KEY Interview Questions

1. How does the balance sheet roll forwards?

 Last year Closing Balance will come to the current year Opening Balance.
 Last Period Closing Balance will come to Current period Opening Balance.

2. What CTA?
CTA – Cumulative Translation Adjustments.
 Generally CTA will be calculated when child currency is different from parent
currency.
 CTA can calculate the Retained earnings when the Average rate is different from
Ending Month rate.
 If we want to test the CTA we will create the entity structure and enter the
Exchange rates then we will enter the data and run the consolidation.
 Note: When both Child currency and parent currency are the same then CTA
won't be calculated.

3. How many plug accounts we can create.

 We can Create Multiple Plug Accounts.
 Because for Intercompany transactions we must have a Plug account to store the
difference between ICP accounts.

4. Explain the intercompany elimination process?

 The Intercompany Elimination Process is a transaction that will happen between

two or more Branches of the same company.
 The transaction will be eliminated at the parent level.
 Identify the Accounts and Entities which are participating in the Intercompany
Transaction.
 And Create the Plug Account and Assign Plug Account to ICP Accounts.
 Note: Without assigning the plug Account the Intercompany Elimination won’t
happen.

5. Which Dimensions are involved in FCCS Elimination Process?

The Elimination Process involves Entity, Intercompany, Account, Data source, and
Consolidation Dimensions.

6. How to install a smart view?

 To install Smart View First we Go to Navigator and then Select the User Settings
and Actions and then select the Download option and Select the Smart View
along with the Smart View Add-on for Administrator.
  If you download only Smart View All Dimensions are not available in the Smart
View. That’s why we need to Download the Smart View Add-on for
Administrator, then only All Dimensions Available in the Smart View.

7. Key Dimensions in FCCS?

 Consolidation
 Movement

8. What is the difference between consolidation and translation?

 Consolidation is the Process gathering data from base entities and aggregating
the data to Parent Entities.
 Translation is the process that we use when Parent Currency is different from
Entity Currency.

9. How to configure the FDMEE Security Process?

FDMEE – Financial Data Quality Management Enterprise Edition.

10. Explain about data load mappings?

In Data Management we have 5 types of Data Load Mappings

1. Explicit Mapping
2. In Mapping
3. Between Mapping
4. Multi Dimension Mapping
5. Like Mapping

 Explicit: It is One to One Mapping Where the source value is exactly matched and
replaced with Target value

o Example: Source Value “ABC” is replaced with Target value “123”.

 In: It is Many to One Mapping. We can map a list of non-sequential source values
to one Target Value.

o Example: Source Accounts “1505”, “1510”, “1515” should map to the Target
 Account “15000010”.

 Between: It is Many to One Mapping where the range of source values are
replaced with the Target Value.

o Example: A range from “01 to 10” is replaced with “99”.

 Multi Dimension: It is many to One Mapping here we will define member mapping
based on multiple source column values.
 o Example: “Entity E1, E2”; “Department D1, D2”; “Account A1, A2” should
be assigned for the Target “Account A10”.
 Like: It is One to One Mapping Where the source value is matched and replaced
with the target value.
o Example: “Department” is replaced with the Target value “D1”.

11. What are the recent updates in FCCS?

Jan, Feb (22.02; 22.03)

1) Performance Substitution Variables (Jan Release)

2) Performance Substitution Variables (Feb Release)

3) Translation Override Rules Search Enhancement

4) Enhanced Auditing for Enterprise Journals

5) Override Translation and Configurable Consolidation Rule Totals

March (22.03)

6) Approval Groups to Manage Submission Phases

7) Approval Template for separate Approve and Lock Processes

8) Enhanced Metadata Validation for Solve Order Property

Year-to-Date FX Variance Translation Calculations.

9) Enhanced Comment Management in Enterprise Journals

Infosys
12. What is FCCS Balance?

 If the Balance Sheet is Out of Balance then A Balance Amount is Calculated and Posted
to Seeded Account Called FCCS_Balance with the Movement Dimension Member
Fccs_Other_Current_Liabilities

13. How does translation work?

 When Parent Currency and Entity Currency are different then the Translation Process
will happen.
 If we want to see how translation will happen we need to enter override rates and
Amount Overrides
 Then Run the Consolidation and see how translation will work at the parent level.

14. Explain about the journals?

 Journals are used to make Adjustments on Account Balances at Parent Level.

  To Enable the Journals in the Application we need to select the following options

O Yes, with Workflow

1. Create

2. Submit

3. Approve

4. Post

O Yes, without Workflow

1. Create

2. Post

· If we select NO then the journal option will not be available in the application.

15. OBFXCTA

· OBFXCTA – Opening Balance Foreign Exchange Cumulative Translation Adjustments.

