Exam Name: Oracle Financials Cloud: General Ledger 2018 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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- Total Questions: 80
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- Total Questions: 80
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- Total Questions: 80
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Free demo, latest questions, a year of free updates, instant delivery, and a refund policy with clear written terms — ITCertMagic is built to serve every candidate's best interests on the Oracle Financials Cloud: General Ledger 2018 Implementation Essentials exam. All that remains is your commitment to the 80 practice questions for the 1Z1-1004 exam.
Oracle 1Z1-1004 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| General Setup | - Manage Legal Entities and Business Units - Configure Ledgers - Manage Accounting Calendars - Configure Currencies |
| Intercompany Processing | - Configure Intercompany Organizations - Manage Intercompany Transactions - Perform Intercompany Reconciliation |
| Enterprise Structures | - Manage Cross-Validation Rules - Manage Value Sets - Configure Trees and Hierarchies - Configure Chart of Accounts |
| Journal Processing | - Manage Journal Approval - Use Spreadsheet Integration - Create and Post Journals - Configure Recurring Journals |
| Period Close | - Manage Accounting Periods - Perform Close Processes - Monitor Close Status |
| Reporting and Dashboards | - Oracle Transactional Business Intelligence - BI Publisher Reporting - Financial Reporting Center - Smart View Integration |
| Budgetary Control and Encumbrance Accounting | - Manage Funds Checking - Configure Budgetary Control - Configure Encumbrance Accounting |
| Subledger Accounting | - Configure Accounting Methods - Manage Accounting Rules - Transfer and Post Subledger Entries |
The Questions 1Z1-1004 Candidates Ask ITCertMagic Most
The 1Z1-1004 exam is Oracle's official certification test — passing it earns the Oracle Financials Cloud credential at the Implementation Specialist level. It demands genuine, working knowledge rather than theory alone, which is why candidates who prepare casually tend to stumble. It also feeds into related credentials such as Oracle Financials Cloud Certified Implementation Specialist, extending its value beyond one certificate.
Protection and delivery, both in writing. Delivery: the 1Z1-1004 product reaches your mailbox within one minute of payment; if nothing arrives within 2 hours, check spam and contact support for an immediate resend. Refund: sit the corresponding 1Z1-1004 exam within 60 days of purchase, and if you fail, apply with a scanned enrollment slip and the official Score Report PDF within 2 days after the exam — refunds complete within 7 days. The policy covers the corresponding exam only; attempts within 3 days of purchase, exams never actually taken, free materials, and expired orders are excluded, and the candidate name must match the payer name. Prefer to keep going? Exchange your product for two free exam products of equal value instead — the update service on your original purchase stays active.
The Oracle Financials Cloud: General Ledger 2018 Implementation Essentials exam costs USD $245 per attempt, with 65% as the passing mark. Fail, and USD $245 is payable again — the price of walking in half-prepared. A practical safeguard: practice with ITCertMagic until your timed mock results clear 65% comfortably, then book the 1Z1-1004 exam.
Oracle recommends hands-on experience implementing Oracle Financials Cloud General Ledger solutions and completion of relevant Oracle University training courses. Eligibility requirements come from Oracle and can be revised, so confirm the current rules on the official exam page: https://education.oracle.com before committing to a Oracle Financials Cloud: General Ledger 2018 Implementation Essentials registration.
The Oracle Financials Cloud: General Ledger 2018 Implementation Essentials exam is organized into 8 knowledge areas, with Budgetary Control and Encumbrance Accounting, Enterprise Structures, Period Close among the most significant. Allocate study time to match those weights, and see the outline section above for the complete list.
80 questions in 120 minutes — that is the Oracle Financials Cloud: General Ledger 2018 Implementation Essentials exam in numbers. The per-question budget is tight, and hesitation is what eats it. Train the pace deliberately: run full timed simulations in the ITCertMagic engine, practice committing to an answer and moving on, and the real 1Z1-1004 exam will feel familiar instead of frantic.
You can — the ITCertMagic free demo covers the Oracle Financials Cloud: General Ledger 2018 Implementation Essentials material, so download some sample questions and answers first and judge quality yourself. Once you buy, 365 days of free updates are included; after that period, extend the update service at a 50% discount from your member zone.
Oracle Financials Cloud: General Ledger 2018 Implementation Essentials Sample Questions:
Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses in Australia, New Zealand, and Singapore with a ledger in each country with a Corporate chart of account instance that has four segments. Which three statements are true regarding the creation of a control budget? (Choose three.)
- A. A control budget can be associated with a different calendar than accounting calendar
- B. Control budgets are always absolute to generate encumbrance accounting
- C. The control budget structure has all the chart of account segments as budget segments
- D. A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand, and Singapore
- E. A control budget can allow override rules only if the control level is absolute
Correct Answer: A,B,E 🗳️
You have enabled budgetary control and have a control budget set to Advisory control level. For September
2016, your budget for a given account combination is $5,000 USD. In the same month, there is an approved requisition for that account of $900 and an approved purchase order for that account of $2,500 USD. There is also a General Ledger adjustment journal entry for that account of $1,600 USD. An approved purchase order line of $400 USD is then cancelled. And an invoice is matched to the purchase order for $2,100 USD. Which two statements are true? (Choose two.)
- A. Purchase order encumbrance will be released for $2,100 USD
- B. Funds reservation only happens for non-matched invoices, so the system will not reserve funds
- C. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016
- D. No change
- E. The system always consumes budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation
Correct Answer: A,C 🗳️
You operate in a country whose unstable currency makes it unsuitable for managing your day-to-day business.
As a consequence, you need to manage your business in a more stable currency while retaining the ability to report in the unstable local currency. What would be your recommendation when defining ledgers?
- A. Run Revaluation as often as you need to the more stable currency and report on the more stable currency's balances
- B. Run Revaluation to translate into Statistical Currency
- C. Create a secondary ledger that uses a different chart of accounts that is denominated in the more stable currency
- D. Use Journal-Level or Subledger-Level Reporting Currencies denominated in the more stable currency
Correct Answer: D 🗳️
What are the two purposes of a secondary ledger? (Choose two.)
- A. It should not be used when trying to meet local accounting requirements
- B. It is used to main balances in a different currency only
- C. It should only be used to main balances for processing performance
- D. It can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency, and/or journal processing options
- E. It is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting
Correct Answer: D,E 🗳️
You are setting up Close Monitor, which compromises a ledger set hierarchy definition.
Which two components of the enterprise structure should the ledgers in the ledger set share? (Choose two.)
- A. Accounting Calendar
- B. Chart of Accounts and Business Units
- C. Legal Entities, Business Units, and Chart of Accounts
- D. Chart of Accounts
- E. Chart of Accounts, Currency, Accounting Calendar, and Subledger Accounting Method
Correct Answer: A,D 🗳️
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