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Oracle 1Z0-1060-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Setup and Configuration | - Configuration of accounting methods - Security and role configuration - Implementation setup tasks |
| Accounting Hub Cloud Overview | - Concepts and architecture of Accounting Hub Cloud - Key business benefits and use cases |
| Accounting Hub Data Processing | - Import and validation of transactions - Event model and processing flow |
| Subledger Accounting and Rules | - Mapping sets and conditions - Journal generation process - Accounting rules definition |
| Reporting and Reconciliation | - Financial reporting outputs - Reconciliation processes |
| Source Systems Integration | - Integrating external source systems - Data ingestion and transformation |
Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:
In the process of analyzing data from a source system you find that there are no reliable amounts that canbe used to build a subledger journal entry.
How can you resolve this challenge?
- A. Use a custom formula in a journal line rule to derive amounts.
- B. Use a custom formula in an account rule to derive amounts.
- C. Use a custom formula in a supporting reference to derive amounts.
- D. Use a custom formula in a description rule to derive amounts.
Correct Answer: A 🗳️
What is the recommended approach for a use case in which some parts of the transaction data must be processed before uploading them to Accounting Hub Cloud?
- A. Use PaaS tools, for example, ICS - to perform ETL tasks.
- B. Use Oracle OTBI tool.
- C. Use Oracle ERP Integration tool.
- D. Use a web service tool.
Correct Answer: A 🗳️
Which four options are used to reconcile subledger journal entries?
- A. Run the Subledger Accounting Method Setups report.
- B. Tag supporting references with journal entry lines.
- C. Build a custom OTBIreport.
- D. Run the Subledger Accounting Diagnostics report.
- E. Set up reconciliation using the reconciliation reference accounting attribute.
- F. Assign a descriptive text and source on journal lines.
Correct Answer: B,C,E,F 🗳️
'Insurances for Homes' company provide home insuranceservice. 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 for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?
- A. Multiperiod and Recognition
- B. Reversal and Recognition
- C. Deferral and Recognition
- D. Offsets and Recognition
Correct Answer: C 🗳️
What is the required date format used to import accounting transactions to Accounting Hub Cloud?
- A. YYYY-MM-DD
- B. The user can customize the date format
- C. DD-MON-YYYY
- D. MM-DD-YYYY
Correct Answer: A 🗳️







