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NEW QUESTION # 12
Which two are insertable report objects when designing a report in Financial Reporting Studio? (Choose two.)
- A. Header
- B. Footer
- C. Chart
- D. Grid
Answer: C,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 # 13
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 # 14
Which statement is FALSE about Task Manager schedules?
- A. You can still add tasks to a schedule that has been closed.
- B. Users can still complete tasks in a schedule that has been closed.
- C. To start all the tasks in a schedule, you must change the status from Pending to Open.
- D. You can re-open a schedule that has been locked.
Answer: A
Explanation:
Explanation
The statement that is false about Task Manager schedules is: You can still add tasks to a schedule that has been closed. This is false because you cannot add tasks to a schedule that has been closed; you can only add tasks to a schedule that is open or pending. Closing a schedule means that the schedule is completed and no further changes are allowed. The other statements are true about Task Manager schedules. Users can still complete tasks in a schedule that has been closed, as long as the tasks are not past due. You can re-open a schedule that has been locked, as long as you have the Unlock Schedule role assignment. To start all the tasks in a schedule, you must change the status from Pending to Open, which triggers the task start dates and due dates. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 43; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 8-4.
NEW QUESTION # 15
Which four items are included in the Currency dimension? (Choose four.)
- A. Input Currencies
- B. Journal Input Currencies
- C. Default Currency
- D. Entity Currency
- E. Parent Currency
- F. Reporting Currencies
Answer: A,B,D,F
Explanation:
Explanation
The four items that are included in the Currency dimension are:
Input Currencies: These are the currencies that are used to enter data into the application. They are based on the default currency of each entity.
Journal Input Currencies: These are the currencies that are used to enter journals into the application.
They are based on the default currency of each entity or reporting currency.
Entity Currency: This is a dynamic member that represents the default currency of each entity. It is used to display data in the entity's currency without translation.
Reporting Currencies: These are the currencies that are used to translate data into different currencies for reporting purposes. They are defined by the administrator and can be based on any currency.
The other options are not included in the Currency dimension. Parent Currency is a member of the Consolidation dimension, not the Currency dimension. It is used to display data in the parent entity's currency after translation. Default Currency is a property of the Entity dimension, not a member of the Currency dimension. It is used to specify the input currency for each entity. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 21; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 3-2.
NEW QUESTION # 16
What action requires refreshing the database?
- A. You deploy a new Configurable Calculation rule in Calculation Manager.
- B. You edit the Consolidation Operator for a member in the Account dimension.
- C. You edit the alias for a member in the Entity dimension.
- D. You change the ownership percentage for an entity.
Answer: C
Explanation:
Explanation
The action that requires refreshing the database is editing the alias for a member in the Entity dimension.
Refreshing the database is a process that synchronizes the changes made to metadata with the data stored in the database. You need to refresh the database after making changes to metadata that affect data aggregation or calculation, such as editing member names, formulas, consolidation operators, etc. Editing the alias for a member in the Entity dimension is one of such changes, because it affects how data is displayed in reports and forms. The other actions do not require refreshing the database. Deploying a new Configurable Calculation rule in Calculation Manager, changing the ownership percentage for an entity, and editing the Consolidation Operator for a member in the Account dimension do not affect data aggregation or calculation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 21; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-4.
NEW QUESTION # 17
Which two are members in the Consolidation dimension? (Choose two.)
- A. FCCS Total input And Adjusted
- B. FCCS Data Input
- C. FCCS Entity Input
- D. FCCS Proportion
Answer: C,D
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 # 18
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 # 19
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 # 20
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 # 21
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 # 22
The company PQR has an ownership structure as shown below.
H_1 has an intercompany transaction with P_2. For which entity or entities does consolidation need to be run in order for the transaction to be eliminated?
- A. PQR
- B. H 1 and P 2
- C. Hickory and Paducah
- D. No elimination is performed, because H 1 and P 1 do not have the same parent.
Answer: C
Explanation:
Explanation
For H_1 to have an intercompany transaction with P_2, consolidation needs to be run for Hickory and Paducah entities in order for the transaction to be eliminated. Intercompany transactions are transactions between entities that belong to the same group or consolidation hierarchy. Intercompany transactions need to be eliminated during consolidation to avoid double-counting of revenues, expenses, assets, liabilities, etc.
Intercompany transactions are eliminated at the common parent entity level of the intercompany entities. For example, if H_1 has an intercompany transaction with P_2, the transaction will be eliminated at Hickory level (the parent of H_1) and Paducah level (the parent of P_2). The other options are not correct. PQR is not the common parent entity of H_1 and P_2, so consolidation does not need to be run for PQR to eliminate the transaction. H_1 and P_2 are not parent entities, so consolidation does not need to be run for them either.
Intercompany transactions can be eliminated even if intercompany entities do not have the same parent, as long as they share a common ancestor entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.
NEW QUESTION # 23
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)
- A. FX Rates - Historical
- B. FX Rates - Ending
- C. FX Rates - None
- D. FX Rates - Opening
- E. FX Rates - Average
Answer: B,E
Explanation:
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. References: 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 # 24
Which customization can you perform on the Navigation Flows page?
- A. Select a data form to display at start up based on user group.
- B. Set a default POV by user group.
- C. Add or Hide cards.
- D. Select a color scheme.
Answer: C
Explanation:
Explanation
The customization that you can perform on the Navigation Flows page is to add or hide cards. Cards are the icons that link to different features or functions of the application. You can customize which cards are visible or hidden for each user group by using the Navigation Flows page. The other options are not customizations that you can perform on the Navigation Flows page. You cannot set a default POV by user group, select a color scheme, or select a data form to display at start up based on user group from this page. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-5.
NEW QUESTION # 25
Where in Data Integration do you specify the default member for the Multi-GAAP dimension?
- A. Execute Integration dialog box
- B. Workbench
- C. Location Attributes section of the Create Integration dialog box
- D. Options tab of the Application Details dialog box
Answer: D
Explanation:
Explanation
The place in Data Integration where you specify the default member for the Multi-GAAP dimension is the Options tab of the Application Details dialog box. This is where you can set default members for any dimension that is not mapped in your integrations. The default member for Multi-GAAP will be used when loading data from sources that do not have multiple GAAPs. The other options are not places where you specify the default member for Multi-GAAP. The Workbench is where you define source files and mappings, but not default members. The Execute Integration dialog box is where you run integrations, but not specify default members. The Location Attributes section of the Create Integration dialog box is where you select target applications and scenarios, but not default members. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 9-6.
NEW QUESTION # 26
Which statement is FALSE about the Equity Pickup feature?
- A. Seeded rule sets are provided for Equity Pickup.
- B. Equity Pickup rules run as part of the consolidation process
- C. Equity Pickup rules are run on demand from the Rules card by users with launch permission.
- D. Equity Pickup requires that Ownership Management with the Equity Pickup feature is enabled.
Answer: D
Explanation:
Explanation
The statement that is false about the Equity Pickup feature is: Equity Pickup requires that Ownership Management with the Equity Pickup feature is enabled. This is false because Equity Pickup does not require Ownership Management to be enabled; it can work with either Ownership Management or Ownership Data Source as long as they have equity accounts defined. The other statements are true about the Equity Pickup feature. Seeded rule sets are provided for Equity Pickup, which can be customized or copied as needed. Equity Pickup rules run as part of the consolidation process, after currency translation and before intercompany eliminations. Equity Pickup rules can also be run on demand from the Rules card by users with launch permission. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 33; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-22.
NEW QUESTION # 27
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 # 28
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