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NEW QUESTION # 12
In Data Integration integrations, which two attributes are linked to the location selected for the integration?
(Choose two.)
- A. Member mappings
- B. Scenario
- C. Target application
- D. Data tile name
Answer: A,C
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 # 13
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)
- A. Grant the data input users Write access to the dimension members used on the form.
- B. Set the currency on the form to Parent Currency.
- C. Set the consolidation member on the form to FCCS Entity Input.
- D. In the member selection for Entity, do not include shared entities; include only primary instances of entities.
- E. Select level 0 dimension members for POV\ rows, and columns. www*'
Answer: A,C,E
Explanation:
Explanation
The three actions that are consistent with creating a form that allows users to input data are:
Set the consolidation member on the form to FCCS Entity Input. This is the member that represents the input data for each entity before consolidation.
Select level 0 dimension members for POV, rows, and columns. This ensures that the form displays the lowest level of detail for each dimension.
Grant the data input users Write access to the dimension members used on the form. This allows them to enter or modify data on the form.
The other options are not consistent with creating a form that allows users to input data. In the member selection for Entity, you can include shared entities if you want to allow data input for multiple instances of an entity. Setting the currency on the form to Parent Currency would display the data in the parent entity's currency, not the input currency. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 23; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-2.
NEW QUESTION # 14
For which task categories is Audit enabled by default?
- A. Data only
- B. Journals
- C. No task categories
- D. All task categories
Answer: D
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 # 15
For business processes that use the Make Period and Movement Dense feature, which statement is FALSE?
- A. You cannot add member formulas to members of the Movement dimension.
- B. Account is a Sparse dimension.
- C. All parent members in the Account dimension must have a Solve Order value of 58.
- D. The View dimension stores only periodic data.
Answer: C
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 # 16
What member of the Consolidation dimension represents the aggregated value before proportionalization and elimination?
- A. FCCS Entity Total
- B. FCCS Entity Consolidation
- C. FCCS Totallnput And Adisuted
- D. FCCS Contribution
Answer: B
Explanation:
Explanation
The member of the Consolidation dimension that represents the aggregated value before proportionalization and elimination is FCCS Entity Consolidation. This is the member that shows the data for each entity after currency translation but before applying ownership percentage, intercompany eliminations, or adjustments. It is also the member where input data for parent entities is stored. The other options are not members of the Consolidation dimension that represent the aggregated value before proportionalization and elimination. FCCS Entity Total is a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from all accounts in the application. FCCS Total Input And Adjusted is also a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from input accounts and adjustment accounts. FCCS Contribution is a member of the Consolidation dimension, but it represents the data for each entity after applying ownership percentage, not before. 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 # 17
Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member?
- A. A rate was entered into the FCCS Rate Override account.
- B. An intercompany elimination was performed.
- C. The parent entity has a different currency than the child.
- D. An ownership percentage for the entity other than 100 was entered.
Answer: D
Explanation:
Explanation
The statement that explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member is: An ownership percentage for the entity other than 100 was entered. This means that the entity is not fully owned by its parent, and therefore its data is adjusted by the ownership percentage when it is consolidated. The FCCS_Entity Input member shows the data before consolidation, while the FCCS_Proportion member shows the data after applying the ownership percentage. The other options do not explain why the data might be different. A rate entered into the FCCS Rate Override account affects the currency translation, not the consolidation. The parent entity having a different currency than the child also affects the currency translation, not the consolidation. An intercompany elimination is performed after consolidation, not before, and it affects the FCCS_Eliminations member, not the FCCS_Proportion member. 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 5-9.
NEW QUESTION # 18
Which statement is true about an approval process with the Phase Dependency option enabled?
- A. Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
- B. Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
- C. 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
- D. Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
Answer: B
Explanation:
Explanation
The statement that is true about an approval process with the Phase Dependency option enabled is: Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase. The Phase Dependency option is used to enforce sequential submission of data by different entities or groups of entities within an approval unit hierarchy. If this option is enabled, data for an earlier phase must be promoted to a higher level before data for a later phase can be promoted to the same level or higher. For example, if Phase 1 data is at level 2 and Phase 2 data is at level 1, Phase 2 data cannot be promoted to level 2 or higher until Phase 1 data is promoted to level 3 or higher. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-10.
NEW QUESTION # 19
Which four sample ratios can be selected during business process creation? (Choose four.)
