Most Recent Oracle 1Z0-1081-23 Exam Dumps

When mapping Data Management periods to Financial Consolidation and Close dimensions, you need to map them to Period, Year, and View dimensions. Data Management is a feature that allows you to load data from external sources into Financial Consolidation and Close using integrations, locations, mappings, etc. When mapping Data Management periods, you need to specify the Period (such as Jan, Feb, Mar, etc.), the Year (such as FY20, FY21, FY22, etc.), and the View (such as Periodic or YTD) for each source period. This ensures that the data is loaded into the correct target period in Financial Consolidation and Close.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 40-41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-5.

The three actions that are consistent with creating a form that allows users to input data are:

Set the consolidation member on the form to FCCS Entity Input. This is the member that represents the input data for each entity before consolidation.

Select level 0 dimension members for POV, rows, and columns. This ensures that the form displays the lowest level of detail for each dimension.

Grant the data input users Write access to the dimension members used on the form. This allows them to enter or modify data on the form.

The other options are not consistent with creating a form that allows users to input data. In the member selection for Entity, you can include shared entities if you want to allow data input for multiple instances of an entity. Setting the currency on the form to Parent Currency would display the data in the parent entity's currency, not the input currency.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 23; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-2.

The two statements that are true about the roll forward calculation in the Movement dimension are:

Translated values for Closing Balance are adjusted to the ending rate for the period. This means that the closing balance values are translated to the parent entity's currency using the exchange rate at the end of the period.

Values for Opening Balance are retrieved from the prior period's Closing Balance. This means that the opening balance values are derived from the closing balance values of the previous period.

The other statements are false about the roll forward calculation in the Movement dimension. Data for opening balances does not need to be loaded to the Opening Balance member prior to consolidation; it is automatically calculated from the prior period's closing balance. Values for base-level Movement members are not calculated as the difference between Closing Balance and Opening Balance; they are calculated as the difference between Closing Balance and Total Input And Adjusted.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 39;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 3-12.

The reason why years should be consolidated sequentially; i.e., first 2018, then 2019, then 2020, is to ensure that rollforward calculations are correct. Rollforward calculations are calculations that track the changes in balance sheet accounts from one period to another. For example, if an account has an opening balance of 100 in 2018 and a closing balance of 120 in 2018, the rollforward calculation will show a movement of 20 for 2018. If the same account has a closing balance of 150 in 2019, the rollforward calculation will show a movement of 30 for 2019. However, if the years are not consolidated sequentially, the rollforward calculations will not be accurate. For example, if 2019 is consolidated before 2018, the rollforward calculation will show a movement of -50 for 2018, which is incorrect. The other options are not reasons why years should be consolidated sequentially. Parent account calculations do not depend on the sequencing, each period in the year does not need to consolidate separately, and there is a reason to consolidate years sequentially.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-7.

The statement that is true of reporting currencies is: When you run the Consolidate business rule, you can select one or more reporting currencies to translate to. This allows you to perform currency translation for specific reporting currencies without affecting the other currencies. You can also select the All Reporting Currencies option to translate to all reporting currencies at once. The other statements are false of reporting currencies. During consolidation, rates for translating to reporting currencies are not calculated by triangulation through the rate for translating to the parent currency; they are calculated by using the direct rate between the input currency and the reporting currency. Not all input currencies that you add are automatically added as reporting currencies as well; you need to enable them as reporting currencies in the Currency dimension properties. Not all reporting currency members have the suffix Reporting; only the dynamic members that represent the reporting currencies for each entity have this suffix.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 21;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-17.