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NEW QUESTION # 20
For which four dimensions does Financial Consolidation and Close maintain calculation status? (Choose four.)
- A. Period
- B. Scenario
- C. Consolidation
- D. Data Source
- E. Year
- F. Entity
Answer: A,B,E,F
Explanation:
Explanation
Financial Consolidation and Close maintains calculation status for four dimensions: Entity, Period, Scenario, and Year. These dimensions are used to define an approval unit, which is a unit of work that can be calculated, consolidated, translated, and approved. The calculation status indicates the progress of the approval unit through the consolidation process. The other dimensions, such as Data Source, Consolidation, and View, do not have calculation status. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 23-24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-1.
NEW QUESTION # 21
Where can you set the default member for the Currency dimension in a Data Integration integration?
- A. Location Attributes in the Create Integration dialog box
- B. Options tab of the Application Details dialog box
- C. Run Integration dialog box
- D. Map Members tab in the Create Integration dialog box
Answer: A
Explanation:
Explanation
The default member for the Currency dimension in a Data Integration integration can be set in the Location Attributes in the Create Integration dialog box. This attribute specifies the currency that will be used for loading data if no currency mapping is defined. The other options do not allow setting the default member for the Currency dimension. The Map Members tab in the Create Integration dialog box is used to map members from source to target dimensions. The Options tab of the Application Details dialog box is used to set general options for Data Integration, such as logging level, parallel threads, etc. The Run Integration dialog box is used to execute an integration and monitor its status. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-4.
NEW QUESTION # 22
Which three dimensions can be included in an approval group? (Choose three.)
- A. Multi-GAAP
- B. Scenario
- C. Movement
- D. Account
- E. Entity
Answer: B,D,E
Explanation:
Explanation
The three dimensions that can be included in an approval group are:
Entity: This is the dimension that represents the organizational structure of the business. You can include entities or entity groups in an approval group to define the scope of data submission and approval.
Account: This is the dimension that represents the financial accounts of the business. You can include accounts or account groups in an approval group to define the type of data that needs to be submitted and approved.
Scenario: This is the dimension that represents the type of data that is submitted, such as Actual, Budget, or Forecast. You can include scenarios or scenario groups in an approval group to define the purpose of data submission and approval.
The other options are not dimensions that can be included in an approval group. Multi-GAAP is a dimension that represents the different accounting standards that are used to report financial data, such as IFRS or US GAAP. Movement is a dimension that represents the changes in account balances over time, such as Opening Balance, Closing Balance, or Net Movement. : Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 15; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-14.
NEW QUESTION # 23
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)
- A. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
- B. If a shared member is selected for a rule, the primary instance of the member is selected as well.
- C. Selecting the primary instance of a member does not include shared members.
- D. Selecting a shared member for a rule does not include its primary instance.
Answer: A,D
Explanation:
Explanation
The following statements are true about shared members in Valid Intersection rules:
If the primary instance of the member is selected for a rule, all shared members for the instances are included. This means that data can be entered or calculated for any shared member of the primary member.
Selecting a shared member for a rule does not include its primary instance. This means that data can be entered or calculated only for the specific shared member, not for the primary member or other shared members. The other statements are not true about shared members in Valid Intersection rules. If a shared member is selected for a rule, the primary instance of the member is not selected as well. Selecting the primary instance of a member does include shared members. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 69; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-6.
NEW QUESTION # 24
For your business process, owners of approval units should be able to lock and unlock data without going through an approval process.
Which action should you perform?
- A. Select users with the Service Administrator security role.
- B. Delete the default Approval Unit hierarchy.
- C. Select the Consolidation template when setting up the Approval Unit hierarchy.
- D. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
Answer: D
Explanation:
Explanation
The Consolidation Bottom Up template allows owners of approval units to lock and unlock data without going through an approval process. This template is suitable for organizations that do not require a formal approval process for data submission, but still want to control data access and track data status. The Consolidation template, on the other hand, requires owners of approval units to submit data for approval before they can lock it. The Service Administrator security role does not affect the approval process, and deleting the default Approval Unit hierarchy would disable the approval functionality altogether. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 15; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-14.
NEW QUESTION # 25
Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?
