1Z0-1087-23 Oracle Account Reconciliation 2023 Implementation Professional Exam

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Oracle Account Reconciliation 2023 Certified Implementation Professional

Format: Multiple Choice
Duration: 90 Minutes
Exam Price: $
Number of Questions: 60
Passing Score: 68%
Validation: This exam has been validated against 22A/22B/22C/22D/23A/23B.
Policy: Cloud Recertification
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An Oracle Account Reconciliation 2023 Certified Implementation Professional 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 configure reconciliation rules, as well as set up calendars and teams.

If you have a valid Oracle Account Reconciliation Implementation Professional Certification, and your credential has not expired, you can maintain your certification by taking the corresponding shorter Delta exam.

Check the Oracle Recertification Policy to see if you qualify.

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

Become a Certified Account Reconciliation Implementer

Additional Preparation and Information

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

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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 threshold)
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
Load Data Using Data Integration

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 and Calendars
Configure Periods
Set Up Teams

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Sample Question and Answers

QUESTION 1
From which two dates defined in the period can you schedule reconciliations? (Choose two.)

A. end date
B. prior period end date
C. close date
D. start date

Answer: AC

QUESTION 2
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. Only users with the administrator role can run data loads.
D. If there is no change in the balance, the reconciliation is not updated.

Answer: A

QUESTION 3
Which keyword in a Teams import file identifies the section with the team members?

A. #team_children
B. #team
C. #team_items
D. #dependents

Answer: B

QUESTION 4
Which two Bank File formats does Account Reconciliation support using pre-built adapters in Data Management? (Choose two.)

A. SWIFT MT940
B. BAI
C. EDI
D. XML

Answer: AB

QUESTION 5
Which expression do you include in the Expression field of the Amount column in an import format to ensure that zero balances are loaded?

A. Source system
B. NZP
C. 0
D. Include Null

Answer: B

QUESTION 6
Which statement about loading pre-mapped balances is FALSE?

A. You can drill back to the ERP from the reconciliation screen.
B. You must select a currency bucket for the import.
C. You must select a period to which to load the balances.
D. You can import from either tab separated or comma separated files.

Answer: A