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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accounting Rules Configuration | 30% | - Event model and event classes/types - Description and journal line rules - Account rules and mapping sets - Supporting references and accounting methods |
| Topic 2: Accounting Hub Overview | 10% | - Business benefits and use cases - Architecture and core concepts - Subledger Accounting (SLA) overview |
| Topic 3: Transaction Processing | 15% | - Create Accounting process - Transaction validation and error handling - Transfer to General Ledger |
| Topic 4: Implementation and Security | 10% | - Troubleshooting and best practices - Role-based access control - Implementation lifecycle |
| Topic 5: Reporting and Inquiry | 15% | - Journal inquiry and drill-down - Accounting Hub reports and dashboards - Reconciliation and diagnostics |
| Topic 6: Source System Integration | 20% | - File-based data import and mapping - Register source systems - Define transaction objects and attributes |
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
1. 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.
How do you calculate discounts for use in the accounting rule?
A) Use mapping set rules
B) Use analytical calculations
C) Use custom formulas
D) Use flexfield
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.
What wil the typical transaction information be at the header level?
A) Currency
B) Amount
C) Line Type
D) Customer Number
3. You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information.
You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?
A) Use Supporting References to capture customer classification information.
B) Use the Open Account Balances Listing report that has balances by customer.
C) Use the Third Party Control Account feature.
D) Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
4. What is the key attribute that is used to query journal entries of a registered source system?
A) Ledger Name
B) Accounting Date
C) Transaction Date
D) Journal Source
5. Which four options are used to reconcile subledger journal entries?
A) Set up reconciliation using the reconciliation reference accounting attribute.
B) Tag supporting references with journal entry lines.
C) Assign a descriptive text and source on journal lines.
D) Run the Subledger Accounting Method Setups report.
E) Run the Subledger Accounting Diagnostics report.
F) Build a custom OTBI report.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: A,B,C,F |