- A. Pre-built integrations to combine narrative and data to produce both internal and external reporting packages
- B. Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow
- C. Calculations, dashboards, and reports to provide analysis for cash flow modeling
- D. Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning
Answer: B
Explanation:
Explanation
The components that are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution are calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow. These components enable you to perform financial consolidation and close processes with best practices, efficiency, and accuracy. The calculations include predefined consolidation rules, currency translation methods, intercompany eliminations, ownership management, etc.
The dashboards and reports provide insights into the consolidation results, process status, data quality, etc. The data source tracking allows you to track the origin and adjustments of data from different sources. The automated cash flow generates cash flow statements based on the movement accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 11-12; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 1-2.
NEW QUESTION # 26
Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)
- A. Ending Rate
- B. Average Rate
- C. Opening Rate
- D. Local Rate
Answer: A,B
Explanation:
Explanation
The seeded exchange rate forms display two rate accounts: Average Rate and Ending Rate. These rate accounts show the exchange rates used for translating data from local currency to reporting currency. The Average Rate account shows the average exchange rate for the period, which is used for translating flow accounts. The Ending Rate account shows the ending exchange rate for the period, which is used for translating balance accounts. The other rate accounts, such as Local Rate, Opening Rate, and Historical Rate, are not available in the seeded exchange rate forms. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Study Guide, page 49-50; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-4.
NEW QUESTION # 27
For which task categories is Audit enabled by default?
- A. All task categories
- B. Data only
- C. No task categories
- D. Journals
Answer: A
Explanation:
Explanation
Audit is enabled by default for all task categories in Financial Consolidation and Close. Audit is a feature that allows you to track the changes made to data, metadata, security, application settings, etc. in Financial Consolidation and Close. You can view the audit records in the Audit page or export them to a file. Audit is enabled by default for all task categories, such as Data, Journals, Metadata, Security, etc., but you can disable it for specific task categories if needed. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 85; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-5.
NEW QUESTION # 28
Which two are members in the Consolidation dimension? (Choose two.)
- A. FCCS Proportion
- B. FCCS Data Input
- C. FCCS Entity Input
- D. FCCS Total input And Adjusted
Answer: A,C
Explanation:
Explanation
The two members that are in the Consolidation dimension are:
FCCS_Entity Input: This is the member that represents the input data for each entity before consolidation. It shows the data in the entity's default currency without any adjustments or eliminations.
FCCS_Proportion: This is the member that represents the data for each entity after applying the ownership percentage. It shows the data in the parent entity's currency after currency translation and ownership adjustment.
The other options are not members of the Consolidation dimension. FCCS Data Input is a member of the Data Source dimension, not the Consolidation dimension. It is used to identify data that is entered or loaded directly into the application. FCCS Total Input And Adjusted is a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from input accounts and adjustment accounts.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 31; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-8.
NEW QUESTION # 29
Which statement is true of journals created from Recurring templates?
- A. The initial status of journals created from Recurring templates is Approved.
- B. Journals for recurring templates are created automatically when you open a period for journals.
- C. The initial status of journals created from Recurring templates is Posted.
- D. The line items in journals created from Recurring templates are read only.
Answer: B
Explanation:
Explanation
Journals for recurring templates are created automatically when you open a period for journals. Recurring templates are used to create journals that repeat in multiple periods with the same or different amounts. You can specify the frequency, start period, end period, and amount type for recurring templates. The initial status of journals created from recurring templates is Unposted, not Approved or Posted. The line items in journals created from recurring templates are editable, not read only. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 75-76; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 10-7.
NEW QUESTION # 30
In the approval process, which four dimensions constitute an approval unit? (Choose four.)
- A. Period
- B. Scenario
- C. Data Source (Entity)
- D. Year
- E. Account
Answer: A,B,C,D
Explanation:
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. References: [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 # 31
Which two are insertable report objects when designing a report in Financial Reporting Studio? (Choose two.)
- A. Header
- B. Chart
- C. Footer
- D. Grid
Answer: B,D
Explanation:
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. References: 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 # 32
In Data Integration integrations, which two attributes are linked to the location selected for the integration?
(Choose two.)
