ORACLE FCCS CERTIFICATION
EXAM
An entity's Common Stock balance is made up of data loaded through
Data Management and an adjusting journal entry posted in the
application. The Common Stock balance must not re-translate each
month. What two data entries need to happen to have the Common
Stock balance bypass the default translation of equity accounts?
(Choose two.)
A. Data entry to the Common Stock account with the FCCS_Amount
Override member of the Consolidation dimension and the Data
Source member FCCS_Managed Data.
B. A journal entry to reverse the adjusted Common Stock balance
with the Data Source member FCCS_Journal Input.
C. A journal entry to the Common Stock account with the
FCCS_Amount Override member of the Consolidation dimension and
the Data Source member FCCS_Journal Input.
D. Data entry to the Common Stock account with the Multi-GAAP
FCCS_Adjustments member and the Data Source member
FCCS_Data Input - ANSWERS-B. A journal entry to reverse the
adjusted Common Stock balance with the Data Source member
FCCS_Journal Input.
,D. Data entry to the Common Stock account with the Multi-GAAP
FCCS_Adjustments member and the Data Source member
FCCS_Data Input
PQR Company has the ownership structure shown above. If H_1
lends money to P_2, the intercompany elimination of H_1's receivable
occurs as data from Hickory consolidates into PQR. What is this
principle called?
A. First common parent
B. Generation 0
C. First order relation
D. Lowest common denominator - ANSWERS-A. First common
parent
What will Financial Consolidation and Close (FCCS) do when adding
a new member that is an expense type account under a parent that is
set as an income type account?
A. This setting will not affect additions or subtractions to the next
parent
B. Subtract amounts consolidated to the parent
C. Add amounts consolidated to the parent
,D. You can't load data to this account - ANSWERS-B. Subtract
amounts consolidated to the parent
Which financial close related component is NOT a part of the
Financial Consolidation and Close Cloud integrated product suite?
A. Process Management
B. Account Reconciliation Management
C. Data Management
D. Supplemental Data Management
E. Financial Close Management - ANSWERS-B. Account
Reconciliation Management
Company 123 is a public company that reports in US Dollars.
Company 123 owns Company XYZ, a European company that
consolidates 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 to the USD_Reporting currency member for
Company IOU
, B. A translation of Company IOU
C. A consolidation of Company 123
D. A consolidation of Company XYZ
E. A translation of Company XYZ to Parent Currency - ANSWERS-
E. A translation of Company XYZ to Parent Currency
Which statement is correct regarding intercompany eliminations?
A. Intercompany eliminations are generally required to remove the
effect of transactions within the company
B. Intercompany eliminations are required for sustainability reporting
to show the company's waste output.
C. Intercompany eliminations are optional in FCCS and use one of the
custom dimensions when enabled.
D. Intercompany eliminations are needed when a company divests
itself of a division - ANSWERS-A. Intercompany eliminations are
generally required to remove the effect of transactions within the
company
EXAM
An entity's Common Stock balance is made up of data loaded through
Data Management and an adjusting journal entry posted in the
application. The Common Stock balance must not re-translate each
month. What two data entries need to happen to have the Common
Stock balance bypass the default translation of equity accounts?
(Choose two.)
A. Data entry to the Common Stock account with the FCCS_Amount
Override member of the Consolidation dimension and the Data
Source member FCCS_Managed Data.
B. A journal entry to reverse the adjusted Common Stock balance
with the Data Source member FCCS_Journal Input.
C. A journal entry to the Common Stock account with the
FCCS_Amount Override member of the Consolidation dimension and
the Data Source member FCCS_Journal Input.
D. Data entry to the Common Stock account with the Multi-GAAP
FCCS_Adjustments member and the Data Source member
FCCS_Data Input - ANSWERS-B. A journal entry to reverse the
adjusted Common Stock balance with the Data Source member
FCCS_Journal Input.
,D. Data entry to the Common Stock account with the Multi-GAAP
FCCS_Adjustments member and the Data Source member
FCCS_Data Input
PQR Company has the ownership structure shown above. If H_1
lends money to P_2, the intercompany elimination of H_1's receivable
occurs as data from Hickory consolidates into PQR. What is this
principle called?
A. First common parent
B. Generation 0
C. First order relation
D. Lowest common denominator - ANSWERS-A. First common
parent
What will Financial Consolidation and Close (FCCS) do when adding
a new member that is an expense type account under a parent that is
set as an income type account?
A. This setting will not affect additions or subtractions to the next
parent
B. Subtract amounts consolidated to the parent
C. Add amounts consolidated to the parent
,D. You can't load data to this account - ANSWERS-B. Subtract
amounts consolidated to the parent
Which financial close related component is NOT a part of the
Financial Consolidation and Close Cloud integrated product suite?
A. Process Management
B. Account Reconciliation Management
C. Data Management
D. Supplemental Data Management
E. Financial Close Management - ANSWERS-B. Account
Reconciliation Management
Company 123 is a public company that reports in US Dollars.
Company 123 owns Company XYZ, a European company that
consolidates 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 to the USD_Reporting currency member for
Company IOU
, B. A translation of Company IOU
C. A consolidation of Company 123
D. A consolidation of Company XYZ
E. A translation of Company XYZ to Parent Currency - ANSWERS-
E. A translation of Company XYZ to Parent Currency
Which statement is correct regarding intercompany eliminations?
A. Intercompany eliminations are generally required to remove the
effect of transactions within the company
B. Intercompany eliminations are required for sustainability reporting
to show the company's waste output.
C. Intercompany eliminations are optional in FCCS and use one of the
custom dimensions when enabled.
D. Intercompany eliminations are needed when a company divests
itself of a division - ANSWERS-A. Intercompany eliminations are
generally required to remove the effect of transactions within the
company
