Exam Code: 1Z0-1081-24
Exam Name: Oracle Financial Consolidation and Close 2024 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud
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Oracle 1Z0-1081-24 Exam Syllabus Topics:

SectionObjectives
Rules and Automation- Business rules and calculation logic
  • 1. Automated consolidation scripts
    • 2. Rule development and validation
      Close Process Management- Period close activities
      • 1. Validation and review procedures
        • 2. Close process automation
          Application Configuration- FCCS application setup and configuration
          • 1. Creating and configuring applications
            • 2. Setting up dimensions (Account, Entity, Scenario, Time, View)
              Reporting and Analysis- Financial reporting
              • 1. Financial reports and dashboards
                • 2. Smart View reporting integration
                  Data Integration- Data loading and management
                  • 1. Importing and validating data
                    • 2. Data Management / Data Integration workflows
                      Consolidation Process- Financial consolidation activities
                      • 1. Elimination rules and processing
                        • 2. Ownership and consolidation methods
                          • 3. Currency translation
                            Security and Access- User and role management
                            • 1. Access permissions and data restrictions
                              • 2. Security configuration
                                Journals and Adjustments- Journal management
                                • 1. Adjustment entries and validations
                                  • 2. Creating and posting journals
                                    Intercompany Processing- Intercompany transactions
                                    • 1. Reconciliation processes
                                      • 2. Matching and elimination

                                        Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

                                        Which two members of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)

                                        • A. FCCS_No Data Source
                                        • B. FCCS_Journal Input
                                        • C. FCCS_Intercompany Eliminations
                                        • D. FCCS_PCON
                                        Reveal Solution  Discussion  0

                                        Correct Answer: B,C  🗳️

                                        Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

                                        Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)

                                        • A. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in the FCCS_CashFlow hierarchy.
                                        • B. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy.
                                        • C. The seeded member FCCS_Mvmts_AccountsPayable found within the FCCS_CashFlow hierarchy has a Subtraction operator.
                                        • D. The Cash Change hierarchy cannot be modified.
                                        • E. Siblings can be added to the FCCS_CashFlow_Investing member.
                                        • F. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.
                                        Reveal Solution  Discussion  0

                                        Correct Answer: B,C,E,F  🗳️

                                        What is true about Opening Balance Override rules in Oracle Financial Consolidation and Close?

                                        • A. You can select which accounts to include in the rule scope.
                                        • B. Opening Balance Override rules execute for the first period in the year only.
                                        • C. They are available only if Intercompany Data with Tracking is enabled for the business process.
                                        • D. You can select which entities to include in the rule scope.
                                        Reveal Solution  Discussion  0

                                        Correct Answer: B  🗳️

                                        Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

                                        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 members for Additions and Disposals as dependents of FCCS_Mvmts_CapitalExpenditures.
                                        • B. Load detailed Fixed Asset data to Movement members.
                                        • C. Build a custom Movement member for Fixed Assets with dependent custom members for Additions and Disposals
                                        • D. Create a Roll Forward in the account dimension.
                                        • E. Add custom Movement members to the FCCS_CashFlow hierarchy.
                                        Reveal Solution  Discussion  0

                                        Correct Answer: A,B,C  🗳️

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

                                        • A. Override Rates
                                        • B. Exchange Rate Multi-period
                                        • C. Headcount
                                        • D. Data Status
                                        • E. Shares Outstanding
                                        Reveal Solution  Discussion  0

                                        Correct Answer: A,B,D  🗳️

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