FCCS Exam 2024-2025 Questions & Correct Answers. Already Graded A+, Exams of Business Systems

Download FCCS Exam 2024-2025 Questions & Correct Answers. Already Graded A+ and more Exams Business Systems in PDF only on Docsity! FCCS Exam 2024-2025 Questions & Correct Answers. Already Graded A+ 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. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint B. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls C. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness D. 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 E. provide the ability to collaborate during close and analyse transaction - ANSA. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint D. 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 A company has two subsidiaries with 1000 EURO each in the Cash account. Which four Consolidation Members will reflect 2000 EURO at the company's balance? (Choose four.) A. FCCS_Elimination B. FCCS_Proportion C. FCCS_Entity Input D. FCCS_Entity Consolidation E. FCCS_Entity Total F. FCCS_Contribution - ANSB. FCCS_Proportion D. FCCS_Entity Consolidation E. FCCS_Entity Total F. FCCS_Contribution A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary's functional currency is USD. Which two items facilitate the reporting of the subsidiary's Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.) A. Common Stock must have an Exchange Rate Type set to Historical Rate Override. B. The subsidiary must have a balance not equal to zero in Common Stock. C. Common Stock must have a Data Storage property set to Never Share. D. USD must be created as a reporting currency. E. The subsidiary must have a parent entity with a GBP currency. - ANSA. Common Stock must have an Exchange Rate Type set to Historical Rate Override. B. The subsidiary must have a balance not equal to zero in Common Stock. A company would like to capture Fixed Asset additions and disposals within the Movement dimension. Which three tasks are necessary to achieve this goal? (Choose three.) A. Build a custom Movement member for Fixed Assets with dependent custom members for Additions and Disposals B. Add custom members for Additions and Disposals as dependents of C. Account D. Entity E. Year - ANSB. Data Source C. Account D. Entity Changes in the balance of Accounts Payable are captured on a company's Cash Flow Report. Which two dimension members must be built into the row of the company's Cash Flow to report the impact of Accounts Payable? (Choose two.) A. FCCS_Accounts Payable account member B. FCCS_CashFlow_Operating movement member C. FCCS_CashFlow_Accounts Payable account member D. FCCS_Total Balance Sheet - Cash and NonCash account member E. FCCS_CashChange movement member - ANSC. FCCS_CashFlow_Accounts Payable account member D. FCCS_Total Balance Sheet - Cash and NonCash account member 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 123 D. A consolidation of Company XYZ E. A translation of Company XYZ to Parent Currency - ANSA. A translation to the USD_Reporting currency member for Company IOU Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination? A. Consolidation, Currency, Account B. Currency, Account, Movement C. Entity, Consolidation, Currency D. Entity, Currency, Account - ANSB.Currency, Account, Movement Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions? A. Scenario, Account, Base Entity and Parent Entity B. Year, Scenario, Base Entity and Account C. Scenario, View, Parent Entity and Account D. Period, Scenario, Base Entity and Parent Entity - ANSD. Period, Scenario, Base Entity and Parent Entity For data loads rules in Data Management, which two statements are FALSE? A)Valid load types are Merge and Replace B)Data load rules cannot be shared across locations C)End users can upload a file when running a data load rule D)A job must first run to import the data file before the user can run the data load rule E)If specified, the import format will be used; if not, then the location's format will be use - ANSA)Valid load types are Merge and Replace D)A job must first run to import the data file before the user can run the data load rule For which action is the EPMAutomate "uploadfile" file used? A)Import metadata from the source system only B)Upload a snapshot to an FCCS environment C)Export data to both production and test environments D)Export metadata from the source system - ANSB) Upload a snapshot to an FCCS environment For which three tasks can Data Management be used? (Choose three.) A. loading data that is period-to-date or year-to-date B. drilling through from a web form or Smart View C. loading data from a fixed width or delimited text file D. writing back data to source systems E. loading a Metadata Import File - ANSA. loading data that is period-to-date or year-to- date B. drilling through from a web form or Smart View C. loading data from a fixed width or delimited text file How can Metadata be imported into any Financial Consolidation and Close (FCCS) application? A. by selecting Application, then Overview, then Dimensions, and then Export B. by selecting Dimension, then Import, and then Metadata C. by selecting Application, then Overview, then Dimensions, and then Import D. by selecting Tasks, then Metadata, and then Import - ANSC. by selecting Application, then Overview, then Dimensions, and then Import How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application? A. Enable a dimension for Currency after application creation via a Metadata load. B. During application creation, select the Multicurrency option of "No" and insert additional currencies within the Currency dimension. C. During application creation, select the Multicurrency option of "Yes". A. when the tasks are repeatable over multiple close cycles B. when the tasks require consistent definition across