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 | Weight | Objectives |
|---|---|---|
| Topic 1: Standard Costs | 15% | - Analyze variances - Manage scenarios and rates - Create and roll up costs |
| Topic 2: Managerial Accounting Overview | 15% | - Identify key implementation decisions - Explain cost accounting and integration |
| Topic 3: Cost Accounting | 25% | - Setup: organizations, books, elements - Processing and daily tasks - Costing methods: standard, perpetual, actual |
| Topic 4: Subledger Accounting | 10% | - Account rules and journal setups - Accounting methods and exceptions |
| Topic 5: Receipt Accounting | 20% | - Processes and reporting - Overview and work area - Configure accrual options |
| Topic 6: Project Enabled Supply Chain | 5% | - Project work order costing - Configuration overview |
| Topic 7: Landed Cost Management | 10% | - Manage charges and routes - Overview and configuration |
Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:
Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.)
- A. Layer Inventory Valuation Report
- B. Work in Process Inventory Valuation Report
- C. Costing Account Balances Report
- D. Inventory Valuation Report
- E. Cost Accounting Valuation Report
- F. In-transit Valuation Report
- G. COGS and Revenue Matching Report
Correct Answer: A,C,D,F 🗳️
Trade events for physical shipments are interfaced into the Cost Accounting subledger from which module?
- A. Order Management
- B. Purchasing
- C. Financial Orchestration
- D. Inventory
- E. Shipping
Correct Answer: C 🗳️
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 understand true margins and value added by internal business units through the internal supply chain.
- D. It can help you with consolidated financial reporting.
- E. 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.
Correct Answer: A,C,D 🗳️
Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?
- A. Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
- B. Review their audit receipt accrual clearing balances.
- C. Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
- D. Review their Receipt Accounting processes that show whether any processes failed and why.
- E. Review their accrual balances and clear them.
Correct Answer: A,E 🗳️
Identify two characteristics of an expense pool. (Choose two.)
- A. You can define the name of your expense pool, but you cannot define more than one.
- B. It is used only for analyzing gross margins on noninventory sales of services.
- C. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
- D. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
Correct Answer: C,D 🗳️
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