Oracle Financial Consolidation and Close 2020 Implementation Essentials v1.0 (1z0-1081-20)

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Total 63 questions

When designing a report in Financial Reporting Studio, which two are insertable report objects?

  • A. Chart
  • B. Grid
  • C. Header
  • D. Footer

Answer : AB

Report objects include:
ג€¢ Grids
ג€¢ Text

Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled?

  • A. Ownership Percentage
  • B. Control
  • C. Consolidation Method
  • D. Consolidation Percentage
  • E. Minority Interest Percentage

Answer : BCD

The Consolidation Method and Control setting can be manually changed if needed.

Which statement correctly describes the Consolidation dimension?

  • A. The dimension allows users to see input versus journal adjustment data.
  • B. The dimension contains members to store non-controlling interest and joint venture data.
  • C. The dimension uses a separate member for data from an entityג€™s level zero descendants.
  • D. The dimension allows users to view data in the parent currency.

Answer : D


What is the correct Currency dimension member to select when running an Intercompany Matching Report?

  • A. Parent Currency
  • B. Reporting Currency
  • C. Input Currency
  • D. Entity Currency

Answer : B

Currency (Must be a Reporting Currency)

What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?

  • A. Parent Currency
  • B. Local Currency
  • C. Base Currency
  • D. Entity Currency

Answer : D


You need to define a form that requires users to select the entity for which to view data from a list that includes USA, Canada, and South America, but no other entities.
Where on the form do you place the Entity dimension?

  • A. the Point of View
  • B. rows
  • C. columns
  • D. the Page Axis

Answer : A

The point of view is displayed on the top of the form. Elements that can be changed are displayed as links in the point of view. For example, if the Entity dimension is displayed as a link, you can change the entity but not the other dimensions in the point of view.

Which three are seeded data forms created during business process creation?

  • A. Exchange Rate Multi-period
  • B. Override Rates
  • C. Shares Outstanding
  • D. Data Status
  • E. Headcount

Answer : ABD

What are two important first steps in initially setting up Task Manager?

  • A. Set up Users.
  • B. Define system settings such as Organization units, Holiday rules and Task attachment size.
  • C. Assign tasks to users.
  • D. Create a schedule and set it to Open status.

Answer : AB


Which statement is false regarding establishing security for Financial Consolidation and Close?

  • A. Security can be assigned at a prevent level.
  • B. Security is mandatory for one dimension.
  • C. The Identity Domain Administrator inherits full access privileges.
  • D. All members are accessible for dimensions with no security applied.
  • E. Security can be disabled for any dimension.

Answer : C

The Identity Domain Administrator is not a functional role; it does not inherit access privileges granted through functional roles. To access service features, the
Identity Domain Administrator must be granted one of the four functional roles in Tax Reporting.

Which two statements are true regarding shared members and valid intersection rules?

  • A. Shared members are supported in valid intersection rules.
  • B. If a base member is included in a valid intersection rule, then any shared member is included in the rule.
  • C. Shared members are not supported in valid intersection rules.
  • D. If a shared member is selected for a valid intersection rule, then the base member is not included in the rule.

Answer : AB

Shared members are supported in valid intersection rules. If a base member is selected for a valid intersection rule, any shared members are also included in the rule.

For your business process, you need to modify the results calculated by the Balance the Balance Sheet system rule.
Which is the proper method to modify the results of the default Balance the Balance Sheet calculation?

  • A. Click Final Calculations on the Consolidation Process page and add a Configurable Calculation rule in Calculation Manager.
  • B. Click Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation rule-set.
  • C. Edit the numbers using a web form or Smart View after consolidating.
  • D. Create an on-demand rule in Calculation Manager that you run after consolidation.

Answer : B

From the Consolidation Process page, select the Consolidated tab, and then selectConfigurable Consolidation.
Click the Create Rule Set.

A company would like to capture Fixed Asset additions and disposals within the Movement dimension.
Which three tasks are necessary to achieve this goal?

  • A. Add custom members for Additions and Disposals as children of FCCS_Mvmts_CapitalExpenditures.
  • B. Build a custom Movement member for Fixed Assets with child members for Additions and Disposals.
  • C. Load detailed Fixed Asset data to Movement members.
  • D. Add custom Movement members to the FCCS_CashFlow hierarchy.
  • E. Create a Roll Forward in the account dimension.

Answer : CDE

Which components are pre-built into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?

  • A. pre-built integrations to combine narrative and data to produce both internal and external reporting packages
  • B. calculations, dashboards and reports to provide analysis for cash flow modeling
  • C. calculations, dashboards and reports as well as detailed data source tracking and an automated cash flow
  • D. calculations, dashboards and reports built on planning frameworks to provide cash flow planning

Answer : C


Which security rights are required to have access to Dimension Management from directly within Financial Consolidation and Close?

  • A. Metadata Supervisor
  • B. Power User
  • C. Metadata Administrator
  • D. Service Administrator

Answer : D

Service Administrators have Write access to all dimension members and to all forms.

Which statement is FALSE when setting up Shared Entities?

  • A. You build an alternate hierarchy by using partial share Entity members.
  • B. You can change the base currency of the shared entity.
  • C. The calculation status will not change in all instances when data is changed in one instance.
  • D. When data is posted to one shared entity, the data is posted to all instances.

Answer : C

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Total 63 questions