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| Section | Objectives |
|---|---|
| Revenue Contracts and Performance Obligations | - Contract creation and management - Identification of performance obligations - Revenue allocation rules |
| Oracle Revenue Management Cloud Service Overview | - Business use cases and industry applications - Core concepts of Revenue Management Cloud Service |
| Revenue Recognition and Accounting Rules | - Standalone selling price allocation - Adjustments and reallocation scenarios - Revenue recognition models |
| Integration and Data Flow | - Integration with Oracle ERP Cloud - Source data ingestion and transformation |
| Reporting and Troubleshooting | - Error handling and reconciliation - Standard reporting capabilities |
| System Configuration and Setup | - Enterprise structures and accounting setup - Initial setup and configuration options |
1. Your customer ships machines, and can recognize revenue for each machine after the machine has been delivered to a customer without waiting for complete satisfaction of an entire performance obligation. How would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for these performance obligations at a point in time?
A) by setting SM to "Allow Partial" and SMM to "Quantity"
B) by setting SM to "Requires Complete" and SMM to "Quantity"
C) by setting SM to "Requires Complete" and SMM to "Percent"
D) by setting SM to "Allow Partial" and SMM to "Period"
E) by setting SM to "Requires Complete" and SMM to "Period"
2. Revenue Management creates journal entries from a contract In order to recognize revenue properly. Which three event types are used by Revenue Management to create these journal entries?
A) Initial Performance
B) Performance Obligation Satisfied
C) Performance Obligation Billed
D) Revenue Recognized
E) Standalone Selling Prices Allocated
3. Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?
A) your invoiced goods and services less those goods and services that you have not yet delivered
B) Unearned Revenue
C) your debt to customers for goods and services you are obliged to deliver to them by either party acting
D) your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered
4. What does the creation of an allocation allow you to determine?
A) an allocation of the expected consideration over the performance obligations as if you had sold them separately
B) the ability not to revise previously reported revenue for revision, corrections, and other changes
C) the fair value of each performance obligation
D) the maximum amount of revenue you can recognize soonest, postponing the minimum until later
5. You define a Contract Identification Rule that uses the following source document attributes to match transaction lines:
Bill-to Customer Party Identifier
Extensible Header Character Attribute 4
Based the data displayed:
How many contracts will be created In Revenue Management?
A) 5
B) 4
C) 0
D) 3
E) 1
Solutions:
| Question # 1 Answer: E | Question # 2 Answer: A,B,D | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: D |
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