Ultimate Guide to Prepare 1Z0-1081-20 Certification Exam for Oracle Financial Consolidation and Close Cloud Service in 2022

Use Real 1Z0-1081-20 Dumps - Oracle Correct Answers updated on 2022

Oracle 1Z0-1081-20 Exam Syllabus Topics:

Topic	Details
Topic 1	Create equity pickup adjustments using the Equity Pickup feature Describe the restrictions for modifying seeded members
Topic 2	Create consolidation adjustments with Configurable Consolidation rules Describe Financial Consolidation and Close features
Topic 3	Back up and migrate data and metadata using Lifecycle Management Describe the system dimensions
Topic 4	Build Out Your Financial Consolidation and Close Solution Enter exchange rates and historical override rates and amounts
Topic 5	Manage data collection using Supplemental Data Create journals and journal templates Create alternate hierarchies
Topic 6	Create import formats, locations, period mappings, and category mappings Add members to the Movement dimension and cash flow hierarchy
Topic 7	Configure statutory consolidations using Ownership Management and Consolidation Methods Import members from a file
Topic 8	Create member mappings and define data load rules Manage the close process using Task Manager Translate data to reporting currencies
Topic 9	Audit changes to the application and data Explain the Closing Balance calculation in the Movement dimension Design financial reports in Financial Reporting Studio
Topic 10	Customize the translation process using translation rules and custom rate accounts Add currencies to the Currency dimension
Topic 11	Run the setup wizard for the FCC business process Describe the member properties for the Account, Entity, and Scenario dimensions
Topic 12	Automate repetitive tasks using EPM Automate Set Up and Run Consolidations Identify deployment use cases
Topic 13	Configure system setting profiles, set up source systems, register target applications Assign security access to dimension members
Topic 14	Configure the default translation method and default rate accounts Add and edit members using the Simplified Dimension Editor
Topic 15	Set Up the Financial Consolidation and Close Business Process Explain the calculation statuses for entities

 

NEW QUESTION 34
Financial Consolidation and Close maintains calculation status for which four dimensions?

• A. Period
• B. Year
• C. Entity
• D. Scenario
• E. Data Source
• F. Consolidation

Answer: A,C,D,F

Explanation:
Explanation
Explanation/Reference:
Oracle Financial Consolidation Close Cloud maintains the calculation status for each Scenario, Period, Entity and Parent entity combination. The calculation status indicates whether data needs to be translated or consolidated.

 

NEW QUESTION 35
Company 123 is a public company that reports in US Dollars. Company 123 owns Company XYZ, a European company thatconsolidates in Euro. One of the 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?

• A. A translation of Company XYZ to Parent Currency
• B. A consolidation of Company XYZ
• C. A translation of Company IOU
• D. A consolidation of Company 123
• E. A translation to the USD_Reporting currency member for Company IOU

Answer: A

 

NEW QUESTION 36
When designing a report in Financial Reporting Studio, which item is NOT aninsert-able report object?

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

Answer: B

 

NEW QUESTION 37
To show theIntercompany account and matching account balances on the Intercompany Matching Report, you make which selection?

• A. Intercompany Plug Accounts
• B. Intercompany Accounts
• C. Intercompany Partners
• D. Elimination Consolidation Dimension member

Answer: C

 

NEW QUESTION 38
When you set the Intercompany Account Attribute Value to Yes, which additional attribute must also be set?

• A. Intercompany Entity
• B. Plug Account
• C. Intercompany Account
• D. Is Plug Account

Answer: D

 

NEW QUESTION 39
In the Movement dimension, for which two can you modify the default translation calculation?

• A. Opening Balance Input
• B. Opening Balance
• C. Closing Balance
• D. Base-level members under FCCS_Mvmts Subtotal

Answer: B,D

Explanation:
Reference:
http://www.allreadable.com/3128VWfe

 

NEW QUESTION 40
You have added a new task to a close schedule with a task due date past the defined end date of the schedule. What is the result of the change?

