Oracle 1Z0-1054-25 Exam Dumps

A primary ledger is the main ledger for a legal entity or business unit that records all accounting transactions and maintains the accounting balances. A secondary ledger is an optional ledger that is associated with a primary ledger and maintains accounting balances in a different accounting representation. A reporting currency is an optional currency that is associated with a primary ledger and maintains accounting balances in a different currency. In this scenario, the subsidiary company needs to produce fiscal reports under local GAAP and local currency, as well as report to the parent company using IFRS and not local currency. Therefore, the subsidiary company should configure a primary ledger with the local accounting convention and local currency, and a secondary ledger with the IFRS accounting convention and not local currency. A reporting currency with the local accounting convention or the IFRS accounting convention would not meet the requirement, as it would only maintain balances in a different currency, not a different accounting representation. A primary ledger with the IFRS accounting convention would not meet the requirement, as it would not comply with the local GAAP.Reference:

Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 2: Ledgers, Primary Ledgers, Secondary Ledgers, and Reporting Currencies

Oracle Financials Cloud Using General Ledger, Chapter 1: Introduction, Ledgers and Subledgers, Primary Ledgers, Secondary Ledgers, and Reporting Currencies

Here are the steps you need to follow:

In the Setup and Maintenance work area, go to the following:

Offering: Financials

Functional Area: Financial Reporting Structures

Task: Manage Shorthand Aliases

Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.

Click on the Add Row icon to create a new alias. Enter the following information:

Alias Name: RevDom

Account Template: 101-2000-400000-000-000-000

Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center

Enabled: Yes

Start Date: Today's date

End Date: Blank

Click on the Save and Close button to save the alias.

You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:

Account Aliases

Enter a GL Account Alias

Short Hand Alias in Fusion Financials Key Flexfield

How to Enable Account Shorthand Aliases

The revaluation process is used to adjust account balances denominated in a foreign currency. Revaluation adjustments represent the difference in account balances due to changes in conversion rates between the date of the original journal and the revaluation date. These adjustments are posted through journal entries to the underlying account with the offset posted to an unrealized gain or loss account. The two statements that are true about the resulting revaluation run are:

You have an unrealized exchange loss recorded: Since the ledger currency (USD) has depreciated against the foreign currency (Euro) from the date of the original journal to the revaluation date, the account balance in USD has increased. This means that you have a loss on the