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2025 1z0-1060-24 Test Sample Questions | High-quality 100% Free New Oracle Accounting Hub Cloud 2024 Implementation Professional Test Online

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Oracle 1z0-1060-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Configuring Accounting Rules: This section targets Accounting Managers and focuses on managing various accounting rules such as intercompany journal lines, multiperiod journal entries, and accrual reversals. It emphasizes the importance of accurate rule configuration for financial accuracy. A critical skill assessed is configuring accounting rules effectively.

Topic 2

Analyzing Transaction Type Lifecycle: This section measures the skills of Financial Analysts and focuses on analyzing and identifying the transaction lifecycle within source systems. It covers the stages from transaction initiation to completion, ensuring all aspects of the lifecycle are understood. A key skill measured is effectively mapping the transaction lifecycle.

Topic 3

Accessing Accounting, Reporting, Audit, and Reconciliation Requirements: This section targets Accounting Professionals and analyzes the requirements for accounting, reporting, auditing, and reconciliation related to transaction types. It emphasizes understanding compliance and accuracy in financial reporting. A critical skill assessed is evaluating audit and reconciliation needs thoroughly.

Topic 4

Registering Source System and PaaS (ICS) Integration: This section focuses on Integration Specialists and covers managing transaction information, line information worksheets, and integrating source systems with PaaS (ICS). It emphasizes the importance of seamless data integration for accurate financial reporting. A significant skill assessed is managing integration processes effectively.

Topic 5

Updating Registered Source System: This section measures the skills of Systems Administrators in updating accounting attribute assignments, sources, and event types within registered source systems. It includes ensuring that all updates align with organizational standards. A key skill measured is maintaining accurate system configurations.

Topic 6

Describing Functional Setup Manager: This section targets Functional Analysts and explains the components of Functional Setup Manager used in configuring applications. It emphasizes understanding how to manage setups effectively within an organization. A critical skill assessed is explaining setup processes clearly.

Topic 7

Adjusting Journal Entries: This section measures the skills of Accountants in creating sub-ledger journals that include overrides and adjustments as necessary. It covers techniques for ensuring journal entries reflect true financial positions. A key skill measured is accurately adjusting journal entries to maintain integrity.

Topic 8

Automating Transaction Data with Web Service: This section measures the skills of Data Analysts in automating transaction data loading from spreadsheets or other sources while managing exceptions. It covers techniques for improving data entry efficiency.

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Oracle Accounting Hub Cloud 2024 Implementation Professional Sample Questions (Q54-Q59):

NEW QUESTION # 54
Your client provides loans to their customers. You are appointed as a consultant to implement Accounting Hub Cloud and standardize the accounting process. Your client wants to retrieve the segment values for the debit and credit side of journal entries based on different criteria.
Which FOUR value types should you use in the definition of your account rules to generate journal entries as per the customer's requirement?

A. Value set
B. Constant
C. Source
D. Account combination
E. Account rule
F. Mapping set

Answer: B,C,E,F

NEW QUESTION # 55
Which two actions can you accomplish for a registered source system?

A. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet
B. Modify the subledger application name as long as there are no pending accounting entries
C. Revise source Information through the user interface and add more sources
D. Add new event classes through the user interface

Answer: A,C

NEW QUESTION # 56
Your client, a banking organization, has operations in the USA, the UK, France, Japan, and Singapore. As an implementation consultant, you ask the project team to maintain a global chart of accounts. However, the management team in the UK does not agree to allow the generation of dynamic code combinations for the chart of accounts values.
What solution would you propose to address this scenario?

A. Define two charts of accounts structures. Enable dynamic inserts for the first structure and disable it for the second one. Assign the first structure to the USA, France, Japan, and Singapore ledgers and the second structure to the UK ledger.
B. Define one chart of accounts structure and enable dynamic inserts for the USA, France, Japan, and Singapore at the ledger options level, but disable it for the UK ledger
C. Define one chart of accounts structure and disable dynamic inserts for the UK ledger by using the "Allow Dynamic Inserts" profile option
D. Define two chart of accounts structure instances. Enable dynamic inserts for the first structure instance and disable it for the second one. Assign the first chart of accounts structure instance to the USA, France, Japan, and Singapore ledgers and the second chart of accounts structure instance to the UK ledger.

Answer: C

NEW QUESTION # 57
The Insurance for Homes company provides home insurance services in the USA, the UK, France, and Italy. It is headquartered in the USA.
The entities in the UK, France, and Italy are subsidiaries of the USA entity.
The company decides to configure four primary ledgers, one each for the USA, the UK, France, and Italy. It also plans to configure three secondary ledgers under the UK, France, and Italy primary ledgers.
Which TWO statements are true about setting up secondary ledgers?

A. A chart of accounts mapping is always required between the chart of accounts of the primary ledger and the secondary ledger
B. Conversion levels available for a secondary ledger are Balance, Journal, and Subledger only
C. A chart of accounts mapping is only required if a secondary ledger has a different chart of accounts than its primary ledger
D. Conversion levels available for a secondary ledger are Balance, Journal, Adjustment only, and Subledger

Answer: C,D

NEW QUESTION # 58
The company 'Insurance for Homes' provides home insurance services. It has an in-house system that processes home insurance payments received from customers. The end result of the process consists of a list of individual journal entries in a spreadsheet. The company wants to get all journal entries in a secure and auditable repository. Access will be limited to a select few staff members. Additionally, these staff members will need to be able to report and view the entries using an advanced reporting and analytical tool for slicing and dicing the journal entries.
Insurance premium is to be recognized as income across the coverage period of the insurance policy.
Which types of journal lines 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. Multiperiod and Recognition

Answer: B

NEW QUESTION # 59
......

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