1z0-1074-22 – Oracle Cost Management Cloud 2022 Implementation Professional

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  A change to a requisition after the purchase order has been created will create a cost adjustment.

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  A revenue recognition event, which in turn triggers a cost of goods sold recognition event, can cause a cost adjustment.

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  A standard cost update will create an inventory value adjustment.

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  Authorized users can manually create cost adjustments.

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  When a supplier invoice is processed in accounts payable, it can cause an adjustment to the inventory value and the cost of goods sold if the amounts processed for payment are different from the estimated amount on the purchase order.

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  A retroactive purchase order price adjustment can cause an adjustment to the inventory value and the cost of goods sold.

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  Run the "Activate Accounting Methods" process.

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  Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.

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  Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.

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  Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task

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  Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.

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  Debit Charge Account (expense or inventory), Credit Receiving Inspection

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  Debit Accrued Liability, Credit Accounts Payable

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  Debit Receiving Inspection, Credit Accrued Liability

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  Debit Expense, Credit Receiving Inspection

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  Debit Expense, Credit Expense Accrual