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| Section | Objectives |
|---|---|
| Configuration and Setup | - Initial setup tasks
|
| Accounting Rules and Mapping | - Accounting rule definition
|
| Implementation and Administration | - Deployment and maintenance
|
| Reporting and Reconciliation | - Financial reporting outputs
|
| Data Integration and Processing | - Transaction processing
|
| Accounting Hub Cloud Overview | - Architecture and key components
|
'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?
Correct Answer: B 🗳️
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How do you calculate discounts for use in the accounting rule?
Correct Answer: A 🗳️
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?
Correct Answer: A 🗳️
Which transaction source is used to link transaction header and line information?
Correct Answer: A 🗳️
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?
Correct Answer: A 🗳️
Viewing page 1 out of 13 pages.
Viewing questions 1-5 out of 62 questions.
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Oracle Financials Cloud: Receivables 2022 Implementation Professional
Oracle Accounting Hub Cloud 2019 Implementation Essentials
Oracle Financials Cloud: General Ledger 2017 Implementation Essentials (1z1-960日本語版)
Oracle Financials Cloud: Payables 2022 Implementation Professional (1Z0-1055-22日本語版)
Oracle Accounting Hub Cloud 2021 Implementation Essentials
Oracle Financials Cloud: Receivables 2020 Implementation Essentials
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
Oracle Financials Cloud: Receivables 2019 Implementation Essentials (1z0-1056日本語版)
Oracle Financials Cloud: Payables 2023 Implementation Professional
Oracle Financials Cloud: General Ledger 2023 Implementation Professional
Oracle Accounting Hub Cloud 2020 Implementation Essentials
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