Free PDF Quiz Oracle - Professional Free 1Z0-1055-24 Practice

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Oracle 1Z0-1055-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Using Reporting and Managing Period Close: This section measures the understanding of Financial Analysts in utilizing reporting tools and managing period-end activities1. It includes explaining Oracle Transactional Business Intelligence (OTBI), using Business Intelligence Publisher (BIP) Reports, using the Payables to Ledger Reconciliation Report, and explaining the close process1. These skills are essential for monitoring financial performance and ensuring accurate period-end closing.
Topic 2	Processing Expenses: This section evaluates the capabilities of Auditors in managing expense-related tasks156. It covers entering expense reports, managing expense approvals, processing expense reimbursements, managing corporate cards, auditing expense reports, and setting up expenses within the system. These skills ensure compliance with expense policies and accurate reimbursement processes.
Topic 3	Processing Payments: This section assesses the skills of Process Owners and focuses on creating and processing payments, along with explaining bank reconciliations within Oracle Financials Cloud156. Proficiency in these areas ensures accurate and timely payment processing, along with reconciliation for financial accuracy.
Topic 4	Managing Payables Invoices: This section measures the skills of Accounts Payable Administrators and explains invoice imaging and recognition solutions, creating and accounting for invoices, and managing suppliers within Oracle Financials Cloud156. These skills are fundamental for efficiently handling invoice processing and supplier relationships.

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Oracle Financials Cloud: Payables 2024 Implementation Professional Sample Questions (Q18-Q23):

NEW QUESTION # 18
Adaptive Intelligence (AI), integrated with Oracle Payables Cloud, supports sophisticated data science that drives early payment discount offers.
Which of these is NOT a feature of early payment discounts?

A. Eligible discounts decrease on a sliding scale based on the supplier's discretion.
B. The earlier the payment, the greater the discount.
C. Variable annual percentage rate (APR), based on "days paid early," is used to determine the discount amount.

Answer: A

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Oracle Payables Cloud, enhanced with Adaptive Intelligence (AI), offers a feature known as Early Payment Discounts. This functionality enables organizations to optimize their cash flow by taking advantage of discounts offered for early invoice payments.
Key Features of Early Payment Discounts:
Variable Annual Percentage Rate (APR) Based on "Days Paid Early" (Option B):
Therefore, Option A is not a feature of the early payment discounts as implemented in Oracle Payables Cloud with Adaptive Intelligence.
Reference:
The Earlier the Payment, the Greater the Discount (Option C):
Clarification of Option A:
Eligible Discounts Decrease on a Sliding Scale Based on the Supplier's Discretion:
Early Payment Discounts
Early Payment Discount Offers
Once enrolled, a supplier discount is set and applies to all payments indefinitely, until supplier unsubscribes.

NEW QUESTION # 19
An installment for $2,000 USD is due for payment on July 31, 2022. The installment has two discounts: the first discount date is June 15, 2022 for $150 USD and the second discount date is June 30, 2022 for $50 USD.
You submit a Payment Process Request with the following criteria:
Payment Date = June 20, 2022
Pay Through Date = July 30, 2022
Date Basis = Due Date
What will be the resulting status of the installment and discount?

A. The installment is selected and a discount of $150 USD is applied.
B. The installment is not selected because the discount dates are before the Pay Through Date.
C. The installment is selected and no discount is applied.
D. The installment is not selected because the due date is after the Pay Through Date.
E. The installment is selected and a discount of $50 USD is applied.

Answer: D

NEW QUESTION # 20
Which two tools can you use to build layouts for BI Publisher reports?

A. BI Answers
B. Report Developer
C. Layout Editor
D. BI Composer
E. Template Builder for Word

Answer: B,C

NEW QUESTION # 21
MANAGE POLICIES BY EXPENSE CATEGORY
The US1 Business Unit has an expense policy on meals that allows an employee to claim 30 USD per day for an evening meal, regardless of their role and location.

