Most Recent Oracle 1Z0-1081-23 Exam Questions & Answers

The two statements that are true about the Multi-GAAP feature are:

When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments. Manual adjustments allow you to enter or load data for different GAAPs separately, while calculated adjustments allow you to define formulas or rules to derive data for different GAAPs from a primary GAAP.

Enabling Multi-GAAP reduces the number of custom dimensions you can have. Multi-GAAP uses one custom dimension slot, so you will have one less custom dimension available for other purposes.

The other statements are false about the Multi-GAAP feature. You do not need to select this option if you need to report your financial statements only in IFRS; you can use IFRS as your primary GAAP without enabling Multi-GAAP. You do not need to specify a prefix for entities that use the alternate GAAP standard; you can use any member name for your alternate GAAP entity.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 37;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 3-10.

The default member for the Currency dimension in a Data Integration integration can be set in the Location Attributes in the Create Integration dialog box. This attribute specifies the currency that will be used for loading data if no currency mapping is defined. The other options do not allow setting the default member for the Currency dimension. The Map Members tab in the Create Integration dialog box is used to map members from source to target dimensions. The Options tab of the Application Details dialog box is used to set general options for Data Integration, such as logging level, parallel threads, etc. The Run Integration dialog box is used to execute an integration and monitor its status.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-4.

To prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.

In the approval process, the four dimensions that constitute an approval unit are:

Year: This is the fiscal year for which the data is submitted.

Scenario: This is the type of data that is submitted, such as Actual, Budget, or Forecast.

Period: This is the time period within the fiscal year for which the data is submitted, such as Month, Quarter, or Year.

Data Source (Entity): This is the combination of Data Source and Entity dimensions that identifies the source and destination of the data.

The other options are not dimensions that constitute an approval unit. Account is not a dimension that is used in the approval process, as it represents all accounts in the application. Data Source (Entity) already includes Data Source as a sub-dimension, so it does not need to be specified separately.Reference: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 15; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-13.

The type of report that you can run to display all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules, is a Consolidation report. This report shows the details of how consolidated data is calculated for each account in each entity. You can view the source data, adjustments, eliminations, ownership percentage, currency translation, rounding differences, and consolidated data for each account. The other types of reports do not show all adjustments. A Journal report shows only journal adjustments, a Financial report shows only consolidated data without details, and an Intercompany report shows only intercompany eliminations.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 35; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 7-8.