16. Consolidation Dimension?

 Consolidation Dimension is aggregate Data to the Child Entity to Parent Entity

Under the Consolidation We have these members

Entity Input: - Business Users Will Enter the Data in Entity input, If they have any Adjustments
they will post the Journals using the entity input.

Entity Total: - Entity input data will Aggregate to the Entity Total.

Proportion: - Based on the Exchange Rates and Ownership% the data will get translated and
consolidated to the Proportion.

Elimination: - If there are ICP Account’s that Account’s will go to the elimination.

Contribution: - Proportion Data and Elimination Data Will add up to the Contribution. Entity

Consolidation: - Which is the final amount which is Consolidated Base entity to Parent Entity in
Entity Consolidation. Consolidation data Multiple Periods;-

17. Approval Process in FCCS.

 An administrator can only manage the Approval Process.

 To set up the approval process in FCCS we need to
 We should configure the approval unit hierarchies
 Assign Hierarchies to scenario and time period
  Start approval process for a Scenario and time period·

Intellicore
18. How can you rate yourself when writing the Scripts?
5 out of 10

19. What are the out of the box functionalities in FCCS?

 FCCS Balance
 CTA
 Cash Flow

20. What is JTD Journal?

 A Journal - to -Date Journal entry Carries Forward from period to period
 When you Select the view member FCCS_YTD_Input you can specify that
journal entities should be posted as journal to date
21. What is translation currency input?

 When we enter translated data into translated input currency journals we will
select Input Currency rather than Entity Currency
 The posted data is stored at the Translated Currency Input member of the
Consolidation dimension

22. What is multidimensional mapping?

Multi Dimension: It is many to One Mapping here we will define member mapping
based on multiple source column values.

23. Explain about data source dimension.

 Data source dimension is used to track the source of data to determine whether
the data is entered manually or Loaded from DL, Journal Posting or
supplemental details
 The system stores different types of input in the Data Source dimension
 By default the system creates the data source members
 FCCS_Total Data Source
 FCCS_No Data Source
 FCCS_TotalInputAndAdjusted
 FCCS_Data Input (Used to store all the data entered manually)
 FCCS_Total Eliminations
 FCCS_Supplemental Data
 FCCS_Journal Input
 FCCS_PCON (Used For storing the Percent Consolidation)
Deloitte
24. What is EPM Automate?
 By using EPM Automate users can perform tasks remotely
 EPM Service Administrator can automate many repeatable tasks
1. Import and Export Metadata, Data
2. Artifacts and application snapshots, Templates, and Data Management
Mapping.
3. Run Data Management Batch Rule, Generate Data Management Reports.
4. Generate Audit Report and Provisional Report.
5. Import Supplemental Data from a file into FCCS.

Huron

25. Approval Process?

Administrators can set up an approval process to transfer ownership of data, provide
review control, and ensure data privacy.
Approval Process Enables
- Transfer of Ownership Data
- Review Control
- Data Privacy
The approval process generally follows these steps:
 The administrator sets up the approval unit hierarchy.
 The administrator assigns a Scenario, Year and Period combination to the
approval unit hierarchy.
 The administrator starts the approval process.
 Owners and Reviewers promote approval units according to the promotional
path.
 The last reviewer in the approval hierarchy approves the approval unit. It
changes to Approved status. After an approval unit is Approved, no more
changes can be made to it.
 The administrator can optionally lock entities before closing the period.

26. What is the Historical Override Rate?

 Most of the accounts use the standard translation method with default exchange
rates.
 But Some Balance sheet accounts are specified as Historical Rate accounts for
(Example Common Stocks, Investments in Subs).
 Accounts specified as Historical Rate accounts are translated using the Override
rate or Override Amount that we specify.
 If there is no Override rate or Override amount for a Historical Rate account, The
system uses the global exchange rate for translation.
  For Historical Rate accounts, the system provides a pre-built form i.e( Override
Rates) to enter an override rate or override amount for the account.

27. How to specify Historical Rates.

To enter override rates:
1. On the Home page, click Data.
2. From the Forms list, click Override Rates.
All accounts specified as Historical Rate accounts are listed in the rows.
3. From the POV, select a Scenario, Year, and Entity.
4. For an account, enter the amount or rate for the override, and click Save

28. What is Amount Override?

It is used for override entry to correct override the translation amount in FCC.
The amount overrides the current period activities only.
29. What is Rate override?
The rate override must be enter at the same intersection where the functional currency
activity exists.

30. What is Multi-GAAP?

The Multi-GAAP dimension is an optional dimension that is used if you need to report
your financial statements in both local GAAP and in IFRS or other GAAP.

