Oracle GL 2026 (1Z0-1054-26) flashcards

33 cards. Read the term and the definition here. The deck at the top of this page is optional.

Four Cs of a Ledger

Chart of Accounts, Calendar, Currency, and Convention (accounting method). These four attributes define a ledger; changing any of them on a ledger with posted balances requires creating a new ledger.

Business Unit Purpose

A management reporting and transaction-processing entity that groups transactions for a functional area. It is not a legal entity and can be shared across multiple ledgers.

Reference Data Set

A partition assigned to a business unit so that value sets for cost centers or management segments are isolated. Each business unit uses one reference data set per segment.

Accounting Calendar

The structure of accounting periods for a ledger. Period statuses (Never Opened, Open, Closed, Permanently Closed) control whether journals and subledger entries can post.

Accounting Flexfield (CCID)

The combination of segment values from the key flexfield structure. Every journal distribution stores a CCID that identifies the account used for posting and reporting.

Balancing Segment Qualifier

Marks the segment that identifies the legal entity owning the balance. Only one balancing value is allowed per journal line unless the line is intercompany.

Cross-Validation Rule

A rule that restricts which combinations of segment values may coexist. It is evaluated when a combination is created and when a journal is entered.

Dynamic Insertion

A key flexfield setting that allows new account combinations to be created during transaction entry. If disabled, combinations must exist before they can be used.

Account Hierarchy Rollup

A parent-child structure of segment values used for summary reporting and grouping. Parent values are non-posting; only child values receive journal entries.

Journal Entry Rule Set

The SLA configuration that determines how subledger transactions become journal entries. It links event class, event type, journal line type, and account derivation rules.

Account Derivation Rule

An SLA rule that determines the account for a journal line. Sources include constants, transaction flexfields, ledger values, and mapping sets, resolved by precedence.

Create Accounting Process

The SLA process that generates subledger journal entries from transactions. Entries are then transferred to General Ledger, where the GL period must be open.

Suspense Accounting

A fallback account used when SLA cannot derive a valid account for a journal line. Suspense balances must be investigated and cleared before period close.

Journal Line Type

An SLA component that defines the debit or credit side, indicator, and behavior of a generated journal line, such as gain/loss or tax lines.

Recurring Journal Template

A journal template with a recurrence pattern that generates entries on a schedule. The template itself never posts; generated journals are separate entries.

Allocation Basis and Target

An allocation distributes balances from a source to a target using a basis such as headcount or revenue. The basis drives the percentage applied to each target.

Journal Reversal Methods

Options for reversing a posted journal: switch debit and credit, change sign, or no reversal. The reversal period can be next period, same period, or a specified period.

Journal Approval Status

When approval is enabled, a journal moves from Entered to Submitted, Approved or Rejected, then Posted. Rejected journals return to the preparer for resubmission.

Revaluation Process

Restates foreign-currency balances at the current rate and posts unrealized gain or loss. It does not alter the original transaction currency balance.

Translation Rate Types

Translation uses period-end rate for assets and liabilities, average rate for revenue and expense, and historical rate for equity when converting to a reporting currency.

Cumulative Translation Adjustment

The equity account that captures the difference arising from translating balances at different rates. CTA is posted to equity, not to income.

Period Close Sequence

Run subledger accounting and transfer to GL, post journals, run revaluation and translation, reconcile balances, then close the period.

Consolidation Ledger

A ledger that combines balances from multiple source ledgers. Intercompany eliminations remove intra-group balances before consolidated reporting.

Financial Reporting Studio

A report design tool that queries the GL balances cube. Rows, columns, and point-of-view settings such as ledger, period, and currency define the output.

Budgetary Control Check

A funds check that compares a transaction against a control budget. Results are Absolute, Advisory, or Not Available and can block or warn at entry or posting.

Control Budget

The budget used by budgetary control to validate transactions. It defines the available funds and the control level applied to journals and subledger transactions.

Account Inquiry Drill-Down

A GL inquiry that shows beginning balance, period activity, and ending balance, with drill-down to journal lines. Totals must reconcile to the trial balance.

Intercompany Balancing Rules

Rules that generate due-to and due-from entries when journal lines use different balancing segment values, keeping each legal entity in balance.

Intercompany Reconciliation

A process that matches payables and receivables between legal entities. Unmatched intercompany balances remain open and must be resolved before close.

Secondary Ledger

A ledger that can differ from the primary ledger in Chart of Accounts, calendar, currency, or accounting method. Transactions are replicated and accounted separately.

Reporting Currency Ledger

A ledger that uses the same Chart of Accounts and calendar as the primary ledger but a different currency. Balances are produced through translation.

Data Access Set

A security construct that grants access to ledgers and specific balancing or management segment values. It is assigned to roles and scopes GL and subledger data.

Segment Value Security

A restriction that limits which segment values a user can view or use. It is enforced in addition to data access sets and role privileges.