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NEW QUESTION # 17
In Data Integration integrations, which two attributes are linked to the location selected for the integration?
(Choose two.)
- A. Data tile name
- B. Target application
- C. Member mappings
- D. Scenario
Answer: B,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 # 18
What action requires refreshing the database?
- A. You change the ownership percentage for an entity.
- B. You edit the Consolidation Operator for a member in the Account dimension.
- C. You deploy a new Configurable Calculation rule in Calculation Manager.
- D. You edit the alias for a member in the Entity dimension.
Answer: D
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 # 19
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 add a column with a calculation to a report
- C. To perform a custom currency translation for a subset of accounts
- D. To allocate data to base entities prior to consolidation
Answer: C
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 # 20
Which statement is true of reporting currencies?
- A. During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
- B. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
- C. All input currencies that you add are automatically added as reporting currencies as well.
- D. All reporting currency members have the suffix Reporting.
Answer: B
Explanation:
Explanation
The statement that is true of reporting currencies is: When you run the Consolidate business rule, you can select one or more reporting currencies to translate to. This allows you to perform currency translation for specific reporting currencies without affecting the other currencies. You can also select the All Reporting Currencies option to translate to all reporting currencies at once. The other statements are false of reporting currencies. During consolidation, rates for translating to reporting currencies are not calculated by triangulation through the rate for translating to the parent currency; they are calculated by using the direct rate between the input currency and the reporting currency. Not all input currencies that you add are automatically added as reporting currencies as well; you need to enable them as reporting currencies in the Currency dimension properties. Not all reporting currency members have the suffix Reporting; only the dynamic members that represent the reporting currencies for each entity have this suffix. 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 5-17.
NEW QUESTION # 21
Which four sample ratios can be selected during business process creation? (Choose four.)
- A. Gross Margin
- B. Debt Ratio
- C. Inventory Ratios
- D. Earnings per Share
- E. Days Sales in Receivables
- F. Contribution Margin
Answer: A,B,C,E
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 # 22
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. The View dimension stores only periodic data.
- C. All parent members in the Account dimension must have a Solve Order value of 58.
- D. Account is a Sparse dimension.
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 # 23
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. Hickory and Paducah
- B. H 1 and P 2
- C. PQR
- D. No elimination is performed, because H 1 and P 1 do not have the same parent.
Answer: A
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 # 24
Which statement is true about an approval process with the Phase Dependency option enabled?
- A. 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
- B. 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.
- C. Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
- D. Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
Answer: C
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 # 25
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 # 26
Where in Data Integration do you specify the default member for the Multi-GAAP dimension?
- A. Location Attributes section of the Create Integration dialog box
- B. Workbench
- C. Options tab of the Application Details dialog box
- D. Execute Integration dialog box
Answer: C
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 # 27
Which customization can you perform on the Navigation Flows page?
- A. Set a default POV by user group.
- B. Select a data form to display at start up based on 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 # 28
Which of the following is allowed for accounts with the data storage type of Dynamic Calc?
- A. Create member formulas.
- B. Load data to this account and create member formulas.
- C. Enter data through a data form.
- D. Load data to this account.
Answer: A
NEW QUESTION # 29
You want to display a single value in a financial dashboard from a single cell in a form.
Which type of chart would you select?
- A. Bar
- B. Tile
- C. Line
- D. Gauge
Answer: B
Explanation:
Explanation
To display a single value in a financial dashboard from a single cell in a form, you would select a Tile chart. A Tile chart is a type of chart that shows a single value with an optional label and icon. You can use a Tile chart to highlight a key performance indicator or a summary metric from your data. The other types of charts, such as Bar, Gauge, and Line, are not suitable for displaying a single value from a single cell. They are used to display multiple values or comparisons across different dimensions or categories. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 53; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-10.
NEW QUESTION # 30
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
- A. There is no reason to consolidate years sequentially.
- B. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
- C. Parent account calculations depend on the sequencing.
- D. Each period in the year must consolidate separately.
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 # 31
Which two are members in the Consolidation dimension? (Choose two.)
- A. FCCS Proportion
- B. FCCS Entity Input
- C. FCCS Total input And Adjusted
- D. FCCS Data Input
Answer: A,B
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 # 32
Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)
- A. Entity
- B. Account
- C. Period
- D. Year
- E. Scenario
Answer: C,D
Explanation:
Explanation
Year and Period are not selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager. Supplemental Data Manager is a feature that allows you to collect and review additional data that is not part of the standard consolidation process, such as tax schedules, disclosures, etc. A Collection Interval is a set of dimensions that defines the scope of data collection for a Form Group. The Workflow dimensions are the dimensions that determine the approval process for the data entered in the forms. The selectable Workflow dimensions are Scenario, Entity, and Account. Year and Period are not Workflow dimensions because they are fixed by the application settings and do not require approval. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 79-80; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 12-2.
NEW QUESTION # 33
Security is enabled for the Account dimension, but you have not assigned member access rights to any users or groups.
What will be users' default access to members in the Account dimension?
- A. Read
- B. Write
- C. Comment
- D. None
Answer: A
Explanation:
Explanation
The users' default access to members in the Account dimension when security is enabled but no member access rights are assigned is Read. This means that users can view data for any account member, but they cannot enter or modify data. Read is also the default access level for any dimension when security is enabled but no member access rights are assigned. The other options are not users' default access to members in the Account dimension when security is enabled but no member access rights are assigned. None means that users cannot view or modify data for any account member, which would prevent them from using the application.
Comment means that users can view and comment on data for any account member, but they cannot enter or modify data.
Write means that users can view and modify data for any account member, which would give them full access to the application.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 17; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-9.
NEW QUESTION # 34
In the approval process, which four dimensions constitute an approval unit? (Choose four.)
- A. Scenario
- B. Account
- C. Period
- D. Data Source (Entity)
- E. Year
Answer: A,C,D,E
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 # 35
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. View
- B. Movement
- C. Account
- 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 # 36
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)
- A. FX Rates - Ending
- B. FX Rates - Opening
- C. FX Rates - None
- D. FX Rates - Average
- E. FX Rates - Historical
Answer: A,D
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 # 37
In Data Integration, for what purpose do you use Workbench?
- A. To review mapping of source to target members
- B. To configure data load options
- C. To define dimension mapping
- D. To edit the data load file format
Answer: A
Explanation:
Explanation
The purpose of using Workbench in Data Integration is to review mapping of source to target members.
Workbench allows you to view and edit how source data members are mapped to target application members.
You can also validate, test, and run integrations from Workbench. The other options are not purposes of using Workbench in Data Integration. To edit the data load file format, you use File Format Editor. To define dimension mapping, you use Dimension Mapping Editor. To configure data load options, you use Application Details dialog box. 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 9-4.
NEW QUESTION # 38
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