You can use this Oracle 1Z0-1060-21 exam study guide to collect all the information about the Oracle Accounting Hub Cloud 2021 Implementation Essentials exam. The Oracle 1Z0-1060-21 certification exam is mainly targeted to those candidates who have some experience or exposure to Oracle Financials Cloud technology and want to flourish their career with Oracle Accounting Hub Cloud 2021 Certified Implementation Specialist (OCS) credential.
The Oracle 1Z0-1060-21 certification exam validates your understanding of the Oracle Financials Cloud technology and sets the stage for your future progression. Your preparation plan for Oracle Accounting Hub Cloud 2021 Implementation Essentials Certification exam should include hands-on practice or on-the-job experience performing the tasks described in following certification exam syllabus topics.
Oracle 1Z0-1060-21 Exam Details:
Exam Name Oracle Accounting Hub Cloud 2021 Implementation Essentials
Exam Code 1Z0-1060-21
Exam Price USD $245 (Pricing may vary by country or by localized currency)
Duration 90 minutes
Number of Questions 55
Passing Score 64%
Format Multiple Choice Questions (MCQ)
Oracle 1Z0-1060-21 Syllabus Topics:
Transaction type life cycle – Analyze and identify transaction life cycle
Accounting, reporting, audit, and reconciliation requirements – Analyze accounting, reporting, audit, and reconciliation requirements for accounting transactions: journal entries, accounts
– Analyze accounting, reporting, audit, and reconciliation requirements for reporting transactions: journal and line descriptions, reporting attributes
– Analyze accounting, reporting, audit, and reconciliation requirements for reconciliation transactions: reconciliation reference attribute
Modeling considerations – Analyze other modeling considerations: transaction type, consolidated vs separated subledger view, pass through, rule-based, primary ledger only, primary plus secondary ledger, legal entities
Analyze Accounting Rule Configuration – Analyze the accounting rule configuration: Journal entries, accounting method, chart of accounts, accounts derivation, intercompany
Register Source System and PaaS (ICS) integration – Manage Transaction Information and Line Information Worksheets and Transaction Objects
– Manage PaaS(ICS) Integration
Update Registered Source System – Update Registered Source System: accounting attribute assignments, sources, event types
Configure Accounting Rules – Manage Accounting Methods
– Manage Journal Entry Rule Sets
– Manage Journal Line Rules
– Manage Account Rules
– Manage Mapping Sets
– Manage Description Rules
– Manage Supporting References
– Manage User Defined Formula
– Manage Additional Components including Intercompany Journal Lines, Gain and Loss Journal Lines, Multiperiod Journal Entries, Accrual Reversals and Sequences
Transaction data and automation with web service – Upload transaction data, correct when there are errors, and perform automation with web service
Reporting and Period Close – Manage Reporting with OTBI
– Manage Reporting with Financial Reporting Web Studio
– Manage Reporting with BI Publisher
– Manage Reporting with Smart View
– Manage Account Groups
Adjust Journal Entries – Adjust journal entries: override, create manual adjustment entries
Diagnostics – Perform Subledger Accounting Diagnostics
Functional Setup Manager – Explain Functional Setup Manager Offerings, Functional Area and Features, Manage Setup Data, and Export and Import Setup Data
Security – Explain Users and Role Based Access Control
– Describe the Security Console
The Oracle Accounting Hub Cloud Implementation Essentials Certification Program certifies candidates on skills and knowledge related to Oracle Financials Cloud products and technologies. The Oracle 1Z0-1060-21 is granted based on a combination of passing exams, training, and performance-based assignments, depending on the level of certification. Oracle Accounting Hub Cloud 2021 Implementation Essentials certification is a real benchmark of experience and expertise that helps you stand out in a crowd among employers. To ensure success, Oracle recommends combining education courses, practice exams, and hands-on experience to prepare for your Oracle Accounting Hub Cloud 2021 Certified Implementation Specialist (OCS) certification exam as questions will test your ability to apply the knowledge you have gained in hands-on practice or professional experience.
QUESTION 1
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.
How do you calculate discounts for use in the accounting rule?
A. Use flexfield
B. Use custom formulas
C. Use mapping set rules
D. Use analytical calculations
Answer: B
QUESTION 2
There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on the entered amounts for the line.
What is the solution to implement this requirement?
A. define line description rule with condition
B. define journal line rules with conditions
C. define journal entry rule set with condition
D. define user transaction line identifier
Answer: A
QUESTION 3
What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?
A. Transaction objects
B. Event entities
C. Source objects
D. Mapping sets
Answer: A
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