START PREPARATION WITH ORACLE 1Z0-1060-24 EXAM DUMPS

Start Preparation with Oracle 1z0-1060-24 Exam Dumps

Start Preparation with Oracle 1z0-1060-24 Exam Dumps

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Oracle 1z0-1060-24 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Analyzing Transaction Type Lifecycle: This section measures the skills of Financial Analysts and focuses on analyzing and identifying the transaction lifecycle within source systems. It covers the stages from transaction initiation to completion, ensuring all aspects of the lifecycle are understood. A key skill measured is effectively mapping the transaction lifecycle.
Topic 2
  • Updating Registered Source System: This section measures the skills of Systems Administrators in updating accounting attribute assignments, sources, and event types within registered source systems. It includes ensuring that all updates align with organizational standards. A key skill measured is maintaining accurate system configurations.
Topic 3
  • Configuring Accounting Rules: This section targets Accounting Managers and focuses on managing various accounting rules such as intercompany journal lines, multiperiod journal entries, and accrual reversals. It emphasizes the importance of accurate rule configuration for financial accuracy. A critical skill assessed is configuring accounting rules effectively.
Topic 4
  • Describing Functional Setup Manager: This section targets Functional Analysts and explains the components of Functional Setup Manager used in configuring applications. It emphasizes understanding how to manage setups effectively within an organization. A critical skill assessed is explaining setup processes clearly.
Topic 5
  • Registering Source System and PaaS (ICS) Integration: This section focuses on Integration Specialists and covers managing transaction information, line information worksheets, and integrating source systems with PaaS (ICS). It emphasizes the importance of seamless data integration for accurate financial reporting. A significant skill assessed is managing integration processes effectively.
Topic 6
  • Analyzing and Creating Financial Reporting Structures and Ledgers: This section measures the skills of Financial Controllers in analyzing configuration requirements for legal entities, financial reporting structures, and ledgers. It includes understanding how to set up these structures to meet organizational needs. A key skill measured is designing effective financial reporting frameworks.
Topic 7
  • Accessing Accounting, Reporting, Audit, and Reconciliation Requirements: This section targets Accounting Professionals and analyzes the requirements for accounting, reporting, auditing, and reconciliation related to transaction types. It emphasizes understanding compliance and accuracy in financial reporting. A critical skill assessed is evaluating audit and reconciliation needs thoroughly.

Oracle Accounting Hub Cloud 2024 Implementation Professional Sample Questions (Q67-Q72):

NEW QUESTION # 67
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

Answer:

Explanation:
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.


NEW QUESTION # 68
You design an income statement report with the help of Financial Reporting Web 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])
  • B. ({3:5})
  • C. ([3:5])
  • D. ([3,5])

Answer: C


NEW QUESTION # 69
Apart from a mapping set-based account rule, which is the other way to retrieve segment values for journal entries?

  • A. Define an account rule with conditions
  • B. Define a chart of accounts rule with conditions
  • C. Define a flexfield rule with conditions
  • D. Define a lookup type rule with conditions

Answer: A


NEW QUESTION # 70
Which two options can you use to reconcile subledger journal entries with the source system?

  • A. Submit the Subledger Accounting Diagnostics report
  • B. Create and submit the Oracle Transactional BI Report to review supporting reference balances.
  • C. Tag supporting references with Journal Line Rules
  • D. Submit the Period Close Exception Report

Answer: A,D


NEW QUESTION # 71
Your company is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep in their source system. While analyzing their source transaction system, you are asked to propose an event model, based on the activities performed by the company.
According to your analysis, what should the Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep transactions be defined as while registering the source system?

  • A. Event classes
  • B. Event types
  • C. Journal sources
  • D. Source systems

Answer: B


NEW QUESTION # 72
......

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