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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Accounting Hub Data Processing | - Event model and processing flow - Import and validation of transactions |
| Topic 2: Subledger Accounting and Rules | - Accounting rules definition - Mapping sets and conditions - Journal generation process |
| Topic 3: Setup and Configuration | - Implementation setup tasks - Configuration of accounting methods - Security and role configuration |
| Topic 4: Accounting Hub Cloud Overview | - Concepts and architecture of Accounting Hub Cloud - Key business benefits and use cases |
| Topic 5: Source Systems Integration | - Data ingestion and transformation - Integrating external source systems |
| Topic 6: Reporting and Reconciliation | - Reconciliation processes - Financial reporting outputs |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journalline?
- A. Assign a line classification or line type attribute.
- B. You do not need to do anything additional.
- C. Assign an accounting attribute.
- D. Assign a custom formula.
Correct Answer: A 🗳️
What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?
- A. Document Sequence
- B. Accounting Sequence
- C. Journal Entry Sequence
- D. Reporting Sequence
Correct Answer: B 🗳️
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 andloss 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 set up an account rule that is based on leased and owned trucks?
- A. Set up an account source in the source system file and derive the value.
- B. Set up a mapping set rule.
- C. Set up a lookup value.
- D. Set up a value set rule.
Correct Answer: B 🗳️
What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?
- A. transfer Balances to FAH Reporting Cloud Service
- B. provide real-time visibility to financial reports inFAH Reporting Cloud Service
- C. upload transaction data into FAH Reporting Cloud Service
- D. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
Correct Answer: D 🗳️
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. a predefined Oracle Business Intelligence Publisher report
- C. an Oracle Transactional Business Intelligence analysis
- D. a Smart View Report
Correct Answer: C 🗳️
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