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Identify four processors available in the cost processor. (Choose four.). Receipt Processor. Costing Period Processor. Cost Reports Processor. Cost Accounting Processor. Cost Distribution Processor. Cost of Goods Sold Processor.

Your client originally used Quick Setup to configure Cost Accounting. However, after reviewing their costing policies, they realize that they want to cost some of their lots differently than others. What must they do to accomplish this?. They must create their valuation units manually. They cannot change their current configuration; data generate by Quick Setup cannot be changed. Quick Setup generates valuation units, so they just have to access those valuation units and make their changes. Quick Setup generates one valuation unit so they can access this to make changes and manually create new valuation units.

If the accounting method does not have an assigned chart of accounts (COA), which option is valid?. The accounting method may only be used by ledgers without a COA. The accounting method can be assigned to any ledger. Any secondary ledger that uses the method cannot have a COA. The accounting method must have a mapping set to convert the accounts. Accounting rules cannot override the accounting method.

You can track costs at what granularity level in Cost Accounting for the actual costing method?. Subinventory, Lot, Serial, Grade. Subinventory, Make, Lot, Serial. Grade, Serial, Group, Lot. Grade, Subinventory, Locator, Serial. Subinventory, Lot, Serial, Locator.

In which two scenarios would you define account rules based on value sets? (Choose two.). When a chart of accounts is assigned to the value set definition. In the absence of chart of accounts on the accounting method. When secondary ledger has a different COA. If a segment shares the same value across multiple chart of accounts. When there is a mapping set to convert the accounts.

Identify two characteristics of a cost profile. (Choose two.). It is used for Receipt Accounting. It is where you define which cost method you want to use for the cost component to cost element mapping. It is where you define your Cost Account policies. It is used for calculating the estimated cost of manufactured items under different scenarios.

A chart of accounts (COA) must be specific on the accounting method for which two situations? (Choose two.). When using segment rules. When using account combination rules. When using ledgers that have unique accounting requirements. Every accounting method should have a COA. When account combination rules use constants.

You have made some changes to your subledger accounting setups for Costing and want to verify that the journal entries are showing up correctly. How can you generate a report that allows you to see the subledger journal entries for transactions without actually transferring to the General Ledger?. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No. Run the Transfer Transactions from Inventory to Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No. Run the Create Cost Accounting Distributions process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No. Run the Create Cost Accounting Distribution process with the following parameters: Accounting Mode = Final Report Style = No report Transfer to General Ledger = No Post in General Ledger = No. Run the Create Accounting for Costing process with the following parameters: Accounting Mode = Draft Report Style = Detail Transfer to General Ledger = No Post in General Ledger = No.

Your client is using Quick Setup to implement Costing. They have a requirement to track costs for manufacturing overhead. How can you make sure that this requirement is met?. Complete Quick Setup and then create the user-defined cost using the Manage Cost Component Task. Create the cost in Manage Cost Scenarios. This requirement will already be met by the default data generated when using Quick Setup. You can only track costs for Direct Labor and Direct Equipament this, requirement cannot be met.

If the Create Accounting process ends with errors or warnings, which three statements outline places you can go to get more detailed information about the specific errors and warnings? (Choose three.). Query the transaction from Review Cost Account Distributions to see the error message. Refer to the Accounting Event Diagnostic report. Review errors in the Accounting Execution log. Review errors in the Create Accounting Execution report. Refer to the Accounting Event Diagnostic Log.

If the accounting method on the Subledger Accounting method page has an assigned chart of accounts (COA), which two types of journal entry rule sets can be used? (Choose two.). Rule sets that have a mapping set to convert the accounts. Rule sets not associated with any chart of accounts. Rule sets assigned to a secondary ledger with a different COA. Rule sets where the accounting rules override the method rule set. Rule sets that use the same chart of accounts.

Identify four characteristics of a cost element. (Choose four.). It is the granularity at which costs are tracked and accounted. It uses date effectivity. It is user-defined. It is the most granular level of cost captured by upstream system such as procurement, accounts payable, and manufacturing. Users can define any number of costs element. The mapping of cost components into cost element is user-defined.

Which three predefined areas can you review on the Overview page of Cost Accounting? (Choose three.). Cost Processing. Item Cost. Work Order Costs. Journal Entries. Inventory Valuation. Purchase Variance Summary.

