Course Description

Prepare to pass exam: Oracle Cost Management Cloud 2024 Implementation Professional

The Oracle Cost Management 2024 Implementation Professional certification is designed for Cost Management Implementers and Cost Accountants who implement enterprise costing solutions. An individual who earns this certification is skilled at and capable of managing landed costs, subledger accounting, cost scenarios; configuring costing methods and Project Enabled Supply Chain; implementing receipt accounting processes; analyzing and resolving standard cost variances.

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

To prepare for the Oracle Cost Management Cloud 2024 Implementation Professional exam, focus on mastering cost accounting, cost controls, and inventory valuation processes in Oracle Cloud. Gain hands-on experience with cost management configurations, cost structures, and integration with other financial modules. Use official documentation, training courses, and practice exams to reinforce your knowledge and ensure exam readiness.

Exam topics covered

Managerial Accounting Overview

• Explain cost accounting and its integration with other modules
  
• Describe the purpose of cost accounting, receipt accounting, and landed cost
• Explain key implementation decision points

Configuring Receipt Accounting

• Describe the Receipt Accounting Work Area
  
• Explain Receipt Accounting
• Configure Accrue at period end
• Set up and manage the Receipt Accounting processes
• Manage daily Receipt Accounting tasks

Configuring Cost Accounting

• Describe the Cost Accounting Work Area
  
• Explain Cost Accounting
• Configure costing methods like Standard, Perpetual, Actual, and Periodic Average Cost
• Configure Cost Accounting Key setups
• Explain the role of Costing Key setups and Cost policies
• Set up and manage Cost Accounting processes and Reporting
• Manage Daily Cost Accounting tasks

Managing Standard Costs

• Manage the various cost scenarios
  
• Create standard costs, resource rates, and overhead rates
• Manage rolled up Costs
• Analyze and resolve Standard Cost variances

Configuring and Managing Landed Cost

• Describe the Landed Cost Work Area
  
• Explain Landed Cost
• Manage landed cost
• Manage charge names, reference types and routes

Defining Subledger Accounting

• Explain receipt and cost accounting subledger
  
• Create Account Rules
• Create Journal Line Rules
• Create subledger journal entry rule set
• Create an accounting method
• Explain the relationships of subledger components
• Analyze and resolve errors and exceptions

Costing and Inventory Foundations

• Explain the common inventory configurations
  

Managing Projects Enabled Supply Chain

• Explain common projects enabled SCM configurations
  
• Manage project enabled work orders