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Oracle 1Z0-1060-20 Exam Syllabus Topics:

SectionWeightObjectives
Accounting Rules Configuration30%- Supporting references and accounting methods
- Account rules and mapping sets
- Event model and event classes/types
- Description and journal line rules
Accounting Hub Overview10%- Architecture and core concepts
- Business benefits and use cases
- Subledger Accounting (SLA) overview
Source System Integration20%- Register source systems
- File-based data import and mapping
- Define transaction objects and attributes
Transaction Processing15%- Create Accounting process
- Transaction validation and error handling
- Transfer to General Ledger
Reporting and Inquiry15%- Accounting Hub reports and dashboards
- Reconciliation and diagnostics
- Journal inquiry and drill-down
Implementation and Security10%- Troubleshooting and best practices
- Role-based access control
- Implementation lifecycle

Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?

  • A. Set the "SLA: Diagnostics Enabled" profile option.
  • B. Run Create Accounting again to generate journal entries for the events that ended in error.
  • C. Submit the Accounting Event Diagnostics process.
  • D. Run the Accounting Events Diagnostic Report.
Answer: A

What is NOT included in the minimum required accounting attribute assignments?

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

The new billing source system has been registered into Accounting Hub Cloud. The subledger is in active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?

  • A. Add this as a new transaction type into existing registered subledger from the user interface.
  • B. Register it as a new source system.
  • C. Add this as a new transaction typo into existing subledger registration spreadsheet template.
  • D. Change the transaction data file.
Answer: A,B

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.
What wil the typical transaction information be at the header level?

  • A. Customer Number
  • B. Line Type
  • C. Amount
  • D. Currency
Answer: A

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 line classification or line type attribute.
  • D. Assign a custom formula.
Answer: C

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