UPDATED 1Z0-1059-24 DEMO & 1Z0-1059-24 EXAM FORMAT

Updated 1Z0-1059-24 Demo & 1Z0-1059-24 Exam Format

Updated 1Z0-1059-24 Demo & 1Z0-1059-24 Exam Format

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Oracle 1Z0-1059-24 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Managing Revenue Contracts: This section measures the skills of Contract Managers and ERP Specialists in handling customer contracts, performance obligations, and contract maintenance. It also covers loading data into the application using FBDI templates, processing customer contract source documents, analyzing accounting entries, and navigating the Revenue Management user interface.
Topic 2
  • Revenue Management Overview: This section of the exam measures the skills of Revenue Analysts and Financial Consultants in understanding key revenue principles, including the new revenue recognition guidance under ASC 606 and IFRS 15. It also covers the integration of Oracle Revenue Management with other financial systems to ensure seamless operations.
Topic 3
  • Using Revenue Management Reporting: This section evaluates the expertise of Business Intelligence Analysts and Reporting Specialists in creating OTBI reporting objects and understanding Oracle-delivered reports. It focuses on leveraging reporting tools to analyze revenue data and support decision-making processes.
Topic 4
  • Configuring Revenue Management: This section evaluates the expertise of Implementation Specialists and System Administrators in setting up the Oracle Revenue Management application. It focuses on configuring system parameters and ensuring that the application aligns with business requirements for effective revenue management.
Topic 5
  • Configuring and Managing Standalone Selling Prices: This domain tests the knowledge of Pricing Analysts and Revenue Managers in managing standalone selling prices and related configurations. It includes setting up pricing models and ensuring compliance with revenue recognition standards.

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Oracle Revenue Management Cloud Service 2024 Implementation Professional Sample Questions (Q20-Q25):

NEW QUESTION # 20
A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals, allocations, and creates accounting in the ledger currency.
What needs to be done in Revenue Management to convert transaction amounts to the USD currency?

  • A. Create source document types specifically for Euro documents.
  • B. Populate Conversion Rate Type in System Options.
  • C. Populate exchange rates in Revenue Price Profile.
  • D. Create revenue prices in the Euro currency.

Answer: B

Explanation:
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define-revenue-management.html#FAFRM2371348


NEW QUESTION # 21
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

  • A. You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.
  • B. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
  • C. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
  • D. You value the accrual at estimated consideration and it is a monetary debt.
  • E. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

Answer: A


NEW QUESTION # 22
Before uploading Estimated Standalone Selling Prices (SSP), you must populate a spreadsheet with some required data.
Besides Unit SSP Price, Currency and Unit of Measure, which three additional attributes are required when loading prices for items, memo lines and/or Item groups?

  • A. Item Identifier
  • B. SSP Type
  • C. Performance Obligation Template
  • D. Pricing Dimension
  • E. Reason
  • F. Tolerance ranges

Answer: B,D,F


NEW QUESTION # 23
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

  • A. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
  • B. Revenue and performance obligation liabilities are not dependent on billing.
  • C. Expected consideration value is applicable to all industries.
  • D. Pricing estimates cannot be used In the absence of pricing data.

Answer: C,D


NEW QUESTION # 24
Which method is used to allocate total transaction price across performance obligations in Revenue Management?

  • A. Residual Allocation Method
  • B. Alternative Allocation Method
  • C. Relative Allocation Method
  • D. Two Step Allocation Method
  • E. Inverted Allocation Method

Answer: D


NEW QUESTION # 25
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