Oracle Updated 1z0-1059-24 Exam Questions and Answers by katie

You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.

You value the accrual at estimated consideration and it is a monetary debt.

You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.

You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

If effective periods are not defined. Revenue Management uses the General Ledger calendar.

Effective Periods are used for standalone selling prices and for creating journal entries.

Gaps between periods are not allowed.

You cannot have overlapping periods.

Effective Periods only define the rage where standalone selling prices of an item should be effective.

Oracle Revenue Management Cloud

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Oracle General Ledger

Oracle Subledger Accounting

when the consultant is deployed to assist customer on 10-Sep-2017

when the product is shipped on 15-Sep-2017

when the sales order Is booked on 14-Sep-2017

when an invoice is issued on 20-Sep-2017