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Reliable 1Z0-1059-24 Study Notes, Latest 1Z0-1059-24 Exam Practice

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Oracle 1Z0-1059-24 Exam Syllabus Topics:

Topic
Details

Topic 1

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.

Topic 2

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 3

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 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

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.

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Oracle Revenue Management Cloud Service 2024 Implementation Professional Sample Questions (Q45-Q50):

NEW QUESTION # 45
What is a Performance Obligation?

A. a promise to a customer on which either party has acted
B. a promise to a customer
C. a product code or SKU
D. a combination of customer type and product code

Answer: B

Explanation:
https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP2456627

NEW QUESTION # 46
In Revenue Management the Selling Amount and Allocated Amount may be different. How does Revenue Management account for this difference?

A. It Tracks the difference in a Write-Off Allocation Account at the contract line level.
B. It tracks the difference in a Discount Allocation Account at the contract line level.
C. It tracks the difference In a Discount Allocation Account at the contract level.
D. It tracks the difference in a Write-off Allocation Account at the contract level.

Answer: B

NEW QUESTION # 47
A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?

A. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.
B. Ignore the performance obligation for the toaster because it was free of cost to the customer.
C. Define an adhoc rule in the Revenue Price Profile to include the toaster.
D. Create the performance obligation for the toaster manually.

Answer: A

NEW QUESTION # 48
The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and Pending Revenue Recognition.
What would cause a contract to be In the Pending Review tab?

A. The contract is missing Billing data.
B. The total Transaction Price is over the user-defined threshold amount.
C. The contract is missing satisfaction events.
D. The contract is missing standalone selling prices at the promised detail level or at obligation level.

Answer: B

Explanation:
Accounting contracts with a total transaction price that is greater than the user-defined threshold amount you defined in your system options. Contracts in this list are significant value contracts.

NEW QUESTION # 49
Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?

A. your invoiced goods and services less those goods and services that you have not yet delivered
B. Unearned Revenue
C. your debt to customers for goods and services you are obliged to deliver to them by either party acting
D. your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered

Answer: C

NEW QUESTION # 50
......

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Julian Thomas Julian Thomas

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