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Oracle 1Z0-1081-24 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. What is the result of enabling the Calculate Movements system rule?

A) Level 0 movement members become read only in web forms, and must be populated through data load.
B) To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
C) Closing Balance is aggregated from Opening Balance and the current period's movement value.
D) The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.

2. Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a configurable and scalable consolidation solution?

A) calculations, dashboards and reports to provide analysis for cash flow modeling
B) pre-built integrations to combine narrative and data to produce both internal and external reporting packages
C) calculations, dashboards and reports as well as detailed data source tracking and an automated cash flow
D) calculations, dashboards and reports built on planning frameworks to provide cash flow planning

3. Which two statements are true about the Multi-GAAP feature? (Choose two.)

A) You must specify a prefix for entities that use the alternate gap standard.
B) Select this option if you need to report your financial statements only in IFRS.
C) When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.
D) Enabling Multi-GAAP reduces the number of custom dimensions you can have.

4. Which statement correctly describes what happens to parent entities during consolidation?

A) For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
B) Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
C) The changes in the relational database are synced to the underlying Essbase cube.
D) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.

5. What are
two important first steps in initially setting up Task Manager?

A) Define system settings such as Organization units, Holiday rules and Task attachment size.
B) Create a schedule and set it to Open status.
C) Set up Users.
D) Assign tasks to users.

Solutions: