FCCS Exam (Questions and Answers A+ Graded 100% Verified)

FCCS Exam (Questions and Answers A+ Graded 100% Verified) In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month? 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 CORRECT ANSWER: A. when the tasks are repeatable over multiple close cycles 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 CORRECT ANSWER: B) They can start and stop a planning unit and take any action on a planning unit 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 CORRECT ANSWER: C. Comma delimited D. Tab delimited When creating a member mapping for account Sales in Data Management, the following script is entered. UD5 refers to a Product custom dimension: WHEN UD5 LIKE 'CAR_%' THEN 'AUTO_SALES' ELSE 'SALES' Which statement is True? A. The script can be eliminated by using a multi-dim map on the Product dimension that also looks for the account Sales. B. The script will work if the script is referenced in the In mapping type with #SQL as the target. C. The script will not work since Data Management does CORRECT ANSWER: B. The script will work if the script is referenced in the In mapping type with #SQL as the target. 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. J CORRECT ANSWER: B. January and February should be consolidated. 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. CORRECT ANSWER: B. The dimension uses a separate member to store data from an entity's descendants. Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020? A)Each period in the year must consolidate separately B)Parent account calculations depend on the sequencing C)There is no reason to consolidate the years sequentially D)Rollforward calculations are populated with correct results CORRECT ANSWER: D)Rollforward calculations are populated with correct results Which statement is true regarding Data Management categories? A. Categories are defined on the Global Mapping tab and then the frequency is specified on the Application Mapping tab B. Categories must begin with FCCS_ to match their Financial Consolidation and Close counterparts. C. Application mapping is not required if the global mapping target category is exactly correct. D. The category's time frequency allows data to be loaded to daily, weekly, and monthly scenarios. CORRECT ANSWER: C. Application mapping is not required if the global mapping target category is exactly correct. 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 co CORRECT ANSWER: A. 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 Which two prebuilt calculations run on the Movement dimension to determine CTA by account? A)Prior Average Rate minus Current Average Rate multiplied by FCCS_Mvmts_Subtotal 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)FCCS_Mvmts_Subtotal multiplied by Ending Rate minus FCCS_Mvmts_Subtotal multiplied byAverage Rate CORRECT ANSWER: C) FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance carry forward D)FCCS_Mvmts_Subtotal multiplied by Ending Rate minus FCCS_Mvmts_Subtotal multiplied byAverage Rate When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-Source data options can be selected? A)Supplemental Data B)Data Management C)ERP Cloud D)ERP R12 CORRECT ANSWER: A)Supplemental Data B)Data Management How is drill-back enabled to Supplemental Data Manager (SDM) from the Supplemental Data member within the Multi-source dimension? A. Drill-back to SDM is not an available feature. B. Droll-back is available from any Multi-source dimension member by default, know the source of the origination data load. C. By selecting Track Multi-source Data Input option for Supplemental Data during the application creation process. D. By selecting Track Multi-source Data Input option for Other Data during t CORRECT ANSWER: B. Droll-back is available from any Multi-source dimension member by default, know the source of the origination data load. 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 CORRECT ANSWER: A. Plug Account 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 CORRECT ANSWER: B. FCCS_Proportion D. FCCS_Entity Consolidation E. FCCS_Entity Total F. FCCS_Contribution When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled. Which statement is true? A. The FCCS_No Intercompany member of the ICP dimension will be used for all data. B. Data can be stored by intercompany partner but no eliminations will occur. C. An extra custom dimension will be available. D. The ICP dimension will be omitted. CORRECT ANSWER: D. The ICP dimension will be omitted. 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 CORRECT ANSWER: C. FCCS_CashFlow_Accounts Payable account member D. FCCS_Total Balance Sheet - Cash and NonCash account member When defining a batch in Data Management, which statement is True? A. Each data load rule must specify the period or the batch will default to the POV period. B. Batches can import from source or export to target, but not both. C. Batches can execute data loads for multiple locations. D. A batch replaces the need for data load rules. E. A batch can load to multiple plan types. CORRECT ANSWER: C. Batches can execute data loads for multiple locations. Which is NOT a member of the Data Source Dimension created by Financial Consolidation and Close (FCCS)? A. FCCS_No Data Source B. FCCS_Data Input C. FCCS_SystemTypes D. FCCS_Proportion CORRECT ANSWER: D. FCCS_Proportion 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 CORRECT ANSWER: C. the data load cube name Which four options enable updates to me