After “Cost Accounting Processor” has processed the physical inventory classification of transactions, which transaction types will it process next?. Retro-reprice. Cost of Goods Sold. Adjustments. In-transit. Overhead.

Which two statements are true about Cost Accounting books? (Choose two.). Secondary books can post accounting entries into any ledger, including the primary ledger or any secondary ledger. A cost organization can use secondary books to perform Cost Accounting for different purposes such as currencies, regulatory reporting, or management reporting. Every cost organization must use different book names; they cannot be shared. A cost organization has one book that posts to the primary ledger.

Identify four features provided by the Review Work Order Costs UI when displaying work order costs. (Choose four.). Input Costs. Incremental Costs. Scrap Costs. Standard Costs variances. Output Costs. Variable Costs.

Which four predefined costing reports can you use to gather information to review inventory value? (Choose four.). In-transit Valuation Report. Cost Account Balances Report. Layer Inventory Valuation Report. COGS and Revenue Matching Report. Cost Accounting Valuation Report Inventory Valuation Report. Work in Process Inventory Valuation Report.

Identify two purposes of Subledger Accounting. (Choose two.). To create accounting strings that can be viewed and corrected just before they are transferred to the General Ledger. To maintain backward compatibility. To centralize accounting string generation across all modules. To obtain detailed information for audit purposes since all subledger accounting is at the detail level. To calculate costs for transactions.

Your client wants to turn on the summary for GL posting, but they want the Subledger Accounting to contain every transaction un summarized for detailed analysis and drill down. How do you accomplish this?. Turn off the summarize flag in the journal line rule. Turn on detailed posting for GL in the ledger setup. Write a custom report. Turn off merge matching lines in the journal line rule. Extract distribution accounting entries.

Identify four reasons to use the set ID when defining Cost Accounting setups. (Choose four.). You can streamline your setup effort. You don't have to create any definitions for cost books. You can share definitions across multiple cost organizations. You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting. You can control which definitions are visible to different cost organizations. You have the option to share setup data across all cost organizations using the common set.

Select the two valid relationships between subledger components. The accounting method holds the accounting rules by Event Class and Event Type. The journal lines hold the journal entry rule sets. The accounting method groups journal entry rules sets by Event Class and Event Type. Journal entry rules are used to hold accounting rules. Journal entry rules sets hold journal rules and accounting rules.

After all relevant transactions are In Receipt Accounting, which two tasks must be completed for these transactions to be transferred to the General Ledger? (Choose two.). Transfer transactions from payables. Transfer to Subledger Accounting. Create distributions. Assign accruals to purchase order transactions. Transfer transactions from receiving.

Select two ways to define the standard cost for an item from the Cost Accounting work area. (Choose two.). Create Standard Cost in spreadsheet. Import standard costs from receipt layers. Manage the Item Cost task. Manage the Standard Cost task.

How is the standard cost of a manufactured configured item calculated?. The standard cost is calculated for every possible combination of options under a model item. The standard cost of a model item is calculated based on the work definition of the model item. It is based on the actual cost of the work order after it is completed. It is based on the material and resource requirements of a released work order.

Which two types of costs are included in the cost of contract manufactured items?. The cost of items that the original equipment manufacturer (OEM) owns and has provided to the contract manufacturer for use in the process of making the output Items. The cost of items that the contract manufacturer had to purchase to perform the contract manufacturing service, and the cost of resources used by the contract manufacturer. The cost os resources consumed at the OEM's factory. The cost of the contract manufacturing service Item. This is the price that the contract Manufacturer will change to make the outputs and would normally be enough to cover their cost and include a fair profit.

You need to simulate and estimate landed cost charges associated with purchase order receipts of material. What must you create to make this possible?. Charge Name. Cost Scenario. Trade Operation. Routes. Orders.

Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units. Which two configurations will support this request?. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End. Product Information Item > Search and select the expense item > Specification > Manufacturing > Verify that Inventory Asset Value is set to "Yes". Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No". Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Receipt. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items at Receipt.

You have configured the application as follows: • Expense items are set to accrue at receipt. • Receipt Close tolerance is set to 75 percent. • Purchasing Line types are set to 2-way match. When you create a purchase order, the Accrue on Receipt check box is automatically selected when a line is added. Which two configuration changes will ensure the Accrue on Receipt check box is not selected by default?. Change the Purchasing Line types to 4-way match. Change expense items to accrue at period end. Change the Purchasing Line types to 3-way match. Change to Receipt Close tolerance so it is 100 percent. Change inventory items to accrue at period end.

