Oracle Financial Consolidation and Close 2020 Implementation Essentials (1Z0-1081-20) Practice Exam

Oracle Financial Consolidation and Close 2020 Implementation Essentials (1Z0-1081-20) 

About Oracle Financial Consolidation and Close 2020 Implementation Essentials (1Z0-1081-20) 

The Oracle Financial Consolidation and Close 2020 Certified Implementation Specialist 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, and design reports using Financial Reporting Studio.

Exam Details

• Exam Title: Oracle Financial Consolidation and Close 2020 Implementation Essentials
• Exam Number: 1Z0-1081-20
• Exam Price: $245 USD
• Format: Multiple Choice
• Duration: 85 Minutes
• Number of Questions: 60
• Passing score: 66%
• Validated Against: Exam has been validated against Financial Consolidation and Close 20.03

Course Outline 

The Oracle Financial Consolidation and Close 2020 (1Z0-1081-20) Exam covers the following topics -

1. Financial Consolidation and Close Overview

Identify deployment use cases

Describe Financial Consolidation and Close features

2. Manage Dimensions

Describe the system dimensions

Describe the restrictions for modifying seeded members

Describe the member properties for the Account, Entity, and Scenario dimensions

Add and edit members using the Simplified Dimension Editor

Import members from a file

Create alternate hierarchies

Add currencies to the Currency dimension

Add members to the Movement dimension and cash flow hierarchy

Assign security access to dimension members

3. Set Up and Run Consolidations

Explain the consolidation process (translate, eliminate. consolidate)

Explain the Closing Balance calculation in the Movement dimension

Enter exchange rates and historical override rates and anounts

Configure the default translation method and default rate accounts

Explain the calculation statuses for entities

View calculation status

Run consolidation

Translate data to reporting currencies

4. Build Out Your Financial Consolidation and Close Solution

Describe valid intersection rules

Create data forms

Create journals and journal templates

Explain the approval process for entities

Set up the approval process

Manage the close process using Task Manager

Manage data collection using Supplemental Data

Define custom navigation flows

Automate repetitive tasks using EPM Automate

5. Design Reports

Create journal reports

Create intercompany reports

Create consolidation reports

Design financial reports in Financial Reporting Studio

6. Set Up the Financial Consolidation and Close Business Process

Describe the FCC setup options

Describe Extended Dimensionality

Run the setup wizard for the FCC business process

Describe the FCC security roles

Add users and assign security roles

7. Integrate Data from Source Systems Using Data Management

Describe the use cases for Data Management

Configure system setting profiles, set up source systems, register target applications

Create import formats, locations, period mappings, and category mappings

Create member mappings and define data load rules

Run data loads

8. 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

Create equity pickup adjustments using the Equity Pickup feature

9. Managing Business Process Data

Import and export data

Copy and clear data

Audit changes to the application and data

Back up and migrate data and metadata using Lifecycle Management

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