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Oracle Financial Consolidation and Close 2024 Implementation Professional : 1Z0-1081-24 Exam

1Z0-1081-24 Exam Questions
  • Exam Code: 1Z0-1081-24
  • Exam Name: Oracle Financial Consolidation and Close 2024 Implementation Professional
  • Updated: Aug 05, 2026
  • Q & A: 173 Questions and Answers
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Oracle 1Z0-1081-24 Exam Syllabus Topics:

SectionObjectives
Topic 1: Rules and Automation- Business rules and calculation logic
  • 1. Automated consolidation scripts
    • 2. Rule development and validation
      Topic 2: Close Process Management- Period close activities
      • 1. Validation and review procedures
        • 2. Close process automation
          Topic 3: Application Configuration- FCCS application setup and configuration
          • 1. Setting up dimensions (Account, Entity, Scenario, Time, View)
            • 2. Creating and configuring applications
              Topic 4: Reporting and Analysis- Financial reporting
              • 1. Smart View reporting integration
                • 2. Financial reports and dashboards
                  Topic 5: Consolidation Process- Financial consolidation activities
                  • 1. Elimination rules and processing
                    • 2. Currency translation
                      • 3. Ownership and consolidation methods
                        Topic 6: Journals and Adjustments- Journal management
                        • 1. Creating and posting journals
                          • 2. Adjustment entries and validations
                            Topic 7: Security and Access- User and role management
                            • 1. Access permissions and data restrictions
                              • 2. Security configuration
                                Topic 8: Data Integration- Data loading and management
                                • 1. Data Management / Data Integration workflows
                                  • 2. Importing and validating data
                                    Topic 9: Intercompany Processing- Intercompany transactions
                                    • 1. Reconciliation processes
                                      • 2. Matching and elimination

                                        Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

                                        1. Which four sample ratios can be created during the application creation process? (Choose four.)

                                        A) Debt Ratio
                                        B) Inventory Ratios
                                        C) Contribution Margin
                                        D) Days Sales in Receivables
                                        E) Earnings per Share
                                        F) Gross Margin


                                        2. Which statement correctly describes the Consolidation dimension?

                                        A) The dimension contains members to store non-controlling interest and joint venture data.
                                        B) The dimension uses a separate member to store data from an entity's descendants.
                                        C) The dimension allows users to see input versus journal adjustment data.
                                        D) The dimension aggregates input, consolidated, and elimination data together.


                                        3. 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) Intercompany Entity
                                        B) Plug Account
                                        C) Is Plug Account
                                        D) Intercompany Account


                                        4. Which three scenarios result in foreign currency translation during the default consolidation process? (Choose three.)

                                        A) A base entity currency has a parent entity with a matching default currency.
                                        B) A parent entity has a different currency from its parent.
                                        C) A base entity currency has a parent entity with a different default currency.
                                        D) A shared entity has a parent with a different currency.
                                        E) A parent entity has the same default currency as its parent.


                                        5. Which statement is FALSE about when Intercompany Data is enabled?

                                        A) In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
                                        B) The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
                                        C) Intercompany accounts are assigned plug accounts.
                                        D) Tracking intercompany eliminations is optional.


                                        Solutions:

                                        Question # 1
                                        Answer: A,B,D,F
                                        Question # 2
                                        Answer: C
                                        Question # 3
                                        Answer: B
                                        Question # 4
                                        Answer: B,C,D
                                        Question # 5
                                        Answer: A

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