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Oracle 1z0-1060-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Analyzing and Creating Financial Reporting Structures and Ledgers: This section measures the skills of Financial Controllers in analyzing configuration requirements for legal entities, financial reporting structures, and ledgers. It includes understanding how to set up these structures to meet organizational needs. A key skill measured is designing effective financial reporting frameworks.

Topic 2

Updating Registered Source System: This section measures the skills of Systems Administrators in updating accounting attribute assignments, sources, and event types within registered source systems. It includes ensuring that all updates align with organizational standards. A key skill measured is maintaining accurate system configurations.

Topic 3

Describing Security: This section measures the skills of Security Administrators in explaining users and role-based access control within financial systems. It covers the security console's functionality to manage user permissions effectively. A key skill measured is implementing robust security measures for system access control.

Topic 4

Analyzing Transaction Type Lifecycle: This section measures the skills of Financial Analysts and focuses on analyzing and identifying the transaction lifecycle within source systems. It covers the stages from transaction initiation to completion, ensuring all aspects of the lifecycle are understood. A key skill measured is effectively mapping the transaction lifecycle.

Topic 5

Configuring Accounting Rules: This section targets Accounting Managers and focuses on managing various accounting rules such as intercompany journal lines, multiperiod journal entries, and accrual reversals. It emphasizes the importance of accurate rule configuration for financial accuracy. A critical skill assessed is configuring accounting rules effectively.

Topic 6

Adjusting Journal Entries: This section measures the skills of Accountants in creating sub-ledger journals that include overrides and adjustments as necessary. It covers techniques for ensuring journal entries reflect true financial positions. A key skill measured is accurately adjusting journal entries to maintain integrity.

Topic 7

Registering Source System and PaaS (ICS) Integration: This section focuses on Integration Specialists and covers managing transaction information, line information worksheets, and integrating source systems with PaaS (ICS). It emphasizes the importance of seamless data integration for accurate financial reporting. A significant skill assessed is managing integration processes effectively.

Topic 8

Accessing Accounting, Reporting, Audit, and Reconciliation Requirements: This section targets Accounting Professionals and analyzes the requirements for accounting, reporting, auditing, and reconciliation related to transaction types. It emphasizes understanding compliance and accuracy in financial reporting. A critical skill assessed is evaluating audit and reconciliation needs thoroughly.

Topic 9

Automating Transaction Data with Web Service: This section measures the skills of Data Analysts in automating transaction data loading from spreadsheets or other sources while managing exceptions. It covers techniques for improving data entry efficiency.

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Oracle Accounting Hub Cloud 2024 Implementation Professional Sample Questions (Q28-Q33):

NEW QUESTION # 28
SIMULATION
Challenge 4: Manage Description Rule
TASK
Create Description Rule
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

Answer:

Explanation:
See the Explanation below for all the solution
Explanation:
Step-by-Step Guide to Create a Description Rule in Oracle Fusion
Step 1: Navigate to Manage Description Rules
Log in to Oracle Fusion with appropriate privileges for configuring Subledger Accounting.
Go to Setup and Maintenance.
In the Functional Setup Manager (FSM), navigate to:
Financials
Subledger Accounting
Manage Description Rules.
Step 2: Create a New Description Rule
Click Create to define a new Description Rule.
Enter the following details:
Name: AHC Billing Description Rule
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement Description: Enter a meaningful description, such as:
"Auto-generated description for AHC Billing transactions."
Click Save, then proceed to define the logic.
Step 3: Define the Description Rule Logic
Under Conditions, define a formula using transaction attributes to generate meaningful descriptions dynamically.
Click Add Condition, then define the description using placeholders.
Example formula:
'Transaction Type: ' || {Transaction Type} || ', Customer: ' || {Customer Name} || ', Amount: ' || {Transaction Amount} This rule constructs a description dynamically, showing:
Transaction Type
Customer Name
Transaction Amount
Example Output:
"Transaction Type: Customer Billing, Customer: John Doe, Amount: $500"
Click Validate to ensure there are no syntax errors.
Step 4: Assign the Description Rule
Navigate to Manage Journal Entry Rule Sets.
Locate the AHC Billing Journal Entry Rule Set.
Assign the newly created Description Rule to the appropriate Journal Line Rule.
Click Save and Close.
Step 5: Validate and Deploy the Rule
Click Validate to check for errors.
Deploy the rule by submitting the changes.
Ensure the rule is attached to the AHC Billing journal entries.
Step 6: Test the Description Rule
Navigate to Subledger Accounting > Accounting Entries.
Generate accounting for different test transactions.
Verify that the journal entry descriptions match the expected format.

NEW QUESTION # 29
You design an income statement report with the help of Financial Reporting Web Studio. You add row numbers 3, 4, and 5 to reflect the balances for three different expense accounts and row number 6 to reflect the sum of row numbers 3, 4, and 5.
Which formula should be used on row number 6 to calculate the sum?

A. ({3:5})
B. ([3:5])
C. ([3,5])
D. ([3;5])

Answer: B

NEW QUESTION # 30
Your client organization deals in providing loans to its customers. You are appointed as a consultant to implement Oracle Fusion Cloud Accounting Hub to standardize the accounting process. Your client has a requirement to retrieve the segment values for the debit and credit side of journal entries based on different criteri a. You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as the input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which two options allow the validation of input values on mapping sets?

A. Lookup types
B. Segment values
C. Chart of accounts segment
D. Value sets

Answer: A,D

NEW QUESTION # 31
Your client decides to implement Accounting Hub along with other Oracle-owned subledgers. They want to know about the predefined accounting methods that Oracle provides.
Which of the following THREE are predefined accounting methods?

A. Standard Accrual for China
B. Standard Accrual
C. Standard Accrual with Encumbrances
D. Standard Accrual for USA
E. Standard Accrual for Japan

Answer: A,B,C

NEW QUESTION # 32
What is NOT included in the minimum required accounting attribute assignments?

A. Second Distribution Identifier
B. Accounting Date
C. First Distribution Identifier
D. Distribution Type

Answer: A

NEW QUESTION # 33
......

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