Exam: 1Z0-1081-23
|
|||||||||||||||||||||||||||
Earn associated certifications
Passing this exam is required to earn these certifications. Select each
certification title below to view full requirements.
Oracle Financial Consolidation and Close 2023 Certified Implementation
Professional
Format: Multiple Choice
Duration: 90 Minutes
Exam Price:
Number of Questions: 60
Passing Score: 66%
Validation: This exam has been validated against 22A/22B/22C/22D/23A/23B.
Policy: Cloud Recertification
Prepare to pass exam: 1Z0-1081-23
The Oracle Financial Consolidation and Close 2023 Certified Implementation
Professional has demonstrated the knowledge and skills in implementing
Enterprise Performance Management and Oracle Financial Consolidation and Close
solutions. Individuals holding this certification are able to set up and
configure security, create a financial consolidation and close business process,
create data sets and dimension attributes, set up a close process, design
reports using Financial Reporting Studio, and load data using Data Integration.
If you have a valid Oracle Financial Consolidation and Close Implementation
Professional Certification, and your credential has not expired, you can
maintain your certification by taking the corresponding shorter Delta exam.
Login to Oracle CertView to check if your certification credential has expired
or is still valid.
Check the Oracle Recertification Policy to see if you qualify.
Take recommended training
Complete one of the courses below to prepare for your exam (optional):
Become a Certified FCC Implementer
Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs
and/or field experience), in the learning subscription, provides the best
preparation for passing the exam.
Prepare for Oracle FCC 2023 Certified Implementation Professional
Review exam topics
Financial Consolidation and Close Overview
Describe Financial Consolidation and Close features
Set Up the Financial Consolidation and Close Business Process
Run the setup wizard for the FCC business process
Add users and assign security roles
Describe Period and Movement as Dense dimensions (DSO)
Manage Dimensions
Describe the Account, Entity, and Scenario dimensions
Add and edit members using the Simplified Dimension Editor
Import members from a file
Add members to the Currency and Movement dimensions
Assign security access to dimension members
Set Up and Run Consolidations
Explain the consolidation process (translate, eliminate. consolidate) and
closing balance calculation
Enter exchange rates and historical override rates and amounts
Configure the default translation method and default rate accounts
Explain the calculation statuses for entities
Run consolidation
Translate data to reporting currencies
Explain Intercompany Entity Aggregation Options
Configure Opening and Closing Balance System Rules
Set Up Advanced Consolidations
Customize the translation process using translation rules and custom rate
accounts
Create custom consolidation calculations with Configurable Calculations and On
Demand Rules
Configure statutory consolidations using Ownership Management and Consolidation
Methods
Create consolidation adjustments with Configurable Consolidation Rules
Describe Groovy Rules
Build Out Your Financial Consolidation and Close Solution
Describe valid and invalid intersection rules
Create data forms
Manage the close process using Task Manager
Manage data collection using Supplemental Data
Define custom navigation flows
Manage Journals
Create consolidation journals and consolidation journal templates
Create and Manage Enterprise Journals
Manage Approvals
Explain the approval process for entities
Set up the approval process
Explain approval groups and phased submissions
Define and edit approval groups
Assign approval groups to an approval unit hierarchy
Managing Business Process Data
Import and export; copy and clear data
Audit changes to the application and data
Back up and migrate data and metadata
Automate repetitive tasks using EPM Automate
Cloning FCC environments
Design Reports and Dashboards
Create journal, intercompany, and consolidation reports
Create and run financial reports
Create Dashboards
Loading Data Using Data Integration
Register and edit application details
Set up integration prerequisites
Create, edit, and run integrations
View integrations in Workbench
1Z0-1081-23 Brain Dumps Exam + Online / Offline and Android Testing Engine & 4500+ other exams included
$50 - $25 (you save $25)
Buy Now
QUESTION 1
For your business process, owners of approval units should be able to lock
and unlock data without going through an approval process.
Which action should you perform?
A. Select the Consolidation template when setting up the Approval Unit
hierarchy.
B. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
C. Select users with the Service Administrator security role.
D. Delete the default Approval Unit hierarchy.
Answer: B
Explanation:
The Consolidation Bottom Up template allows owners of approval units to lock and
unlock data
without going through an approval process. This template is suitable for
organizations that do not
require a formal approval process for data submission, but still want to control
data access and track
data status. The Consolidation template, on the other hand, requires owners of
approval units to
submit data for approval before they can lock it. The Service Administrator
security role does not
affect the approval process, and deleting the default Approval Unit hierarchy
would disable the
approval functionality altogether. Reference: Oracle Financial Consolidation and
Close 2023
Implementation Essentials Exam Study Guide, page 15; [Oracle Financial
Consolidation and Close
Cloud Service Users Guide], page 2-14.
QUESTION 2
How do you navigate if you want to export a form to a Snapshot file?
A. From the Home page, select Tools, and then Clone Snapshot.
B. Open the form, select Actions, and then Export.
C. From the Home page, select Tools, and then Migration.
D. From the Navigator menu, select Forms.
Answer: B
Explanation:
To 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.
Reference: Oracle
Financial Consolidation and Close 2023 Implementation Essentials Exam Study
Guide, page 23;
[Oracle Financial Consolidation and Close Cloud Service Users Guide], page 4-10.
QUESTION 3
Which statement is FALSE about running consolidations?
A. When you consolidate an entity for a period, prior periods with the Impacted
calculation status are also consolidated.
B. When you consolidate a parent, children with the Impacted calculation status
are also consolidated.
C. When you run consolidation for a child with the Impacted calculation status,
the parent entity is also re-consolidated.
D. Running consolidation using the Force Consolidate option consolidates
entities with any calculation status other than OK or NO DATA.