You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe the true characteristics of this cost element? (Choose three.). It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units. It can help you understand true margins and value added by internal business units through the internal supply chain. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business units. It can help you with consolidated financial reporting. It is only used when you do not need to maintain an arm's length relationship.

Identify the four types of cost adjustments. (Choose four.). Authorized users can manually create cost adjustments. When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchase order. A standard cost update will create an inventory value adjustment. A charge to requisition after the purchase order has been created will create a cost adjustment. A retroactive purchase order price adjustment can use an adjustment to the inventory value and the cost of goods sold. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.

Identify three Landed Cost Management tasks. (Choose three.). Capture Charges. Perform Allocations. Create Accounting. Review Journal Entries. View Rolled Up Costs. Manage Cost Scenarios.

Which two steps need to be completed to estimate landed costs? (Choose two.). Allocate charges. Update standard costs. Transfer transactions from the Inventory to the Costing process. Transfer transactions from the Payables to the Costing process. Prepare the Material Purchase Orders Data process.

Which three features are included in Receipt Accounting?. Create Receipt Accounting Distribution. Review-Journal Entries. Adjust Receipt Accrual Clearing Balances. Review Item Costs. Analyze Standard Purchase Cost Variances.

A manager has decided to close the period by not allowing any new transactions, except for corrections and adjustments, which can happen any time before the period is closed permanently. Which cost period status will allow the system to perform the transaction?. Close Pending. Never Opened. Open. Permanently. Closed.

Your customer has asked you to create a report so they can view their receipt accounting distributions along with their receipt accounting transactions. Which subject area would you select to create this report?. Receipt Accounting-Receipt Accounting Transactions Real Time. Costing-Receipt Accounting Real Time. Financials-Subledger Accounting-Detail Transactions. Receipt Accounting-Receipt Accounting Distributions Real Time. Costing-Cost Accounting Real Time.

The process to map the AP invoices to the trade operation charges has been completed. Which entity did the application use to do this?. Trade Operation Template. Material Receipts. Charge Names. Routes. Reference Types.

Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?. Accrual Reconciliation Report. Receipt Accounting Real Time Report. Accrual Supplier Liability Report. Uninvoiced Receipt Accrual Report. Accrual Clearing Report.

When running the Transfer Costs to Cost Management process, where will the primary default source for costs come from and what is the effect?. Payables invoices; invoice price variance can be added to item cost. Requisition costs; validated costs can be used. Receipt costs; costs include adjustments. Receivables invoices; actual cost can be used. Purchase order costs; item catalog costs can be used.

A client wants to track Project costs for Inventory and Work Orders. What are the two steps that you must perform before you can track the project and task?. Enable inventory tracking by project. Enable organizations for common inventory. Define pick slip grouping rules project number. Set project organization hierarchy to inventory organization. Define default expenditure types.

Which three statements are true regarding Managing Units of measure?. You must define units of measure class with a base unit measure. A unit of measure standard conversion specifies the conversion factor by which the unit of measure is equivalent to the unit of measure class. Conversions between classes are unique for each item, the conversion rate varies for intraclass unit of measure. If you want to transact items in units of measure that belong to classes other than their primary UOM class, you must define conversions between the base units of measure in different UOM classes. A unit of measure conversion is a mathematical relationship between two different units os measure.

Which three statements describe key capabilities of Cost Accounting?. User-define organization and granularity of cost elements, ability to track internal profits through inventory for more accurate gross margin reporting, and easier financial reporting consolidations. Transactions from sources system interfaced to Cost Accounting and picked up by the cost processor for cost accounting, based on the cost method and other cost policies and the distributions created and are sent directly to the General Ledger. Tracking of costs only in primary units of measure. Ability to create multiple books for different currencies or reporting requirements within a business unit. Creation of cost simulation with different currencies and inventory valuation methods.

Your customer wants to configure the display of Receipt Accounting Infolets. They would like to reduce the number of available Infolets that users can set/choose in the work area. Which profile option must they use to manage this?. ORA_CMR_DELETE_INFOLETS. ORA_CST_HIDE_INFOLETS. ORA_CST_DELETE_INFOLETS. ORA_CMR_HIDE_INFOLETS.

