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Navigating FCCS Intricacies for a Smooth Deployment Part 1

The successful deployment of Financial Consolidation and Close (FCC) remains a discussion point within the FCC community more than three years after FCC made its debut.  While Oracle invested time and effort to standardize consolidation rules, the intricacies and variety within the field of financial consolidations presents its own challenges. Oracle began offering their cloud […]

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Navigating FCCS Intricacies for a Smooth Deployment Part 2

In the previous post, I began listing topics for consideration when building a FCC application.  I will continue the discussion on how to remain connected to the FCC community. FCC Forum and Oracle Cloud Readiness Knowing where to find information or how to reach out to fellow peers is the first step.  Oracle has an […]

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Top 3 Enhancements for EPM Automate

The May 2019 update for Oracle’s EPM Automate utility includes some key features to be aware of… Support for Mac OS — The utility can now be installed on Mas OS computers. Execute multiple instances from the same directory — The utility now supports executing multiple instances against a cloud environment from the same directory. […]

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How to Enable FCCS Balance Account

The basic Accounting formula is Total Assets = Total Liabilities + Total Equity. The seeded account FCCS_Balance in FCCS application is designed to temporarily house the imbalance in the basic Accounting formula at Entity Currency. By default, this seeded account is Disabled for all Scenarios. To enable this account, open the Balance the Balance Sheet […]

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FCCS Eliminations

Elimination process in FCCS  The consolidation process in FCCS includes elimination of intercompany balances, which will occur when intercompany entities meet at the first common parent within the Entity hierarchy. The elimination process use Entity, Intercompany, Account, Data Source, and Consolidation Dimensions. In addition, an intercompany “Balancing Account” or Plug Account must be created to […]

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FCCS: Locking Data

It is always a good idea to lock data after completing period end-processing tasks. In HFM, we create the status grid that we use to lock or unlock data for the period and entity hierarchy intersections. The procedure to lock data in FCCS is different as follows: In Manage Approvals we need to make sure […]

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FCCS Translation Rates and Movement

In Hyperion Financial Management (HFM), we know that Assets and Liabilities are Balance Accounts where we assign Ending Rates while Revenues and Expenses are Flow Accounts where we assign Average Rates. In Oracle Financial Consolidation and Close Cloud (FCCS), Balance Sheet and P&L Accounts are assigned the same Time Balance and Exchange Rate Type. For […]

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The Four Custom Dimensions of FCCS

Although Oracle Financial Consolidation and Close Cloud (FCCS) offers enhanced functionalities such as multi-currency consolidation, pre-built Movement and Data Source dimensions, pre-seeded dimensions with corresponding consolidation, translation and FX calculation rules, the hesitation to take advantage of these FCCS enhancements were mostly due to the restrictive two custom dimensions. For some companies, two custom dimensions […]

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HFM to FCCS [ODTUG Webinar Q&A – Part 2]

If you didn’t have an opportunity to attend the webinar, HFM to FCCS – A Customer Success Story, presented by Doga Pamir, Solutions Architect at Perficient, you might want to check it out on ODTUG’s website as part of their educational webinar series. This event was originally presented at Kscope17 and was so well received, that ODTUG […]

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HFM to FCCS [ODTUG Webinar Q&A – Part 1]

Oracle Financial Consolidation and Close Cloud Service (FCCS) is one of the latest cloud solutions offered by Oracle.  Doga Pamir, Solutions Architect at Perficient, was selected by ODTUG to present at Kscope17 on this topic. His session, HFM to FCCS – A Customer Success Story, landed Doga not one, but two awards! The session was so well […]

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Oracle FCCS: A Deep Dive [Webinar Q&A – Part 2]

A recent Perficient webinar, Oracle FCCS: A Deep Dive, held a captive audience for the Q&A session well beyond the top of the hour. In the second of a two-part blog post, I share the highlights of questions asked by attendees and answered by both Tony Coffman, Oracle EPM Practice Director at Perficient, and Rajesh Bhatia, […]

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Oracle FCCS: A Deep Dive [Webinar Q&A – Part 1]

A recent Perficient webinar, Oracle FCCS: A Deep Dive, held a captive audience for the Q&A session well beyond the top of the hour. In this two-part blog post, I’ll share the highlights of questions asked by attendees and answered by both Tony Coffman, Oracle EPM Practice Director at Perficient and Rajesh Bhatia, VP of […]

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Perficient Solutions Architect Wins Awards for Kscope17 Session

Nearly 100 Kscope17 attendees attended a session by Doga Pamir, Solutions Architect, Perficient Oracle, that recently landed him two top honors: Best First-Time Speaker Award HFM to FCCS – A Customer Success Story Doga Pamir, Perficient Top Speaker Award (Financial Close) Financial Close – HFM to FCCS – A Customer Success Story Doga Pamir, Perficient Doga’s presentation, HFM […]

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Oracle FCCS: A Deep Dive [Webinar]

Oracle Financial Consolidation and Close Cloud Service (FCCS) is the latest evolution of Oracle’s market-leading Financial Close Suite. What makes it different than Hyperion Financial Management (HFM)? A lot! Join us for a side-by-side review of FCCS and HFM. If you’re a customer of Hyperion Enterprise, HFM, or non-Oracle financial reporting packages evaluating alternative solutions, […]

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FCCS and Financial Statements

Financial Statements – Balance Sheet, Income Statement, and Cash Flow Statement – are generated after completing the accounting period end close process. Proper design of Account hierarchy has always been the effective means of creating Balance Sheets and Income Statements. In Oracle Financial Consolidation and Close Cloud Service (FCCS), Movement dimension was designed to facilitate […]

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Close Manager – the Appropriate Tool to Manage Close Process

Don’t you wish you had data to evaluate the efficiency of your period-end close process? Wouldn’t it be nice to know where the bottlenecks are? We live in a high-tech world, but it is not surprising to see large companies still using whiteboards to monitor progress of their accounting close process. Period-end close tasks are […]

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Setup Cross-Pod Integration for Seamless User Experience

Oracle has announced some exciting changes coming to the EPM Cloud in the July to August time frame. If you are headed to Kscope 17 in San Antonio, Texas, be sure to attend the Sunday Symposium to catch Oracle’s live demo of cross-pod integration. What Is Cross-Pod Integration? When I use the term “pod,” I […]

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How to Backup Planning Application Cloud Service (PBCS)

Oracle Backup Policy “Oracle Planning and Budgeting Cloud creates the snapshot by backing up artifacts of all service components and Essbase data present in your service instance during the maintenance window. Because Oracle stores only the snapshots created in the most recent maintenance window, the artifacts and data available for restoration depend on their state […]

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Sneak Preview: Financial Consolidation Cloud Service

If you’ve attended a recent Oracle EPM conference, you are likely aware that Oracle Planning and Budgeting Cloud Service (PBCS) has been the most successful cloud launch in Oracle’s history. That success has been fueled by many factors, including perceived difficulties with the predecessor to PBCS, Hyperion Planning. As of this writing, Oracle claims over […]

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