Exam Name: Oracle Cost Management Cloud 2018 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Inventory Management Cloud
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- Total Questions: 80
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Oracle 1Z1-1024 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Standard Costing | 15% | - Create and manage standard costs, resource rates, overhead rates - Analyze and resolve standard cost variances - Cost rollup and scenarios |
| Overview and Key Concepts | 15% | - Purpose of Cost Accounting, Receipt Accounting, and Landed Cost - Integration with other Oracle Cloud modules - Implementation decision points |
| Cost Accounting | 25% | - Perform daily cost accounting processes - Cost accounting reporting - Configure costing methods: Standard, Perpetual, Actual - Cost Accounting Work Area - Set up cost organizations, cost books, and profiles |
| Landed Cost Management | 15% | - Landed Cost Work Area - Manage daily landed cost operations - Configure charge names, routes, and reference types - Landed cost reporting |
| Subledger Accounting | 10% | - Subledger components and relationships - Create account rules, journal line rules, accounting methods - Troubleshoot accounting errors and exceptions |
| Receipt Accounting | 20% | - Receipt Accounting Work Area - Receipt accounting reporting and reconciliation - Configure accrual: Accrue on receipt, Accrue at period end - Execute receipt accounting transactions |
Oracle Cost Management Cloud 2018 Implementation Essentials Questions Answered by TestKingFree
- Overview and Key Concepts (15%)
- Receipt Accounting (20%)
- Landed Cost Management (15%)
Oracle Cost Management Cloud 2018 Implementation Essentials Sample Questions:
Which two rules determine whether a condition has been met for accounting rules?
- A. When the condition is met, the rule associated with that priority is used.
- B. Use parenthesis to control the order of the condition evaluation.
- C. After all conditions are tested, the final resulting value is used.
- D. The conditions are evaluated in the sequence they are defined in the accounting rule.
- E. Priorities determine the order in which accounting rule conditions are examined.
Correct Answer: A,D 🗳️
If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of Journal entry rule sets can be used?
- A. Rule sets where the accounting rules override the method rule set
- B. Rule sets that use the same chart of accounts
- C. Rule sets that have a mapping set to convert the accounts
- D. Rule sets assigned to a secondary ledger with a different COA
- E. Rule sets not associated with any chart of accounts
Correct Answer: A,D 🗳️
Which four predefined costing reports can you use to gather information to review inventory value?
- A. In-transit Valuation Report
- B. Work in Process Inventory Valuation Report
- C. Cost Accounting Valuation Report
- D. Inventory Valuation Report
- E. Layer Inventory Valuation Report
- F. Costing Account Balances Report
- G. COGS and Revenue Matching Report
Correct Answer: A,B,E,F 🗳️
Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?
- A. This requirement will already be met by the default data generated when using Quick Setup.
- B. You can only track costs for Direct Labor and Direct Equipment; this requirement cannot be met.
- C. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component task.
- D. Create the cost in Manage Cost Scenarios.
Correct Answer: B 🗳️
You can track costs at what granularity level in Cost Accounting for the actual costing method?
- A. Grade, Serial, Group, Lot
- B. Subinventory, Make, Lot, Serial
- C. Grade, Subinventory, Locator, Serial
- D. Subinventory, Lot, Serial, Locator
- E. Subinventory. Lot, Serial, Grade
Correct Answer: E 🗳️
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