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 | Objectives |
|---|---|
| Topic 1: Setup and Configuration | - Inventory valuation setup - Cost organization and cost profiles setup - Costing methods configuration |
| Topic 2: Reporting and Analysis | - Cost reconciliation and audit - Cost analysis reports |
| Topic 3: Inventory and Work Order Costing | - Inventory transactions costing - Manufacturing and work order costing |
| Topic 4: Cost Management Cloud Overview | - Key business processes and architecture - Integration with Oracle SCM Cloud |
| Topic 5: Cost Accounting and Processing | - Cost calculation processes - Period close and cost rollup - Cost accounting distributions |
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
Identify three Landed Cost Management tasks.
- A. Manage Cost Scenarios
- B. View Rolled Up Costs
- C. Create Accounting
- D. Review Journal Entries
- E. Capture Charges
- F. Perform Allocations
Correct Answer: C,E,F 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Identify two characteristics of an expense pool. (Choose two.)
- A. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- B. You can define the name of your expense pool, but you cannot define more than one.
- C. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
- D. It is used only for analyzing gross margins on noninventory sales of services.
Correct Answer: A,C 🗳️
An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?
- A. Turn on the Subledger Gain or Loss Option.
- B. Create a secondary ledger to track gain/loss.
- C. Create a foreign reporting currency to track gain/loss.
- D. Subledger Accounting is already set up to process it.
Correct Answer: A 🗳️
Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?
- A. Legal Entity and Cost Organization
- B. Business Unit and Inventory Organization
- C. Business Unit and Legal Entity
- D. Inventory Organization and Legal Entity
- E. Business Unit and Cost Organization
- F. Inventory Organization and Cost Organization
Correct Answer: B 🗳️
A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently.
Which cost period status will allow the system to perform the transaction?
- A. Never Opened
- B. Close Pending
- C. Open
- D. Closed
- E. Permanently Closed
Correct Answer: D 🗳️
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