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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Accounting Hub Cloud Overview | - Key business benefits and use cases - Concepts and architecture of Accounting Hub Cloud |
| Reporting and Reconciliation | - Reconciliation processes - Financial reporting outputs |
| Setup and Configuration | - Configuration of accounting methods - Implementation setup tasks - Security and role configuration |
| Subledger Accounting and Rules | - Accounting rules definition - Journal generation process - Mapping sets and conditions |
| Accounting Hub Data Processing | - Import and validation of transactions - Event model and processing flow |
| Source Systems Integration | - Integrating external source systems - Data ingestion and transformation |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
What wil the typical transaction information be at the header level?
- A. Currency
- B. LineType
- C. Customer Number
- D. Amount
Correct Answer: C 🗳️
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
- A. Add this as a new transaction typo into existing subledger registration spreadsheet template.
- B. Change the transaction data file.
- C. Add this as a new transaction type into existing registered subledger from the user interface.
- D. Register it as a new source system.
Correct Answer: C,D 🗳️
Which three are mandatory transaction source information?
- A. Transaction Number
- B. Transaction Line
- C. Distribution Link
- D. Ledger Name
- E. Transaction Date
Correct Answer: A,D,E 🗳️
What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?
- A. Journal Entry Sequence
- B. Document Sequence
- C. Reporting Sequence
- D. Accounting Sequence
Correct Answer: D 🗳️
What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?
- A. Event entities
- B. Transaction objects
- C. Mapping sets
- D. Source objects
Correct Answer: B 🗳️
