Oracle Cost Management Cloud 2017 Implementation Essentials : 1z1-987

  • Exam Code: 1z1-987
  • Exam Name: Oracle Cost Management Cloud 2017 Implementation Essentials
  • Updated: Oct 21, 2026
  • Q & A: 70 Questions and Answers

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About Oracle 1z1-987 Exam

Get an edge on your Oracle Cost Management Cloud 2017 Implementation Essentials journey with premium 1z1-987 practice tests from VCETorrent. We offer 70 questions with comprehensive updates throughout 2026, giving you the exact preparation you need.

Oracle 1z1-987 Exam Syllabus Topics:

SectionWeightObjectives
Receipt Accounting and Landed Cost15%- Landed Cost configuration and processing
- Purpose and functionality of Receipt Accounting
- Accounting for purchase receipts and adjustments
Setting Up Cost Accounting20%- Setting up item cost controls
- Creating and managing Cost Organizations
- Configuring Cost Elements and Cost Components
- Defining Cost Books and Cost Profiles
Cost Accounting Overview15%- Managerial Accounting concepts
- Key implementation decision points
- Integration with other Oracle Cloud modules
Cost Processing and Calculations20%- Cost adjustments and corrections
- Performing cost rollups and updates
- Processing cost accounting transactions
- Period close and reconciliation processes
Cost Analysis and Reporting15%- Analyzing inventory valuation and margins
- Using Cost Management dashboards
- Generating cost accounting reports
Security, Integration and Maintenance15%- Integrating with external systems
- Troubleshooting common cost issues
- Defining security access for cost accounting

Frequently Asked Questions About Oracle Cost Management Cloud 2017 Implementation Essentials

The 1z1-987 exam is a core requirement for the Oracle Cost Management Cloud 2017 Certified Implementation Specialist certification at the Specialist level. Earning this validates your skills for credentials like Oracle Financials Cloud, Oracle Supply Chain Management Cloud.

Candidates will face 70 questions and have 105 minutes to complete the exam. This means you need strict time management. We strongly recommend taking timed practice tests to ensure you can maintain a steady pace without rushing when under actual exam time pressure.

The official examination fee is $245 USD, and you must achieve a score of 64% to pass. Since retaking the test requires paying the full fee again, utilizing accurate practice materials for thorough self-assessment beforehand is crucial to protect your investment.

Candidate requirements include: No mandatory prerequisites; recommended experience in Oracle Cloud Financials or Supply Chain applications. Please verify all eligibility details on the official certification page before scheduling your appointment.

Registration is handled through official testing partners. The exam is delivered via Online proctored or Onsite at Pearson VUE test centers. You can sign up here:

The vendor suggests following official learning paths to build a foundational understanding:

Once you complete your training, use the 70 practice questions from VCETorrent to refine your exam readiness.

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The syllabus is divided into 6 main domains. Key areas include "Cost Accounting Overview" (15%), "Cost Processing and Calculations" (20%), "Setting Up Cost Accounting" (20%). For a comprehensive breakdown of all measured skills, please review the complete exam outline table provided above.

Oracle Cost Management Cloud 2017 Implementation Essentials Sample Questions:

Question #1

Your client uses actual costing and needs to cost to the subinventory level. They have a few subinventories that hold normal goods and one subinventory that holds returned goods. They want their normal goods subinventories to be costed differently from their returned goods subinventory.
Which cost policy supports this requirement?

  • A. Manually create one valuation unit for the normal goods subinventories and one valuation unit for the returned goods subinventory.
  • B. Create a separate cost book for the normal goods subinventories and one cost book for the returned goods subinventory Add both cost books to the same cost organization.
  • C. Create a separate cost organization for the normal goods subinventories and one cost organization for the returned goods subinventory.
  • D. Manually create one cost profile for the normal goods subinventories and one cost profile for the returned goods subinventory.
  • E. EnaWe the inventory organization that holds the subinventories to be costed to the subinventory level by changing the organization parameter field from "Costing Level" to "Subinventory."
Reveal Solution  Discussion  0

Correct Answer: E  🗳️

Question #2

Which three features are included in Receipt Accounting?

  • A. Review Item Costs
  • B. Create Receipt Accounting Distribution
  • C. Review Journal Entries
  • D. Adjust Receipt Accrual Clearing Balances
  • E. Analyze Standard Purchase Cost Variances
Reveal Solution  Discussion  0

Correct Answer: B,C,D  🗳️

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Question #3

Select the two valid relationships between subledger components.

  • A. The accounting method groups journal entry rule sets by Event Class and Event Type.
  • B. Journal entry rule sets hold journal rules and accounting rules.
  • C. The accounting method holds the accounting rules by Event Class and Event Type.
  • D. The journal lines hold the journal entry rule sets.
  • E. Journal entry rules are used to hold accounting rules.
Reveal Solution  Discussion  0

Correct Answer: B,E  🗳️

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Question #4

You have configured your expense items to accrue at receipt. You have created a few purchase orders and want to verify that the supplier invoices have been created.
Which accounting entries signal this process has taken place?

  • A. Debit Expense, Credit Receiving Inspection
  • B. Debit Receiving Inspection, Credit Accrued Liability
  • C. Debit Expense, Credit Expense Accrual
  • D. Debit Charge Account (expense or inventory), Credit Receiving Inspection
  • E. Debit Accrued Liability, Credit Accounts Payable
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #5

Which three cost planning tasks can be performed in the Cost Accounting work area?

  • A. Analyzing and Comparing Costs
  • B. Review Item Costs
  • C. Estimating Standard Costs for Assemblies
  • D. Manage Cost Accounting Periods
  • E. Review Work Order Costs
  • F. Manage Resource Rates
Reveal Solution  Discussion  0

Correct Answer: C,E,F  🗳️

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