Oracle 1Z0-1074-26 Exam : Oracle Cost Management Cloud 2026 Implementation Professional

  • Exam Code: 1Z0-1074-26
  • Exam Name: Oracle Cost Management Cloud 2026 Implementation Professional
  • Updated: Sep 22, 2026
  • Q & A: 82 Questions and Answers

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Oracle 1Z0-1074-26 Exam Syllabus Topics:

SectionObjectives
Cost Management Cloud Overview- Application architecture and key components
- Cost accounting fundamentals in Oracle Cloud
Setup and Configuration- Cost component definitions and mappings
- Cost methods and valuation structures
- Cost organizations and cost profiles setup
Inventory and Costing Processes- Receipt accounting and cost updates
- Inventory transactions cost processing
- Work in process (WIP) cost flows
Cost Accounting and Distribution- Cost accounting distributions
- Subledger accounting integration
Troubleshooting and Best Practices- Common configuration issues
- Performance and reconciliation best practices
Period Close and Reporting- Cost period close process
- Cost reports and reconciliation

Oracle Cost Management Cloud 2026 Implementation Professional Sample Questions:

Question #1

An invoice is created in a foreign currency. The invoice is not paid until several weeks later. By then, the currency conversion rate has changed.
How do you get the journal line rule to calculate the gain or loss?

  • A. Create a foreign reporting currency to track gain/loss.
  • B. Subledger Accounting is already set up to process it.
  • C. Create a secondary ledger to track gain/loss.
  • D. Turn on the Subledger Gain or Loss Option.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

Your client wants to set up some of their items as expense items and then enable them to be accrued at period end for one of their business units.
Which two configurations will support this request?

  • A. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to Period End.
  • B. Product Information Item > Search and select the expense item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "Yes".
  • C. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at Period End.
  • D. Manage Common Options for Payables and Procurement > Select the business unit > Expense Accruals > Set Accrue Expense Items to At Receipt.
  • E. Configure Procurement Business Function > Select the business unit > Set Select Receipt Close Point to Accrue at At Receipt.
  • F. Product Information Item > Search and select item > Specifications > Manufacturing > Verify that Inventory Asset Value is set to "No".
Reveal Solution  Discussion  0

Correct Answer: C,D  🗳️

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Question #3

Identify two characteristics of an expense pool. (Choose two.)

  • A. You can define the name of your expense pool, but you cannot define more than one.
  • B. It is used only for analyzing gross margins on noninventory sales of services.
  • C. It is a user-defined entity that represents a grouping of expenses that you want to absorb with resource and overhead rates.
  • D. It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
Reveal Solution  Discussion  0

Correct Answer: C,D  🗳️

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Question #4

You are explaining the characteristics of a "profit in inventory" cost element to a client. Which three statements describe true characteristics of this cost element?

  • A. It is only used when you do not need to maintain an arm's length relationship.
  • B. It can help you with consolidated financial reporting.
  • C. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in different business units.
  • D. It can help you understand true margins and value added by internal business units through the internal supply chain.
  • E. It is a special type of cost element that helps you keep track of internal markups when inventory is transferred between inventory organizations that are in the same business unit.
Reveal Solution  Discussion  0

Correct Answer: B,C,D  🗳️

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Question #5

You are establishing the cost for a make assembly. When we run Cost Rollup, it is not rolling up and the Assembly shows "0" cost. However, item costs are available for child (buy) components. In the review work order cost, we are able to see child components costs, but not the rollup cost of the assembly.
Identify two reasons this happened.

  • A. The Work Definition is incomplete.
  • B. Burdens have not been established for the item
  • C. The assembly item is marked as Perpetual Average costed.
  • D. Outstanding purchase orders have not been received.
  • E. The item has no on-hand inventory.
Reveal Solution  Discussion  0

Correct Answer: A,C  🗳️

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