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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:
1. 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) leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness
C) provide the ability to collaborate during close and analyse transaction detail in real time
D) robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint
E) 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
2. 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 to the USD_Reporting currency member for Company IOU
B) A translation of Company IOU
C) A consolidation of Company XYZ
D) A translation of Company XYZ to Parent Currency
E) A consolidation of Company 123
3. 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) 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.
C) A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.
D) Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.
4. Financial Consolidation
and Close maintains calculation status for which four dimensions?
A) Year
B) Scenario
C) Data Source
D) Consolidation
E) Entity
F) Period
5. How can Metadata be imported into any Financial Consolidation and Close (FCCS) application?
A) by selecting Tasks, then Metadata, and then Import
B) by selecting Dimension, then Import, and then Metadata
C) by selecting Application, then Overview, then Dimensions, and then Import
D) by selecting Application, then Overview, then Dimensions, and then Export
Solutions:
| Question # 1 Answer: A,E | Question # 2 Answer: D | Question # 3 Answer: C,D | Question # 4 Answer: B,D,E,F | Question # 5 Answer: C |


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