- A. Data tile name
- B. Scenario
- C. Target application
- D. Member mappings
Answer: C,D
Explanation:
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 # 33
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
- A. Each period in the year must consolidate separately.
- B. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
- C. There is no reason to consolidate years sequentially.
- D. Parent account calculations depend on the sequencing.
Answer: B
Explanation:
Explanation
The reason why years should be consolidated sequentially; i.e., first 2018, then 2019, then 2020, is to ensure that rollforward calculations are correct. Rollforward calculations are calculations that track the changes in balance sheet accounts from one period to another. For example, if an account has an opening balance of 100 in 2018 and a closing balance of 120 in 2018, the rollforward calculation will show a movement of 20 for
2018. If the same account has a closing balance of 150 in 2019, the rollforward calculation will show a movement of 30 for 2019. However, if the years are not consolidated sequentially, the rollforward calculations will not be accurate. For example, if 2019 is consolidated before 2018, the rollforward calculation will show a movement of -50 for 2018, which is incorrect. The other options are not reasons why years should be consolidated sequentially. Parent account calculations do not depend on the sequencing, each period in the year does not need to consolidate separately, and there is a reason to consolidate years sequentially. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-7.
NEW QUESTION # 34
Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)
- A. Control
- B. Consolidation Percentage
- C. Ownership Percentage
- D. Minority Interest Percentage
- E. Consolidation Method
Answer: B,C,E
Explanation:
Explanation
The three components that can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled are Consolidation Percentage, Ownership Percentage, and Consolidation Method. These components are part of the ownership details that define how an entity is consolidated with its parent entity. You can manually edit these components on the Manage Ownership page for each entity, scenario, year, and period. The other components, such as Control and Minority Interest Percentage, are not editable on the Manage Ownership page. They are either calculated automatically based on the ownership percentage or derived from the consolidation method. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 25-26; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-6.
NEW QUESTION # 35
Where do you set the Intercompany Entities Aggregation option?
- A. In the member properties of the Intercompany Top member
- B. On the Properties page of the Intercompany dimension
- C. In the member properties of the Intercompany Entities member
- D. In the Setup Wizard during business process creation
Answer: C
Explanation:
Explanation
The place where you set the Intercompany Entities Aggregation option is in the member properties of the Intercompany Entities member. This is a system member in the Entity dimension that represents all entities that have intercompany data. You can set its aggregation option to either Dynamic Calc or Store, depending on whether you want to calculate or store its values. The other options are not places where you set the Intercompany Entities Aggregation option. In the member properties of the Intercompany Top member, you can set other options related to intercompany data, such as Intercompany Partner, Intercompany Elimination Entity, and Intercompany Elimination Method, but not Intercompany Entities Aggregation. On the Properties page of the Intercompany dimension, you can set options related to intercompany matching reports, such as Report Currency and Report Precision, but not Intercompany Entities Aggregation. In the Setup Wizard during business process creation, you can enable or disable intercompany data for your business process, but not set Intercompany Entities Aggregation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 35; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-11.
NEW QUESTION # 36
For business processes that use the Make Period and Movement Dense feature, which statement is FALSE?
- A. Account is a Sparse dimension.
- B. All parent members in the Account dimension must have a Solve Order value of 58.
- C. The View dimension stores only periodic data.
- D. You cannot add member formulas to members of the Movement dimension.
Answer: B
Explanation:
Explanation
The statement that is false about when Intercompany Data is enabled is: All parent members in the Account dimension must have a Solve Order value of 58. This statement is not true because the Solve Order value of 58 is only required for the parent members of the Movement dimension, not the Account dimension. The Solve Order value determines the order of calculation for members with formulas. The Movement dimension uses a Solve Order value of 58 to ensure that the movement calculations are performed after the account calculations.
The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, intercompany entities must be children of the same parent for eliminations, and the Intercompany Entity attribute must be set to Yes to store intercompany data. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18-19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-10.
NEW QUESTION # 37
Where do you set the Intercompany Entities Aggregation option?
- A. In the member properties of the Intercompany Top member
- B. On the Properties page of the Intercompany dimension
- C. In the member properties of the Intercompany Entities member
- D. In the Setup Wizard during business process creation
Answer: C
NEW QUESTION # 38
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