- A. Days Sales in Receivables
- B. Contribution Margin
- C. Debt Ratio
- D. Inventory Ratios
- E. Earnings per Share
- F. Gross Margin
Answer: A,C,D,F
Explanation:
Explanation
The four sample ratios that can be selected during business process creation are Inventory Ratios, Debt Ratio, Days Sales in Receivables, and Gross Margin. These ratios are predefined calculations that can be used to measure the financial performance and position of an entity. You can select one or more of these ratios when creating a business process in Financial Consolidation and Close. The other options, such as Contribution Margin and Earnings per Share, are not sample ratios that can be selected during business process creation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 14; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-6.
NEW QUESTION # 20
Which statement correctly describes the Consolidation dimension?
- A. The dimension uses a separate member for data from an entity's level-zero descendants.
- B. The dimension contains members to store non-controlling interest and joint venture data.
- C. The dimension allows users to view data in the parent currency.
- D. The dimension allows users to see input versus journal adjustment data.
Answer: A
Explanation:
Explanation
The Consolidation dimension is used to store data at different levels of consolidation, such as Entity Input, Entity Currency, Parent Currency, etc. The dimension uses a separate member for data from an entity's level-zero descendants, which is called the Contribution member. This member shows the data from the children entities before any adjustments or eliminations are applied. The other statements are not correct descriptions of the Consolidation dimension. The dimension does not allow users to view data in the parent currency (this is done by the Currency dimension), to see input versus journal adjustment data (this is done by the Data Source dimension), or to store non-controlling interest and joint venture data (this is done by the Ownership dimension). References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 15-16; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-8.
NEW QUESTION # 21
Which statement correctly describes what happens to parent entities during consolidation?
- A. Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
- B. The changes in the relational database are synced to the underlying Essbase cube.
- C. For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
- D. Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
Answer: A
Explanation:
Explanation
The statement that correctly describes what happens to parent entities during consolidation is: Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities. This means that the data from the child entities after applying ownership percentage and currency translation is summed up and stored in the parent entities before applying intercompany eliminations and adjustments. The other statements are incorrect descriptions of what happens to parent entities during consolidation. Parent entities are not tagged as Dynamic Calc; they are tagged as Store or Dynamic Calc and Store, depending on whether they have input data or not. The consolidation does affect the entity dimension, as it updates the calculation status and data values of each entity. The changes in the relational database are not synced to the underlying Essbase cube; they are stored in both places simultaneously. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-7.
NEW QUESTION # 22
When do you enable submission phases for your approval process?
- A. When you set up the approval unit hierarchy
- B. When you start the approval process for an approval unit on the Manage Approvals page
- C. When you set the member properties for the entity
- D. When you assign the approval unit hierarchy to a scenario, period, and year
Answer: A
Explanation:
Explanation
You enable submission phases for your approval process when you set up the approval unit hierarchy.
Submission phases are optional steps that allow you to control the order and timing of data submission by different entities or groups of entities. You can define up to four submission phases for each approval unit hierarchy and assign entities to different phases. You can also set dependencies between phases to ensure that data is submitted in a sequential manner. Submission phases are not enabled when you start the approval process for an approval unit on the Manage Approvals page, when you set the member properties for the entity, or when you assign the approval unit hierarchy to a scenario, period, and year. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 28-29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-9.
NEW QUESTION # 23
Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?
- A. Data can be stored by the intercompany partner but no eliminations occur.
- B. The FCCS No Intercompany member of the ICP dimension is used for all data.
- C. An extra custom dimension is available.
- D. The ICP dimension is omitted.
Answer: D
Explanation:
Explanation
The Intercompany Data feature is an optional feature that enables intercompany eliminations and reporting in Financial Consolidation and Close (FCC). If this feature is not enabled when the FCC business process is created, the ICP dimension is omitted from the application. This means that data cannot be stored by the intercompany partner and no eliminations occur. The FCCS No Intercompany member of the ICP dimension is used for all data only if the feature is enabled but no intercompany transactions are entered. An extra custom dimension is not available regardless of whether the feature is enabled or not. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-10.
NEW QUESTION # 24
Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)
- A. Average Rate
- B. Ending Rate
- C. Local Rate
- D. Opening 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 # 25
For which scenario would an On-Demand rule be an appropriate solution?