close schedules C. when the tasks are often late in completion and they need to be monitored more closely D. when the tasks require multiple levels of approvers - ANSA. when the tasks are repeatable over multiple close cycles In which two instances will the FCCS_Mvmts_FX_to_CTA movement member populate in a translated currency? A. Movement of FX impact for historical rate accounts to the FCCS_CTA account B. A variance in the Average rate and the Ending rate C. The current FCCS_CTA account balance does not change from the prior period D. The account is FCCS_Net Income - ANSA. Movement of FX impact for historical rate accounts to the FCCS_CTA account D. The account is FCCS_Net Income In which two scenarios will the system copy balances to the Reporting Currency? A)Parent Currency matches Reporting Currency B)Entity Currency matches Parent Currency C)Entity Currency matches Reporting Currency D)The Reporting Currency is the triangulation currency - ANSA)Parent Currency matches Reporting Currency C)Entity Currency matches Reporting Currency On what days during the month does Oracle apply patch updates to fix bugs, apply code optimizations, and add new features? A. the third Friday of each month to apply to both TEST and PROD simultaneously B. the first and third Monday of each month; first Monday for TEST and third Monday for PROD C. the second and fourth Friday of each month; second Friday for Test and fourth Friday for PROD D. the first and third Friday of each month; first Friday for TEST and third Friday for PROD - ANSD. the first and third Friday of each month; first Friday for TEST and third Friday for PROD P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5. Which statement regarding consolidation is correct? A. There is no way to do a prior period entry like this. B. January and February should be consolidated. C. February should be consolidated, after which the cash at AceCo is now 65. D. January should be consolidated for the change and nothing needs to happen for February. - ANSB. January and February should be consolidated. PQR Hickory H1 H2 Paducah P_1 P_2 PQR Company has the ownership structure shown above. If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called? A. First common parent B. Generation 0 C. First order relation D. Lowest common denominator - ANSA. First common parent PQR Hickory H1 H2 Paducah P_1 P_2 PQR Company has the ownership structure shown above. If P_2 lends money to H_1, which point of view would the credit balance that offsets P_2's debit balance? A. Entity PQR, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany B. Entity Paducah, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany. Entity P_2, Consolidation FCCS_Contribution, Intercompany ICP_H_1 C. Entity Paducah, Consolidation FCCS_Elimination, Intercompany ICP_H_1 D. Entity P_2, Consolidation FCCS_Contribution, Intercompany H_1 - ANSD. Entity P_2, Consolidation FCCS_Contribution, Intercompany H_1 The close cycle covers seven days and consists of three days of pre-close preparation tasks, one day to close the books, and then three days of reviewing, analyzing, and reporting. To define a Close Manager task template to monitor all seven days, which range should you define? A. Day -3 to Day 4 B. Day -3 to Day 3 C. Day 1 to Day 7 D. Day -2 to Day 4 - ANSB. Day -3 to Day 3 Three child entities - P, Q, and R - of a mid-level parent entity - AceCo - have acco unt receivables in the amounts of 10, 20, and 30, respectively. Which statement contains conditions for all three entities that would cause the account receivable balance amount at AceCo not to be 60? A. P has the same currency as AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo. D. Define system settings such as Organization units, Holiday rules and Task attachment size. What can the Intercompany Dimension be enabled and made visible within your application? A. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute B. during application creation and selecting the Intercompany Data feature option C. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Entity attribute D. during application creation and selecting the Multi-source Data Input of Other Data - ANSB. during application creation and selecting the Intercompany Data feature option What file type / file extension format extract data exports from Financial Consolidation and Close (FCCS)? A. The data export format / file extension is always extracted in a XLS file format. B. The data export format / file extension is always extracted in a ZIP file format. C. The data export format / file extension is always extracted in a DAT file format. D. The data export format / file extension is always extracted in a CSV file format. - ANSB. The data export format / file extension is always extracted in a ZIP file format. What information is included in the data extract export file delimited format? A. the ID of the user performing the extract B. the domain and application name C. the data load cube name D. the application name - ANSC. the data load cube name What is the correct Currency dimension member to select when running an Intercompany Matching Report? A. Input Currency B. Reporting Currency C. Entity Currency D. Parent Currency - ANSB. Reporting Currency What is the Data Storage value for an account that must remain at a historical exchange rate and not retranslate with current rates? A. Store B. Never Share C. No Rate D. Dynamic Calc and Store E. Dynamic - ANSA. Store What is the primary function of enabling the Track Intercompany Elimination option during the application creation? A. enables the Elimination member in the Consolidation dimension B. process will separate total elimination values by Data Source. C. enables the application to include Intercompany data. D. enables the application to perform Intercompany eliminations - ANSB. process will separate total elimination values by Data Source. What member of the Consolidation dimension aggregates the Proportion member and the Elimination members? A. FCCS_Entity Total B. FCCS_Parent Currency C. FCCS_Contribution D. FCCS_Entity Consolidation - ANSC. FCCS_Contribution What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension? A. Base Currency B. Parent Currency C. Local Currency D. Entity Currency - ANSD. Entity Currency What member of the Currency dimension should be used during data entry for historical override amounts? A. Parent Currency B. Input Currencies C. Reporting Currencies D. Entity Currency - ANSB. Input Currencies What type of attribute would you change to make an account translate at a historical rate? A)Data Type B)Data Storage C)Exchange Rate Type D)Account Type - ANSC) Exchange Rate Type What will Financial Consolidation and Close (FCCS) do when adding a new member that is an expense type account under a parent that is set as an income type account? A. this setting will not affect additions or subtractions to the next parent B. subtract amounts consolidated to the parent C. add amounts consolidated to the parent report object? A. Chart B. Grid C. Image D. Header - ANSD. Header When enabling Multi-GAAP during application creation, which additional option is available? A. Automatically calculate adjustment B. Allow adjustments for IFRS C. Track Multi-Source Data Input D. Include Supplemental Data - ANSA. Automatically calculate adjustment When is a user most likely to have a need for running a consolidation for the current close period? A)The status of FCCS_Total_Geography is No Data B)After the financial statements have been approved C)After the period has been closed for posting FCCS journals D)After subledgers have been closed in the ERP and loaded to FCCS - ANSD)After subledgers have been closed in the ERP and loaded to FCCS When setting an account property to a data storage type of "Dynamic Calc" which two are allowed? A. Member Formulas cannot be created B. load data to this account and make member formulas C. load data to this account D. create Member Formulas - ANSD. create Member Formulas When you set the Intercompany Account Attribute Value to Yes, which additional attribute must also be set? A. Plug Account B. Intercompany Account C. Is Plug Account D. Intercompany Entity - ANSA. Plug Account Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a configurable and scalable consolidation solution? A. pre-built integration to combine narrative and data to produce both internal and external reporting packages B. calculations, dashboards and reports to provide analysis for cash flow modeling C. calculations, dashboards and reports as well as derailed data source tracking and an automated cash flow D. calculations, dashboards and reports built on planning frameworks to provide cash flow planning - ANSC. calculations, dashboards and reports as well as derailed data source tracking and an automated cash flow Which dimension includes the FCCS_Global Assumption member that is used to store currency information? A. Account B. From Currency C. Entity D. Currency - ANSC. Entity Which explains why the Currency dimension does NOT display in your application? A. Security access to the Multi-GAAP dimension is required B. Multi-Currency option was not selected at application creation C. Entity-specific security rights were not properly granted D. Security has not been granted - ANSB. Multi-Currency option was not selected at application creation Which four items are active components of the Currency dimension? (Choose four.) A. Entity Currency Adjustments B. Reporting Currencies C. Input Currencies D. Translated Currencies E. Entity Currency F. Parent Currency - ANSB. Reporting Currencies C. Input Currencies E. Entity Currency F. Parent Currency Which four options enable updates to metadata within Financial Consolidation and Close(FCCS)? A)Metadata Import B)Master Data Management Cloud Manager C)fUSE Metadata Editor D)SmartView E)Pod to Pod Connection F)Classic metadata editor - ANSA)Metadata Import C)fUSE Metadata Editor D)SmartView F)Classic metadata editor D. You cannot change the Alias of these default FCCS_ members. - ANSB. You can change the Alias of these default FCCS_ members at any time. Which item describes the use for the Currency dimension property Triangulation Currency? A. The ability to force translations B. The ability to report in multiple currencies C. The ability to calculate foreign exchange rates D. The ability to calculate CTA (Cumulative Translation Adjustment) E. The ability to input foreign exchange rates - ANSC. The ability to calculate foreign exchange rates Which method will run a batch in Data Management? A)Use EPM Automate to run the batch B)Schedule a batch to run on a daily basis C)Users can initiate a batch at any time they like D)Right click the batch to create a job and then schedule E)Batches run automatically when the specified file is uploaded - ANSB)Schedule a batch to run on a daily basis Which option can be used for quarter distributions on a 13-month time period calendar when creating a Financial Consolidation and Close Cloud (FCCS) application? A. 3-3-3-3 B. 3-3-3-4 C. 4-4-4-4 D. 4-4-4-5 - ANSB. 3-3-3-4 Which role can the "Approvals Supervisor" perform? A)They can start and stop a planning unit B)They can start and stop a planning unit and take any action on a planning unit C)They can start but not stop a planning unit D)They cannot stop or start a planning unit but can only give approval - ANSB) They can start and stop a planning unit and take any action on a planning unit Which statement about Financial Close Manager Schedules is False? A)To start all the tasks in a schedule to run you must set the status from Pending to Open B)Once a schedule