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Oracle 1Z1-1024 exam is designed around the Oracle Cost Management Cloud technology that builds industry-specific cost models. Oracle Cost Management Cloud 2018 Implementation Essentials certification exam focuses on the practical implementation of Oracle Cost Management Cloud 2018 solution, Cost Accounting, and Analytics. Moreover, the exam aims to validate individual skills regarding how to manage costs, gather information and produce reports in the Oracle Cloud environment.
Oracle 1Z1-1024 certification exam consists of multiple-choice questions that query the candidate's understanding of various aspects of Oracle Cost Management Cloud, such as its architecture and components, understanding of various financial entities such as ledgers, liabilities, assets, and the like. Additionally, the exam requires candidates to have a good understanding of cost accounting process flows, such as invoicing, receipt accounting, and period-end accruals. Also, participants will be tested on their understanding of the security features and different accounts available within a multi-org environment.
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Oracle 1Z1-1024 exam is an important certification for professionals in the field of Oracle Cost Management Cloud implementation. With the certification, individuals can demonstrate their expertise in the solution and increase their career opportunities in this growing field.
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Oracle 1Z1-1024 or Oracle Cost Management Cloud 2018 Implementation Essentials Certification Exam is designed for professionals who want to be recognized for their expertise in the implementation of Oracle Cost Management Cloud. 1Z1-1024 exam is intended to test their knowledge and skills in various areas such as defining cost organizational structures, defining costing methods and policies, setting up settlement regions, configuring and maintaining cost accounting structures, and designing and implementing cost allocation.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Overview and Key Concepts | 15% | - Integration with other Oracle Cloud modules - Implementation decision points - Purpose of Cost Accounting, Receipt Accounting, and Landed Cost |
| Topic 2: Standard Costing | 15% | - Cost rollup and scenarios - Create and manage standard costs, resource rates, overhead rates - Analyze and resolve standard cost variances |
| Topic 3: Subledger Accounting | 10% | - Subledger components and relationships - Troubleshoot accounting errors and exceptions - Create account rules, journal line rules, accounting methods |
| Topic 4: Receipt Accounting | 20% | - Execute receipt accounting transactions - Configure accrual: Accrue on receipt, Accrue at period end - Receipt Accounting Work Area - Receipt accounting reporting and reconciliation |
| Topic 5: Landed Cost Management | 15% | - Configure charge names, routes, and reference types - Landed cost reporting - Manage daily landed cost operations - Landed Cost Work Area |
| Topic 6: Cost Accounting | 25% | - Configure costing methods: Standard, Perpetual, Actual - Set up cost organizations, cost books, and profiles - Cost accounting reporting - Perform daily cost accounting processes - Cost Accounting Work Area |
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