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NEW QUESTION # 43
Which statement correctly describes what happens to parent entities during consolidation?
- A. From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity.
- B. Since parent entities are tagged as dynamic calc, the consolidation has no effect on the entity dimension.
- C. The changes in the relational database are synced to the underlying Essbase cube.
- D. The data in the FCCS_Intercompany Eliminations Data Source dimension member is subtracted from the FCCS_TotalInputAndAdjusted Data Source dimension member for each descendant and then added together.
Answer: A
NEW QUESTION # 44
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)
- A. FX Rates - Opening
- B. FX Rates - Ending
- C. FX Rates - Average
- D. FX Rates - None
- E. FX Rates - Historical
Answer: B,C
Explanation:
When configuring default translation methods for Flow and Balance accounts, two rate account options are available: FX Rates - Average and FX Rates - Ending. These rate account options determine which exchange rate is used to translate data from local currency to reporting currency. FX Rates - Average uses the average exchange rate for the period, which is suitable for flow accounts that capture movements within the period. FX Rates - Ending uses the ending exchange rate for the period, which is suitable for balance accounts that represent a point in time. The other rate account options, such as FX Rates - Historical, FX Rates - Opening, and FX Rates - None, are not available when configuring default translation methods for Flow and Balance accounts.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 48; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-2.
NEW QUESTION # 45
How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application?
- A. Add a new label for a currency when creating a new Entity member in the Reporting Currency attribute field.
- B. Enable a dimension for Currency after application creation via a Metadata load.
- C. During application creation, select the Multicurrency option of "No" and insert additional currencies within the Currency dimension.
- D. During application creation, select the Multicurrency option of "Yes".
Answer: B
Explanation:
Enable a dimension for Currency after application creation via a Metadata load.
NEW QUESTION # 46
Which two are insertable report objects when designing a report in Financial Reporting Studio? (Choose two.)
- A. Footer
- B. Chart
- C. Grid
- D. Header
Answer: B,C
Explanation:
Grid and Chart are two types of insertable report objects when designing a report in Financial Reporting Studio. Financial Reporting Studio is a tool that allows you to create reports based on the data in Financial Consolidation and Close using various report objects, such as grids, charts, text boxes, images, etc. A Grid report object displays data in rows and columns with optional calculations and formatting. A Chart report object displays data in graphical form with different chart types, such as bar, pie, line, etc. The other options, such as Header and Footer, are not insertable report objects but report sections that can contain report objects.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 51-52; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-2.
NEW QUESTION # 47
A client company has expanded quickly in the past year and has recognized the need to move their financial team off spreadsheets and to a more verifiable and automated solution.
Which two requirements from this team would Oracle's Financial Consolidation and Close Cloud Service satisfy? (Choose two.)
- A. provide the ability to collaborate during close and analyse transaction detail in real time
- B. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness
- C. a configurable reporting solution with prebuild dimensions, KPIs, reports along with a process to adjust data, monitor the close status and view data and compliance results in dashboards
- D. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint
- E. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls
Answer: C,E
NEW QUESTION # 48
For which scenario would an On-Demand rule be an appropriate solution?
- A. To allocate data to base entities prior to consolidation
- B. To import data into a form or Smart View worksheet
- C. To perform a custom currency translation for a subset of accounts
- D. To add a column with a calculation to a report
Answer: C
Explanation:
Performing a custom currency translation for a subset of accounts is a scenario where an On-Demand rule would be an appropriate solution. An On-Demand rule is a type of business rule that can be executed manually by users on forms or Smart View worksheets. An On-Demand rule can perform calculations or transformations on selected data cells without affecting other data cells. For example, an On-Demand rule can be used to translate data from local currency to reporting currency using a different exchange rate than the default one for a subset of accounts.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 61-62; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.
NEW QUESTION # 49
Which two members of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)
- A. FCCS_No Data Source
- B. FCCS_Intercompany Eliminations
- C. FCCS_Journal Input
- D. FCCS_PCON
Answer: B,C
Explanation:
Optional - Only if selected during application creation.https://www.bisptrainings.com/pdf/pdf_docs/OracleFCCSGettingStartedGuideII-20191116111928.pdf
NEW QUESTION # 50
What will Financial Consolidation and Close (FCCS) do when adding a new member that is an expense type account under a parent that is set as an income type account?
