FCCS Cert
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? - ANS-robust consolidation engine that provides automated aggregations,
intercompany eliminations and translations without requiring a strong IT footprint
a configurable reporting solution with prebuilt 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? - ANS-FCCS_Entity
Consolidation
FCCS_Entity Total
FCCS_Proportion
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? - ANS-The subsidiary must have a
balance not equal to zero in Common Stock.
Common Stock must have an Exchange Rate Type set to Historical Rate Override.
A company would like to capture Fixed Asset additions and disposals within the Movement
dimension. Which three tasks are necessary to achieve this goal? - ANS-Build a custom
Movement member for Fixed Assets with dependent custom members for Additions and
Disposals.
Load detailed Fixed Asset data to Movement members.
Add custom Movement members to the FCCS_CashFlow hierarchy.
A new Sheet tab in Excel is copied from an existing tab that contains a Smart View query, but
clicking Refresh does not refresh the data and the Smart View (Point of View) POV bar does not
display.What additional step is required to pull data in the new tab and change the POV? -
ANS-Activate the Connection.
A user creates an adhoc Smart View query that is defined to show the Financial Consolidation
and Close Cloud parent Account, FCCS_Cash and Cash Equivalents, and all base account
members below it in the rows of the spreadsheet. If a new base account is added to the
, FCCS_Cash and Cash Equivalents parent account, what method can the user select to add the
new account to the rows in the query? - ANS-Zoom out on the FCCS_Cash and Cash
Equivalents parent account, then re-zoom in.
An entity's Common Stock balance is made up of data loaded through Data Management and
an adjusting journal entry posted in the application. The Common Stock balance must not
re-translate each month. What two data entries need to happen to have the Common Stock
balance bypass the default translation of equity accounts? - ANS-Data entry to the Common
Stock account with the FCCS_Amount Override member of the Consolidation dimension and
the Data Source member FCCS_Managed Data.
By default, security access is set to "None" for which three dimensions? - ANS-Entity
Account
Movement
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? - ANS-FCCS_CashFlow_AccountsPayable movement
member
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 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? - ANS-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? - ANS-Consolidation, Currency, Account
Financial Consolidation Close Cloud maintains the status calculation for which combination of
dimensions? - ANS-Period, Scenario, Base Entity and Parent Entity
For data load rules in Data Management, which two statements are FALSE? - ANS-Valid load
types are Merge and Replace.
A job must first run to import the data file before the user can run the data load rule.
For which three levels can Profiles be set in Data Management? - ANS-User
System
Application
For which three tasks can Data Management be used? - ANS-loading data from a fixed width or
delimited text file
drilling through from a web form or Smart View
loading data that is period-to-date or year-to-date
How can Financial Consolidation and Close (FCCS) Metadata be managed via SmartView? -
ANS-Via Shared or Private Connections
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? - ANS-robust consolidation engine that provides automated aggregations,
intercompany eliminations and translations without requiring a strong IT footprint
a configurable reporting solution with prebuilt 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? - ANS-FCCS_Entity
Consolidation
FCCS_Entity Total
FCCS_Proportion
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? - ANS-The subsidiary must have a
balance not equal to zero in Common Stock.
Common Stock must have an Exchange Rate Type set to Historical Rate Override.
A company would like to capture Fixed Asset additions and disposals within the Movement
dimension. Which three tasks are necessary to achieve this goal? - ANS-Build a custom
Movement member for Fixed Assets with dependent custom members for Additions and
Disposals.
Load detailed Fixed Asset data to Movement members.
Add custom Movement members to the FCCS_CashFlow hierarchy.
A new Sheet tab in Excel is copied from an existing tab that contains a Smart View query, but
clicking Refresh does not refresh the data and the Smart View (Point of View) POV bar does not
display.What additional step is required to pull data in the new tab and change the POV? -
ANS-Activate the Connection.
A user creates an adhoc Smart View query that is defined to show the Financial Consolidation
and Close Cloud parent Account, FCCS_Cash and Cash Equivalents, and all base account
members below it in the rows of the spreadsheet. If a new base account is added to the
, FCCS_Cash and Cash Equivalents parent account, what method can the user select to add the
new account to the rows in the query? - ANS-Zoom out on the FCCS_Cash and Cash
Equivalents parent account, then re-zoom in.
An entity's Common Stock balance is made up of data loaded through Data Management and
an adjusting journal entry posted in the application. The Common Stock balance must not
re-translate each month. What two data entries need to happen to have the Common Stock
balance bypass the default translation of equity accounts? - ANS-Data entry to the Common
Stock account with the FCCS_Amount Override member of the Consolidation dimension and
the Data Source member FCCS_Managed Data.
By default, security access is set to "None" for which three dimensions? - ANS-Entity
Account
Movement
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? - ANS-FCCS_CashFlow_AccountsPayable movement
member
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 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? - ANS-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? - ANS-Consolidation, Currency, Account
Financial Consolidation Close Cloud maintains the status calculation for which combination of
dimensions? - ANS-Period, Scenario, Base Entity and Parent Entity
For data load rules in Data Management, which two statements are FALSE? - ANS-Valid load
types are Merge and Replace.
A job must first run to import the data file before the user can run the data load rule.
For which three levels can Profiles be set in Data Management? - ANS-User
System
Application
For which three tasks can Data Management be used? - ANS-loading data from a fixed width or
delimited text file
drilling through from a web form or Smart View
loading data that is period-to-date or year-to-date
How can Financial Consolidation and Close (FCCS) Metadata be managed via SmartView? -
ANS-Via Shared or Private Connections