After which step/process completes, can you review your final accounting?. Transfer transaction from inventory to costing. Create accounting. Transfer transaction from receiving to costing. Create cost accounting distributions. Import cost.

Your customer has global organizations and organizations with multiple legal entities. You need to create account distributions for multiple cost organizations simultaneously without preprocessing dependencies. Which three actions do you perform?. Create a run control with all cost organizations and books. You can group multiple cost organizations under a legal entity in one run control. If you have more than one cost of book for a cost organization, run the primary and secondary books in a separate run control. Run the create cost accounting distributions only at period close. Set up individual run controls for each cost organization for different countries or legal entities.

Which are the three characteristics of an Item Organization?. Ideal for deployment where inventory management may not be installed. Item organizations contain only definitions of items. Require financials and accounting setups. Parameter definitions, including lot, serial number, and item sourcing rules. Material storage or movement is not physically or financially tracked.

Which three statements describe the purpose of Landed Cost Management?. Creating and tracking cost distributions for cost of goods sold. Estimating total purchase cost in advance for better decisions. Itemizing and tracking all landed cost as they apply to a product (a global best practice for industries with complex supply chains). Capturing additional costs associated with procuring materials. Providing tools to manually match actual amounts to estimated charges.

Identify three types of information that users can get from the seed Cost Accounting Gross Margin Oracle Transactional Business Intelligence (OTBI) report. Transactions, cost of goods sold, and revenue recognition all pushed forward into the current period. The cost of goods sold for sales orders that have been shipped but not yet processed by the Create Cost Accounting Distribution Process. The amount of unrecognized revenue and cost of goods sold for a shipped sales order. The analysis of the value of assets in your inventory in a variety of ways, and at varying points in time. Recognize and unrecognized revenues as well as the cost of goods sold for sales orders that have been shipped and processed through the Create Cost Accounting Distribution process.

Your customer ran the Clear Receipt Accrual Balances process, but no purchase orders have been marked for automatic clearing. What do you need to configure to resolve this issue?. Run the Receipt Accounting Distribution process. Define accrual clearing rules. Run the Create Accounting process. Define Receipt Accounting Distribution rules. Define Receipt Accounting rules.

Which three cost planning tasks can be performed in the Cost accounting work area? (Choose three.). Manage resources rates. Manage documentation and accounting rules. Create receipt accounting distributions. Analyzing and comparing costs. Estimating standard costs for assemblies. Review item landed costs.

How is the standard cost of the configured item calculated?. Users can manually enter the cost of each configured item: the calculation is no automated. The standard cost rollup this configurated item is based on work order information interfaced with cost accounting. The standard cost of the configurated item is based on the purchase order price quoted by the supplier for the configured item. The standard cost of a configured item is calculated based on the work definitions of the model item.

Your client has accounting rules that need specific customization. Which two options allow them to accomplish this?. The subledger journal entry set does not need the same accounting event class as the accounting method. Use a different journal entry rule set for each ledger with different accounting convention. Copy and rename predefined subledgers journal entry rule sets before modifying them. The subledger journal entry set does not need the same accounting event type as the accounting method. Journal entry rule sets do not require accounting rules.

You can control whether to consume common material instead of project material by using the inventory attributes of an item. The Allow Use of Common Suppliers attribute is dependent on the values of the Hard Pegging Level Attribute. Which two statements are true?. The allow use of common supplies attributes is null when the hard pegging level is set to none. This indicates that common inventory can be issued or reserved for a project demand for this item. The allow use of common supplies attributes can set to Yes or No when the hard pegging level is set to project and task project or project group. The usage of common inventory for a project demand is allowed only when allow use common supplies is set to Yes. The allow use of common supplies is null when the hard pegging level is set to project and task, project or project group. This indicates that common inventory can be issued or reserved for a project demand for this item. The allow use of common supplies attribute can be set to Yes or No when hard pegging level is set to none. The usage os common inventory for a project demand is allowed only when allow use of common supplies is set to yes.

