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NEW QUESTION # 24
How do you navigate if you want to export a form to a Snapshot file?
- A. From the Home page, select Tools, and then Migration.
- B. Open the form, select Actions, and then Export.
- C. From the Navigator menu, select Forms.
- D. From the Home page, select Tools, and then Clone Snapshot.
Answer: B
Explanation:
Explanation
To export a form to a Snapshot file, you need to open the form, select Actions, and then Export. This will create a Snapshot file that contains the form definition and data. You can use this file to import the form to another application or environment. The other options are not related to exporting forms. Clone Snapshot is used to copy an existing Snapshot file, Migration is used to migrate artifacts between applications or environments, and Forms is used to create or edit forms. 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 4-10.
NEW QUESTION # 25
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)
- A. Selecting a shared member for a rule does not include its primary instance.
- B. If a shared member is selected for a rule, the primary instance of the member is selected as well.
- C. Selecting the primary instance of a member does not include shared members.
- D. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
Answer: A,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 # 26
The company PQR has an ownership structure as shown below.
H_1 has an intercompany transaction with P_2. For which entity or entities does consolidation need to be run in order for the transaction to be eliminated?
- A. H 1 and P 2
- B. No elimination is performed, because H 1 and P 1 do not have the same parent.
- C. Hickory and Paducah
- D. PQR
Answer: C
Explanation:
Explanation
For H_1 to have an intercompany transaction with P_2, consolidation needs to be run for Hickory and Paducah entities in order for the transaction to be eliminated. Intercompany transactions are transactions between entities that belong to the same group or consolidation hierarchy. Intercompany transactions need to be eliminated during consolidation to avoid double-counting of revenues, expenses, assets, liabilities, etc.
Intercompany transactions are eliminated at the common parent entity level of the intercompany entities. For example, if H_1 has an intercompany transaction with P_2, the transaction will be eliminated at Hickory level (the parent of H_1) and Paducah level (the parent of P_2). The other options are not correct. PQR is not the common parent entity of H_1 and P_2, so consolidation does not need to be run for PQR to eliminate the transaction. H_1 and P_2 are not parent entities, so consolidation does not need to be run for them either.
Intercompany transactions can be eliminated even if intercompany entities do not have the same parent, as long as they share a common ancestor entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.
NEW QUESTION # 27
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)
- A. FX Rates - Ending
- B. FX Rates - Average
- C. FX Rates - None
- D. FX Rates - Historical
- E. FX Rates - Opening
Answer: A,B
Explanation:
Explanation
When configuring default translation methods for Flow and Balance accounts, two rate account options are available: FX Rates - Average and FX Rates - Ending. These rate account options determine which exchange rate is used to translate data from local currency to reporting currency. FX Rates - Average uses the average exchange rate for the period, which is suitable for flow accounts that capture movements within the period. FX Rates - Ending uses the ending exchange rate for the period, which is suitable for balance accounts that represent a point in time. The other rate account options, such as FX Rates - Historical, FX Rates - Opening, and FX Rates - None, are not available when configuring default translation methods for Flow and Balance accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 48; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-2.
NEW QUESTION # 28
You need a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules.
Which type of report can you run to accomplish this?
- A. Financial
- B. Intercompany
- C. Journal
- D. Consolidation
Answer: D
Explanation:
Explanation
The type of report that you can run to display all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules, is a Consolidation report. This report shows the details of how consolidated data is calculated for each account in each entity. You can view the source data, adjustments, eliminations, ownership percentage, currency translation, rounding differences, and consolidated data for each account. The other types of reports do not show all adjustments. A Journal report shows only journal adjustments, a Financial report shows only consolidated data without details, and an Intercompany report shows only intercompany eliminations. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 35; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 7-8.
NEW QUESTION # 29
Which two are members in the Consolidation dimension? (Choose two.)
- A. FCCS Entity Input
- B. FCCS Data Input
- C. FCCS Proportion
- D. FCCS Total input And Adjusted
Answer: A,C
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 # 30
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. Movement
- B. View
- C. Consolidation
- D. Account
Answer: B,C
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 # 31
Security is enabled for the Account dimension, but you have not assigned member access rights to any users or groups.
What will be users' default access to members in the Account dimension?
- A. Write
- B. None
- C. Read
- D. Comment
Answer: C
Explanation:
Explanation
The users' default access to members in the Account dimension when security is enabled but no member access rights are assigned is Read. This means that users can view data for any account member, but they cannot enter or modify data. Read is also the default access level for any dimension when security is enabled but no member access rights are assigned. The other options are not users' default access to members in the Account dimension when security is enabled but no member access rights are assigned. None means that users cannot view or modify data for any account member, which would prevent them from using the application.
Comment means that users can view and comment on data for any account member, but they cannot enter or modify data.
Write means that users can view and modify data for any account member, which would give them full access to the application.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 17; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-9.
NEW QUESTION # 32
Which three dimensions can be included in an approval group? (Choose three.)
- A. Movement
- B. Multi-GAAP
- C. Account
- D. Entity
- E. Scenario
Answer: C,D,E
Explanation:
Explanation
The three dimensions that can be included in an approval group are:
Entity: This is the dimension that represents the organizational structure of the business. You can include entities or entity groups in an approval group to define the scope of data submission and approval.
