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1Z0-1024 Oracle Cost Management Cloud 2018 Implementation Essentials

February 11, 2019 by admin

Exam Title: Oracle Cost Management Cloud 2018 Implementation Essentials
Exam Number: 1Z0-1024
Exam Price: $245.00 More on exam pricing
Format: Multiple Choice
Duration: 120 Minutes
Number of Questions: 70
Passing Score: 59%
Validated Against: This exam has been validated against 18B. (Previous version of this exam was validated against R13, and originally R12 in 2017)

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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
Describe Landed Cost reporting
Manage Daily Landed Cost tasks

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

Explanation:

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
 

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