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Oracle Financial Consolidation and Close 2020 Implementation Essentials Sample Questions:

Question 1

Company 123 is a public company that reports in US Dollars. Company 123 owns Company XYZ, a European company that consolidates in Euro. One of the Company XYZ's subsidiaries is Company IOU, headquartered in Switzerland with a functional currency of the Swiss Franc.
Which process produces USD balances for Company IOU?

A. A translation of Company IOU
B. A consolidation of Company XYZ
C. A consolidation of Company 123
D. A translation of Company XYZ to Parent Currency
E. A translation to the USD_Reporting currency member for Company IOU

Question 2

You have created a navigation flow named Analysts that should be the default navigation for users in the Analysts user group.
How can the Analysts navigation flow be made the default for the Analysts user group?

A. In Application Settings, assign Analysts to the Analysts user group in the System Settings section.
B. In their User Preferences settings, members of the Analysts user group should select Analysts in the Navigation Flow list.
C. Because the navigation flow was given exactly the same name as the user group, it is assigned automatically to the group
D. In the Analysts navigation flow, select the Analysts user group in the Assign To field.

Question 3

If the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created, which statement is true?

A. An extra custom dimension is available.
B. The FCCS_No Intercompany member of the ICP dimension is used for all data.
C. The ICP dimension is omitted.
D. Data can be stored by intercompany partner but no eliminations will occur.

Question 4

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. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls
B. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint
C. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness
D. 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
E. provide the ability to collaborate during close and analyse transaction detail in real time

Question 5

A company would like to capture Fixed Asset additions and disposals within the Movement dimension.
Which three tasks are necessary to achieve this goal? (Choose three.)

A. Create a Roll Forward in the account dimension.
B. Add custom members for Additions and Disposals as dependents of FCCS_Mvmts_CapitalExpenditures.
C. Build a custom Movement member for Fixed Assets with dependent custom members for Additions and Disposals
D. Load detailed Fixed Asset data to Movement members.
E. Add custom Movement members to the FCCS_CashFlow hierarchy.

Solutions: