Oracle Financial Consolidation & Close Cloud Service (FCCS) Training is designed for financial analysts, controllers, ERP/CPM consultants, & finance professionals who want to streamline & automate financial consolidation & reporting processes. FCCS, part of Oracle EPM Cloud, helps ensure accurate, timely financial closes with built-in compliance, transparency, & audit capabilities. This training equips learners with the skills to manage complex consolidations, intercompany eliminations, & financial reporting, making it essential for professionals aiming to enhance financial accuracy and efficiency in modern enterprises.
Course Objectives:
In this course, you will learn to:
- Automating financial consolidation and close processes
- Using prebuilt templates for quick implementation
- Ensuring regulatory compliance, integrating data from various sources
- Managing collaboration and workflow effectively
- Performing real-time reporting and analysis
- Deploying scalable solutions in the cloud
- Implementing robust data security measures
Course content
Introduction to Oracle EPM Cloud and FCCS
- Overview of Oracle EPM Cloud
- Role of FCCS in Financial Close
- Key Benefits of FCCS
- FCCS vs. HFM (Hyperion Financial Management)
Lab:
- Explore Oracle FCCS interface and dashboards using Oracle Cloud Free
Tier or Sandbox
FCCS Architecture and Navigation
- Application Overview
- Key Dimensions (Entity, Scenario, Account, Movement, etc.)
- FCCS Standard Dimensions and Custom Dimensions
- Navigating FCCS Dashboards and Tasks
Lab:
- Log in to FCCS and create a navigation map for your assigned tasks
Creating and Configuring FCCS Application
- Application Creation Options
- Currency Settings and Translation Methods
- Consolidation Methods and Ownership Management
- Enablement of Modules (e.g., Journals, Intercompany Matching)
Lab:
- Set up a sample FCCS application with multi-currency and basic
consolidation logic
Metadata and Dimensions
- Managing Dimensions via UI and Smart View
- Creating Hierarchies
- Validations and Metadata Imports
- Custom Dimensions (if enabled)
Lab:
- Import dimension metadata using a flat file or Smart View
- Build a simple organizational structure
Data Management and Integration
- Data Load Options (Flat File, Data Management, Data Integration)
- Mapping Source Systems
- Creating Load Rules
- Data Validation and Error Handling
Lab:
- Load trial balance data into FCCS using Data Management
- Map accounts and entities
Intercompany Eliminations
- Intercompany Accounts and Partner Entities
- IC Matching Reports
- Automatic Eliminations in FCCS
- Configuring Elimination Rules
Lab:
- Simulate intercompany transactions and test auto-eliminations
Consolidation Process
- Consolidation Rules Overview
- Translation Process (Multi-Currency)
- Ownership Management (if enabled)
- Consolidation Execution and Status Monitoring
Lab:
- Run consolidation for a group and validate consolidated results
Journals and Adjustments
- Journal Types and Workflow
- Creating and Posting Journals
- Manual Adjustments vs. System Adjustments
Lab:
- Post a manual journal entry for an adjusting item
- Approve journal workflow through FCCS
Financial Reporting & Smart View
- Overview of Oracle Reports
- Creating Web-Based Reports
- Connecting Smart View to FCCS
- Ad Hoc Analysis and Financial Statements
Lab:
- Build a basic income statement using Financial Reporting
- Generate a variance analysis using Smart View
Close Manager and Task Management
- Task Manager Overview
- Creating Close Task Lists
- Alerts, Notifications, and Dependencies
- Monitoring Close Status
Lab:
- Set up a month-end close checklist and assign tasks to team members
Security and User Access
- User Roles in FCCS
- Access Control for Artifacts
- Approval Workflow and Segregation of Duties
Lab:
- Assign roles to different users and simulate approval flow
To see the full course content Download now
Course Prerequisites
- It's beneficial to have a foundational understanding of financial accounting principles consolidation processes, and reporting requirements.
Who can attend
- Financial Analysts
- Controllers
- Accountants and Finance Professionals
- ERP/CPM Consultants
- Business Analysts
- Implementers and Administrators
- Project Team Members
- Power Users and Business Users of Oracle EPM cloud solutions
- IT Admins and Functional Leads
Number of Hours: 30hrs
Certification
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- One to One Training
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- Fastrack & Normal Track
- Resume Modification
- Mock Interviews
- Video Tutorials
- Materials
- Real Time Projects
- Virtual Live Experience
- Preparing for Certification
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