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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

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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