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| Section | Objectives |
|---|---|
| Topic 1: Rules and Automation | - Business rules and calculation logic
|
| Topic 2: Journals and Adjustments | - Journal management
|
| Topic 3: Intercompany Processing | - Intercompany transactions
|
| Topic 4: Reporting and Analysis | - Financial reporting
|
| Topic 5: Application Configuration | - FCCS application setup and configuration
|
| Topic 6: Data Integration | - Data loading and management
|
| Topic 7: Security and Access | - User and role management
|
| Topic 8: Close Process Management | - Period close activities
|
| Topic 9: Consolidation Process | - Financial consolidation activities
|
Question 1
When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?
A. Plug Account
B. Intercompany Entity
C. Intercompany Account
D. Is Plug Account
Question 2
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. February should be consolidated, after which the cash at AceCo is now 65.
B. There is no way to do a prior period entry like this.
C. January should be consolidated for the change and nothing needs to happen for February.
D. January and February should be consolidated.
Question 3
On what days during the month does Oracle apply patch updates to fix bugs, apply code optimizations, and add new features?
A. the first and third Friday of each month; first Friday for TEST and third Friday for PROD
B. the first and third Monday of each month; first Monday for TEST and third Monday for PROD
C. the second and fourth Friday of each month; second Friday for TEST and fourth Friday for PROD
D. the third Friday of each month to apply to both TEST and PROD simultaneously
Question 4
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
A. Parent account calculations depend on the sequencing.
B. Each period in the year must consolidate separately.
C. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
D. There is no reason to consolidate years sequentially.
Question 5
A new Sheet tab in Excel is copied from an existing tab that contains a Smart View query, but clicking Refresh does not refresh the data and the Smart View (Point of View) POV bar does not display.
Which additional step is required to pull data in the new tab and change the POV?
A. Close out of Excel, and relog in to Smart View.
B. Change one of the Row or Column dimension members and click Refresh.
C. Activate the Connection.
D. Disconnect from the Smart View connection, and relog in.
Solutions:
| Question 1 Answer: A | Question 2 Answer: D | Question 3 Answer: A | Question 4 Answer: C | Question 5 Answer: B |
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