is Locked, it can't be reopened C)Users can still complete tasks once a schedule has been closed D)You can still add tasks once a schedule has been closed - ANSD)You can still add tasks once a schedule has been closed Which statement correctly describes the Consolidation dimension? A. The dimension contains members to store non-controlling interest and joint venture data. B. The dimension uses a separate member to store data from an entity's descendants. C. The dimension allows users to see input versus journal adjustment data. D. The dimension aggregates input, consolidated, and elimination data together. - ANSB. The dimension uses a separate member to store data from an entity's descendants. Which statement correctly describes what happens to parent entities during consolidation? A. From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity. B. The changes in the relational database are synced to the underlying Essbase cube. C. Since parent entities are tagged as dynamic calc, the consolidation has no effect on the entity dimension. D. The data in the FCCS_Intercompany Eliminations Data Source dimension member is subtracted from the FCCS_TotalInputAndAdjusted Data Source dimension member for each descendant and then added together. - ANSA. From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity. Which statement correctly describes when a consolidation can occur within a given year/scenario? A. An administrator runs Force Consolidate to force the consolidation of all entities regardless of status or content. B. The current period consolidation status is Impacted and the remaining periods are OK. C. A user has a power user access but only write access to the entity. D. A user with power user access first locks the entity so that other users cannot consolidate the same entity. E. The user specifies the desired parent entity, Feb as the period, Actual as the scenario, and 2018 as the year. - ANSC. A user has a power user access but only write access to the entity. Which statement is correct regarding intercompany eliminations? A. Intercompany eliminations are generally required to remove the effect of transactions within the company. B. Intercompany eliminations are required for sustainability reporting to show the company's waste output. C. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled. D. Intercompany eliminations are needed when a company divests itself of a division. - ANSA. Intercompany eliminations are generally required to remove the effect of transactions within the company. Which three fields must be defined when registering a file-based source system in Data Management? (Choose three.) A. Source Type B. Drill URL C. Cloud Type D. Description E. Name - ANSB. Drill URL D. Description E. Name 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. Ensure security of sensitive data. B. Integrate with source systems. C. Provide predictive analysis and modeling. D. Provide a strong compliance framework that includes auditing and segregation of duties. - ANSA. Ensure security of sensitive data. B. Integrate with source systems. D. Provide a strong compliance framework that includes auditing and segregation of duties. Which three methods would be valid to lock or unlock data? A)Data Status Form B)Financial Reporting report C)Smart View for Excel D)Manage Periods E)Manage Approvals - ANSA)Data Status Form C)Smart View for Excel E)Manage Approvals Which three scenarios result in foreign currency translation during the default consolidation process? (Choose three.) A. A base entity currency has a parent entity with a matching default currency. B. A base entity currency has a parent entity with a different default currency. C. A parent entity has the same default currency as its parent. D. A parent entity has a different currency from its parent. E. A shared entity has a parent with a different currency. - ANSB. A base entity currency has a parent entity with a different default currency. D. A parent entity has a different currency from its parent. E. A shared entity has a parent with a different currency. Which three tasks can users perform on Financial Consolidated Close Cloud data with Smart View in Excel? (Choose three.) A. Submit data B. Adjust data with Journals C. Retrieve data D. Run a rule such as Consolidate or Translate - ANSA. Submit data C. Retrieve data D. Run a rule such as Consolidate or Translate Which two are components of default currency translation? A)The periodic activity of a revenue account is used to translate the balance at the AverageRate B)The year to date balance of a revenue account is translated at the Average Rate C)CTA (Cumulative Translation Adjustment) is calculated by the movement in the AverageRate D)CTA (Cumulative Translation Adjustment) is calculated by the difference between thecurrent Average Rate and prior month's Average Rate E)The periodic activity for an asset account is translated at the Average Rate - ANSA)The periodic activity of a revenue account is used to translate the balance at the AverageRate E)The periodic activity for an asset account is translated at the Average Rate Which two are true for Financial Consolidation and Close Cloud Service (FCCS) data sets? A)Entity is always included in a data set B)Entity is an optional inclusion in a data set C)Dimension attributes can be included in a data set D)Only administrators can create and update data sets E)Only administrators or power users can create and update data sets - ANSA)Entity is always included in a data set E)Only administrators or power users can create and update data sets Which two data extract export file types are available within Financial Consolidation and Close (FCCS)? (Choose two.) A. DAT file type B. Excel XLS file type C. Comma delimited D. Tab delimited - ANSC. Comma delimited D. Tab delimited