Oracle Updated 1z0-1057-24 Exam Questions and Answers by darcie-mae

The precedence order that is used by the system for labor schedules to distribute payroll cost is Assignment > Assignment Element > Element. This means that the system first looks for a labor schedule that is assigned to the employee assignment, then for a labor schedule that is assigned to the payroll element of the employee assignment, and finally for a labor schedule that is assigned to the payroll element itself. The system uses the first labor schedule that it finds in this order to distribute the payroll cost to projects and tasks based on the hours and rates defined in the schedule. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356121

Budgetary control is a feature that allows you to monitor and control project costs against approved budgets. You can enter the amounts in the budget versions for these projects at two levels: Task and Project. These levels correspond to the budgetary control levels that are defined for the project type. You can also view and compare the budget amounts and actual costs at these levels using reports and dashboards. Expenditure Type, Top Resource, and Expenditure Category are not levels at which you can enter the amounts in the budget versions for these projects. These are attributes that can be used to group and filter the budget and actual amounts for reporting purposes. Reference:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-budgets-and-forecasts.html#OAPFM2356191

The workflows in Project Financial Management are business processes that automatethe approval and notification tasks for various project transactions and events. Two of the workflows in Project Financial Management are:

Project Status Change: This workflow manages the approval and notification tasks for changing the status of a project or task from one value to another. For example, when a project or task is submitted for approval, this workflow routes the request to the appropriate approvers and notifies them of the action required.

Expenditure Item Adjustment: This workflow manages the approval and notification tasks for adjusting expenditure items that have been charged to a project or task. For example, when an expenditure item is adjusted by a project manager or a cost accountant, this workflow routes the adjustment to the appropriate approvers and notifies them of the action required. Capital Interest Calculation, Burden Cost Recalculation, and Asset Line Generation are not workflows in Project Financial Management, but processes that perform various calculations and transactions for project costs and assets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-financial-management.html#OAPFM2356161

https://docs.oracle.com/en/cloud/saas/applications-common/ r13-update17d/oafsm/applications-cloud-using-functional-setup-manager.pdf

Functional Setup Manager offers the following:

• Standardized application configuration and setup experience

•Feature opt-in for a best fit configuration

• Flexible processes for managing setup:

◦ Setup by functional areas for an adopt-as-you-go approach

◦ Implementation projects to manage setup

◦ Upload file to enter setup data in bulk

•Guided task list for end-to-end setup requirements

•Export and import services for setup data migration between environments

• Comprehensive reporting on setup data