How important is having a 1Z0-1074-21 study guide and using a practice test to ace the Oracle Cost Management Cloud 2021 Implementation Essentials exam? Learn more about the certification in this article.
Overview of the 1Z0-1074-21 Certification:
A 1Z0-1074-21, Oracle Cost Management 2021 Certified Implementation Specialist, has proved the knowledge required to manage landed costs, manage sub-ledger accounting, manage cost scenarios, and configure costing methods and Project Enabled Supply Chain. Individuals who earn the 1Z0-1074-21 certification can perform receipt accounting processes and analyze and resolve standard cost variances.
The multiple-choice type 1Z0-1074-21 exam is 90 minutes long and asks 55 questions. A candidate should get a 62% mark to pass the exam.
Some Proven Tips to Pass the 1Z0-1074-21 Exam:
Make Your Knowledge Base Stronger:
Many candidates appear for the 1Z0-1074-21 exam, but those who pass have the most practical knowledge regarding the 1Z0-1074-21 syllabus areas. A candidate needs to learn the following topics during the exam preparation-
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Projects Enabled Supply Chain
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Costing and Inventory Foundations
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Subledger Accounting
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Landed Cost Overview
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Standard Costs
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Cost Accounting Overview
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Receipt Accounting Overview
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Managerial Accounting Overview
Plan the 1Z0-1074-21 Exam Study Schedule:
You might read about the success stories of different candidates. Don't try to follow their exact path. Every candidate is different; their level of grasping is different; therefore, create your schedule to stay organized. Follow the valuable resources from successful stories but stick to your timeline. Choose the time of the day when you feel most productive and relaxed to learn. Stay calm and study for at least two-three hours during that time.
Set the Syllabus Goal:
Which areas you want to cover on a particular day should be fixed before you start studying; your ultimate goal should be to cover two to three topics from the core, make notes on them, and study daily. Cover in small portions daily to avoid the last-minute hassle.
Enhance Your Knowledge with Experts:
Oracle training plays an important role in your success. You can learn directly from the experts and work on the theoretical and practical aspects.
Obtain More Knowledge:
Once you are confident about the syllabus topics, try to find some sample questions and video materials to boost your preparation.
More Practice with 1Z0-1074-21 Practice Test Means Better Time Management:
You might be aware of the exam structure, and you have prepared well, but can you attempt all questions in the exam hall with poor time management? Many aspirants fail in the IT exam attempts due to a lack of time management. If you engage in quality practicing with 1Z0-1074-21 practice tests, you will improve your time management by solving the real exam-type mock tests. Not only this, you will get valuable insights on your preparation level and could score better in the future.
What Is Oracle Cost Management Cloud?
Oracle Cost Management Cloud Services help cost professionals track, capture, and analyze costs associated with inventory items as they move through the supply chain. Oracle Cost Management through the cloud provides the following benefits:
Manage Global Inter-Company Transactions Effectively:
Generate the financial flow execution for internal trade between parties separately from the physical movement of goods with Oracle Supply Chain Financial Orchestration. This configurable application balances all the financial relationships resulting from trade between internal parties. The framework offers to model flexible financial flows that define the parties involved, the nature of trade relationships, and business rules for documentation and accounting.
Flexibility for Statutory and Management Cost Reporting
Today’s complex business situations require real-time visibility to product costs and inventory investment geared to the demands of a global organization for regulatory reporting, portfolio pricing, and quoting decisions. Oracle Cost Management is an advanced cost accounting tool that aids companies in managing their product costing effectively and inventory accounting business flows. The solution allows companies to maintain multiple cost books and financial ledgers better to meet external regulatory and internal management reporting needs. In addition, it increases product cost accuracy by providing a flexible cost infrastructure. The solution allows cost accountants to define the level of cost calculations and greatly reduces manual cost maintenance tasks by providing automated rules-based engines and efficient fault-tolerant cost processors tuned for high volume transaction environments.
Bottom Line:
Proper cost management and accounting are crucial for any organization. Today’s global business environments need transactions synchronization between entities and across countries. Oracle Cloud Cost Management and the OCS level 1Z0-1074-21 certification ensures the proper transaction flow in a secured automated business flow. Moreover, this advanced cost accounting solution helps organizations effectively manage their product costing and inventory accounting business demands. Thus, having the 1Z0-1074-21 certification proves to be valuable to make a better career. So, hurry up and work on the dream certification.