FCCS EXAM QUESTIONS AND ANSWERS LATEST TOP SCORE.
In 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 definiti...
In 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 - correct 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 - correct 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 - correct 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. - correct 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. - correct 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. -
correct 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 - correct 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. - correct 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
E. provide the ability to collaborate during close and analyse transaction - correct
answer. A. robust consolidation engine that provides automated aggregations,
intercompany eliminations
and translations without requiring a strong IT footprint
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
Which two prebuilt calculations run on the Movement dimension to determine CTA by
account?
A)Prior Average Rate minus Current Average Rate multiplied by
FCCS_Mvmts_Subtotal
B)Prior Ending Rate minus Current Ending Rate divided by FCCS_Mvmts_Subtotal
C)FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance
carry forward
D)FCCS_Mvmts_Subtotal multiplied by Ending Rate minus FCCS_Mvmts_Subtotal
multiplied byAverage Rate - correct answer. C) FCCS_OpeningBalance multiplied
by Ending Rate minus FCCS_OpeningBalance carry forward
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller techgrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
