1z0-1081-22 Oracle Financial Consolidation and Close 2022 Implementation Professional Questions and Answers

You can change the default FCCS_ member prefix at application creation.

You can change the Alias of these default FCCS_ members at any time.

You canchange the Name of these default FCCS_ members at any time.

You cannot change the Alias of these default FCCS_ members.

Intercompany eliminations are generally required to remove the effect of transactions within the company.

Intercompany eliminations are required for sustainability reporting to show the company’s waste output.

Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.

Intercompany eliminations are needed when a company divests itself of a division.

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when the tasks are repeatable over multiple close cycles

when the tasks require consistent definition across close schedules

when the tasks are often late in completion and they need to be monitored more closely

when the tasks require multiple levels of approvers

The FCCS_No Intercompany member of the ICP dimension is used for all data.

The ICP dimension is omitted.

An extra custom dimension is available.

Data can be stored by intercompany partner but no eliminations will occur.

A translation to theUSD_Reporting currency member for Company IOU

A translation of Company IOU

A consolidation of Company 123

A consolidation of Company XYZ

A translation of Company XYZ to Parent Currency

Values for base-level Movement members are calculated as the difference between Closing Balance and

Opening Balance.

Translated values for Closing Balance are adjusted to the ending rate for the period.

Values for Opening Balance are retrieved from the prior period Closing Balance.

Data for opening balances must be loaded to the Opening Balance member prior to consolidation.

Shared members are supported in valid intersection rules

If a shared member is selected for a valid intersection rule, then the base member is not included in the rule

If a base member is included in a valid intersection rule, then any shared member is not included in the rule

Shared members are not supported in valid intersection rules

The Intercompany Entity attribute for an Entity must be set to Yes to store intercompany data.

Tracking intercompany eliminations is optional.

In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.

Intercompany accounts are assigned plug accounts.

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Common Stock must have an Exchange Rate Type set to Historical Rate Override.

The subsidiary must have a balance not equal to zero in Common Stock.

Common Stock must have a Data Storage property set to Never Share.

USD must be created as a reporting currency.

The subsidiary must have a parent entity with a GBP currency.

Designing dynamic reports

Expanded vs. single data segments

Report performance

Suppress missing blocks

Process Management

Account Reconciliation Management

Data Management

Supplemental Data Management

Financial Close Management

Any number of months can be selected

12-month only

12-month and 13-month

12-month, 13-month and a 14-month