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Oracle Account Reconciliation 2021 Certified Implementation Specialist

Format: Multiple Choice
Duration: 90 Minutes
Exam Price: Rs.40,575
Number of Questions: 60
Passing Score: 68%
Validation: Exam has been validated against Oracle Account Reconciliation 21.04
Policy: Cloud Recertification

Prepare to pass exam: 1Z0-1087-21
An Oracle Account Reconciliation 2021 Certified Implementation Specialist has demonstrated the knowledge and expertise in implementing account reconciliation solutions. Individuals with this certification can configure reconciliation compliance and transaction matching, manage reconciliations, load data, and create and manage reconciliation rules, as well as set up calendars and teams.

Take recommended training
Complete one of the courses below to prepare for your exam (optional):

In the subscription: Oracle EPM Cloud Learning Subscription

Additional Preparation and Information

A combination of Oracle training and hands-on experience (attained via labs and/or field experience) provides the best preparation for passing the exam.

Review exam topics

Solution Overview
Describe Reconciliation Compliance and Transaction Matching
Explain Processes for Reconciliation Compliance (5 step process)
Describe Reconciliation Methods (Balance Comparison, Account Analysis, Variance Analysis, Balance Comparison with Transaction Matching, Account Analysis with Transaction Matching, and Transaction Matching Only)
Describe user roles (Administrator, Power User, User, Viewer)

Configuring Reconciliation Compliance
Create and manage Formats
Create and manage Profiles (Manual entry, copy & paste, delete, export and import; change theshold)
Import and Export Teams

Managing Reconciliations
Describe Individual, Group, and Summary Reconciliations
Create and delete Reconciliations
Manage Period Status
Transfer reconciliations between users
Review, Approve, Reject, and Reopen reconciliations

Loading Data
Describe methods of loading data (including EPM Automate and REST APIs)
Load manual Pre-mapped data
Import Data Using Data Management

Creating and Managing Rules
Add calculated attributes and filters
Describe the Types of Rules
Add Rules to Formats and Profiles
Publish Filters

Configuring Transaction Matching
Create Match Types (Data Sources, Attributes, Transaction Types)
Configure Match Processes (including matching rules)
Create Formats and Profiles for Transaction Matching reconciliations
Export and Import Match Types
Import Transactions to Data Sources

Perform Transaction Matching
Explain Transaction Matching Processes – Load data, run Auto Match, Confirm Suggested Matches, Create Manual Matches
Identify Use Cases – Clearing or Accrual Reconciliations, Reconciling Debits and Credits
Export adjustments or transactions as journal entries

Analyzing Transaction Matches
Describe 5 balancing scenarios (Golden Rules)
Review Transaction Matching Period-End Balancing

Setting Up the System
Discuss Profile Segments
Define Currency Rates and Currency Buckets
Set Up Organization Units
Set Up Calendars
Configure Periods
Set Up Teams

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Question 1:
For which scenario could a match type with a single data source be appropriate?

A. intercompany matching
B. matching credits and debits for a clearing account
C. variance analysis for current and prior period balances
D. matching bank and point-of-sale transactions

Correct Answer: B

Question 2:
Which two statements are true about importing and exporting match types? (Choose two.)

A. Match types are exported to a .zip folder
B. Import can update match types with Approved status only.
C. Import can update match types with Pending status only
D. Match types are exported to comma-separated (CSV) files

Correct Answer: C,D

Question 3:
Which statement is always true of data loads from Data Management?

A. You must select either Actual or Budget as the scenario for the data
B. You cannot load data into reconciliations with a status of Closed
C. If there is no change in the balance, the reconciliation is not updated
D. Only users with the administrator role can run data loads

Correct Answer: A

Question 4:
Which statement about journals in transaction matching is FALSE?

A. For transactions, you can apply a data source filter to the export.
B. You create separate journal column mappings for adjustments and transactions
C. For transactions, you can apply a data source filter to the export.
D. For adjustments, the variance amount is exported to the Amount column

Correct Answer: D

Question 5:
In a reconciliation profile, the Account Payable Reviewers team is assigned as the reviewer,
and you want to require that ALL team members approve the reconciliation.
Which action should you perform?

A. In the Instructions tab of the profile, add instructions for all team members to review the reconciliation
B. Add a rule of the type Require Team Review to the Rules tab.
C. Do not select a Primary User for the Account Payable Reviewers team
D. On the Workflow tab of the Profile, select All Reviewers in the Require Action By field.

Correct Answer: D