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Oracle 1z0-1074-23 Exam Syllabus Topics:

SectionObjectives
Inventory Costing Configuration- Cost Structures and Cost Elements
  • 1. Configure cost elements and cost components
  • 2. Define cost profiles
  • 3. Manage valuation units
Cost Accounting- Cost Processing
  • 1. Configure cost accounting distributions
  • 2. Review accounting entries and cost adjustments
  • 3. Manage transaction costing
Manufacturing Cost Management- Production Costing
  • 1. Analyze resource and overhead costs
  • 2. Manage work order costing
  • 3. Process manufacturing cost transactions
Troubleshooting and Analysis- Diagnostics and Exception Handling
  • 1. Analyze transaction processing issues
  • 2. Review costing errors and exceptions
  • 3. Resolve accounting and valuation discrepancies
Cost Management Foundations- Cost Management Architecture
  • 1. Define inventory valuation structures
  • 2. Configure cost organizations and cost books
  • 3. Understand Oracle Cost Management Cloud concepts
Receipt and Acquisition Costing- Procurement Costing
  • 1. Analyze landed cost impacts
  • 2. Process acquisition costs
  • 3. Manage purchase order receipt costing
Cost Period Close and Reporting- Period-End Activities
  • 1. Generate cost management reports
  • 2. Execute cost accounting period close
  • 3. Reconcile inventory and accounting balances

Oracle Cost Management Cloud 2023 Implementation Essentials Sample Questions:

1. In which two scenarios would you define account rules based on value sets?

A) In the absence of a chart of accounts on the accounting method
B) When a chart of accounts is assigned to the value set definition
C) If a segment shares the same value set across multiple chart of accounts
D) When there is a mapping set to convert the accounts
E) When a secondary ledger has a different COA


2. If the accounting method does not have an assigned chart of accounts (COA), which option is valid?

A) The accounting method may only be used by ledgers without a COA.
B) Any secondary ledger that uses the method cannot have a COA.
C) The accounting method can be assigned to any ledger.
D) The accounting method must have a mapping set to convert the accounts.
E) Accounting rules cannot override the accounting method.


3. You can track costs at what granularity level in Cost Accounting for the actual costing method?

A) Subinventory, Lot, Serial, Locator
B) Grade, Subinventory, Locator, Serial
C) Subinventory, Make, Lot, Serial
D) Grade, Serial, Group, Lot
E) Subinventory. Lot, Serial, Grade


4. Identify the four types of cost adjustments.

A) Authorized users can manually create cost adjustments.
B) A standard cost update will create an inventory value adjustment.
C) A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
D) A change to a requisition after the purchase order has been created will create a cost adjustment.
E) A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
F) When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchaseorder.


5. What are three cost method choices that are available in Cost Accounting?

A) Actual cost (LIFO or Last In First Out)
B) Periodic average cost
C) Perpetual average cost
D) Period end average cost
E) Actual cost (FIFO or First In First Out)
F) Standard cost


Solutions:

Question # 1
Answer: C,D
Question # 2
Answer: C
Question # 3
Answer: E
Question # 4
Answer: B,C,E,F
Question # 5
Answer: A,C,E

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