Answer:

Explanation:
See the Explanation for Step-by-Step Solution.
Explanation:
Step-by-Step Solution: Configuring Expense Policies by Expense Category in Oracle Financials Cloud To implement the expense policy for meals in Oracle Financials Cloud, follow these steps:
Step 1: Navigate to the Expense Policies Setup
* Log in to Oracle Financials Cloud with the appropriate Expense Manager or Financial Administrator role.
* Go to the Setup and Maintenance work area.
* Select Manage Policies by Expense Category (Task Name: Manage Expense Policies by Expense Category).
* Select the US1 Business Unit to ensure the policy applies to the correct entity.
Step 2: Create or Update the Meal Expense Category
* Under Manage Policies by Expense Category, locate or create the Meals Expense Category.
* If the Meals category does not exist:
* Click Create Expense Category.
* Enter Category Name: "Meals".
* Category Type: "Meals and Entertainment".
* Save the entry.
Step 3: Define Expense Limits for Evening Meals
* Select the Meals Expense Category and click Edit.
* Navigate to the Policies and Limits tab.
* Under Amount Limits, click Add New Rule.
* Description: "Evening Meal Limit".
* Limit Type: "Maximum Allowed Amount".
* Limit Amount: Enter 30 USD.
* Per: Select Day.
* Apply to All Employees (since this applies regardless of role and location).
* Location-Based Rules: Leave blank since it applies universally.
* Click Save and Close.
Step 4: Enable and Activate the Policy
* Ensure the policy is enabled by selecting the checkbox for Active.
* Click Submit to finalize the configuration.
* Run the "Validate and Deploy Expense Policies" process to apply changes.
Step 5: Testing the Policy
* Simulate an Expense Report Submission:
* Have an employee create a new expense report.
* Select Meals as the expense category.
* Enter an evening meal expense of 35 USD (which exceeds the policy limit).
* Verify if a policy violation warning appears, restricting the claim to 30 USD.
* Submit an expense of 30 USD and ensure no policy violation occurs.
Expected Outcome:
* Employees can claim up to 30 USD per day for an evening meal.
* Any claim above 30 USD triggers a policy violation warning.
* The rule applies to all employees regardless of role and location.
Conclusion
By following the above steps, you successfully configure an expense policy for meals that limits evening meal claims to 30 USD per day. This ensures compliance with the company's expense management guidelines while streamlining the expense approval process in Oracle Financials Cloud.

NEW QUESTION # 22
Which three are valid reasons why you cannot close your Payables period?

A. Suppliers on payment holds
B. Bills payable requiring maturity
C. Incomplete payment files
D. Unaccounted invoices and payments
E. Unapplied prepayments

Answer: B,C,D

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Closing a Payables period in Oracle Financials Cloud requires that all transactions for the period are fully processed and accounted for. The system enforces certain checks to ensure data integrity and accurate financial reporting. The following are valid reasons that can prevent the closure of a Payables period:
* Incomplete Payment Files (Option B):
* Explanation: Payment files that have been initiated but not completed will prevent period closure. All payment processes must be finalized to ensure that all disbursements are accurately recorded.
Reference: Considerations for Closing a Payables Period
Bills Payable Requiring Maturity (Option C):
Explanation: Bills payable that have not yet reached their maturity date or have not been accounted for will block the period from closing. It's essential to update the status of all bills payable to reflect their maturity and ensure they are accounted for in the correct period.
Reference: Payables Period Close Exceptions Report
Unaccounted Invoices and Payments (Option D):
Explanation: Invoices and payments that have been entered but not yet accounted for will prevent period closure. All such transactions must be fully processed and posted to the general ledger to ensure financial statements are accurate and complete.
Reference: Considerations for Closing a Payables Period
Options A and E are not valid reasons for preventing period closure:
Unapplied Prepayments (Option A):
Explanation: While unapplied prepayments represent amounts paid in advance that have not yet been matched to invoices, they do not prevent the closure of a Payables period. These can remain unapplied across periods and do not impact the period close process.
Suppliers on Payment Holds (Option E):
Explanation: Suppliers placed on payment holds indicate that payments to these suppliers are temporarily suspended. This status does not affect the ability to close a Payables period, as it pertains to future payments rather than existing transactions within the period.
In summary, to successfully close a Payables period, ensure that all payment files are complete, bills payable are matured and accounted for, and all invoices and payments are fully processed and posted.

NEW QUESTION # 23
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FREE PDF QUIZ ORACLE - PROFESSIONAL FREE 1Z0-1055-24 PRACTICE

Free PDF Quiz Oracle - Professional Free 1Z0-1055-24 Practice