[Apr 01, 2024] 100% Real & Accurate 1z0-1074-23 Questions with Free and Fast Updates
Self-Study Guide for Becoming an Oracle Cost Management Cloud 2023 Implementation Essentials Expert
NEW QUESTION # 11
Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?
- A. Uninvoiced Receipt Accrual Report
- B. Accrual Clearing Report
- C. Accrual Supplier Liability Report
- D. Receipt Accounting Real Time Report
- E. Accrual Reconciliation Report
Answer: E
Explanation:
https://docs.oracle.com/cloud/farel12/scmcs_gs/FAPMA/FAPMA2269725.htm#FAPMA2269725
NEW QUESTION # 12
Which two statements are true about Cost Accounting books? (Choose two.)
- A. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting.
- B. Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger.
- C. Every cost organization must use different book names; they cannot be shared.
- D. A cost organization has one book that posts to the primary ledger.
Answer: A,D
NEW QUESTION # 13
Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?
- A. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to Period End. - B. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
- C. Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
- D. Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
- E. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals
> Set Accrue Expense Items to At Receipt. - F. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
Answer: E,F
NEW QUESTION # 14
You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?
- A. Debit Expense, Credit Expense Accrual
- B. Debit Receiving Inspection, Credit Accrued Liability
- C. Debit Charge Account (expense or inventory), Credit Receiving Inspection
- D. Debit Accrued Liability, Credit Accounts Payable
- E. Debit Expense, Credit Receiving Inspection
Answer: C
NEW QUESTION # 15
You can track costs at what granularity level in Cost Accounting for the actual costing method?
- A. Subinventory, Lot, Serial, Locator
- B. Subinventory. Lot, Serial, Grade
- C. Subinventory, Make, Lot, Serial
- D. Grade, Subinventory, Locator, Serial
- E. Grade, Serial, Group, Lot
Answer: B
NEW QUESTION # 16
Identify four features provided by the Review Work Order Costs UI when displaying work order
- A. Scrap Costs
- B. Input Costs
- C. Standard Cost variances
- D. Output Costs
- E. Incremental Costs
- F. Variable Costs
Answer: A,B,C,D
NEW QUESTION # 17
You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?
- A. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
- B. It is only used when you do not need to maintain an arm's length relationship.
- C. It can help you with consolidated financial reporting.
- D. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
- E. It can help you understand true margins and value added by internal business units through the internal supply chain.
Answer: A,C,E
NEW QUESTION # 18
Identify two purposes of Sub ledger Accounting.
- A. to obtain detailed information for audit purposes since all sub ledger accounting is at the detail level
- B. to centralize accounting string generation across all modules
- C. to calculate costs for transactions
- D. to create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger
- E. to maintain backward compatibility
Answer: C,D
NEW QUESTION # 19
You are configuring Landed Cost Management for client proof of concept and only want to set up required tasks. Which task must be completed?
- A. Reference Types
- B. Charge Name
- C. Trade Operation Templates
- D. Routes
- E. Trade Operation
Answer: B
NEW QUESTION # 20
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. Closed
- B. Open
- C. Close Pending
- D. Never Opened
- E. Permanently Closed
Answer: A
NEW QUESTION # 21
Which statement is true regarding the cost cutoff date in Cost Accounting?
- A. Transactions with a transaction date after the cost cutoff date will not be processed. These transactions will never be processed in any subsequent cost processor run.
- B. Transactions with a transaction date after the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is later than the transaction date.
- C. It only affects whether or not you can process a cost adjustment.
- D. Transactions with a transaction date before the cost cutoff date will not be processed until the cost cutoff date is changed to a date that is before the transaction date.
Answer: B
NEW QUESTION # 22
Identify three Landed Cost Management tasks.
- A. Capture Charges
- B. Perform Allocations
- C. Review Journal Entries
- D. View Rolled Up Costs
- E. Manage Cost Scenarios
- F. Create Accounting
Answer: A,B,F
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/18b/faims/implementing-landed-cost-managem
NEW QUESTION # 23
In which two scenarios would you define account rules based on value sets?
- A. If a segment shares the same value set across multiple chart of accounts
- B. When a chart of accounts is assigned to the value set definition
- C. When there is a mapping set to convert the accounts
- D. In the absence of a chart of accounts on the accounting method
- E. When a secondary ledger has a different COA
Answer: A,C
NEW QUESTION # 24
Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain.
Which pair of tasks are required to define and associate routes in Landed Cost Management?
- A. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs
- B. Define the route in Functional Setup Manager and associate with Manage Charge Invoice Associations in Landed Costs
- C. Define the route In Cost and Profit Planning and associate with Trade Operations in Landed Costs
- D. Define the route in Cost and Profit Planning and associate with the Trade Operations Template in Landed Costs.
- E. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs.
Answer: A
NEW QUESTION # 25
Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error.
What must you do to meet your customer's requirement and resolve this error?
- A. Change the number of maximum open periods in Manage Cost Organization Relationships
- B. Run the Transfer Transactions to Costing process.
- C. Close the August period; you can never have two open periods at the same time.
- D. Perform cost account validations for August in Manage Cost Accounting Periods
Answer: A
NEW QUESTION # 26
After all relevant transactions are in Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger?
- A. Transfer to Sub ledger Accounting.
- B. Transfer transactions from receiving.
- C. Create distributions.
- D. Assign accruals to purchase order transactions.
- E. Transfer transactions from payables.
Answer: C
NEW QUESTION # 27
Your client has accounting rules that need specific customization. Which two options allow them to accomplish this? (Choose two)
- A. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
- B. Journal entry rule sets do not require accounting rules.
- C. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
- D. Use a different journal entry rule set for each ledger with a different accounting convention.
- E. Copy and rename predefined subledger journal entry rule sets before modifying them.
Answer: A,C
NEW QUESTION # 28
Which three features are included in Receipt Accounting?
- A. Review Journal Entries
- B. Create Receipt Accounting Distribution
- C. Adjust Receipt Accrual Clearing Balances
- D. Analyze Standard Purchase Cost Variances
- E. Review Item Costs
Answer: A,B,C
Explanation:
https://docs.oracle.com/en/cloud/saas/supply-chain-management/r13-update17d/faims/implementing-receipt-acco
NEW QUESTION # 29
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