- A. To import data into a form or Smart View worksheet
- B. To perform a custom currency translation for a subset of accounts
- C. To allocate data to base entities prior to consolidation
- D. To add a column with a calculation to a report
Answer: B
Explanation:
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. References: 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 # 26
Which statement is FALSE about when Intercompany Data is enabled?
- A. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
- B. Intercompany accounts are assigned plug accounts.
- C. Tracking intercompany eliminations is optional.
- D. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
Answer: D
Explanation:
Explanation
The statement that is false about when Intercompany Data is enabled is: In order for intercompany data to be eliminated, intercompany entities must be children of the same parent. This statement is not true because intercompany data can be eliminated even if intercompany entities are not children of the same parent, as long as they share a common ancestor entity in the Entity dimension hierarchy. For example, if Entity A and Entity B are siblings under Entity C, and Entity A has an intercompany transaction with Entity B, the intercompany data will be eliminated at Entity C level. The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, and the Intercompany Entity attribute for an entity 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 2-11.
NEW QUESTION # 27
You want to prevent users from saving data in a form if the value entered for Headcount is greater than 1000.
What is the most efficient means to accomplish this?
- A. Create a Groovy rule.
- B. Create a Configurable Consolidation rule.
- C. Create a Task Manager rule.
- D. Create a valid intersection rule.
Answer: A
Explanation:
Explanation
To prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.
NEW QUESTION # 28
Where do you set the Intercompany Entities Aggregation option?
- A. In the Setup Wizard during business process creation
- B. In the member properties of the Intercompany Entities member
- C. In the member properties of the Intercompany Top member
- D. On the Properties page of the Intercompany dimension
Answer: B
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 # 29
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)
- A. Selecting a shared member for a rule does not include its primary instance.
- B. Selecting the primary instance of a member does not include shared members.
- C. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
- D. If a shared member is selected for a rule, the primary instance of the member is selected as well.
Answer: A,C
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 # 30
Which statement is true of journals created from Recurring templates?
- A. The initial status of journals created from Recurring templates is Posted.
- B. The line items in journals created from Recurring templates are read only.
- C. Journals for recurring templates are created automatically when you open a period for journals.
- D. The initial status of journals created from Recurring templates is Approved.
Answer: C
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 # 31
Which statement about Opening Balance Override rules is true?
- A. You can select which accounts to include in the rule scope.
- B. You can select which entities to include in the rule scope.
- C. Opening Balance Override rules execute for the first period in the year only.
- D. They are available only if Intercompany Data with Tracking is enabled for the business process.
Answer: A
Explanation:
Explanation
The statement that is true about Opening Balance Override rules is: You can select which accounts to include in the rule scope. Opening Balance Override rules are a type of business rules that allow you to override the opening balance values for selected accounts in selected entities. You can use these rules to adjust opening balances for specific scenarios or periods without affecting prior periods or other scenarios. You can select which accounts to include in the rule scope by using member selection or member formulas. The other statements are not true about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process, they execute for any period in the year, not just the first one, and you cannot select which entities to include in the rule scope, only the parent entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 63-64; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-2.
NEW QUESTION # 32
To which Financial Consolidation and Close dimension(s) do you map Data Management periods?
- A. Period and Year
- B. View
- C. Period
- D. Period, Year, and View
Answer: D
Explanation:
Explanation
When mapping Data Management periods to Financial Consolidation and Close dimensions, you need to map them to Period, Year, and View dimensions. Data Management is a feature that allows you to load data from external sources into Financial Consolidation and Close using integrations, locations, mappings, etc. When mapping Data Management periods, you need to specify the Period (such as Jan, Feb, Mar, etc.), the Year (such as FY20, FY21, FY22, etc.), and the View (such as Periodic or YTD) for each source period. This ensures that the data is loaded into the correct target period in Financial Consolidation and Close. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 40-41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-5.
NEW QUESTION # 33
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. View
- B. Account
- C. Movement
- D. Consolidation
Answer: A,D
Explanation:
Explanation
When using the Copy Data feature to copy data from one scenario, year, or period to another, member selection is not available for the Consolidation and View dimensions. These dimensions are automatically set to Entity Input and Periodic, respectively. Member selection is available for other dimensions, such as Movement, Account, etc., depending on the application settings and security access. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 55; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 7-13.
NEW QUESTION # 34
When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?
- A. Plug Account
- B. Intercompany Entity
- C. Intercompany Account
- D. Is Plug Account
Answer: A
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATION-DEVELOPME
NEW QUESTION # 35
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