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Oracle 1z0-506 Exam Syllabus Topics:

SectionWeightObjectives
Customer Management20%- Customer Accounts
  • 1. Manage customer sites and contacts
    • 2. Create and maintain customer accounts
      • 3. Define profile classes
        - Credit Management
        • 1. Set up credit limits
          • 2. Configure credit checking rules
            Collections and Period Close13%- Period Close
            • 1. Complete receivables period close
              • 2. Reconcile to general ledger
                • 3. Generate reports and inquiries
                  - Collections Management
                  • 1. Process disputes and follow-ups
                    • 2. Manage dunning and correspondence
                      • 3. Use collections dashboard
                        Receipt Processing and Application20%- Receipt Creation
                        • 1. Enter manual receipts
                          • 2. Import receipts via lockbox
                            • 3. Process automatic receipts
                              - Receipt Application
                              • 1. Manage unapplied and on-account receipts
                                • 2. Process chargebacks and adjustments
                                  • 3. Apply receipts to open items
                                    Receivables Setups22%- Receipts Setup
                                    • 1. Define receipt classes and methods
                                      • 2. Set up remittance bank accounts
                                        • 3. Configure autoCash rule sets
                                          - Transactions Setup
                                          • 1. Define transaction types
                                            • 2. Configure transaction sources
                                              • 3. Set up memo lines
                                                - System Options
                                                • 1. Set up autoaccounting
                                                  • 2. Configure accounting options
                                                    • 3. Define receivables system options
                                                      Transaction Processing25%- Invoicing
                                                      • 1. Create and update invoices
                                                        • 2. Correct and adjust transactions
                                                          • 3. Manage credit and debit memos
                                                            - Revenue Management
                                                            • 1. Define revenue recognition policies
                                                              • 2. Manage contingencies
                                                                • 3. Review revenue accounting

                                                                  Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

                                                                  1. A company has implemented a flat interest calculation late charges. Determine the late charge based on:
                                                                  -Amount Overdue = $1,500 -Interest Rate = 20% -Days Overdue = 10 -Days in period = 30 -Outstanding Charges = $80

                                                                  A) $100
                                                                  B) $105.33
                                                                  C) $300
                                                                  D) $1,580


                                                                  2. The Collections Manager is identifying delinquent transactions, while submitting the Determine
                                                                  Delinquency lining Scoring program, in which business unit will the collections Manager be able to view the parameters list?

                                                                  A) Only the business unit to which the user belongs
                                                                  B) Only those business units for which there are delinquent customers
                                                                  C) All business units in the organization
                                                                  D) Only those business units for which the user has access


                                                                  3. You have created an Autocash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice.
                                                                  -Discount = Earned Only -Late charges = NO -Receipt = $900 -Receipt date = 14-Feb-2010 -Discount Grace Days = 5
                                                                  Which Transaction will be applied to the receipt?

                                                                  A) Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2010. Due Date 28-Feb-2010
                                                                  B) Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2010, Due Date: 20-Feb-2010
                                                                  C) Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Fob-2010, Due Date 24-Feb-2010
                                                                  D) Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2010, Due Date: 28-Feb 2010


                                                                  4. Select three values that the dunning letter generation program includes.

                                                                  A) Credit memo
                                                                  B) Prepayments
                                                                  C) Invoice
                                                                  D) Unapplied
                                                                  E) Debit memo


                                                                  5. Which three ways will changing the customer information impart the collection process?

                                                                  A) Adding or modifying the customer contact name in the Contacts tab impacts where the correspondence is sent.
                                                                  B) Changing the Collector impacts the individual working with the delinquent customer.
                                                                  C) Business unit level changes will NOT Impact the display of delinquent customers on the dashboard.
                                                                  D) Making changes In the Profile tab Impacts the collection process.
                                                                  E) Changing Information in the Profile Tab does NOT have an impact on the level in which the collections are done.


                                                                  Solutions:

                                                                  Question # 1
                                                                  Answer: A
                                                                  Question # 2
                                                                  Answer: D
                                                                  Question # 3
                                                                  Answer: D
                                                                  Question # 4
                                                                  Answer: C,D,E
                                                                  Question # 5
                                                                  Answer: A,B,D

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