Oracle Financial Consolidation and Close Cloud Service V1.1 (FCCS)

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Oracle Financial Consolidation and Close Cloud Service (FCCS) is a cloud-based configurable solution to ensure that financial consolidation processes are compliant, auditable, timely, and transparent. It’s a subscription-based service built for, and deployed on, Oracle Cloud. That means no hardware setup, and minimal IT support, which makes it simple and quick to deploy.

In This Module We Will Learn :

FINANCIAL CONSOLIDATION AND CLOSE CLOUD OVERVIEW

  • Describe the financial consolidation and close processes
  • Identify deployment use cases
  • Describe Financial Consolidation and Close related components

DATA MANAGEMENT

  • Describe use cases for Data Management
  • Perform administration tasks: predefined system setting profiles, set up source systems, register target applications, set up drill through
  • Set up definitions for import format, locations, period mappings, category mappings
  • Perform loading data tasks: create member mappings, define data load rules, run or schedule data load rules
  • Perform batch processing – define batch, execute batch, schedule job

CONSOLIDATION MODULE – DIMENSIONS

  • Explain system dimensions and pre-seeded members including requirements and restrictions – upgrade and net new for extra customs
  • Design and set up Account dimension
  • Explain Data Source dimension and guidelines for adding member hierarchies
  • Explain Consolidation dimension
  • Explian Currency dimension
  • Settings and Actions
  • Design and set up Entity dimension
  • Design and set up Intercompany dimension
  • Design Cash Flow reporting, FX calculations, and Currency Translation Adjustments using Movement dimension
  • Design GAAP and IFRS financial reporting using Multi-GAAP dimension

CONSOLIDATION MODULE – BUILDING OUT A FINANCIAL CONSOLIDATION APPLICATION

  • Set up Financial Consolidation and Close security
  • Set up valid intersections for data entry and business rules
  • Create data forms
  • Execute intercompany matching reports with options
  • Manage approval process

DESIGNING REPORTS AND DOCUMENTS

  • Design reports using Financial Reporting Studio

FINANCIAL CLOSE MANAGER MODULE

  • Set up close process
  • Manage task types and templates
  • Manage close schedules

ORACLE EPM CLOUD FOUNDATION

  • Set up and configure Cloud security
  • Perform system maintenance
  • Build EPM Cloud automation routines – Job Scheduler, EPMAutomate
  • Build integrations across systems and services – Integrated EPM Business Processes, REST APIs
  • Perform lifecycle management for different scenarios

CREATING A FCCS APPLICATION

  • Describe the workflow for creating a Financial Consolidation and Close application
  • Create a Financial Consolidation and Close application
  • Explain application features available to be enabled
  • Design application framework (metadata and user-defined elements)
  • Design and implement importing and exporting metadata
  • Design and implement importing and exporting data

CONSOLIDATION MODULE – CONSOLIDATIONS, ELIMINATIONS, AND TRANSLATIONS

  • Describe sequence of events in consolidation process
  • Diagnose data flow of consolidation process and the role of Consolidation dimension
  • Diagnose anatomy of elimination process and the role of Intercompany dimension
  • Explain default currency translations for a multi-currency application and methods applied
  • Create translation rules to override the default translations – amounts/rates, defaults, logic
  • Diagnose anatomy of converting reporting currencies as it relates to Entity Currency and Parent Currency
  • Describe calculation status and what actions can change them

SUPPLEMENTAL DATA MODULE

  • Create data sets and dimension attributes

USING SMART VIEW

  • Explain user taks in SmartView
  • Analyze data using ad hoc and Smart Forms