Oracle Financial Consolidation and Close 2025 Implementation Professional Practice Exam 2025: Latest Questions

You are configuring an FCCS application. The business wants to enter detailed operating expenses at the cost center level but only report consolidated totals at the entity level. Which design best supports this requirement while keeping the chart of accounts manageable?

After creating a new FCCS application, users cannot see any forms to enter data. Security has been granted correctly. What is the most likely missing configuration step?

A controller wants to ensure intercompany eliminations occur only for transactions between members marked as intercompany partners. Which configuration best supports this?

In Financial Close Management, a Close Manager asks for a task to be performed for every entity during close, and each entity’s task should be owned by that entity’s preparer. Which task type best fits this need?

A company needs to eliminate intercompany profit in ending inventory. The elimination should be calculated based on a percentage stored in a driver account and should post to specific elimination accounts. What is the recommended approach?

Users report that a consolidation completes successfully, but cash flow is not populated for several entities. Source balance sheet and income statement data exists. What is the most likely cause?

You must load trial balance data daily from an external ERP. The business wants an automated, auditable process with reusable mappings and the ability to drill from FCCS data back to the load details. Which approach is most appropriate?

A close schedule is blocked because a predecessor task is marked complete, but the successor still cannot start. You find the predecessor has multiple assignees and at least one has not acknowledged completion. What should you change to match the requirement: 'Any one of the assigned approvers can complete the task'?

A multinational company reports in USD but has entities with local currencies. They need to see translated results and also keep a clear audit trail of where translation adjustments are stored. Which design best meets this requirement?

Your consolidation includes partially owned subsidiaries. The business requires noncontrolling interest (NCI) to be calculated and presented in equity and profit/loss correctly, with ownership changes tracked over time. What must be implemented to satisfy this requirement in FCCS?

An administrator wants to prevent most users from changing substitution variables directly in the application, but still allow runtime changes during a close cycle by a small group. Which approach is recommended?

A close manager wants tasks to automatically become available only after their prerequisite tasks complete, and to prevent assignees from starting work early. Which configuration best supports this requirement in Task Manager?

You need to validate that data loads from an external source are complete and balanced by entity before running consolidation. Which feature is most appropriate to implement as a first-line automated check?

A company has multiple sub-holdings. Each sub-holding must run eliminations within its own subgroup, and then the parent must eliminate intercompany between sub-holdings at the total group level. How should the ownership and elimination structure be designed?

After a metadata update, a consolidation rule that previously worked now fails because it references a member that no longer exists. What is the best practice to reduce the likelihood of this type of failure in future updates?

A customer requires that local finance teams can input adjustments in local currency, but corporate reporting must be in a standard reporting currency with currency translation handled consistently across all entities. Which configuration best supports this requirement?

During close, several tasks are completed but the close manager cannot see supporting evidence attached by assignees, even though assignees confirm they uploaded files. What is the most likely cause and resolution?

A data load completes successfully, but the values appear under the wrong accounts and custom dimension members. No errors are reported. What is the most likely root cause?

A group has a partially owned subsidiary. They must calculate noncontrolling interest (NCI) and also eliminate intercompany sales between the parent and subsidiary. Which design best ensures both ownership calculations and eliminations are accurate and auditable?

A multinational organization wants a single close schedule template used globally, but each region must see only its own tasks and cannot view other regions’ attachments or comments. They also need global oversight reporting. Which design best meets these requirements?

A parent entity owns 80% of a subsidiary. The subsidiary’s local trial balance is loaded and translated. However, after consolidation, the Noncontrolling Interest (NCI) is missing from the consolidated financial statements. Which configuration is most likely missing to calculate and post NCI?

You need to enforce that users input only periodic values for Profit and Loss accounts, while Balance Sheet accounts must be entered as year-to-date (YTD). Which design approach is recommended in Financial Consolidation and Close?

A close manager reports that a scheduled Data Load rule in Data Integration runs successfully, but the Financial Close task that depends on it does not automatically start. The task status stays "Ready" even though the integration job completed. What is the most likely cause?

You are implementing an integration from an ERP where the source chart of accounts must map to FCCS accounts, and the mapping needs to change over time without editing the original import format. Which feature is the best practice to handle time-dependent mappings?

After running an elimination rule, the elimination entries appear in the correct elimination entity but do not show in the consolidated parent’s reported totals. Data is visible at the elimination entity level, but parent totals remain unchanged. What is the most likely explanation?