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1Z0-1060-24 Oracle Accounting Hub Cloud 2024 Implementation Professional

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Oracle · 1Z0-1060-24

Free 1Z0-1060-24 Exam Dumps Preview

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Question 1

Single choice

You are implementing Accounting Hub Cloud for one of your clients. Your client has agreed to have six segments for the chart of accounts: Company, Line of Business, Account, Department, Product, and Intercompany.

For one of the journal line rules, your client requests you to assign a common account rule for Company, Line of Business, Account, and Intercompany. However, for Department and Product, they want to use segment-specific rules.

How will you achieve this while setting up the journal entry rule set?

A
Assign Common Account Rule in the Account Combination rule field and assign Department and
Product segment rules in the segment rules section
B
Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method
C
Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the supporting references
D
Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while assigning the accounting method to the ledger

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Correct answerA

Question 2

Multiple choice

Which three duty roles are required to perform Accounting Hub setup tasks?

A
Accounting Hub Administration
B
Subledger Accounting Manager
C
Accounting Hub Integration
D
Application Implementation Consultant
E
Accounting Hub Maintenance

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Correct answersB, C, D

Question 3

Multiple choice

Which two options can you use to reconcile subledger journal entries with the source system?

A
Create and submit the Oracle Transactional BI Report to review supporting reference balances.
B
Submit the Period Close Exception Report
C
Submit the Subledger Accounting Diagnostics report
D
Tag supporting references with Journal Line Rules

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Correct answersB, C

Question 4

Single choice

Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They have decided to implement Accounting Hub to import the transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask you to provide your suggestion on sharing accounting rules for these external systems.

Which implementation setup allows the sharing of accounting rules for all four external systems?

A
One subledger for all four source systems
B
Four subledgers, one for each source system
C
Two subledgers, one for home loan and auto loan and another for consumer loan and personal loan
D
Three subledgers, one for home loan and auto loan, the second for consumer loan, and the third for personal loan

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Correct answerA

Question 5

Multiple choice

Your client has operations in the US and the UK, and they currently use a third-party billing system to process their transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. As part of the Accounting Hub implementation, you have been asked to register the billing source system.

While registering the source system using the spreadsheet template, which TWO could be flagged as errors by the validation check process?

A
You cannot add more than 30 sources when the Journal Display column is enabled
B
You cannot add more than 10 sources when the Journal Display column is enabled
C
The event type name cannot exceed 30 characters
D
The event type name cannot exceed 25 characters

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Correct answersB, D

Question 6

Single choice

Which transaction source is used to link transaction header and line information?

A
Transaction Type
B
Transaction Date
C
Transaction Number
D
Transaction Key

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Correct answerC

Question 7

Single choice

Apart from a mapping set-based account rule, which is the other way to retrieve segment values for journal entries?

A
Define a chart of accounts rule with conditions
B
Define a lookup type rule with conditions
C
Define an account rule with conditions
D
Define a flexfield rule with conditions

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Correct answerC

Question 8

Multiple choice

You are trying to explain to an accountant that account override is an adjustment feature of Subledger Accounting.

Which TWO traits can help you further explain this feature?

A
It allows users to record a reason for the adjustment
B
It adjusts the original source transaction
C
It provides an audit trail by preserving the original subledger journal entry
D
It is intended to correct only the subledger journals that have been posted

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Correct answersA, C

Question 9

Multiple choice

Your client is involved in the sale of health, vehicle, and home insurance services. Currently, they process their transactions in a source system. You have been appointed as a consultant to implement Accounting
Hub Cloud and standardize their accounting process. You decide to register their source system as a single application in Accounting Hub Cloud. Your customer wants to know the changes that are allowed after registering a source system.

Which THREE actions can be performed after registering a source system?

A
Modify the subledger application name as long as there are no pending accounting entries
B
Assign and update value set and lookup type assignments to sources
C
Revise source names and add more sources through the user interface
D
Assign a named segment from the chart of accounts to the sources that correspond to the accounting flexfield identifiers
E
Add new event classes through the user interface

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Correct answersB, C, E

Question 10

Multiple choice

Your client decides to implement Accounting Hub along with other Oracle-owned subledgers. They want to know about the predefined accounting methods that Oracle provides.

Which of the following THREE are predefined accounting methods?

A
Standard Accrual for USA
B
Standard Accrual for Japan
C
Standard Accrual with Encumbrances
D
Standard Accrual
E
Standard Accrual for China

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Correct answersC, D, E

Question 11

Single choice

Your customer wants to be alerted to changes in the balances of their key General Ledger accounts on a regular basis and asks your advice on the best reporting option.

Which reporting tool would you suggest?

A
Oracle Transactional Business Intelligence
B
Account Groups and Sunburst
C
Financial Reporting Studio
D
Smart View

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Correct answerB

Question 12

Lab simulation

Simulation

Challenge 4: Manage Description Rule

TASK

Create Description Rule
Subledger Application: AHC Billing
Process Category: AHC Billing
Event Class: AHC Billing
Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

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Task: Create Description Rule

Navigate to Manage Description Rules
Go to: Setup and Maintenance → Task: Manage Description Rules → Create

Rule Header Name: AHC Billing Description
Application: AHC Billing
Chart of Accounts: (select appropriate COA)
Description: optional
Event Class: AHC Billing
Event Types: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

Rule Details
Click "Add" to define description components
Use sources such as:
- Transaction Number
- Customer Name
- Event Type
- Invoice Number

Example Format:
"AHC Billing - [Event Type] - [Transaction Number] - [Customer Name]"

Use concatenation or fixed text with sources as needed

Save and Close
Deploy if required and validate descriptions on accounting entries

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Oracle Accounting Hub Cloud 2024 Implementation Professional

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