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1Z0-987 Oracle Cost Management Cloud 2017 Implementation Essentials

September 21, 2018 by admin

Exam Title: Oracle Cost Management Cloud 2017 Implementation Essentials
Exam Number: 1Z0-987
Exam Price: $245.00 More on exam pricing
Format: Multiple Choice
Duration: 120
Number of Questions: 70
Passing Score: 59%
Validated Against: This exam has been validated against R13. (Previous version of this exam was validated against R12 in 2017)

Our certification exams are revised regularly to align with training and product release updates. Information about exam revisions and new topics are found on this page under ‘Validated Statement’ and within the exam topics below. Certifications reflect validated skills for year and product release version date of achievement. If you are preparing for this exam, we recommend you check these topics periodically to ensure your exam prep covers any new topics that may be added based on regular exam revision.

Managerial Accounting Overview
Explain Cost Accounting and how it integrates with other modules
Describe the purpose of Cost Accounting, Receipt Accounting, and Landed Cost
Explain key implementation decision points

Cost Accounting Overview
Describe the Cost Accounting Work Area
Explain Cost Accounting
Configure Costing methods (Standard, Perpetual, and Actual)
Configure Cost Accounting Using Quick Setup and/or Manual Setup
Create Cost Accounting Key setups (Cost Org, Cost Book, Relationships, Elements, Components, Component Mappings, Valuation Structures, Cost Profiles, and Default Cost Profiles)
Explain the Role of Costing Key setups and Cost policies
Perform Cost Accounting processes
Describe Cost Accounting reporting
Manage Daily Cost Accounting tasks

Landed Cost Overview
Describe the Landed Cost Work Area
Explain Landed Cost
Configure Landed Cost Management
Manage Charge Names
Manage Landed Cost Reference types
Manage Routes

Receipt Accounting Overview
Describe the Receipt Accounting Work Area
Explain Receipt Accounting
Configure Accrue at period end
Configure Accrue on receipt
Perform Receipt Accounting processes
Describe Receipt Accounting reporting
Manage daily Receipt Accounting tasks

Standard Costs
Manage Cost scenarios
Create Standard Costs, Resource Rates, and Overhead Rates
Manage rolled up Costs
Analyze and resolve Standard Cost variances

Subledger Accounting
Explain the Receipt Accounting Subledger
Explain the Cost Accounting Subledger
Create Account Rules
Create Journal Line Rules
Create a Subledger Journal Entry Rule set
Create an Accounting Method
Explain the relationships of Subledger Components
Analyze and resolve errors and exceptions

Question: 1
Select the two valid relationships between subledger components.

A. The accounting method holds the accounting rules by Event Class and Event Type.
B. The journal lines hold the journal entry rule sets.
C. The accounting method groups journal entry rule sets by Event Class and Event Type.
D. Journal entry rules are used to hold accounting rules.
E. Journal entry rule sets hold journal rules and accounting rules.

Answer: DE

Question: 2
The process to map the AP invoices to the trade operation charges has completed. Which entity did the application use to do this?

A. Material Receipts
B. Charge Names
C. Reference Types
D. Routes
E. Trade Operation Template

Answer: A

Question: 3
If the Create Accounting process ends with errors or warnings, which three statements outline places
you can go to get more detailed information about the specific errors and warnings?

A. Query the transaction from Review Cost Accounting Distributions to see the error message.
B. Review errors in the Create Accounting Execution report.
C. Refer to the Accounting Event Diagnostic report.
D. Refer to the Accounting Event Diagnostic log.
E Review errors in the Create Accounting Execution log.

Answer: B

Question: 4
Which two types of costs are included in the cost of contract manufactured items?

A. The cost of Items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer
B. The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items
C. The cost of resources consumed at the OEM’s factory
D. The cost of the contract manufacturing service Item. This is the price that the contract
E. Manufacturer will charge to make the outputs and would normally be enough to cover their costs and include a fair profit.

Answer: A,B

Question: 5
Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

A. Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to “No”.
B. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
D. Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to “Yes”.
E. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
F. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.

Answer: C,F

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