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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Analyze Accounting, Reporting, Audit and Reconciliation Requirements | 20% | |
| Topic 2: Modeling Considerations | 10% | |
| Topic 3: Register and Update Source Systems | 15% | |
| Topic 4: Configure Accounting Rules | 20% | |
| Topic 5: Upload Transaction Data and Adjust Journal Entries | 10% | |
| Topic 6: Reporting, Auditing and Diagnostics | 10% | |
| Topic 7: Analyze Transaction Type Life Cycle | 15% |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
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 Transactional Business Intelligence analysis
- B. a Smart View Report
- C. an Oracle Financial Reporting Studio report
- D. a predefined Oracle Business Intelligence Publisher report
Correct Answer: A 🗳️
After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?
- A. Add new transaction sources from the user interface.
- B. Register another source system that includes these new transaction sources.
- C. Add new transaction sources in the current source system registration spreadsheet and re-upload the spreadsheet file.
- D. Tell them thiscannot be implemented.
Correct Answer: A 🗳️
'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" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
- B. "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
- C. "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1) - D. "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")
Correct Answer: B 🗳️
'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 ofindividual 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 for slicing and dicing the Journal entries.
Insurance premium is to be recognized as income across the-coverage period of the insurance policy. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?
- A. Multiperiod class
- B. Recurring Journal class
- C. Accounting class
- D. Recognition Journal class
Correct Answer: A 🗳️
Which two actions can you accomplish for a registered source system?
- A. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
- B. Modify the subledger application name as long as thereare no pending accounting entries.
- C. Revise source Information through the user interface and add more sources.
- D. Add new event classes through the user interface.
Correct Answer: A,C 🗳️
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