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NEW QUESTION # 33
Which two statements are true about Enterprise Journals? (Choose two.)
- A. Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
- B. You cannot deploy Enterprise Journals to a period with Pending status.
- C. Line items can only include entities that have been enabled for Enterprise Journals.
- D. You can assign a team as preparer or reviewer.
Answer: C,D
Explanation:
Explanation
The two statements that are true about Enterprise Journals are:
Line items can only include entities that have been enabled for Enterprise Journals. You can enable or disable entities for Enterprise Journals in the Entity dimension properties.
You can assign a team as preparer or reviewer. You can create teams of users and assign them roles in the Enterprise Journal workflow.
The other statements are false. You can deploy Enterprise Journals to a period with any status, as long as it is not locked. Users with either the Service Administrator or Power User role can create Enterprise Journal templates, but they also need the Create Journal Template role assignment. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 25; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 6-2.
NEW QUESTION # 34
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.
- C. Load data to this account and create member formulas.
- D. Enter data through a data form.
Answer: A
NEW QUESTION # 35
Which four items are included in the Currency dimension? (Choose four.)
- A. Parent Currency
- B. Default Currency
- C. Reporting Currencies
- D. Journal Input Currencies
- E. Input Currencies
- F. Entity Currency
Answer: C,D,E,F
Explanation:
Explanation
The four items that are included in the Currency dimension are:
Input Currencies: These are the currencies that are used to enter data into the application. They are based on the default currency of each entity.
Journal Input Currencies: These are the currencies that are used to enter journals into the application.
They are based on the default currency of each entity or reporting currency.
Entity Currency: This is a dynamic member that represents the default currency of each entity. It is used to display data in the entity's currency without translation.
Reporting Currencies: These are the currencies that are used to translate data into different currencies for reporting purposes. They are defined by the administrator and can be based on any currency.
The other options are not included in the Currency dimension. Parent Currency is a member of the Consolidation dimension, not the Currency dimension. It is used to display data in the parent entity's currency after translation. Default Currency is a property of the Entity dimension, not a member of the Currency dimension. It is used to specify the input currency for each entity. 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 3-2.
NEW QUESTION # 36
What action requires refreshing the database?
- A. You edit the alias for a member in the Entity dimension.
- 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 change the ownership percentage for an entity.
Answer: A
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 # 37
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. Consolidation Percentage
- B. Control
- C. Minority Interest Percentage
- D. Ownership Percentage
- E. Consolidation Method
Answer: A,D,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 # 38
Which statement correctly describes the Consolidation dimension?
- A. The dimension allows users to see input versus journal adjustment data.
- B. The dimension allows users to view data in the parent currency.
- C. The dimension uses a separate member for data from an entity's level-zero descendants.
- D. The dimension contains members to store non-controlling interest and joint venture data.
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 # 39
Which is NOT a Financial Consolidation and Close task that you can perform using EPM Automate?
- A. Load a data file
- B. Run a business rule
- C. Import journals
- D. Export metadata
Answer: D
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 # 40
Where do you set the Intercompany Entities Aggregation option?
- A. In the member properties of the Intercompany Entities member
- B. On the Properties page of the Intercompany dimension
- C. In the Setup Wizard during business process creation
- D. In the member properties of the Intercompany Top member
Answer: A
NEW QUESTION # 41
Which statement is true of reporting currencies?
- A. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
- B. All reporting currency members have the suffix Reporting.
- C. During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
- D. All input currencies that you add are automatically added as reporting currencies as well.
Answer: A
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 # 42
Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?
- A. Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow
- B. Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning
- C. Calculations, dashboards, and reports to provide analysis for cash flow modeling
- D. Pre-built integrations to combine narrative and data to produce both internal and external reporting packages
Answer: A
Explanation:
Explanation
The components that are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution are calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow. These components enable you to perform financial consolidation and close processes with best practices, efficiency, and accuracy. The calculations include predefined consolidation rules, currency translation methods, intercompany eliminations, ownership management, etc.
The dashboards and reports provide insights into the consolidation results, process status, data quality, etc. The data source tracking allows you to track the origin and adjustments of data from different sources. The automated cash flow generates cash flow statements based on the movement accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 11-12; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 1-2.
NEW QUESTION # 43
Which statement about Opening Balance Override rules is true?
- A. They are available only if Intercompany Data with Tracking is enabled for the business process.
- B. You can select which entities to include in the rule scope.
- C. Opening Balance Override rules execute for the first period in the year only.
