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Oracle 1z0-1054-20 : Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
- Exam Code: 1z0-1054-20
- Exam Name: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
- Updated: Oct 23, 2026
- Q & A: 103 Questions and Answers
About Oracle 1z0-1054-20 Exam
Relevance decays faster than most candidates expect. In 2026, VCETorrent updates the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials materials regularly, keeping the 103 practice questions aligned with the current exam throughout your 365-day update period.
Oracle 1z0-1054-20 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Financial Reporting | - Financial Reporting Studio - Account Analysis and Reporting |
| Topic 2: Period Close Process | - Reconciliations and Adjustments - Period Close Steps |
| Topic 3: Journal Processing | - Journal Approval Workflow - Recurring Journals - Manual Journal Entries |
| Topic 4: General Ledger Setup | - Enterprise Structure Configuration - Ledger and Ledger Options Setup - Chart of Accounts Structure |
| Topic 5: Accounting Configuration | - Accounting Methods and Rules - Subledger Accounting Integration |
1z0-1054-20 Exam FAQ — Simulate, Schedule, Succeed on Your Terms
The official Oracle Financials Cloud: General Ledger 2020 Implementation Essentials outline defines 5 domains. The leading three are Period Close Process, Accounting Configuration, and General Ledger Setup. The full list is in the topics section above, and VCETorrent's 103 practice questions cover each one.
Recommended understanding of Oracle Financials Cloud fundamentals and general accounting principles. Since requirements change over time, confirm the latest on the official Oracle exam page before scheduling.
Online proctored exam via Oracle testing platform or authorized test centers. Register for the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials exam through these official channels:
After booking, VCETorrent delivers your practice questions within 1 minute — preparation starts the same day.
The 1z0-1054-20 exam is a Oracle certification exam validating the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials syllabus shown above. It belongs to these credential paths: Oracle Financials Cloud: General Ledger, Oracle ERP Cloud Certifications. Candidates in 2026 start with VCETorrent's 103 practice questions, available as a printable PDF, a Windows Desktop Test Engine, and an Online Test Engine — three versions of the same materials.
The official Oracle page publishes the current question count and duration; review it before your test date.
VCETorrent issues a full refund if you take the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials exam within 60 days of purchase and do not pass. The policy does not apply if the exam is taken within 3 days of purchase, if the exam was never actually taken, or to free materials or expired orders, and the candidate name must match the payer name. Submit a scan of your enrollment slip and the official Score Report PDF within 2 days of the exam; claims are processed within 7 days. Alternatively, exchange for two free exam products of equal value and keep your original update service. Orders arrive by email within 1 minute — contact support if nothing arrives within 2 hours.
Scoring and fees are published by Oracle and may change; verify the current figures on the official site.
Oracle recommends these training resources for the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials exam:
Follow the training with steady self-testing — the 103 practice questions from VCETorrent help you apply theory and fill any gaps the training leaves.
Three versions of the same study materials: a printable, expert-prepared PDF with free demo download and instant access; a Desktop Test Engine for Windows with customizable simulation and timed modes that works offline; and an Online Test Engine for any browser on Windows, Mac, Android, and iOS with test history and performance review. All 103 practice questions are identical across versions. Every purchase includes 365 days of free updates, a 50% renewal discount afterward, and unlimited computer installations.
Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Sample Questions:
Question #1
Your customer wants to use a clearing company to automatically balance intercompany entries.
Which three statements are true regarding the use of a clearing company value? (Choose three.)
- A. If you choose to use a clearing company, you can define a default clearing company value or select the clearing company value directly in the general ledger journal
- B. If you do not map legal entities to balancing segment values, then a clearing company can be applied to any journal within the ledger
- C. Clearing companies are not supported
- D. You must map legal entities to balancing segment values in order to use a clearing company
- E. If you map legal entities to balancing segment values, then a clearing company can only be applied within a legal entity
Correct Answer: A,B,E 🗳️
Question #2
You are implementing Segment Value Security rules. Which two statements are true? (Choose two.)
- A. The Segment Value Security rules do not take effect until you assign the rules to users and products
- B. When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts
- C. You can use hierarchies to define rules
- D. When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products
Correct Answer: C,D 🗳️
Question #3
Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Each product has its own Intercompany Accounting feature that needs to be configured separately
- B. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product
- C. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects
- D. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals
Correct Answer: A,D 🗳️
Question #4
When working with Essbase, versions of the tree hierarchy as defined in the General Ledger Cloud are not available in the Essbase balances cube. What should you do to correct this situation?
- A. Make sure the tree version was published successfully
- B. Make sure to flatten the rows of the tree version
- C. Redeploy the chart of accounts
- D. Make sure the tree is active
Correct Answer: A 🗳️
Question #5
You have set up a supporting reference with balances to capture revenue by account manager.
Which option should you use to view the supporting reference balances?
- A. a SmartView analysis
- B. General Ledger inquiries and reports
- C. an Account Group
- D. an OTBI analysis
Correct Answer: D 🗳️
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