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NEW QUESTION # 10
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. Select a color scheme.
- D. Add or Hide cards.
Answer: D
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 # 11
For your business process, owners of approval units should be able to lock and unlock data without going through an approval process.
Which action should you perform?
- A. Select the Consolidation template when setting up the Approval Unit hierarchy.
- B. Delete the default Approval Unit hierarchy.
- C. Select users with the Service Administrator security role.
- D. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
Answer: D
Explanation:
Explanation
The Consolidation Bottom Up template allows owners of approval units to lock and unlock data without going through an approval process. This template is suitable for organizations that do not require a formal approval process for data submission, but still want to control data access and track data status. The Consolidation template, on the other hand, requires owners of approval units to submit data for approval before they can lock it. The Service Administrator security role does not affect the approval process, and deleting the default Approval Unit hierarchy would disable the approval functionality altogether. 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 2-14.
NEW QUESTION # 12
Which two statements about the Copy Data function are true? (Choose two.)
- A. You cannot select which Account members to copy.
- B. When you select the Regular Data option, journals data is included.
- C. You can select which Consolidation dimension member to copy.
- D. You can copy data for historical rate and amount overrides.
Answer: C,D
Explanation:
Explanation
The two statements about the Copy Data function that are true are:
You can select which Consolidation dimension member to copy. You can choose to copy data from any member of the Consolidation dimension, such as FCCS_Entity Input, FCCS_Proportion, or FCCS_Eliminations.
You can copy data for historical rate and amount overrides. You can select to copy data from or to the FCCS Historical Rate Override or FCCS Historical Amount Override accounts.
The other statements are false. When you select the Regular Data option, journals data is not included; you need to select the Journals option to copy journals data. You can select which Account members to copy; you can choose to copy all accounts or specific accounts. : [Oracle Financial Consolidation and Close
2023 Implementation Essentials Exam Study Guide], page 27; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-16.
NEW QUESTION # 13
Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)
- A. The default currency of the child is different from the default currency of the parent.
- B. Reporting currencies have been defined in the Currency dimension.
- C. To specify exchange rates you must set up multiple currencies when creating an application.
- D. The child entity is NOT a shared entity.
Answer: A,B
Explanation:
Explanation
The two conditions that are required for foreign currency translation to take place during the default consolidation process are:
The default currency of the child is different from the default currency of the parent.
Reporting currencies have been defined in the Currency dimension.
These conditions ensure that there is a need and a way to translate the child entity's data into another currency.
If the child entity has the same default currency as the parent, there is no need for translation. If reporting currencies have not been defined in the Currency dimension, there is no way to specify exchange rates or translation methods. The other options are not required for foreign currency translation. The child entity can be a shared entity, as long as it has a different default currency than its parent. To specify exchange rates, you do not need to set up multiple currencies when creating an application; you can do it later in Data Management.
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 5-16.
NEW QUESTION # 14
Which two statements are true about the roll forward calculation in the Movement dimension? (Choose two.)
- A. Values for Opening Balance are retrieved from the prior period's Closing Balance.
- B. Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.
- C. Translated values for Closing Balance are adjusted to the ending rate for the period.
- D. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.
Answer: A,C
Explanation:
Explanation
The two statements that are true about the roll forward calculation in the Movement dimension are:
Translated values for Closing Balance are adjusted to the ending rate for the period. This means that the closing balance values are translated to the parent entity's currency using the exchange rate at the end of the period.
Values for Opening Balance are retrieved from the prior period's Closing Balance. This means that the opening balance values are derived from the closing balance values of the previous period.
The other statements are false about the roll forward calculation in the Movement dimension. Data for opening balances does not need to be loaded to the Opening Balance member prior to consolidation; it is automatically calculated from the prior period's closing balance. Values for base-level Movement members are not calculated as the difference between Closing Balance and Opening Balance; they are calculated as the difference between Closing Balance and Total Input And Adjusted. : Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 39; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 3-12.
NEW QUESTION # 15
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. Account
- B. Movement
- C. View
- D. Consolidation
Answer: C,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 # 16
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)
- A. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
- B. Selecting the primary instance of a member does not include shared members.
- C. Selecting a shared member for a rule does not include its primary instance.
- 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 # 17
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. Each period in the year must consolidate separately.
- D. Parent account calculations depend on the sequencing.
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 # 18
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. Gauge
- B. Line
- C. Tile
- D. Bar
Answer: C
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 # 19
What is the result of enabling the Calculate Movements system rule?
- A. To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
- B. Level 0 movement members become read only in web forms, and must be populated through data load.
- C. Closing Balance is aggregated from Opening Balance and the current period's movement value.
- D. The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.
Answer: C
Explanation:
Explanation
The result of enabling the Calculate Movements system rule is: Closing Balance is aggregated from Opening Balance and the current period's movement value. The Calculate Movements system rule is a predefined rule that calculates the movement values for each account based on the opening balance and closing balance input values. The rule also aggregates the closing balance from the opening balance and the current period's movement value. The rule can be executed manually or automatically depending on the application settings.
The other options are not results of enabling the Calculate Movements system rule. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 59-60; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-4.
NEW QUESTION # 20
Which statement correctly describes the Consolidation dimension?
- A. The dimension allows users to see input versus journal adjustment data.
- B. The dimension contains members to store non-controlling interest and joint venture data.
- C. The dimension uses a separate member for data from an entity's level-zero descendants.
- D. The dimension allows users to view data in the parent currency.
Answer: C
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
For which scenario would an On-Demand rule be an appropriate solution?
- A. To perform a custom currency translation for a subset of accounts
- B. To import data into a form or Smart View worksheet
- C. To allocate data to base entities prior to consolidation
- D. To add a column with a calculation to a report
Answer: A
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 # 22
Which is NOT a Financial Consolidation and Close task that you can perform using EPM Automate?
- A. Run a business rule
- B. Load a data file
- C. Export metadata
- D. Import journals
Answer: C
Explanation:
Explanation
Exporting metadata is not a Financial Consolidation and Close task that you can perform using EPM Automate. EPM Automate is a command-line tool that allows you to automate various tasks in Financial Consolidation and Close, such as importing journals, running a business rule, loading a data file, etc. However, exporting metadata is not one of the supported tasks. To export metadata, you need to use the Migration tool in the web interface or the Smart View extension for Microsoft Office. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 83-84; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-1.
NEW QUESTION # 23
Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)
- A. Ownership Percentage
- B. Control
- C. Consolidation Percentage
- D. Minority Interest Percentage
- E. Consolidation Method
Answer: A,C,E
Explanation:
Explanation
The three components that can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled are Consolidation Percentage, Ownership Percentage, and Consolidation Method. These components are part of the ownership details that define how an entity is consolidated with its parent entity. You can manually edit these components on the Manage Ownership page for each entity, scenario, year, and period. The other components, such as Control and Minority Interest Percentage, are not editable on the Manage Ownership page. They are either calculated automatically based on the ownership percentage or derived from the consolidation method. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 25-26; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-6.
NEW QUESTION # 24
Which of the following is allowed for accounts with the data storage type of Dynamic Calc?
- A. Load data to this account.
- B. Enter data through a data form.
- C. Create member formulas.
- D. Load data to this account and create member formulas.
Answer: C
NEW QUESTION # 25
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