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| Section | Weight | Objectives |
|---|---|---|
| Managerial Accounting Overview | 15% | - Explain cost accounting and integration - Identify key implementation decisions |
| Subledger Accounting | 10% | - Accounting methods and exceptions - Account rules and journal setups |
| Receipt Accounting | 20% | - Overview and work area - Configure accrual options - Processes and reporting |
| Project Enabled Supply Chain | 5% | - Configuration overview - Project work order costing |
| Cost Accounting | 25% | - Costing methods: standard, perpetual, actual - Processing and daily tasks - Setup: organizations, books, elements |
| Standard Costs | 15% | - Create and roll up costs - Analyze variances - Manage scenarios and rates |
| Landed Cost Management | 10% | - Manage charges and routes - Overview and configuration |
1. Which two things must your customer check daily in order to ensure that all their purchase order transactions from that day have been accounted for in Receipt Accounting Distribution?
A) Review their accrual balances and clear them.
B) Review their audit receipt accrual clearing balances.
C) Review their Receipt Accounting processes that show whether any processes failed and why.
D) Review their journal entries, including their sub-ledger accounting events and class where the charges from the purchase orders are going to be charged to.
E) Review their distributions that show the debit and credit information specific to the Receipt Accounting transaction selected.
2. Identify two characteristics of a cost profile.
A) It is where you define which cost method you want to use for the cost component to cost element mapping.
B) It is used for calculating the estimated cost of manufactured items under different scenarios.
C) It is where you define your Cost Accounting policies.
D) It is used for Receipt Accounting.
3. Your client wants to view Landed Cost Variance. Which pair of search options are available to view Landed Cost Variance?
A) Inventory Organization and Cost Organization
B) Business Unit and Inventory Organization
C) Business Unit and Legal Entity
D) Legal Entity and Cost Organization
E) Inventory Organization and Legal Entity
F) Business Unit and Cost Organization
4. Identify two characteristics of an expense pool. (Choose two.)
A) It helps you analyze under-absorption and over-absorption of expenses that you want to capitalize onto the balance sheet as inventory value.
B) You can define the name of your expense pool, but you cannot define more than one.
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 is used only for analyzing gross margins on noninventory sales of services.
5. Identify two characteristics of Landed Cost charge names.
A) Charge names cannot be used to tie an invoice to a trade operation.
B) You can use multiple currencies within a trade operation for the same charge name on different lines.
C) Duty is a seeded charge name for Landed Cost.
D) Charge names cannot be associated with a PO schedule.
E) You can modify a charge name until it is associated with a trade operation.
Solutions:
| Question # 1 Answer: A,D | Question # 2 Answer: C,D | Question # 3 Answer: B | Question # 4 Answer: A,C | Question # 5 Answer: B,E |
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