allocate corporate overhead costs to business units based on headcount. The allocation should occur automatically each month after all journals are posted. What components are required to implement this solution?

What is the impact of enabling the 'Allow Journal Approval' option at the ledger level?

A multinational company needs to comply with local statutory requirements that mandate specific account structures and reporting formats for three different countries. Each country's requirements are significantly different. What is the most appropriate ledger architecture?

Which Oracle Financials Cloud tool enables users to create self-service analyses and dashboards based on General Ledger subject areas without requiring technical expertise?