Your organization currently has the August period for this year open. They want to be able to open the September period, while keeping August open. When you try to open the target period, August of this year, you get an error. What must you do to meet your customer’s requirement and resolve this error?. Close the August period; you can never have two open periods at the same time. Change the number of maximum open periods in the Manage Cost Organization Relationships. Perform cost account validations for August in Manage Cost Accounting. Run transfer Transactions to Costing process.

Your customer wants to run a report to review account balances for both inventory valuation and cost of goods sold. Which two Oracle Transactional Business Intelligence reports would you run so the customer can review these balances? (Choose two.). Costing Balances Report. Inventory Valuation Report. COGS Account Balances Report. Revenue and COGS Matching Report. Inventory Account Balances Report.

For your client's Ship-only orders, you want to use the Sales Order Line Close Date as the COGS Recognition Transaction Date. Which action is NOT required?. From the Manage Profile Options page, search for the newly created profile and select Y at the site level. Create a new profile option, Profile Display Name: User Order Line Close Date for Cost of Goods Sold Recognition. Create a new profile in Cost Accounting. You must rely on proof of delivery to recognize revenue and cost of goods sold. Create a new profile option, Use Profile Option Code: CST_USE_ORDER_LINE_CLOSE_DATE.

At what level can you define item cost profiles?. Item cost profiles are defined at the cost organization level. All items within a cost organization must use the same cost profile. Different items within an inventory organization can use different cost profiles, but items within an item category must all use the same cost profile because that is the level at which the default cost profile is defined. Item cost profiles are defined within an inventory organization. There can be only one cost method for an Inventory organization. Cost profiles are ultimately defined at the item level. Different items within the same inventory organization can use different cost profiles.

To support the outside processing for a project-specific work order, Supply Chain Orchestration enriches supply requests with the following project details: supply requests - work orders, transfer request ... Which three statements are true?. Expenditure Item Date is set to the receipt date and the Expenditure Organization is set to the manufacturing plant. Expenditure Type is set to the expenditure type associated with the outside processing item. Expenditure Item Date is set to the requested need-by date and the Expenditure Organization is set to the manufacturing plant. Supply Chain Orchestration initiates the creation of a requisition with the project details. Supply Chain Orchestration initiates the creation of a purchase order without the work order.

You have finished creating your subledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that journal entries are generated? (Choose two.). Run the "Active Accounting Methods" process. Add the subledger journal entry rule sets to the Manage Journal Entry Rule Set task. Add the subledger journal entry rule sets to the Manage Accounting Method task. Run the "Active Subledger Journal Entry Rule Set Assignments" process. Validate the subledger journal entry rule sets using Validate Journal Entry Rule Set.

As part of your period close process, which three processes can you run from the Cost Accounting Work Area?. Create Cost Accounting Distributions. Manage Cost Accounting Periods. Transfer Transactions from Receiving to Costing. Create Accounting. Transfer Transactions from Production to Costing.

Identify two reference types used to tie a receipt trade operation to an expense invoice for landing. (Choose two.). Bill Landing. Shipment Number. Expense Invoice Number. Receipt Number. Internal Requisition Number.

Your customer has a defined financial route that is not the same as the physical route in that it involves intermediate nodes (internal business units) that are not part of the physical supply chain. Which pair of tasks are required to define and associate routes in Landed Cost Management?. Define the route in Functional Setup Manager and associate with Trade Operations in Landed Costs. Define the route in Functional Setup Manager and associate with Manage Change Invoices Associations in Landed Costs. Define the route in Landed Costs and associate with the Trade Operations Template in Landed Costs. Define the route in Cost and Profit Planning and associate with Trade Operations in Landed Costs. Define the route in Cost and Profit Planning and associate with Trade Operations Template in Landed Costs.

What are two outcomes in Create Accounting when an account combination returned is end dated?. An alternative account is used, if provided. The preprocessor pre-warns about this error. An error always occurs. Suspense accounts cannot be used. The original account is stored on the journal line.

Which three tasks can be completed in the Receipt Accounting work area?. Manage Accrual Clearing Rules. Review Item Cost. Create Accounting. Review and Approve Item Cost Profiles. Create Receipt Accounting Distributions. Review Cost Accounting Distributions.

Landed cost management interfaces with multiple cloud applications. Which application must be implemented as a prerequisite to Landed Cost Management?. Cloud Cost Management. Cloud Purchasing. Cloud Tax. Cloud Payables. Cloud Receipt Accounting.