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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q167-Q172):
NEW QUESTION # 167
How can
the Intercompany dimension be enabled within your application?
- A. During application creation, select the Intercompany Data option.
- B. In the metadata editor, select Enabled for the Intercompany property for the Entity dimension.
- C. In the metadata editor, select IC_Entity_Yes for the Intercompany Entity property for any entity.
- D. In the metadata editor, select IC_Acc_Yes for the Intercompany property for any account.
Answer: B
Explanation:
intercompany_property_for_entities.html
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NEW QUESTION # 168
For which four dimensions does Financial Consolidation and Close maintain calculation status? (Choose four.)
- A. Period
- B. Year
- C. Data Source
- D. Scenario
- E. Consolidation
- F. Entity
Answer: A,B,D,F
Explanation:
Financial Consolidation and Close maintains calculation status for four dimensions: Entity, Period, Scenario, and Year. These dimensions are used to define an approval unit, which is a unit of work that can be calculated, consolidated, translated, and approved. The calculation status indicates the progress of the approval unit through the consolidation process. The other dimensions, such as Data Source, Consolidation, and View, do not have calculation status.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 23-24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-1.
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NEW QUESTION # 169
Which two
statements are true of the roll forward calculation in the Movement dimension?
- A. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.
- B. Values for base-level Movement members are calculated as the difference between Closing Balance and
- C. Values for Opening Balance are retrieved from the prior period Closing Balance.
- D. Translated values for Closing Balance are adjusted to the ending rate for the period.
Answer: C,D
Explanation:
If Entity currency and Parent currency Closing Balance data does not exist in the prior period, then the Ending Rate for the prior period is used.
Opening balance is calculated from the prior period's Closing Balance.
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/built_in_calculations.html
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NEW QUESTION # 170
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
- A. Parent account calculations depend on the sequencing.
- B. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
- C. Each period in the year must consolidate separately.
- D. There is no reason to consolidate years sequentially.
Answer: B
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.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.
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NEW QUESTION # 171
Which two prebuilt calculations run on the Movement dimension to determine CTA by account?
- A. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal multiplied by Average Rate
- B. Prior Ending Rate minus Current Ending Rate divided by FCCS_Mvmts_Subtotal
- C. FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance carry forward
- D. Prior Average Rate minus Current Average Rate multiplied by FCCS_Mvmts_Subtotal
Answer: A,C
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NEW QUESTION # 172
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