Answer: C
Explanation:
The statement that is false about running consolidations is: When you run
consolidation for a child
with the Impacted calculation status, the parent entity is also re-consolidated.
This is false because
running consolidation for a child entity only affects the child entity and its
descendants, not the
parent entity or its siblings. The parent entity will only be re-consolidated if
it has the Impacted
calculation status or if you use the Force Consolidate option. The other
statements are true about
running consolidations. Reference: Oracle Financial Consolidation and Close 2023
Implementation
Essentials Exam Study Guide, page 29; [Oracle Financial Consolidation and Close
Cloud Service Users Guide], page 5-7.
QUESTION 4
Which two conditions are required for foreign currency translation to take place
during the default consolidation process? (Choose two.)
A. The child entity is NOT a shared entity.
B. The default currency of the child is different from the default currency of
the parent.
C. Reporting currencies have been defined in the Currency dimension.
D. To specify exchange rates you must set up multiple currencies when creating
an application.
Answer: B, C
Explanation:
The two conditions that are required for foreign currency translation to take
place during the default consolidation process are:
The default currency of the child is different from the default currency of the
parent.
Reporting currencies have been defined in the Currency dimension.
These conditions ensure that there is a need and a way to translate the child
entitys data into
another currency. If the child entity has the same default currency as the
parent, there is no need for
translation. If reporting currencies have not been defined in the Currency
dimension, there is no way
to specify exchange rates or translation methods. The other options are not
required for foreign
currency translation. The child entity can be a shared entity, as long as it has
a different default
currency than its parent. To specify exchange rates, you do not need to set up
multiple currencies
when creating an application; you can do it later in Data Management. Reference:
Oracle Financial
Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page
31; [Oracle
Financial Consolidation and Close Cloud Service Users Guide], page 5-16.
QUESTION 5
You need a report that displays all adjustments to account balances of child
entities for a parent,
including journal adjustments, intercompany eliminations, and adjustments from
consolidation rules.
Which type of report can you run to accomplish this?
A. Journal
B. Financial
C. Intercompany
D. Consolidation
Answer: D
Explanation:
The type of report that you can run to display all adjustments to account
balances of child entities for
a parent, including journal adjustments, intercompany eliminations, and
adjustments from
consolidation rules, is a Consolidation report. This report shows the details of
how consolidated data
is calculated for each account in each entity. You can view the source data,
adjustments,
eliminations, ownership percentage, currency translation, rounding differences,
and consolidated
data for each account. The other types of reports do not show all adjustments. A
Journal report
shows only journal adjustments, a Financial report shows only consolidated data
without details, and
an Intercompany report shows only intercompany eliminations. Reference: Oracle
Financial
Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page
35; [Oracle
Financial Consolidation and Close Cloud Service Users Guide], page 7-8.
QUESTION 6
You 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?
A. Create a Groovy rule.
B. Create a Task Manager rule.
C. Create a Configurable Consolidation rule.
D. Create a valid intersection rule.
Answer: A
Buy Complete
Certainly, here's a rewritten version of your text:
Packiam Vijendran 1 months ago - Malaysia
Passed the exam yesterday, 95% of the question were from this site. Note: Pay
more attention to all the community discussions on each question, instead of the
answers provided by the examtopics and I strongly suggest to get the contributor
access.
upvoted 4 times
Javier Cardaba Enjuto 2 months, 1 week ago - Spain
Excellent pre-exam session tool
upvoted 2 times
Palanisamy Arulmohan 1 months, 1 week ago - USA
I passed today, 94 questions asked and 99% of them were in this dump.
3 labs: BGP (as-override), HSRP, OSPF (without network statement)
upvoted 4 times
peppinauz 3 months, 2 weeks ago
I pass my exam, dump is valid about 90-95%. review the community answers!!
upvoted 6 times
Oberoi Ankit3 months, 3 weeks ago - USA Texas
Passed exam today dump still accurate. almost all the questions are here, some
are overcomplicated or incomplete on the site,
upvoted 4 times
logged members Can Post comments / review and take part in Discussion
Certkingdom Offline Testing Engine Simulator Download
Prepare with yourself how CertKingdom Offline Exam Simulator it is designed specifically for any exam preparation. It allows you to create, edit, and take practice tests in an environment very similar to an actual exam.
Supported Platforms: Windows-7 64bit or later - EULA | How to Install?
FAQ's: Windows-8 / Windows 10 if you face any issue kinldy uninstall and reinstall the Simulator again.
Download Offline Simulator-Beta
Certkingdom Testing Engine Features
- Certkingdom Testing Engine simulates the real exam environment.
- Interactive Testing Engine Included
- Live Web App Testing Engine
- Offline Downloadable Desktop App Testing Engine
- Testing Engine App for Android
- Testing Engine App for iPhone
- Testing Engine App for iPad
- Working with the Certkingdom Testing Engine is just like taking the real tests, except we also give you the correct answers.
- More importantly, we also give you detailed explanations to ensure you fully understand how and why the answers are correct.
Certkingdom Android Testing Engine Simulator Download
Take your learning mobile android device with all the features as desktop offline testing engine. All android devices are supported.
Supported Platforms: All Android OS EULA
Install the Android Testing Engine from google play store and download the app.ck from certkingdom website android testing engine download
Certkingdom Android Testing Engine Features
- CertKingdom Offline Android Testing Engine
- Make sure to enable Root check in Playstore
- Live Realistic practice tests
- Live Virtual test environment
- Live Practice test environment
- Mark unanswered Q&A
- Free Updates
- Save your tests results
- Re-examine the unanswered Q & A
- Make your own test scenario (settings)
- Just like the real tests: multiple choice questions
- Updated regularly, always current
