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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

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

2. For which scenario would an On-Demand rule be an appropriate solution?

A) To allocate data to base entities prior to consolidation
B) To add a column with a calculation to a report
C) To import data into a form or Smart View worksheet
D) To perform a custom currency translation for a subset of accounts

3. If the Intercompany Property for an Entity is changed from marked to unmarked, which result occurs?

A) The alias of the associated Intercompany member must be manually changed.
B) The associated Intercompany member is automatically removed.
C) The alias of the associated Intercompany member is automatically updated.
D) The associated Intercompany member must be manually removed.

4. An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month.
What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)

A) A journal entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Journal Input.
B) A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.
C) Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.
D) Data entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Managed Data.

5. Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution? (Choose three.)

A) Provide predictive analysis and modeling.
B) Provide a strong compliance framework that includes auditing and segregation of duties.
C) Ensure security of sensitive data.
D) Integrate with source systems.

Solutions: