Oracle Exam 1Z0-1054-23 Topic 1 Question 9 Discussion

Actual exam question for Oracle's 1Z0-1054-23 exam

Question #: 9
Topic #: 1

You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud.

The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.

The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.

Which conversion level would you recommend to keep a thin secondary ledger?

AJournal ledger

BAdjustment only

CBalance level

DSub-ledger level.

Show Suggested Answer

Suggested Answer: C

To keep a thin secondary ledger, you should select the balance level as the data conversion level. This means that only the ending balances of the primary ledger are copied to the secondary ledger at the end of each period. This reduces the data volume and storage requirements of the secondary ledger, as well as the processing time and resources needed to copy the data. The balance level conversion is suitable for scenarios where the accounting methods or charts of accounts are similar between the primary and secondary ledgers, and there is no need to maintain detailed journals or subledger transactions in the secondary ledger.Reference:Primary Ledgers, Secondary Ledgers, and Reporting Currencies,How Journals Are Copied from Primary to Secondary Ledgers When ...,GL Secondary Ledger Conversion Level Change

by Lashaunda at Apr 27, 2024, 06:22 PM

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7 months ago

Hey, what do you think about that question on the subsidiary setup in Oracle Fusion Cloud?

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