Oracle Cost Management Cloud 2026 Implementation Professional : 1Z0-1074-26

  • Exam Code: 1Z0-1074-26
  • Exam Name: Oracle Cost Management Cloud 2026 Implementation Professional
  • Updated: Sep 28, 2026
  • Q & A: 82 Questions and Answers

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Oracle 1Z0-1074-26 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Cost Accounting25%- Process and analyze costs
  • 1. Review cost distributions
    • 2. Period-end valuation and close
      • 3. Run cost processor
        - Set up Cost Accounting
        • 1. Define cost methods
          • 2. Set up cost profiles
            • 3. Configure cost components and elements
              Topic 2: Landed Cost Management15%- Process landed cost transactions
              • 1. Allocate charges
                • 2. Reconcile variances
                  - Configure Landed Cost
                  • 1. Define charge types and rules
                    • 2. Set up estimated vs actual costs
                      Topic 3: Subledger Accounting10%- Configure accounting rules
                      • 1. Journal line definitions
                        • 2. Account derivation rules
                          - Review accounting entries
                          • 1. Validate subledger journals
                            • 2. Transfer to General Ledger
                              Topic 4: Receipt Accounting20%- Manage Receipt Accounting transactions
                              • 1. Analyze and reconcile accruals
                                • 2. Run period-end close
                                  - Configure Receipt Accounting
                                  • 1. Receipt accrual process
                                    • 2. Accrue at period end
                                      Topic 5: Security and Inventory Configuration5%- Configure inventory costing parameters
                                      • 1. Organization costing options
                                        • 2. Item cost attributes
                                          - Set up access control
                                          • 1. Define roles and data security
                                            Topic 6: Supply Chain Financial Orchestration10%- Monitor and troubleshoot flows
                                            • 1. Resolve exceptions
                                              • 2. Track transaction status
                                                - Set up orchestration flows
                                                • 1. Configure financial rules
                                                  • 2. Define business events
                                                    Topic 7: Standard Cost Management15%- Analyze standard cost variances
                                                    • 1. Purchase price variance
                                                      • 2. Usage and rate variances
                                                        - Define and maintain standard costs
                                                        • 1. Update and publish standard costs
                                                          • 2. Create cost scenarios

                                                            Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions:

                                                            Question #1

                                                            Identify four processors available in the cost processor.

                                                            • A. Cost of Goods Sold Processor
                                                            • B. Cost Distribution Processor
                                                            • C. Cost Reports Processor
                                                            • D. Receipt Processor
                                                            • E. Cost Accounting Processor
                                                            • F. Costing Period Processor
                                                            Reveal Solution  Discussion  0

                                                            Correct Answer: A,B,C,E  🗳️

                                                            Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                                            Question #2

                                                            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?

                                                            • A. Receipt Accounting- Receipt Accounting Distributions Real Time
                                                            • B. Costing-Cost Accounting Real Time
                                                            • C. Receipt Accounting-- Receipt Accounting Transactions Real Time
                                                            • D. Costing -Receipt Accounting Real Time
                                                            • E. Financials-Subledger Accounting-Detail Transactions
                                                            Reveal Solution  Discussion  0

                                                            Correct Answer: E  🗳️

                                                            Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                                            Question #3

                                                            What are the predefined areas that give you visibility into the status of Receipt Accounting, on the overview page in the Receipt Accounting work area?

                                                            • A. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Transactions
                                                            • B. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Period Validation Status
                                                            • C. Receipt Accounting Processes, Cleared Accruals, Receiving Balances, Receipt Accounting Transactions
                                                            • D. Receipt Accounting Processes, Accrual Schedule, Receiving Balances, Receipt Accounting Period Validation Status
                                                            • E. Receipt Accounting Processes, Accrual Schedule, Review Journal Entries, Receipt Accounting Transactions
                                                            Reveal Solution  Discussion  0

                                                            Correct Answer: C  🗳️

                                                            Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                                            Question #4

                                                            Identify the four types of cost adjustments.

                                                            • A. Authorized users can manually create cost adjustments.
                                                            • B. A standard cost update will create an inventory value adjustment.
                                                            • C. A change to a requisition after the purchase order has been created will create a cost adjustment. D. A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.
                                                            • D. A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.
                                                            • E. 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 purchaseorder.
                                                            Reveal Solution  Discussion  0

                                                            Correct Answer: A,B,D,E  🗳️

                                                            Question #5

                                                            Which two steps need to be completed to estimate landed costs?

                                                            • A. Allocate charges
                                                            • B. Transfer transactions from the Payables to the Costing process.
                                                            • C. Transfer transactions from the Inventory to the Costing process.
                                                            • D. Prepare the Material Purchase Order Data process.
                                                            • E. Update standard costs.
                                                            Reveal Solution  Discussion  0

                                                            Correct Answer: A,D  🗳️

                                                            Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

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