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FCCS EXAM QUESTIONS WITH ACCURATE ANSWERS
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FCCS EXAM QUESTIONS WITH ACCURATE ANSWERS
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FCCS EXAM QUESTIONS WITH ACCURATE ANSWERSIn 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
Accurate 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
Accurate 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
Accurate 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 not support scripting.
D. The script will not work since the UD5 member referenced does not start
with FCCS_
E. The script will work if the script is referenced in the Explicit mapping type
with #SQL as the target.
Accurate 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. January should be consolidated for the change and nothing needs to happen
for February.
Accurate 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.
Accurate 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
Accurate 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.
Accurate 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 comparisons and KPI's that
measure cost controls
C. leverage compliance efforts to fix process issues across all businesses and
provide oversight for
risk awareness
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
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