Exam Name: Oracle Cost Management Cloud 2023 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Cost Management Cloud
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Oracle 1z0-1074-23 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Landed Cost Management | 10% | - Manage charges and routes - Overview and configuration |
| Managerial Accounting Overview | 15% | - Identify key implementation decisions - Explain cost accounting and integration |
| Project Enabled Supply Chain | 5% | - Configuration overview - Project work order costing |
| Subledger Accounting | 10% | - Accounting methods and exceptions - Account rules and journal setups |
| Cost Accounting | 25% | - Costing methods: standard, perpetual, actual - Setup: organizations, books, elements - Processing and daily tasks |
| Receipt Accounting | 20% | - Overview and work area - Processes and reporting - Configure accrual options |
| Standard Costs | 15% | - Analyze variances - Manage scenarios and rates - Create and roll up costs |
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
What are three cost method choices that are available in Cost Accounting?
- A. Period end average cost
- B. Actual cost (FIFO or First In First Out)
- C. Perpetual average cost
- D. Standard cost
- E. Periodic average cost
- F. Actual cost (LIFO or Last In First Out)
Correct Answer: B,C,F 🗳️
There are freight charges on an invoice. Which two setups are required to get create accounting to enter a separate accounting line for it?
- A. Account Class must be set to Freight.
- B. Create a condition for a journal line for freight.
- C. Line Type must be set to Freight.
- D. Sub ledger accounting is set up to accomplish this out-of-the-box.
Correct Answer: A,C 🗳️
Identify three characteristics of cost component to cost element mapping.
- A. You can only define one cost component to cost element mapping for an installation.
- B. It is user-defined.
- C. It lets you define how cost component level costs will map into cost elements.
- D. It is one of the attributes you define as part of your cost profile definitions.
- E. You cannot modify, duplicate, or create user-defined cost components.
Correct Answer: B,C,D 🗳️
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Identify two ways that standard cost is calculated.
- A. Users must manually enter the cost of each configured item; the calculation is not automated.
- B. The cost of a configured item is calculated based on the work definition of the model item.
- C. The standard cost is the sum of the cost of the selected option items.
- D. The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
- E. The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
Correct Answer: C,D 🗳️
You are verifying your distributions for your transactions. You Just ran the receipt accounting distribution process. However, your purchase order receipt is not showing up.
What do you need to do for your receipt to show up?
- A. Run the Transactions from Procurement to Costing process.
- B. Run the Clear Receipt Accrual Balances process.
- C. Run the Transactions from Receiving to Costing process.
- D. Run the Create Accounting process.
- E. Run the Transfer Costs from Payables to Cost Management process.
Correct Answer: C 🗳️
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