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Oracle Financial Consolidation and Close 2024 Implementation Professional (1Z0-1081-24)

Oracle Question & Answer
SAP

Last Updated

05 June 2026

Rating

4.7 (2160)

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

Passing Score: 68%
Duration: 90 Minute

ALL ITprep Provides 100% Valid Oracle Exam Questions and answers which can helps you to Pass Your Certification Exam in First Attempt.

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  • Total Questions in Exams: 319
  • Total Questions in Dumps: 50

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Course Description
Exam topics covered

Financial Consolidation and Close Overview

  • Describe Financial Consolidation and Close features

Set Up the Financial Consolidation and Close Business Process

  • Run the setup wizard for the FCC business process
  • Add users and assign security roles
  • Describe Period and Movement as Dense dimensions (DSO)

Manage Dimensions

  • Describe the Account, Entity, and Scenario dimensions
  • Add and edit members using the Simplified Dimension Editor
  • Import members from a file
  • Add members to the Currency and Movement dimensions
  • Assign security access to dimension members

Set Up and Run Consolidations

  • Explain the consolidation process (translate, eliminate. consolidate) and closing balance calculation
  • Enter exchange rates and historical override rates and amounts
  • Configure the default translation method and default rate accounts
  • Explain the calculation statuses for entities
  • Run the consolidation process
  • Translate data to reporting currencies
  • Explain Intercompany Entity Aggregation Options
  • Configure Opening and Closing Balance System Rules

Set Up Advanced Consolidations

  • 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    
  • Explain the benefits of using Groovy Rules in FCC
  • Customize the translation process using translation rules and custom rate accounts

Build Out Your Financial Consolidation and Close Solution

  • Create forms
  • Manage the close process using Task Manager
  • Manage data collection using Supplemental Data
  • Define custom navigation flows
  • Describe valid and invalid intersection rules

Manage Journals

  • Create consolidation journals and consolidation journal templates
  • Create and Manage Enterprise Journals

 Manage Approvals

  • Explain the approval process for entities    
  • Set up the approval process
  • Explain approval groups and phased submissions
  • Define and edit approval groups
  • Assign approval groups to an approval unit hierarchy

Manage Business Process Data

  • Import and export; copy and clear data
  • Audit changes to the application and data
  • Back up and migrate data and metadata    
  • Automate repetitive tasks using EPM Automate    
  • Clone FCC environments

Design Reports and Dashboards

  • Create journal, intercompany, and consolidation reports
  • Create and run financial reports    
  • Create Dashboards

Load Data Using Data Integration

  • Register and edit application details
  • Set up integration prerequisites    
  • Create, edit, and run integrations
  • View integrations in Workbench
Exam topics covered

Financial Consolidation and Close Overview

  • Describe Financial Consolidation and Close features

Set Up the Financial Consolidation and Close Business Process

  • Run the setup wizard for the FCC business process
  • Add users and assign security roles
  • Describe Period and Movement as Dense dimensions (DSO)

Manage Dimensions

  • Describe the Account, Entity, and Scenario dimensions
  • Add and edit members using the Simplified Dimension Editor
  • Import members from a file
  • Add members to the Currency and Movement dimensions
  • Assign security access to dimension members

Set Up and Run Consolidations

  • Explain the consolidation process (translate, eliminate. consolidate) and closing balance calculation
  • Enter exchange rates and historical override rates and amounts
  • Configure the default translation method and default rate accounts
  • Explain the calculation statuses for entities
  • Run the consolidation process
  • Translate data to reporting currencies
  • Explain Intercompany Entity Aggregation Options
  • Configure Opening and Closing Balance System Rules

Set Up Advanced Consolidations

  • 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    
  • Explain the benefits of using Groovy Rules in FCC
  • Customize the translation process using translation rules and custom rate accounts

Build Out Your Financial Consolidation and Close Solution

  • Create forms
  • Manage the close process using Task Manager
  • Manage data collection using Supplemental Data
  • Define custom navigation flows
  • Describe valid and invalid intersection rules

Manage Journals

  • Create consolidation journals and consolidation journal templates
  • Create and Manage Enterprise Journals

 Manage Approvals

  • Explain the approval process for entities    
  • Set up the approval process
  • Explain approval groups and phased submissions
  • Define and edit approval groups
  • Assign approval groups to an approval unit hierarchy

Manage Business Process Data

  • Import and export; copy and clear data
  • Audit changes to the application and data
  • Back up and migrate data and metadata    
  • Automate repetitive tasks using EPM Automate    
  • Clone FCC environments

Design Reports and Dashboards

  • Create journal, intercompany, and consolidation reports
  • Create and run financial reports    
  • Create Dashboards

Load Data Using Data Integration

  • Register and edit application details
  • Set up integration prerequisites    
  • Create, edit, and run integrations
  • View integrations in Workbench

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9 reviews for Oracle Financial Consolidation and Close 2024 Implementation Professional

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    Hazel

    January 31, 2025 at 06:08 am

    ALL ITprep helped me crack 1Z0-1081-24 with confidence.

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    Leela

    December 24, 2024 at 12:00 pm

    These questions reflect the real exam format perfectly. They are an invaluable resource for anyone serious about passing.

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    Nandan

    December 13, 2024 at 01:07 pm

    The practice questions helped me focus on the most important areas, making preparation efficient.

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    Amogh

    December 07, 2024 at 11:39 am

    These practice questions were incredibly accurate and detailed. They helped me focus on what mattered most and gave me the confidence I needed to succeed.

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