- D. You can select which accounts to include in the rule scope.
Answer: D
Explanation:
Explanation
The statement that is true about Opening Balance Override rules is: You can select which accounts to include in the rule scope. Opening Balance Override rules are a type of business rules that allow you to override the opening balance values for selected accounts in selected entities. You can use these rules to adjust opening balances for specific scenarios or periods without affecting prior periods or other scenarios. You can select which accounts to include in the rule scope by using member selection or member formulas. The other statements are not true about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process, they execute for any period in the year, not just the first one, and you cannot select which entities to include in the rule scope, only the parent entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 63-64; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-2.
NEW QUESTION # 44
In Data Integration integrations, which two attributes are linked to the location selected for the integration?
(Choose two.)
- A. Scenario
- B. Member mappings
- C. Data tile name
- D. Target application
Answer: B,D
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 # 45
Which statement is FALSE about running consolidations?
- A. When you consolidate a parent, children with the Impacted calculation status are also consolidated.
- B. When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
- C. When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
- D. Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.
Answer: B
Explanation:
Explanation
The statement that is false about running consolidations is: When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated. This is false because running consolidation for a child entity only affects the child entity and its descendants, not the parent entity or its siblings. The parent entity will only be re-consolidated if it has the Impacted calculation status or if you use the Force Consolidate option. The other statements are true about running consolidations. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-7.
NEW QUESTION # 46
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)
- A. Select level 0 dimension members for POV\ rows, and columns. www*'
- B. Grant the data input users Write access to the dimension members used on the form.
- C. In the member selection for Entity, do not include shared entities; include only primary instances of entities.
- D. Set the consolidation member on the form to FCCS Entity Input.
- E. Set the currency on the form to Parent Currency.
Answer: A,B,D
Explanation:
Explanation
The three actions that are consistent with creating a form that allows users to input data are:
Set the consolidation member on the form to FCCS Entity Input. This is the member that represents the input data for each entity before consolidation.
Select level 0 dimension members for POV, rows, and columns. This ensures that the form displays the lowest level of detail for each dimension.
Grant the data input users Write access to the dimension members used on the form. This allows them to enter or modify data on the form.
The other options are not consistent with creating a form that allows users to input data. In the member selection for Entity, you can include shared entities if you want to allow data input for multiple instances of an entity. Setting the currency on the form to Parent Currency would display the data in the parent entity's currency, not the input currency. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 23; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-2.
NEW QUESTION # 47
Where do you set the Intercompany Entities Aggregation option?
- A. In the member properties of the Intercompany Entities member
- B. On the Properties page of the Intercompany dimension
- C. In the Setup Wizard during business process creation
- D. In the member properties of the Intercompany Top member
Answer: A
Explanation:
Explanation
The place where you set the Intercompany Entities Aggregation option is in the member properties of the Intercompany Entities member. This is a system member in the Entity dimension that represents all entities that have intercompany data. You can set its aggregation option to either Dynamic Calc or Store, depending on whether you want to calculate or store its values. The other options are not places where you set the Intercompany Entities Aggregation option. In the member properties of the Intercompany Top member, you can set other options related to intercompany data, such as Intercompany Partner, Intercompany Elimination Entity, and Intercompany Elimination Method, but not Intercompany Entities Aggregation. On the Properties page of the Intercompany dimension, you can set options related to intercompany matching reports, such as Report Currency and Report Precision, but not Intercompany Entities Aggregation. In the Setup Wizard during business process creation, you can enable or disable intercompany data for your business process, but not set Intercompany Entities Aggregation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 35; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-11.
NEW QUESTION # 48
Which statement is FALSE about when Intercompany Data is enabled?
- A. Tracking intercompany eliminations is optional.
- B. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
- C. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
- D. Intercompany accounts are assigned plug accounts.
Answer: C
Explanation:
Explanation
The statement that is false about when Intercompany Data is enabled is: In order for intercompany data to be eliminated, intercompany entities must be children of the same parent. This statement is not true because intercompany data can be eliminated even if intercompany entities are not children of the same parent, as long as they share a common ancestor entity in the Entity dimension hierarchy. For example, if Entity A and Entity B are siblings under Entity C, and Entity A has an intercompany transaction with Entity B, the intercompany data will be eliminated at Entity C level. The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, and the Intercompany Entity attribute for an entity 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 2-11.
NEW QUESTION # 49
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 cannot be promoted to a higher level in the promotion path than data for an earlier phase.
- C. Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
- D. 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.
Answer: B
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 # 50
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