- A. this setting will not affect additions or subtractions to the next parent
- B. add amounts consolidated to the parent
- C. subtract amounts consolidated to the parent
- D. you can't load data to this account
Answer: C
NEW QUESTION # 51
You need
a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules.
Which type of report can you run to accomplish this?
- A. Journal Report
- B. Intercompany Report
- C. Consolidation Report
- D. Financial Report
Answer: C
NEW QUESTION # 52
Changes in the balance of Accounts Payable are captured on a company's Cash Flow Report.
Which two dimension members must be built into the row of the company's Cash Flow to report the impact of Accounts Payable? (Choose two.)
- A. FCCS_CashChange movement member
- B. FCCS_Total Balance Sheet - Cash and NonCash account member
- C. FCCS_CashFlow_Operating movement member
- D. FCCS_CashFlow_Accounts Payable account member
- E. FCCS_Accounts Payable account member
Answer: B,D
NEW QUESTION # 53
Which statement is true regarding Data Management categories?
- A. The category's time frequency allows data to be loaded to daily, weekly, and monthly scenarios.
- B. Application mapping is not required if the global mapping target category is exactly correct.
- C. Categories must begin with FCCS_ to match their Financial Consolidation and Close counterparts.
- D. Categories are defined on the Global Mapping tab and then the frequency is specified on the Application Mapping tab
Answer: C
NEW QUESTION # 54
A new Sheet tab in Excel is copied from an existing tab that contains a Smart View query, but clicking Refresh does not refresh the data and the Smart View (Point of View) POV bar does not display.
Which additional step is required to pull data in the new tab and change the POV?
- A. Close out of Excel, and relog in to Smart View.
- B. Activate the Connection.
- C. Disconnect from the Smart View connection, and relog in.
- D. Change one of the Row or Column dimension members and click Refresh.
Answer: D
NEW QUESTION # 55
Which financial close related component is NOT a part of the Financial Consolidation and Close Cloud integrated product suite?
- A. Data Management
- B. Financial Close Management
- C. Supplemental Data Management
- D. Process Management
- E. Account Reconciliation Management
Answer: E
NEW QUESTION # 56
What is the primary function of enabling the Track Intercompany Elimination option during the application creation?
- A. enables the application to perform Intercompany eliminations
- B. enables the Elimination member in the Consolidation dimension
- C. process will separate total elimination values by Data Source.
- D. enables the application to include Intercompany data.
Answer: C
NEW QUESTION # 57
In Data Integration integrations, which two attributes are linked to the location selected for the integration? (Choose two.)
- A. Target application
- B. Data tile name
- C. Member mappings
- D. Scenario
Answer: A,C
Explanation:
In Data Integration integrations, the two attributes that are linked to the location selected for the integration are:
Target application: This is the application where the data will be loaded to. You can select only one target application per location.
Member mappings: These are the rules that map the source data members to the target application members. You can create or edit member mappings for each location.
The other options are not linked to the location. The scenario is selected in the Execute Integration dialog box, and the data file name is specified in the Workbench.Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 9-4.
NEW QUESTION # 58
To show the Intercompany account and matching account balances on the Intercompany Matching Report, you make which selection?
- A. Elimination Consolidation Dimension member
- B. Intercompany Partners
- C. Intercompany Accounts
- D. Intercompany Plug Accounts
Answer: B
Explanation:
Intercompany Partner (ICP) Matching reports list the intercompany transactions that are eliminated duringconsolidation. Intercompany transactions are managed across the Intercompany Partner dimension.https://docs.oracle.com/cd/E57185_01/HFMAG/ch09s02.html
NEW QUESTION # 59
In the approval process, which four dimensions constitute an approval unit? (Choose four.)
- A. Period
- B. Year
- C. Account
- D. Data Source (Entity)
- E. Scenario
Answer: A,B,D,E
Explanation:
In the approval process, the four dimensions that constitute an approval unit are:
Year: This is the fiscal year for which the data is submitted.
Scenario: This is the type of data that is submitted, such as Actual, Budget, or Forecast.
Period: This is the time period within the fiscal year for which the data is submitted, such as Month, Quarter, or Year.
Data Source (Entity): This is the combination of Data Source and Entity dimensions that identifies the source and destination of the data.
The other options are not dimensions that constitute an approval unit. Account is not a dimension that is used in the approval process, as it represents all accounts in the application. Data Source (Entity) already includes Data Source as a sub-dimension, so it does not need to be specified separately.[Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 15; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-13.
NEW QUESTION # 60
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