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Oracle 1Z0-1060-21 Exam Syllabus Topics:

Oracle Accounting Hub Cloud 2021 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 ofindividual 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) Recognition Journal class
B) Recurring Journal class
C) Accounting class
D) Multiperiod class

2. A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General LedgerJournal Entry Summarization options meets this requirement?

A) Summarize by GL Period
B) Group by GL Date
C) Summarize by GL Date
D) Transfer in Details

3. What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A) synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
B) transfer Balances to FAH Reporting Cloud Service
C) upload transaction data into FAH Reporting Cloud Service
D) provide real-time visibility to financial reports inFAH Reporting Cloud Service

4. 'Insurances for Homes' company provide home insuranceservice. 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 premiumIs 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) Deferral and Recognition
B) Multiperiod and Recognition
C) Offsets and Recognition
D) Reversal and Recognition

5. A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?

A) Build a new data warehouse solution.
B) Request support team to download subledger Journal entry data.
C) Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
D) Run predefined reports and filter the report with the available report parameters.

Solutions: