You can generate predefined reports or build your own reports by using the Query Report Template, Report Group Assignment, and Report Definition functionality:
In Financial Close Management, a user with a Report Designer role creates a query whose definition can be then exported as an XML file.
Use Oracle Business Intelligence Publisher within Word (BI Publisher must be installed) to import the XML file created above and use it to create a template document, which should be in RTF format.
Back in Oracle Hyperion Financial Close Management create a report, which uses both the query and the template created above. That report can be set with a default output of PDF, HTML, or XLS (Excel).