Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Transaction Processing | 15% | - Transfer to General Ledger - Create Accounting process - Transaction validation and error handling |
| Implementation and Security | 10% | - Role-based access control - Troubleshooting and best practices - Implementation lifecycle |
| Accounting Hub Overview | 10% | - Subledger Accounting (SLA) overview - Business benefits and use cases - Architecture and core concepts |
| Source System Integration | 20% | - File-based data import and mapping - Register source systems - Define transaction objects and attributes |
| Reporting and Inquiry | 15% | - Accounting Hub reports and dashboards - Journal inquiry and drill-down - Reconciliation and diagnostics |
| Accounting Rules Configuration | 30% | - Event model and event classes/types - Account rules and mapping sets - Description and journal line rules - Supporting references and accounting methods |
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journal line?
- A. You do not need to do anything additional.
- B. Assign a line classification or line type attribute.
- C. Assign a custom formula.
- D. Assign an accounting attribute.
Correct Answer: B π³οΈ
You are explaining to an accountant that account override is an adjustment feature of Subledger Accounting.
Which two traits can help you explain this feature?
- A. The account override feature is only intended to correct subledger journals that have been posted.
- B. The account override feature provides an audit trail by preserving the original subledger journal entry.
- C. The account override feature adjusts the original source transaction.
- D. The account override feature allows users to record a reason for the adjustment.
Correct Answer: B,D π³οΈ
What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?
- A. upload transaction data into FAH Reporting Cloud Service
- B. synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
- C. transfer Balances to FAH Reporting Cloud Service
- D. provide real-time visibility to financial reports in FAH Reporting Cloud Service
Correct Answer: B π³οΈ
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, In some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the Internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?
- A. Two primary ledgers
- B. One primary, one secondary ledger
- C. One primary, one repotting currency ledger
- D. One primary ledger
Correct Answer: D π³οΈ
Which three duty roles are required to perform Accounting Hub setup tasks?
- A. Accounting Hub Integration
- B. Subledger Accounting Manager
- C. Application Implementation Consultant
- D. Accounting Hub Maintenance
- E. Accounting Hub Administration
Correct Answer: A,C,E π³οΈ
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