• A. The task will not run.
• B. The schedule end date changes to match the end date of the task.
• C. An error, you can't add a new task past the due date.
• D. The new task will run outside of the schedule end date.

Answer: B

Explanation:
When you add a new task to a schedule, it automatically is scheduled to start on the project's start date. As tasks are added to the schedule and connected to other tasks, the start times of tasks will change, and the last task to finish determines the project's finish date.

 

NEW QUESTION 41
What will Financial Consolidation and Close (FCCS) do whenadding a new member that is an expense type account under a parent that is set as an income type account?

• A. subtract amounts consolidated to the parent
• B. you can't load data to this account
• C. this setting will not affect additions or subtractions to the next parent
• D. add amounts consolidated to the parent

Answer: A

 

NEW QUESTION 42
Which two statements are true about Cash Flow in the Movement dimension?

• A. The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow hierarcy.
• B. When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member to the FCCS_CashFlow hierarchy.
• C. You can add shared members to the FCCS_CashChange hierarchy.
• D. The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the FCCS_CashFlow hierarchy.

Answer: A,B

 

NEW QUESTION 43
Inwhich two instances will the FCCS_Mvmts_FX_to_CTA movement member populate in a translated currency?

• A. The current FCCS_CTA account balance does not change from the prior period
• B. The account is FCCS_Net Income
• C. Movement of FX impact for historical rate accounts to the FCCS_CTA account
• D. A variance in the Average rate and the Ending rate

Answer: A

 

NEW QUESTION 44
If the Alias of an Entity that marked as "Is Intercompany" and is later changed, what happens to the corresponding Intercompany member Alias?

• A. The Intercompany Alias is automatically set to the Intercompany Name.
• B. The Intercompany Alias is automatically changed to the new Entity Alias.
• C. The Intercompany Alias is set to the Entity Name.
• D. The Intercompany Alias is not automatically changed to the new Entity Alias.

Answer: B

 

NEW QUESTION 45
Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different than the data in the FCCS_Proportion member?

• A. The parent entity has a different currency than the child.
• B. A rate was entered into the FCCS_Rate Override account.
• C. An intercompany elimination was performed.
• D. An ownership percentage for the entity other than 100 was entered.

Answer: C

 

NEW QUESTION 46
Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

• A. Scenario, View, Parent Entity and Account
• B. Period, Scenario, Base Entity and Parent Entity
• C. Year, Scenario, Base Entity and Account
• D. Scenario, Account, Base Entity and Parent Entity

Answer: B

 

NEW QUESTION 47
A company would like to capture Fixed Asset additions and disposals within the Movement dimension.
Which three tasks are necessary to achieve this goal? (Choose three.)

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

Answer: B,D,E

 

NEW QUESTION 48
Which is NOT a member of the Data Source Dimension created by Financial Consolidation and Close (FCCS)?

• A. FCCS_Data Input
• B. FCCS_SystemTypes
• C. FCCS_Proportion
• D. FCCS_No Data Source

Answer: C

 

NEW QUESTION 49
What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?

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

Answer: D

Explanation:
FCCS currently allows Journal Input (Data Source dimension member) to Entity Input (Consolidation dimension member) in Entity Currency for parent entities. HFM allows Entity Currency Adjustments and Parent Currency Adjustments (Value dimension members) at parent entities.

 

NEW QUESTION 50
Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled?

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

Answer: A,B,D

Explanation:
Explanation/Reference:
The Consolidation Method and Control setting can be manually changed if needed.

 

NEW QUESTION 51
Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution? (Choose three.)

• A. Provide a strong compliance framework that includes auditing and segregation of duties.
• B. Provide predictive analysis and modeling.
• C. Integrate with source systems.
• D. Ensure security of sensitive data.

Answer: A,C,D

 

NEW QUESTION 52
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