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Microsoft Dynamics 365 for Finance and Operations, Financials (MB-310) Practice Exam

Microsoft Dynamics 365 for Finance and Operations, Financials (MB-310) 


About Microsoft Dynamics 365 Finance MB-310 Certification

The Microsoft Dynamics 365 for Finance and Operations, Financials (MB-310) exam has been built for candidates who are Functional Consultants with having knowledge of analyzing business requirements and translate those requirements into fully-realized business processes and solutions that implement industry best practices. Candidates serve as a key resource in implementing and configuring applications to meet business requirements.


Knowledge Required 

  • Candidates for this exam have a fundamental understanding of accounting principles and financial operations of businesses, customer service, field service, manufacturing, retail, and supply chain management concepts.
  • Candidates for this exam typically specialize in one or more feature sets of Microsoft Dynamics 365 Finance, including finance, manufacturing, and supply chain management.
  • Candidates must have knowledge of basic accounting principles and practices.


Course Outline

The Microsoft Dynamics 365 for Finance and Operations, Financials (MB-310) Exam covers the latest exam updates and topics - 

MODULE 1 - Set up and configure financial management (50-55%)

Define and configure the chart of accounts

  • define and configure the chart of accounts and main accounts
  • describe use cases for main accounts categories, ledger account aliases, and balance control accounts
  • configure financial dimensions and dimension sets
  • configure legal entity overrides for financial dimensions and main accounts
  • create and configure account structures and advanced rules

Configure ledgers and currencies

  • construct fiscal calendars, years, and periods
  • configure the ledger
  • describe and configure batch transfer rules
  • set up currencies and conversions for a legal entity
  • manually enter currency exchange rates
  • configure currency exchange rate providers.

Implement and manage journals

  • describe options for implementing voucher numbers in journals
  • configure journal names
  • set up journal controls and posting restriction rules
  • describe and configure journal approvals
  • create voucher templates
  • describe use cases for periodic journals
  • configure and apply accrual schemes
  • set up intercompany accounting

Implement and manage cash and bank

  • create and maintain bank groups and bank accounts
  • describe and configure electronic payment formats
  • configure and process bank reconciliations including advanced bank reconciliations
  • configure cash flow reports

Implement cost accounting and cost management

  • describe cost accounting processes and terms
  • configure cost accounting processes
  • create a cost accounting report by using the Cost Accounting Report wizard
  • describe and configure the costing sheet and indirect costs
  • configure cost objects and cost groups
  • implement inventory costing versions
  • differentiate between inventory costing methodologies
  • configure item groups and posting profiles
  • perform inventory closing and adjustment processes

Perform periodic processes

  • configure a financial period workspace and closing schedule
  • define and demonstrate periodic closing processes and end-of-year processes
  • perform financial consolidation and elimination processes
  • configure allocation terms for a main account
  • create and process ledger allocation rules
  • implement foreign currency revaluation processes
  • create and management financial reports including row, column, and report definitions
  • Configure, collect, and report taxes
  • configure tax groups, tax codes, settlement periods, and jurisdiction
  • configure tax ledger posting groups
  • prepare periodic filings including end-of-year tax reporting


MODULE 2 - Implement and manage accounts payable and expenses (10-15%)

Implement and manage Accounts payable

  • configure invoice validation policies
  • set up vendor posting profiles
  • process orders, invoices, and payments
  • configure the Vendor Collaboration module
  • configure vendor payments including positive pay and payment calendars
  • configure accounts payable charges

Configure and use expense management

  • configure expense management including categories, per diem options, mileage expenses, and personal expenses
  • configure workflows for expense management
  • describe use cases for expense management policies and the Audit workbench
  • describe and configure credit card processing
  • manage expense reports


MODULE 3 - Implement accounts receivable, credit, collections, and revenue recognition (20-25%)

Implement and manage accounts receivable

  • set up customer posting profiles
  • configure and process free text invoices
  • process orders, invoices, and payments
  • configure customer payment setup
  • configure accounts receivable charges

Manage credit and collections

  • configure credit management processes
  • configure collections management processes
  • manage delinquent customers
  • prepare and send customer account statements
  • manage customer credit limits and credit holds
  • set up and process collection letters and interest notes

Configure revenue recognition

  • configure journals and parameters for revenue recognition
  • implement revenue schedules
  • enter and process revenue recognition transactions


MODULE 4 - Manage budgeting and fixed assets (10-15%)

Configure and manage budgeting processes

  • configure budgeting components including budget models, codes, allocation terms,
  • cycles, and transfer rules
  • create a budget plan including scenarios, stages, allocation stages, stage allocations, and templates
  • define a budget planning process and plan a budget
  • configure budget controls including cycle time spans, budget parameters, budget fund
  • availability options, budget control rules and groups, and over-budget permissions
  • create and configure registry entries
  • implement budget workflows
  • perform budget checks on documents and journals

Implement and manage fixed assets

  • create fixed assets and fixed assets groups
  • configure fixed asset parameters
  • describe and configure fixed asset books and depreciation
  • enable integration with purchasing, projects, and free text invoices
  • acquire, depreciate, and dispose of fixed assets
  • create fixed asset budgets and transfer the budgets to the budgeting module
  • estimate and perform an elimination of a project to a fixed asset


Exam Pattern 

  • Exam Name: Microsoft Dynamics 365 Finance
  • Exam Code: MB-310
  • Number of Questions: 40-60
  • Length of Time:  120 Minutes
  • Registration Fee: $165.00
  • Passing Score: 700 (on a scale of 1-1000)
  • Exam Language English


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