Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Cost Management Cloud
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Oracle 1z0-1074-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Inventory and Work Order Costing | - Manufacturing and work order costing - Inventory transactions costing |
| Setup and Configuration | - Cost organization and cost profiles setup - Inventory valuation setup - Costing methods configuration |
| Reporting and Analysis | - Cost reconciliation and audit - Cost analysis reports |
| Cost Accounting and Processing | - Cost accounting distributions - Cost calculation processes - Period close and cost rollup |
| Cost Management Cloud Overview | - Key business processes and architecture - Integration with Oracle SCM Cloud |
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
Identify two characteristics of an expense pool. (Choose two.)
- A. You can define the name of your expense pool, but you cannot define more than one.
- B. It is used only for analyzing gross margins on noninventory sales of services.
- C. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- D. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
Correct Answer: C,D 🗳️
If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings?(Choose Three)
- A. Refer to the Accounting Event Diagnostic Log.
- B. Review errors in the Create Accounting Execution report.
- C. Refer to the Accounting Event Diagnostic report.
- D. Query the transaction from Review Cost Accounting Distributions to see the error message.
- E. Review errors in the Create Accounting Execution log.
Correct Answer: B,C,D 🗳️
Which two outcomes can happen in create accounting when an account combination returned is end dated?
- A. The preprocessor will pre-warn about this error.
- B. An error will always occur.
- C. Suspense accounts cannot be used.
- D. An alternate account will be used if provided.
- E. The original account is stored on the journal line.
Correct Answer: D,E 🗳️
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An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?
- A. Subledger Accounting is already set up to process it.
- B. Create a secondary ledger to track gain/loss.
- C. Turn on the Subledger Gain or Loss Option.
- D. Create a foreign reporting currency to track gain/loss.
Correct Answer: C 🗳️
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
- A. Rule sets where the accounting rules override the method rule set
- B. Rule sets assigned to a secondary ledger with a different COA
- C. Rule sets not associated with any chart of accounts
- D. Rule sets that use the same chart of accounts
- E. Rule sets that have a mapping set to convert the accounts
Correct Answer: C,D 🗳️
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