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. As cloud consolidation becomes a reality, DASVM has the training courses that you'll need to get ahead of the curve and master the major concepts including the underlying calculation script language. This course takes you step by step through understanding consolidation and translation process and managing close management tasks and schedules.

You will begin by learning basic consolidation process and understanding consolidation dimension.

Then you will learn how to create and manage Journals, create and report on intercompany transactions and then continue to learn to create and manage your financial close tasks through Close Manager module within FCCS.

Course content

FCCS

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

Data Management

• Describe use cases for Data Management
• Perform administration tasks: predefine 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 the Account dimension
• Explain Data Source dimension and guidelines for adding member hierarchies
• Explain Consolidation dimension
• Explain the Currency dimension
• 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 the approval process

Financial Close Manager Module

• Set up the 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, EPM Automate
• Build integrations across systems and services – Integrated EPM Business Processes, REST APIs
• Perform lifecycle management for different scenarios

Creating an 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 the sequence of events in the consolidation process
• Diagnose data flow of the consolidation process and the role of Consolidation dimension
• Diagnose anatomy of the 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 the 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 tasks in Smart View
• Analyze data using ad hoc and Smart Forms

Enterprise reporting using FCCS

• Design reports using Reporting Web Studio
• Previewing Reports
• Setting Preferences
• Printing Reports and Snapshots

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