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Oracle 1Z0-1060-20 Exam Overview:
| Certification Vendor: | Oracle |
| Exam Name: | Oracle Accounting Hub Cloud 2020 Implementation Essentials |
| Exam Number: | 1Z0-1060-20 |
| Real Exam Qty: | 55-62 |
| Certificate Validity Period: | 18 months |
| Related Certifications: | Oracle Financials Cloud Oracle Fusion Cloud Accounting Hub |
| Exam Price: | USD 245 |
| Exam Format: | Multiple Choice, Multiple Response |
| Exam Duration: | 105 minutes |
| Passing Score: | 63% |
| Available Languages: | English, Japanese |
| Recommended Training: | Oracle Accounting Hub Cloud Implementation Training |
| Exam Registration: | Oracle University Pearson VUE |
| Sample Questions: | Oracle 1Z0-1060-20 Sample Questions |
| Exam Way: | Online proctored or onsite at Pearson VUE test centers |
| Pre Condition: | No mandatory prerequisites; hands-on experience recommended |
| Official Syllabus URL: | https://education.oracle.com/ |
Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Reporting and Inquiry | 15% | - Journal inquiry and drill-down - Accounting Hub reports and dashboards - Reconciliation and diagnostics |
| Implementation and Security | 10% | - Implementation lifecycle - Troubleshooting and best practices - Role-based access control |
| Transaction Processing | 15% | - Transaction validation and error handling - Create Accounting process - Transfer to General Ledger |
| Source System Integration | 20% | - File-based data import and mapping - Register source systems - Define transaction objects and attributes |
| Accounting Rules Configuration | 30% | - Supporting references and accounting methods - Event model and event classes/types - Description and journal line rules - Account rules and mapping sets |
| Accounting Hub Overview | 10% | - Architecture and core concepts - Business benefits and use cases - Subledger Accounting (SLA) overview |
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
1. What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?
A) Accounting Hub Create and Post Journal Entry Duty Role
B) Accounting Hub Import Duty Role
C) Accounting Hub Create Accounting Duty Role
D) Accounting Hub Integration Duty Role
2. 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
3. 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 an accounting attribute.
C) Assign a custom formula.
D) Assign a line classification or line type attribute.
4. Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
A) Manage Subledger Accounting Options
B) Manage Reporting Currencies
C) Specify Ledger Options
D) Manage Accounting Attribute Assignments
5. To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
A) Conversion type
B) Conversion date and conversion rate
C) Conversion type, conversion date and conversion rate
D) Conversion type and conversion date
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |
By Eve
