Exam Name: Oracle Accounting Hub Cloud 2020 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Source System Integration | 20% | - File-based data import and mapping - Register source systems - Define transaction objects and attributes |
| Topic 2: Implementation and Security | 10% | - Role-based access control - Troubleshooting and best practices - Implementation lifecycle |
| Topic 3: Reporting and Inquiry | 15% | - Accounting Hub reports and dashboards - Reconciliation and diagnostics - Journal inquiry and drill-down |
| Topic 4: Accounting Hub Overview | 10% | - Architecture and core concepts - Subledger Accounting (SLA) overview - Business benefits and use cases |
| Topic 5: 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 |
| Topic 6: Transaction Processing | 15% | - Transfer to General Ledger - Transaction validation and error handling - Create Accounting process |
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
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 ledger
- D. One primary, one repotting currency ledger
Correct Answer: C 🗳️
A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accounting rules to be shared?
- A. One subledger for all 4 source systems.
- B. One subledger for the 3 Loan systems and one subledger for Insurance.
- C. One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
- D. One subledger for each source system.
Correct Answer: A,B 🗳️
What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?
- A. ERP Integration Service
- B. Oracle Virtual Web Center Services
- C. Oracle UCM Web Services
- D. Oracle Web Center Content Client Command line tool
Correct Answer: B 🗳️
What is the recommended approach for a use case in which some parts of the transaction data must be processed before uploading them to Accounting Hub Cloud?
- A. Use a web service tool.
- B. Use Oracle ERP Integration tool.
- C. Use Oracle OTBI tool.
- D. Use PaaS tools, for example, ICS - to perform ETL tasks.
Correct Answer: D 🗳️
How do you enable diagnostics on subledger transaction sources?
- A. enable diagnostic profile
- B. enable diagnostic attribute
- C. enable transaction debug
- D. enable diagnostic source
Correct Answer: A 🗳️
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