Oracle 1Z0-1074-21 : Oracle Cost Management Cloud 2021 Implementation Essentials

  • Exam Code: 1Z0-1074-21
  • Exam Name: Oracle Cost Management Cloud 2021 Implementation Essentials
  • Updated: Oct 29, 2026
  • Q & A: 80 Questions and Answers

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Oracle 1Z0-1074-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Cost Management Cloud Setup and Configuration- Cost components configuration
- Cost organization setup
- Cost profiles and valuation structures
Topic 2: Reporting and Analytics- OTBI and analysis tools
- Cost reporting
Topic 3: Period Close Processes- Reconciliation and adjustments
- Cost period close activities
Topic 4: Inventory Costing- Perpetual costing and valuation
- Actual costing methods
- Standard costing
Topic 5: Cost Accounting- Cost accounting distributions
- Subledger accounting integration
- Cost accounting rules and flows

Common Questions About the Oracle 1Z0-1074-21 Exam

The Oracle Cost Management Cloud 2021 Implementation Essentials is the official Oracle exam that leads to the Oracle Cost Management Cloud Implementation Specialist certification at the Professional level. Passing it validates your skills against Oracle standards and proves your qualification to current and future employers. The credential is also connected with related certifications such as Oracle SCM Cloud, Oracle Inventory Cloud, so it can serve as a solid step in a broader certification path.

The 1Z0-1074-21 exam has 55-75 questions in total and must be completed within 105 minutes. That leaves only a narrow time budget per item, so train yourself to flag a difficult question, move on, and circle back later instead of getting stuck. A week or two before your test date, run at least one full timed mock exam in the VCETorrent desktop or online test engine under the same 105 minutes limit, and repeat until you can finish with a few minutes left for review.

Oracle sets the following requirement for the 1Z0-1074-21 exam: Recommended understanding of Oracle Cloud SCM fundamentals and Inventory Management concepts.. Eligibility rules can change from time to time, so always confirm the current prerequisites on the official exam page at https://education.oracle.com before you register.

You can register for the Oracle Cost Management Cloud 2021 Implementation Essentials through the following official channels:

The 1Z0-1074-21 exam is delivered as Online proctored or test center delivery via Pearson VUE, so review the technical and check-in requirements for that format when you schedule your appointment.

Oracle recommends the following official training options for the Oracle Cost Management Cloud 2021 Implementation Essentials:

Official courses build the theory, and pairing them with the 80 practice questions from VCETorrent turns that knowledge into exam-ready answers.

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The Oracle Cost Management Cloud 2021 Implementation Essentials is organized into 5 domains. Among the first ones are Cost Management Cloud Setup and Configuration, Cost Accounting, Inventory Costing, and the remaining domains cover the rest of the official objectives. For the complete topic breakdown with every subtopic, see the full 1Z0-1074-21 exam outline above on this page.

Oracle Cost Management Cloud 2021 Implementation Essentials Sample Questions:

Question #1

Which four statements describe what is unique about Cost Accounting for items received into inventory as consigned?

  • A. Consigned items can appear on inventory reports with information about the eventual value of the consigned item
  • B. The quantity is tracked in inventory but not as an asset until there is an ownership event
  • C. Consigned items cannot appear on inventory reports with information about the eventual value of the consigned item.
  • D. The liability for a consigned item occurs when there is an ownership event.
  • E. A consumption can automatically trigger a momentary ownership transaction before the consumption transaction.
  • F. There is no difference between owned inventory and consigned inventory.
Reveal Solution  Discussion  0

Correct Answer: A,C,D,F  🗳️

Question #2

Your client has accounting rules that need specific customization. Which two options allow them to accomplish this"1

  • A. Journal entry rule sets do not require accounting rules.
  • B. The subledger journal entry rule set does not need the same accounting event class as the accounting method.
  • C. The subledger journal entry rule set does not need the same accounting event type as the accounting method.
  • D. Copy and rename predefined subledger journal entry rule sets before modifying them.
  • E. Use a different journal entry rule set for each ledger with a different accounting convention.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #3

Which predefined report should you use from Oracle Business Intelligence Publisher to manage the balance of accrued supplier liabilities for a business unit?

  • A. Uninvoiced Receipt Accrual Report
  • B. Accrual Reconciliation Report
  • C. Accrual Clearing Report
  • D. Receipt Accounting Real Time Report
  • E. Accrual Supplier Liability Report
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

Which two outcomes can happen in create accounting when an account combination returned is end dated?

  • A. An alternate account will be used if provided.
  • B. Suspense accounts cannot be used.
  • C. The preprocessor will pre-warn about this error.
  • D. The original account is stored on the journal line.
  • E. An error will always occur.
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

Explanation: Only visible for VCETorrent members. You can sign-up / login (it's free).

Question #5

You are trying to import the purchase order information into Receipt Accounting in the Schedule Process work area. Why can't you see this process?

  • A. You do not have the role to import purchase order information into Receipt Accounting.
  • B. Purchase order information should not be imported into Receipt Accounting.
  • C. Purchase order information is automatically sent to Receipt Accounting using a real-time method
  • D. This process can only be scheduled and run from the Receipt Accounting work area
  • E. All purchase order information is included in the Transfer Transactions from Receiving to Costing process. There is no separate process.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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