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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Accounting Hub Data Processing | - Event model and processing flow - Import and validation of transactions |
| Setup and Configuration | - Implementation setup tasks - Configuration of accounting methods - Security and role configuration |
| Subledger Accounting and Rules | - Mapping sets and conditions - Journal generation process - Accounting rules definition |
| Source Systems Integration | - Data ingestion and transformation - Integrating external source systems |
| Reporting and Reconciliation | - Financial reporting outputs - Reconciliation processes |
| Accounting Hub Cloud Overview | - Key business benefits and use cases - Concepts and architecture of Accounting Hub Cloud |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
1. 'Insurances for Homes' company provide home insurance service. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools forslicing and dicing the Journal entries.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between twodates.
A) "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
B) "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1)
C) "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
D) "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
2. Which transaction source is used to link transaction header and line information?
A) Transaction Type
B) Transaction Key
C) Transaction Number
D) Transaction Date
3. A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.
How can you meet this requirement?
A) Use either Account Monitor or Account Inspector to getrequired Information.
B) Build an OTBI analysis that includes a relevant subject area.
C) Build a Financial Reporting Studio report that includes all dimensions.
D) Create a Smart View report using the query designer feature.
4. After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?
A) an Oracle Financial Reporting Studio report
B) an Oracle Transactional Business Intelligence analysis
C) a Smart View Report
D) a predefined Oracle Business Intelligence Publisher report
5. 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 sourcecode 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) Usecustom formulas
B) Use flexfield
C) Use analytical calculations
D) Use mapping set rules
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: A |



