Exam: 1Z0-1060-24
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Format: Hands-on Performance Based
Duration: 90 Minutes
Exam Price:
Number of Questions: Not Applicable
Passing Score: Challenges - 75% | Multiple choice - 68%
Validation: This exam has been validated against 23A/23B/23C/23D/24A/24B.
Policy: Cloud Recertification
Earn associated certifications
Passing this exam is required to earn these certifications. Select each
certification title below to view full requirements.
Oracle Accounting Hub Cloud 2024 Certified Implementation Professional
Prepare to pass exam: 1Z0-1060-24
The Oracle Accounting Hub 2024 Implementation Professional certification is
designed for SaaS Implementation Consultants and Users who implement Oracle
Financials Cloud, particularly Accounting Hub. Individuals who earn this
certification are skilled at and capable of analyzing
accounting/reporting/auditing and reconciliation requirements, evaluating
modeling considerations, registering source systems, and updating registered
source systems. This credential validates that the candidate can configure
accounting rules, upload transaction data, adjust subledger journal entries, and
perform diagnostics.
The Oracle Accounting Hub 2024 Implementation Professional certification is a
Hands-on Performance based exam comprising of hands-on challenges and multiple
choice questions. One needs to pass both sections individually to earn the
credential.
You must have a valid Oracle Accounting Hub Cloud Implementation Professional
Certification exam credential in order to take this Delta exam. If your
credential has expired you can get up to date by successfully completing the
qualifying Delta exam for free. If you are not eligible to take the Delta exam,
you will need to take the Oracle Accounting Hub Cloud 2024 Implementation
Professional Certification exam.
Check the Oracle Recertification Policy to see if you qualify.
Take recommended training
Complete one of the courses below to prepare for your exam (optional):
Become a Certified Financials - Accounting Hub Implementer
Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs
and/or field experience), in the learning subscription, provides the best
preparation for passing the exam.
Review exam topics
Analyzing Transaction Type Lifecycle
Analyze and identify the transaction life cycle in the source system
Accessing Accounting, Reporting, Audit, and Reconciliation Requirements
Analyze Accounting, Reporting, Audit, and Reconciliation requirements for
Transaction Types
Analyzing and Creating Financial Reporting Structures and Ledgers
Analyze configuration requirements related to Legal Entities, Financial
Reporting Structures, and Ledgers
Registering Source System and PaaS (ICS) Integration
Manage Transaction Information and Line Information Worksheets and
Transaction Objects
Manage PaaS(ICS) Integration
Updating Registered Source System
Update accounting attribute assignments, sources, and event types
Configuring Accounting Rules
Manage Intercompany Journal Lines, Gain and Loss Journal Lines, Multiperiod
Journal Entries, Accrual Reversals, and Sequences
Manage Accounting Methods
Manage Journal Entry Rule Sets
Manage Journal Line Rules
Manage Account Rules
Manage Mapping Sets
Manage Description Rules
Manage Supporting References
Manage User Defined Formula
Automating Transaction Data with Web Service
Load data from spreadsheets or automatic options and manage exceptions
Using Financial Managing Reporting and Period Close
Manage Financial Reporting with OTBI
Manage Financial Reporting with Financial Reporting Web Studio
Manage Financial Reporting with BI Publisher
Manage Financial Reporting with Smart View
Manage Account Groups
Adjusting Journal Entries
Create subledger journals including overrides and adjustments
Describing Functional Setup Manager
Explain the various components of Functional Setup Manager
Describing Security
Explain Users and Role Based Access Control
Describe the Security Console
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QUESTION 1
You are designing an income statement report with the help of Financial
Reporting Studio. You add
row numbers 3, 4, and 5 to reflect the balances for three different expense
accounts and row number
6 to reflect the sum of row numbers 3, 4, and 5.
Which formula should be used on row number 6 to calculate the sum?
A. [3;5][3;5][3;5]
B. [3,5][3,5][3,5]
C. 3:5{3:5}3:5
D. [3:5][3:5][3:5]
Answer: D
QUESTION 2
Your client, a banking organization, is currently using different
transaction systems for different types
of loans including vehicle loans, personal loans, education loans, and housing
loans. You recently
uploaded the source system data that includes Loan Origination, Loan Interest
Accrual, Loan
Scheduled Payment, Loan Interest Adjusted, Loan Late Payment, and Loan Charge
off as event types.
The customer now asks you to add another transaction type called Loan Interest
Accrual Reversal.
What should be your response to the customer?
A. Loan Interest Accrual Reversal can be added as a new event type by using the
update spreadsheet template
B. The source system should be registered again by including the Loan Interest
Accrual Reversal event type
C. A new transaction type cannot be added after the source system is registered
D. Loan Interest Accrual Reversal can be added as a new event type from the user
interface
Answer: D
Explanation:
QUESTION 3
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 only required if a secondary ledger has a
different chart of accounts than its primary ledger
B. Conversion levels available for a secondary ledger are Balance, Journal,
Adjustment only, and Subledger
C. A chart of accounts mapping is always required between the chart of accounts
of the primary ledger and the secondary ledger
D. Conversion levels available for a secondary ledger are Balance, Journal, and
Subledger only
Answer: A, B
Explanation:
QUESTION 4
Your customer needs to generate journal entries for the insurance premium
collected from the sale
of policies. The different components of the premium collected by the company
include Basic
Premium and Tax. You decide to set up three separate journal line rules to
account for Basic
Premium, Tax Amount, and Total Amount.
Which attribute in a journal line rule allows you to classify these three
journal entry lines?
A. Accounting Class
B. Business Flow Class
C. Event Class
D. Rounding Class
Answer: C
Explanation:
QUESTION 5
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.
How many event classes will be generated by the system while registering the
source system?
A. Four
B. Two
C. One
D. Three
Answer: C
Explanation:
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