Account: This is the dimension that represents the financial accounts of the business. You can include accounts or account groups in an approval group to define the type of data that needs to be submitted and approved.
Scenario: This is the dimension that represents the type of data that is submitted, such as Actual, Budget, or Forecast. You can include scenarios or scenario groups in an approval group to define the purpose of data submission and approval.
The other options are not dimensions that can be included in an approval group. Multi-GAAP is a dimension that represents the different accounting standards that are used to report financial data, such as IFRS or US GAAP. Movement is a dimension that represents the changes in account balances over time, such as Opening Balance, Closing Balance, or Net Movement. : 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 # 33
Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)
- A. Average Rate
- B. Local Rate
- C. Opening Rate
- D. Ending Rate
Answer: A,D
Explanation:
Explanation
The seeded exchange rate forms display two rate accounts: Average Rate and Ending Rate. These rate accounts show the exchange rates used for translating data from local currency to reporting currency. The Average Rate account shows the average exchange rate for the period, which is used for translating flow accounts. The Ending Rate account shows the ending exchange rate for the period, which is used for translating balance accounts. The other rate accounts, such as Local Rate, Opening Rate, and Historical Rate, are not available in the seeded exchange rate forms. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Study Guide, page 49-50; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-4.
NEW QUESTION # 34
Which customization can you perform on the Navigation Flows page?
- A. Add or Hide cards.
- B. Select a color scheme.
- C. Set a default POV by user group.
- D. Select a data form to display at start up based on user group.
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 # 35
Which four items are included in the Currency dimension? (Choose four.)
- A. Default Currency
- B. Reporting Currencies
- C. Journal Input Currencies
- D. Parent Currency
- E. Entity Currency
- F. Input Currencies
Answer: B,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 # 36
For which four dimensions does Financial Consolidation and Close maintain calculation status? (Choose four.)
- A. Data Source
- B. Period
- C. Year
- D. Entity
- E. Scenario
- F. Consolidation
Answer: B,C,D,E
Explanation:
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. References: 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.
NEW QUESTION # 37
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
- A. Each period in the year must consolidate separately.
- B. There is no reason to consolidate years sequentially.
- C. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
- D. Parent account calculations depend on the sequencing.
Answer: C
Explanation:
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. References: 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.
NEW QUESTION # 38
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)
- A. Set the currency on the form to Parent Currency.
- B. In the member selection for Entity, do not include shared entities; include only primary instances of entities.
- C. Grant the data input users Write access to the dimension members used on the form.
- D. Set the consolidation member on the form to FCCS Entity Input.
- E. Select level 0 dimension members for POV\ rows, and columns. www*'
Answer: C,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 # 39
Which statement is FALSE regarding establishing security for Financial Consolidation and Close?
- A. All members are accessible for dimensions with no security applied.
- B. The Identity Domain Administrator inherits full access privileges.
- C. Security is mandatory for one dimension.
- D. Security can be disabled for any dimension.
- E. Security can be assigned at a parent level.
Answer: D
Explanation:
Explanation
The statement that is false regarding establishing security for Financial Consolidation and Close is: Security can be disabled for any dimension. This is false because security is mandatory for one dimension: Entity. You cannot disable security for this dimension, as it controls access to data by entity. The other statements are true regarding establishing security for Financial Consolidation and Close. The Identity Domain Administrator inherits full access privileges by default. Security can be assigned at a parent level, which applies to all descendants of that parent. All members are accessible for dimensions with no security applied, unless they are restricted by another dimension. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 17; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-8.
NEW QUESTION # 40
For which scenario would an On-Demand rule be an appropriate solution?
- A. To import data into a form or Smart View worksheet
- B. To allocate data to base entities prior to consolidation
- C. To add a column with a calculation to a report
- D. To perform a custom currency translation for a subset of accounts
Answer: D
Explanation:
Explanation
Performing a custom currency translation for a subset of accounts is a scenario where an On-Demand rule would be an appropriate solution. An On-Demand rule is a type of business rule that can be executed manually by users on forms or Smart View worksheets. An On-Demand rule can perform calculations or transformations on selected data cells without affecting other data cells. For example, an On-Demand rule can be used to translate data from local currency to reporting currency using a different exchange rate than the default one for a subset of accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 61-62; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.
NEW QUESTION # 41
Which two statements are true about Enterprise Journals? (Choose two.)
- A. You can assign a team as preparer or reviewer.
- B. Line items can only include entities that have been enabled for Enterprise Journals.
- C. You cannot deploy Enterprise Journals to a period with Pending status.
- D. Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
Answer: A,B
Explanation:
Explanation
The two statements that are true about Enterprise Journals are:
Line items can only include entities that have been enabled for Enterprise Journals. You can enable or disable entities for Enterprise Journals in the Entity dimension properties.
You can assign a team as preparer or reviewer. You can create teams of users and assign them roles in the Enterprise Journal workflow.
The other statements are false. You can deploy Enterprise Journals to a period with any status, as long as it is not locked. Users with either the Service Administrator or Power User role can create Enterprise Journal templates, but they also need the Create Journal Template role assignment. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 25; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 6-2.
NEW QUESTION # 42
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