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Title: 1z0-1081-23 Exam Questions - Real & Updated Questions PDF [Q13-Q30]

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 1z0-1081-23 Exam Questions - Real & Updated Questions PDF
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NEW QUESTION 13How do you navigate if you want to export a form to a Snapshot file?
 From the Home page, select Tools, and then Clone Snapshot.
 Open the form, select Actions, and then Export.
 From the Home page, select Tools, and then Migration.
 From the Navigator menu, select Forms.
ExplanationTo 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 Close2023 Implementation Essentials Exam Study Guide, page 23; [Oracle Financial Consolidation and Close Cloud Service User’s Guide], page 4-10.NEW QUESTION 14Which statement is true of journals created from Recurring templates?
 The initial status of journals created from Recurring templates is Approved.
 Journals for recurring templates are created automatically when you open a period for journals.
 The line items in journals created from Recurring templates are read only.
 The initial status of journals created from Recurring templates is Posted.
ExplanationJournals for recurring templates are created automatically when you open a period for journals. Recurring templates are used to create journals that repeat in multiple periods with the same or different amounts. You can specify the frequency, start period, end period, and amount type for recurring templates. The initial status of journals created from recurring templates is Unposted, not Approved or Posted. The line items in journals created from recurring templates are editable, not read only. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 75-76; [Oracle Financial Consolidation and Close Cloud Service Administrator’s Guide], page 10-7.NEW QUESTION 15Which two statements are true about Enterprise Journals? (Choose two.)
 You cannot deploy Enterprise Journals to a period with Pending status.
 Line items can only include entities that have been enabled for Enterprise Journals.
 You can assign a team as preparer or reviewer.
 Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
ExplanationThe 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 16Which statement is FALSE about Task Manager schedules?
 You can still add tasks to a schedule that has been closed.
 Users can still complete tasks in a schedule that has been closed.
 You can re-open a schedule that has been locked.
 To start all the tasks in a schedule, you must change the status from Pending to Open.
ExplanationThe statement that is false about Task Manager schedules is: You can still add tasks to a schedule that has been closed. This is false because you cannot add tasks to a schedule that has been closed; you can only add tasks to a schedule that is open or pending. Closing a schedule means that the schedule is completed and no further changes are allowed. The other statements are true about Task Manager schedules. Users can still complete tasks in a schedule that has been closed, as long as the tasks are not past due. You can re-open a schedule that has been locked, as long as you have the Unlock Schedule role assignment. To start all the tasks in a schedule, you must change the status from Pending to Open, which triggers the task start dates and due dates. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 43; Oracle Financial Consolidation and Close Cloud Service User’s Guide, page 8-4.NEW QUESTION 17Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)
 Consolidation Percentage
 Control
 Ownership Percentage
 Minority Interest Percentage
 Consolidation Method
ExplanationThe three components that can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled are Consolidation Percentage, Ownership Percentage, and Consolidation Method. These components are part of the ownership details that define how an entity is consolidated with its parent entity. You can manually edit these components on the Manage Ownership page for each entity, scenario, year, and period. The other components, such as Control and Minority Interest Percentage, are not editable on the Manage Ownership page. They are either calculated automatically based on the ownership percentage or derived from the consolidation method. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 25-26; [Oracle Financial Consolidation and Close Cloud Service Administrator’s Guide], page 5-6.NEW QUESTION 18Which two statements are true about the roll forward calculation in the Movement dimension? (Choose two.)
 Translated values for Closing Balance are adjusted to the ending rate for the period.
 Values for Opening Balance are retrieved from the prior period’s Closing Balance.
 Data for opening balances must be loaded to the Opening Balance member prior to consolidation.
 Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.
ExplanationThe two statements that are true about the roll forward calculation in the Movement dimension are:Translated values for Closing Balance are adjusted to the ending rate for the period. This means that the closing balance values are translated to the parent entity’s currency using the exchange rate at the end of the period.Values for Opening Balance are retrieved from the prior period’s Closing Balance. This means that the opening balance values are derived from the closing balance values of the previous period.The other statements are false about the roll forward calculation in the Movement dimension. Data for opening balances does not need to be loaded to the Opening Balance member prior to consolidation; it is automatically calculated from the prior period’s closing balance. Values for base-level Movement members are not calculated as the difference between Closing Balance and Opening Balance; they are calculated as the difference between Closing Balance and Total Input And Adjusted.   : Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 39; Oracle Financial Consolidation and Close Cloud Service User’s Guide, page 3-12.NEW QUESTION 19To which Financial Consolidation and Close dimension(s) do you map Data Management periods?
