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

MB-310 exam is 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 following topics - 

1. Set up and configure financial management (35-40%)

1.1 Implement and configure financial modules

• Configure and apply accrual schemes
• Configure cash flow reports
• Configure the letter of credit and letter of guarantee templates
• Set up intercompany accounting
• Create and configure account structures
• Configure other modules including cash and bank management and budgeting, credit and collections, audit workbench, and consolidations
• Implement posting definitions

1.2 Implement and test cost and allocation policies

• Implement cost accounting processes
• Implement inventory costing versions
• Implement item groups
• Create and process Ledger allocation rules
• Demonstrate use of cost accounting terminology
• Construct fiscal calendars, years, and periods

1.3 Perform periodic processes

• Configure financial period close
• Define and demonstrate periodic closing processes and end-of-year processes
• Demonstrate regional tax reporting capabilities
• Perform bank reconciliation
• Perform financial consolidation
• Create a cost accounting report by using the cost accounting Report Wizard
• Allocate funds by using Accounting distributions

1.4 Configure, collect, and report taxes

• Configure tax components
• Implement and test end-of-year tax reporting
• Prepare periodic filings

2. Manage and apply common processes (20-25%)

2.1 Define and configure the account structure

• Demonstrate the advanced ledger entries functionality
• Set up derived financial hierarchies
• Demonstrate financial consolidation and elimination processes
• Set up funds
• Define and configure the main account
• Define and configure the financial dimensions and dimension sets
• Perform financial statements
• Perform tracking of posted transactions

2.2 Implement regulatory and localization features and manage currencies

• Set up legal entity currencies and conversions
• Configure currency exchange rate providers
• Implement foreign currency revaluation processes
• Determine which regulatory and localization features to apply to a given scenario

2.3 Implement and manage journals

• Identify the different types of journals available and their setup
• Set up journal controls
• Configure the journal posting restriction rules
• Configure approval processes by using workflows
• Create voucher templates
• Perform daily procedures using journals

3. Implement and manage accounts payable and receivable (20-25%)

3.1 Implement and manage Accounts receivable

• Set up customer posting profiles
• Manage delinquent customers
• Configure billing codes for free text invoices, process orders, invoices, and payments
• Configure and process credit and collection
• Configure customer payment setup
• Prepare and send customer account statements
• Configure accounts receivable charges

3.2 Implement and manage Accounts payable

• Configure invoice validation policies
• Set up vendor posting profile, process orders, invoices, and payments
• Configure the Vendor collaboration module
• Configure vendor payments
• Configure accounts payable charges

4. Manage budgeting and fixed assets (15-20%)

4.1 Configure and manage Budgeting processes

• Configure budgeting components
• Create a budget plan template
• Create a budget plan by using the budget plan wizard
• Perform the budget planning process
• Configure budget controls
• Create and demonstrate registry entries
• Implement budget workflows

4.2 Implement and manage fixed assets

• Create fixed assets and fixed assets groups
• Configure fixed asset parameters
• Identify when to enable integration with purchasing and sales module
• Perform acquisition, depreciation, and disposal of fixed assets

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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