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Oracle 1z0-1060-24 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Oracle Accounting Hub Cloud Implementation | - Transaction Processing and Accounting Rules - Reporting and Reconciliation - Integration with Oracle Financials Cloud - Configuration and Setup |
Oracle 1z0-1060-24 Exam — Questions and Answers
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The Oracle Accounting Hub Cloud 2024 Implementation Professional blueprint spans 1 domains — among them Oracle Accounting Hub Cloud Implementation. Weightings are the vendor's way of saying where points concentrate, so budget your time accordingly. The full outline above details every subtopic.
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The Oracle Accounting Hub Cloud 2024 Implementation Professional is Oracle's official exam for the Oracle Accounting Hub Cloud 2024 Implementation Professional certification, at the Professional level. It tests real professional knowledge and experience — that's why it's considered difficult, and why the credential means something. It also connects to related credentials like Oracle Financials Cloud Certifications.
Oracle Accounting Hub Cloud 2024 Implementation Professional Sample Questions:
The Unified Migration option helps move functional setup data from one instance to another.
Which TWO statements are true about Unified Migration?
- A. You can optionally migrate only the new changes if both environments are synchronized
- B. The Unified Migration option requires registration of the target environment in the source environment
- C. You need to manually download the configuration set from the source and manually upload it into the target
- D. There is no need to import the migration set into a sandbox instance before it is applied to the target environment
Correct Answer: A,B 🗳️
You are designing an income statement report with the help of Financial Reporting Studio. You add row numbers 3, 4, and 5 to reflect the balances for three different expense accounts and row number 6 to reflect the sum of row numbers 3, 4, and 5.
Which formula should be used on row number 6 to calculate the sum?
- A. 3:5{3:5}3:5
- B. [3:5][3:5][3:5]
- C. [3,5][3,5][3,5]
- D. [3;5][3;5][3;5]
Correct Answer: B 🗳️
SIMULATION
Challenge 2: Manage Account Rule
TASK
Create Account Rule with 3 priorities
Name of Account Rule: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement
Correct Answer:
See the Explanation below for all the solution
Explanation:
Step-by-Step Guide to Create an Account Rule with 3 Priorities in Oracle Fusion Step 1: Navigate to Manage Account Rules Log in to Oracle Fusion with appropriate privileges for Subledger Accounting.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), navigate to:
Financials
Subledger Accounting
Manage Account Rules.
Step 2: Create the Account Rule
Click Create to add a new Account Rule.
Enter the following details:
Name: Revenue Account
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement Rule Type: Account Click Save, then proceed to define Priorities.
Step 3: Define Three Priorities for the Revenue Account Rule
Now, define three priorities for determining the revenue account:
Priority 1: Derived from Transaction Type
Click Add Row to define Priority 1.
Set Priority Order as 1.
Define Condition:
If Transaction Type = "Customer Billing", then Account = 4000 (Revenue Account) Source Type: Use Transaction Type as the basis.
Click Save.
Priority 2: Derived from Customer
Click Add Row to define Priority 2.
Set Priority Order as 2.
Define Condition:
If Customer Category = "Wholesale", then Account = 4010 (Wholesale Revenue) Source Type: Use Customer Category as the basis.
Click Save.
Priority 3: Default Revenue Account
Click Add Row to define Priority 3.
Set Priority Order as 3.
Define Condition:
Default Revenue Account = 4999 (for any other transactions)
Source Type: Use Constant Value.
Click Save.
Step 4: Validate and Assign the Account Rule
Click Validate to ensure the rule has no errors.
Navigate to Manage Journal Entry Rule Sets.
Locate the AHC Billing Journal Entry Rule Set.
Assign the newly created Revenue Account Rule to the appropriate Journal Line Rule (such as Revenue or Income).
Click Save and Close.
Step 5: Test the Account Rule
Go to Subledger Accounting > Accounting Entries.
Generate accounting for different transactions:
Customer Billing should derive Account 4000.
Wholesale Customer Billing should derive Account 4010.
Other transactions should derive Account 4999.
Review and confirm that the correct accounts are assigned.
A manual subledger journal did not reverse. What could be the reason for this?
- A. The next accounting period was future-enterable
- B. The Create Accrual Reversal Accounting process had run and completed with no errors
- C. The Reverse Accrual On field was left null
- D. The next accounting period was open
Correct Answer: C 🗳️
Your client has a requirement to report directly from transactional tables and return the results in real-time, thus eliminating the need for a data warehouse.
Which tool would you suggest to your client to achieve this?
- A. Oracle Transactional Business Intelligence
- B. Smart View
- C. Financial Reporting Studio
- D. Account Group
Correct Answer: A 🗳️
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