31. Data Storage Properties.

 Store
 Used to store data values of members
 We cannot set the store data storage property to the parent member if
their children are dynamic calc
 Dynamic calc
 Here the system will calculate data values of members
 We can create up to 100 child under one dynamic calc parent member
 Shared Member
 It will allows the members in same dimension to share data values
 It allows alternative rollup structures in the application
 Never Share
 It is the default data storage type
 We can use Never Share for the parent members with only one child that
aggregates to the parent
 Label only
 Displays the data of the first child member regardless of the aggregation
setting of the children
 We cannot assign the Lv 0 Members as Label only

32. Account Member Properties

 There are 18 Types of Account member Properties. They are:-

1. Name - Enter a name that is unique across all dimension members.

2. Description - Optional one Description
3. Alias Table - Optional: Select the alias table to store the alias name.
4. Alias - Optional: Enter an alternate name for the member.
5. Account Types - Select the account type:
 Expense
 Revenue
 Asset
 Liability
 Equity
 Saved Assumption
6. Variance Reporting - Select an option:
 Expense
 Non-Expense
7. Time Balance - The Time Balance property specifies how the system calculates
the value of summary time periods.
8. Exchange Rate Type - Indicates the translation options for the financial
accounts.
· Historical
· Historical Amount Override
· Historical Rate Override
· No Rate (for non-historical accounts)
By default, the system uses Average Rate for Flow accounts, and Ending Rate
for Balance accounts.
9. Source Cube - Specify the source cube for the member.
10. Data Storage - Select data storage options:
 Store
 Dynamic Calc
 Never Share
 Shared
 Label Only
11. Two Pass Calculation - Select whether to calculate values of members based
on values of parent members or other members.
12. Allow Upper-Level Entity Input - Specify whether parent Entity input is allowed
for this account.
13. Plan Type - Indicates the application type for which the member is valid.
14. Data Type - Select a data type:
• Unspecified
• Currency
• NonCurrency
• Percentage
• Date
• Text
• Smart Lists
15. Smartlists - Optional: Select a smart list to associate with the member.
16. Enable for Dynamic Children - NO
17. Number of Possible Dynamic Children - 10
18. Access Granted to Member Creator - Inherit—The member creator will inherit
the closest parent's access to the newly-created member.

33. Account Types

There are 6 types of Account types.They are:-
1. Expense
2. Revenue
3. Asset
4. Liability
5. Equity
6. Saved Assumption

 Expense Costs incurred by a company to generate revenue.

Example:- “Cost of sales”, “Salary expense”, “Travel expense”
 Revenue Total amount of income generated by the sale of goods or services.
Example: - Income from sales of fixed assets.
 Assets is any resource owned or controlled by an individual company with the
expectation that it will provide future benefits.
Example: “office buildings”,”Gold”,”Shares”.
 Liability Legal debts and obligations that companies owe to third parties as a
result of business operations.
Example: Loan
 Equity The value of ownership in a company and equal to the amount of assets
remaining after all debts are satisfied.
Example: “Common Stock”, “Retained Earnings”
 Saved Assumption Non-Financial items used by a company for statistical
analysis and reporting purposes.
Example: “Head count”, “Units sold”, “Miles travelled”, “Patients admitted”.

34. Data Types.

There are 5 types of data Types. They are:-
1. Currency - Stores and displays in the default currency.
2. Non-currency- Stores and displays as a numeric value.
3. Percentage - Stores a numeric value and displays as a percent.
4. Date - Displays as a date.
5. Text - Displays as text.

35. What are the Errors you are facing during import data through Data
Management?

Errors that we faced during importing data through Data Management are
 Import Format File types should be selected as per the Source data file
 Errors in Mappings
 Errors in Transfer the Balance to the periods
36. What is Data Management?
 Data Management is Integration Tool which is used for collecting, Keeping, and
using data securely, efficiently and cost efficiency
 Which is stores the data across the multiple clouds
37. What is Supplemental Data?
To work with unstructured, supplemental data taken from sources other than Oracle EPM
software. In doing so, employees can gain greater control over and visibility into their
manual, spreadsheet-based financial processes.

38. What is a Balance Sheet?

Last year Closing Balance is the Current year Opening Balance.

39. What are the challenges you faced in your experience?

40. HFR Reports
41. Other Data option?
42. How to calculate Minority Interest? Formula of Minority Interest?
43. What is Ownership Management?
44. Explain Cash Flow statement.
45. Batch in Data management.
46. User creation
47. What are the steps we need to define while creating applications and which
dimensions are hardcoded over there.
48. What will happen if we don't specify the View dimension in the import format
in DM?
49. How to give access to the entities without touching the Approval process.
50. Explain about the cash flow statement.
51. Security Configuration.
52. Navigate me to build the account properties.
53. Explain to me about movement dimensions.
54. What are the challenges you faced in your project?