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| Section | Objectives |
|---|---|
| Revenue Contracts and Performance Obligations | - Contract creation and management - Revenue allocation rules - Identification of performance obligations |
| Reporting and Troubleshooting | - Standard reporting capabilities - Error handling and reconciliation |
| System Configuration and Setup | - Initial setup and configuration options - Enterprise structures and accounting setup |
| Oracle Revenue Management Cloud Service Overview | - Business use cases and industry applications - Core concepts of Revenue Management Cloud Service |
| Revenue Recognition and Accounting Rules | - Revenue recognition models - Adjustments and reallocation scenarios - Standalone selling price allocation |
| Integration and Data Flow | - Integration with Oracle ERP Cloud - Source data ingestion and transformation |
1. What does a Variable Consideration require?
A) an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized
B) a disclosure be made to the shareholders
C) an estimate of the consideration be made at inception only
D) that the consideration be monetary
2. The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?
A) Oracle Receivables
B) Oracle General Ledger
C) Oracle Subledger Accounting
D) Oracle Revenue Management Cloud
3. Why Is Satisfaction Method a key element of a Performance Obligation?
A) because it determines whether revenue for a good or service is recognized Over Time or Point in Time
B) because it specifies whether revenue has been fully or partially recognized for a good or service
C) because it calculates the amount of Total Transaction Price allocated to date
D) because it calculates the percentage of Total Transaction Price allocated to date
4. The Customer Contract Source Data Import Template contains three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively.
What data Is captured In the "Customer Contract Source Document Sub Lines" tab (VRM_SOURCE_DOC_SUB_LINES table)?
A) Sales order line level data.
B) Sub contract level details.
C) Sales order header level data.
D) Performance obligation satisfaction event details.
5. Which statement Is True regarding the Customer Contract Source Data Import Template?
A) It Is a predefined HTML FBDI template.
B) It is a custom template that you are required to build.
C) It is a predefined Excel FBDI template.
D) It is a predefined Java FBDI template.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C,D | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: C |
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