PDF Version DemoOracle 1Z0-1060-20 Exam Overview:
| Certification Vendor: | Oracle |
| Exam Name: | Oracle Accounting Hub Cloud 2020 Implementation Essentials |
| Exam Number: | 1Z0-1060-20 |
| Available Languages: | English |
| Related Certifications: | Oracle Accounting Hub Cloud 2020 Certified Implementation Specialist |
| Exam Format: | Multiple Choice, Multiple Answer |
| Exam Duration: | 120 minutes |
| Exam Price: | USD $245 |
| Real Exam Qty: | 55 |
| Passing Score: | 68% |
| Sample Questions: | Oracle 1Z0-1060-20 Sample Questions |
| Exam Way: | Pearson VUE testing center or Oracle online proctored exam |
| Pre Condition: | No mandatory prerequisite exam. Oracle recommends experience with Oracle Financials Cloud, Subledger Accounting, and accounting/business process implementation projects. |
| Official Syllabus URL: | https://education.oracle.com/oracle-accounting-hub-cloud-2020-implementation-essentials/pexam_1Z0-1060-20 |
Oracle 1Z0-1060-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accounting Hub Overview | 10% | - Accounting Hub Fundamentals
|
| Topic 2: Accounting Rules and Configuration | 30% | - Subledger Accounting Configuration
|
| Topic 3: Implementation and Security | 10% | - Administration and Security
|
| Topic 4: Reporting and Inquiry | 15% | - Reporting Capabilities
|
| Topic 5: Transaction Processing | 15% | - Accounting Processing
|
| Topic 6: Source System Integration | 20% | - Transaction Data Integration
|
Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
1. 'Insurances for Homes' company provide home insurance service. They have in-house built system that processes home 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, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premium Is to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?
A) Reversal and Recognition
B) Deferral and Recognition
C) Offsets and Recognition
D) Multiperiod and Recognition
2. 'Insurances for Homes' company provide home insurance service. They have in house built system that processes home 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, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the Journal entries.
Insurance premium is to be recognized as income across the-coverage period of the insurance policy. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?
A) Accounting class
B) Multiperiod class
C) Recurring Journal class
D) Recognition Journal class
3. Which two actions can you accomplish for a registered source system?
A) Revise source Information through the user interface and add more sources.
B) Add new event classes through the user interface.
C) Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
D) Modify the subledger application name as long as there are no pending accounting entries.
4. 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 the Open Account Balances Listing report that has balances by customer.
B) Use the Third Party Control Account feature.
C) Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
D) Use Supporting References to capture customer classification information.
5. How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?
A) One
B) Unlimited
C) Two
D) Three
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: A,C | Question # 4 Answer: D | Question # 5 Answer: A |
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