 Period and Year
 View
 Period, Year, and View
 Period
ExplanationWhen mapping Data Management periods to Financial Consolidation and Close dimensions, you need to map them to Period, Year, and View dimensions. Data Management is a feature that allows you to load data from external sources into Financial Consolidation and Close using integrations, locations, mappings, etc. When mapping Data Management periods, you need to specify the Period (such as Jan, Feb, Mar, etc.), the Year (such as FY20, FY21, FY22, etc.), and the View (such as Periodic or YTD) for each source period. This ensures that the data is loaded into the correct target period in Financial Consolidation and Close. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 40-41; [Oracle Financial Consolidation and Close Cloud Service Administrator’s Guide], page 8-5.NEW QUESTION 20When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?
 Plug Account
 Is Plug Account
 Intercompany Entity
 Intercompany Account
Explanationhttps://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATION-DEVELOPMENEW QUESTION 21Which statement correctly describes what happens to parent entities during consolidation?
 Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
 Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
 The changes in the relational database are synced to the underlying Essbase cube.
 For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
ExplanationThe statement that correctly describes what happens to parent entities during consolidation is: Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities. This means that the data from the child entities after applying ownership percentage and currency translation is summed up and stored in the parent entities before applying intercompany eliminations and adjustments. The other statements are incorrect descriptions of what happens to parent entities during consolidation. Parent entities are not tagged as Dynamic Calc; they are tagged as Store or Dynamic Calc and Store, depending on whether they have input data or not. The consolidation does affect the entity dimension, as it updates the calculation status and data values of each entity. The changes in the relational database are not synced to the underlying Essbase cube; they are stored in both places simultaneously. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; Oracle Financial Consolidation and Close Cloud Service User’s Guide, page 5-7.NEW QUESTION 22Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)
 Scenario
 Year
 Entity
 Period
 Account
ExplanationYear and Period are not selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager. Supplemental Data Manager is a feature that allows you to collect and review additional data that is not part of the standard consolidation process, such as tax schedules, disclosures, etc. A Collection Interval is a set of dimensions that defines the scope of data collection for a Form Group. The Workflow dimensions are the dimensions that determine the approval process for the data entered in the forms. The selectable Workflow dimensions are Scenario, Entity, and Account. Year and Period are not Workflow dimensions because they are fixed by the application settings and do not require approval. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 79-80; [Oracle Financial Consolidation and Close Cloud Service Administrator’s Guide], page 12-2.NEW QUESTION 23Which two statements about the Copy Data function are true? (Choose two.)
 When you select the Regular Data option, journals data is included.
 You can select which Consolidation dimension member to copy.
 You cannot select which Account members to copy.
 You can copy data for historical rate and amount overrides.
ExplanationThe two statements about the Copy Data function that are true are:You can select which Consolidation dimension member to copy. You can choose to copy data from any member of the Consolidation dimension, such as FCCS_Entity Input, FCCS_Proportion, or FCCS_Eliminations.You can copy data for historical rate and amount overrides. You can select to copy data from or to the FCCS Historical Rate Override or FCCS Historical Amount Override accounts.The other statements are false. When you select the Regular Data option, journals data is not included; you need to select the Journals option to copy journals data. You can select which Account members to copy; you can choose to copy all accounts or specific accounts.   : [Oracle Financial Consolidation and Close2023 Implementation Essentials Exam Study Guide], page 27; [Oracle Financial Consolidation and Close Cloud Service User’s Guide], page 4-16.NEW QUESTION 24In the approval process, which four dimensions constitute an approval unit? (Choose four.)
 Account
 Year
 Scenario
 Data Source (Entity)
 Period
ExplanationIn the approval process, the four dimensions that constitute an approval unit are:Year: This is the fiscal year for which the data is submitted.Scenario: This is the type of data that is submitted, such as Actual, Budget, or Forecast.Period: This is the time period within the fiscal year for which the data is submitted, such as Month, Quarter, or Year.Data Source (Entity): This is the combination of Data Source and Entity dimensions that identifies the source and destination of the data.The other options are not dimensions that constitute an approval unit. Account is not a dimension that is used in the approval process, as it represents all accounts in the application. Data Source (Entity) already includes Data Source as a sub-dimension, so it does not need to be specified separately. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 15; [Oracle Financial Consolidation and Close Cloud Service User’s Guide], page 2-13.NEW QUESTION 25Which statement is true about an approval process with the Phase Dependency option enabled?
 Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
 Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
 Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
 ‘Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
ExplanationThe statement that is true about an approval process with the Phase Dependency option enabled is: Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase. The Phase Dependency option is used to enforce sequential submission of data by different entities or groups of entities within an approval unit hierarchy. If this option is enabled, data for an earlier phase must be promoted to a higher level before data for a later phase can be promoted to the same level or higher. For example, if Phase 1 data is at level 2 and Phase 2 data is at level 1, Phase 2 data cannot be promoted to level 2 or higher until Phase 1 data is promoted to level 3 or higher. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service Administrator’s Guide], page 6-10.NEW QUESTION 26Which two statements are true about the Multi-GAAP feature? (Choose two.)
 When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.
 Select this option if you need to report your financial statements only in IFRS.
 You must specify a prefix for entities that use the alternate gap standard.
 Enabling Multi-GAAP reduces the number of custom dimensions you can have.
ExplanationThe two statements that are true about the Multi-GAAP feature are:When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments. Manual adjustments allow you to enter or load data for different GAAPs separately, while calculated adjustments allow you to define formulas or rules to derive data for different GAAPs from a primary GAAP.Enabling Multi-GAAP reduces the number of custom dimensions you can have. Multi-GAAP uses one custom dimension slot, so you will have one less custom dimension available for other purposes.The other statements are false about the Multi-GAAP feature. You do not need to select this option if you need to report your financial statements only in IFRS; you can use IFRS as your primary GAAP without enabling Multi-GAAP. You do not need to specify a prefix for entities that use the alternate GAAP standard; you can use any member name for your alternate GAAP entity.   : Oracle Financial Consolidation and Close2023 Implementation Essentials Exam Study Guide, page 37; Oracle Financial Consolidation and Close Cloud Service User’s Guide, page 3-10.NEW QUESTION 27Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member?
 A rate was entered into the FCCS Rate Override account.
 The parent entity has a different currency than the child.
 An ownership percentage for the entity other than 100 was entered.
 An intercompany elimination was performed.
ExplanationThe statement that explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member is: An ownership percentage for the entity other than 100 was entered. This means that the entity is not fully owned by its parent, and therefore its data is adjusted by the ownership percentage when it is consolidated. The FCCS_Entity Input member shows the data before consolidation, while the FCCS_Proportion member shows the data after applying the ownership percentage. The other options do not explain why the data might be different. A rate entered into the FCCS Rate Override account affects the currency translation, not the consolidation. The parent entity having a different currency than the child also affects the currency translation, not the consolidation. An intercompany elimination is performed after consolidation, not before, and it affects the FCCS_Eliminations member, not the FCCS_Proportion member. 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 5-9.NEW QUESTION 28Where do you set the Intercompany Entities Aggregation option?
 In the member properties of the Intercompany Top member
 On the Properties page of the Intercompany dimension
 In the Setup Wizard during business process creation
 In the member properties of the Intercompany Entities member
ExplanationThe place where you set the Intercompany Entities Aggregation option is in the member properties of the Intercompany Entities member. This is a system member in the Entity dimension that represents all entities that have intercompany data. You can set its aggregation option to either Dynamic Calc or Store, depending on whether you want to calculate or store its values. The other options are not places where you set the Intercompany Entities Aggregation option. In the member properties of the Intercompany Top member, you can set other options related to intercompany data, such as Intercompany Partner, Intercompany Elimination Entity, and Intercompany Elimination Method, but not Intercompany Entities Aggregation. On the Properties page of the Intercompany dimension, you can set options related to intercompany matching reports, such as Report Currency and Report Precision, but not Intercompany Entities Aggregation. In the Setup Wizard during business process creation, you can enable or disable intercompany data for your business process, but not set Intercompany Entities Aggregation. 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 5-11.NEW QUESTION 29You want to prevent users from saving data in a form if the value entered for Headcount is greater than 1000.What is the most efficient means to accomplish this?
 Create a Groovy rule.
 Create a Task Manager rule.
 Create a Configurable Consolidation rule.
 Create a valid intersection rule.
ExplanationTo prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator’s Guide], page 9-1.NEW QUESTION 30Which four items are included in the Currency dimension? (Choose four.)
 Parent Currency
 Input Currencies
 Default Currency
 Journal Input Currencies
 Entity Currency
 Reporting Currencies
ExplanationThe 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. Loading …






	
	

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