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| Section | Weight | Objectives |
|---|---|---|
| Revenue Contracts and Performance Obligations | 24% | - Create and manage revenue contracts and contract modifications - Handle contract assets, liabilities, and billing events - Identify and define performance obligations and distinct goods/services - Allocate transaction price to performance obligations |
| Revenue Recognition and Accounting Rules | 26% | - Configure accounting configurations, journal entries, and accounting methods - Understand and apply ASC 606 / IFRS 15 standards - Define and manage revenue recognition rules and schedules - Manage allocation and measurement of transaction prices |
| Revenue Management Implementation and Setup | 28% | - Configure integration with Oracle Financials Cloud and other modules - Configure Revenue Management application components - Define system options, parameters, and reference data - Set up standalone pricing and pricing dimension structures |
| Revenue Reporting and Analytics | 22% | - Monitor and reconcile revenue balances and accounting data - Build analyses, dashboards, and infolets for revenue data - Generate standard and custom revenue reports - Use Oracle Transactional Business Intelligence (OTBI) for revenue reporting |
1. Which is Not a required piece of information when importing contract header information from a source file?
A) Date of source Document
B) Record Type
C) Source Document Unique Identifier Number 1
D) Currency code of source document
E) Source Document Type code
F) Source System
2. Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?
A) allow complete
B) require complete
C) allow partial
D) require partial
3. In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must be completed.
Which two are NOT included in the four step process?
A) Approve the OSSP by establishing it.
B) Review the calculated OSSP.
C) Categorize standalone sales by performance obligation.
D) Run Create Accounting.
E) Close the previous period.
F) Run the Calculate Observed Standalone Selling Prices program.
4. Revenue tracks several amounts associated to a customer contract, for example, selling amount, allocated amount, and billed amount. What is allocated amount?
A) transaction price distributed to each performance obligation
B) revenue recognized for each performance obligation
C) transaction price derived from the source system line import
D) stand-alone selling price assigned to the promised detail line
5. 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 total Transaction Price is over the user-defined threshold amount.
B) The contract is missing Billing data.
C) The contract is missing standalone selling prices at the promised detail level or at obligation level.
D) The contract is missing satisfaction events.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B,C | Question # 3 Answer: C,F | Question # 4 Answer: A | Question # 5 Answer: A |
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