Oracle 1z0-1081-23 Certification All-in-One Exam Guide May-2024
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NEW QUESTION # 10
Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?
- A. Pre-built integrations to combine narrative and data to produce both internal and external reporting packages
- B. Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow
- C. Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning
- D. Calculations, dashboards, and reports to provide analysis for cash flow modeling
Answer: B
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 # 11
What action requires refreshing the database?
- A. You change the ownership percentage for an entity.
- B. You edit the alias for a member in the Entity dimension.
- C. You deploy a new Configurable Calculation rule in Calculation Manager.
- D. You edit the Consolidation Operator for a member in the Account dimension.
Answer: B
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 # 12
Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)
- A. Entity
- B. Period
- C. Account
- D. Scenario
- E. Year
Answer: B,E
Explanation:
Explanation
Year and Period are not selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager. Supplemental Data Manager is a feature that allows you to collect and review additional data that is not part of the standard consolidation process, such as tax schedules, disclosures, etc. A Collection Interval is a set of dimensions that defines the scope of data collection for a Form Group. The Workflow dimensions are the dimensions that determine the approval process for the data entered in the forms. The selectable Workflow dimensions are Scenario, Entity, and Account. Year and Period are not Workflow dimensions because they are fixed by the application settings and do not require approval. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 79-80; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 12-2.
NEW QUESTION # 13
For which task categories is Audit enabled by default?
- A. Data only
- B. Journals
- C. All task categories
- D. No task categories
Answer: C
Explanation:
Explanation
Audit is enabled by default for all task categories in Financial Consolidation and Close. Audit is a feature that allows you to track the changes made to data, metadata, security, application settings, etc. in Financial Consolidation and Close. You can view the audit records in the Audit page or export them to a file. Audit is enabled by default for all task categories, such as Data, Journals, Metadata, Security, etc., but you can disable it for specific task categories if needed. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 85; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-5.
NEW QUESTION # 14
Which of the following is allowed for accounts with the data storage type of Dynamic Calc?
- A. Load data to this account and create member formulas.
- B. Create member formulas.
- C. Load data to this account.
- D. Enter data through a data form.
Answer: B
NEW QUESTION # 15
Which four sample ratios can be selected during business process creation? (Choose four.)
- A. Days Sales in Receivables
- B. Earnings per Share
- C. Gross Margin
- D. Contribution Margin
- E. Debt Ratio
- F. Inventory Ratios
Answer: A,C,E,F
Explanation:
Explanation
The four sample ratios that can be selected during business process creation are Inventory Ratios, Debt Ratio, Days Sales in Receivables, and Gross Margin. These ratios are predefined calculations that can be used to measure the financial performance and position of an entity. You can select one or more of these ratios when creating a business process in Financial Consolidation and Close. The other options, such as Contribution Margin and Earnings per Share, are not sample ratios that can be selected during business process creation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 14; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-6.
NEW QUESTION # 16
Which statement correctly describes what happens to parent entities during consolidation?
- A. For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
- B. Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
- C. The changes in the relational database are synced to the underlying Essbase cube.
- D. Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
Answer: B
Explanation:
Explanation
The statement that correctly describes what happens to parent entities during consolidation is: Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities. This means that the data from the child entities after applying ownership percentage and currency translation is summed up and stored in the parent entities before applying intercompany eliminations and adjustments. The other statements are incorrect descriptions of what happens to parent entities during consolidation. Parent entities are not tagged as Dynamic Calc; they are tagged as Store or Dynamic Calc and Store, depending on whether they have input data or not. The consolidation does affect the entity dimension, as it updates the calculation status and data values of each entity. The changes in the relational database are not synced to the underlying Essbase cube; they are stored in both places simultaneously. 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 # 17
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)
- A. Selecting the primary instance of a member does not include shared members.
- B. If a shared member is selected for a rule, the primary instance of the member is selected as well.
- C. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
- D. Selecting a shared member for a rule does not include its primary instance.
Answer: C,D
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 # 18
Which statement is true of journals created from Recurring templates?
- A. Journals for recurring templates are created automatically when you open a period for journals.
- B. The initial status of journals created from Recurring templates is Approved.
- C. The initial status of journals created from Recurring templates is Posted.
- D. The line items in journals created from Recurring templates are read only.
Answer: A
Explanation:
Explanation
Journals for recurring templates are created automatically when you open a period for journals. Recurring templates are used to create journals that repeat in multiple periods with the same or different amounts. You can specify the frequency, start period, end period, and amount type for recurring templates. The initial status of journals created from recurring templates is Unposted, not Approved or Posted. The line items in journals created from recurring templates are editable, not read only. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 75-76; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 10-7.
NEW QUESTION # 19
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. Bar
- C. Line
- D. Tile
Answer: D
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 # 20
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. Movement
- B. Account
- C. Consolidation
- D. View
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 # 21
Which statement is true of reporting currencies?
- A. All input currencies that you add are automatically added as reporting currencies as well.
- 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. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
Answer: D
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 # 22
Which statement correctly describes the Consolidation dimension?
- A. The dimension allows users to view data in the parent currency.
- B. The dimension uses a separate member for data from an entity's level-zero descendants.
- C. The dimension allows users to see input versus journal adjustment data.
- D. The dimension contains members to store non-controlling interest and joint venture data.
Answer: B
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 # 23
Which four items are included in the Currency dimension? (Choose four.)
- A. Reporting Currencies
- B. Default Currency
- C. Input Currencies
- D. Parent Currency
- E. Entity Currency
- F. Journal Input Currencies
Answer: A,C,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 # 24
When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?
- A. Intercompany Entity
- B. Is Plug Account
- C. Intercompany Account
- D. Plug Account
Answer: D
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATION-DEVELOPME
NEW QUESTION # 25
Which two are members in the Consolidation dimension? (Choose two.)
- A. FCCS Data Input
- B. FCCS Entity Input
- C. FCCS Total input And Adjusted
- D. FCCS Proportion
Answer: B,D
Explanation:
Explanation
The two members that are in the Consolidation dimension are:
FCCS_Entity Input: This is the member that represents the input data for each entity before consolidation. It shows the data in the entity's default currency without any adjustments or eliminations.
FCCS_Proportion: This is the member that represents the data for each entity after applying the ownership percentage. It shows the data in the parent entity's currency after currency translation and ownership adjustment.
The other options are not members of the Consolidation dimension. FCCS Data Input is a member of the Data Source dimension, not the Consolidation dimension. It is used to identify data that is entered or loaded directly into the application. FCCS Total Input And Adjusted is a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from input accounts and adjustment accounts.
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 5-8.
NEW QUESTION # 26
Which customization can you perform on the Navigation Flows page?
- A. Add or Hide cards.
- B. Select a data form to display at start up based on user group.
- C. Set a default POV by user group.
- D. Select a color scheme.
Answer: A
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 # 27
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. Delete the default Approval Unit hierarchy.
- B. Select users with the Service Administrator security role.
- C. Select the Consolidation template when setting up the Approval Unit hierarchy.
- 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 # 28
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)
- A. In the member selection for Entity, do not include shared entities; include only primary instances of entities.
- B. Set the consolidation member on the form to FCCS Entity Input.
- C. Set the currency on the form to Parent Currency.
- D. Grant the data input users Write access to the dimension members used on the form.
- E. Select level 0 dimension members for POV\ rows, and columns. www*'
Answer: B,D,E
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 # 29
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