The Microsoft MB-310 exam also known as the Microsoft Dynamics 365 for Finance and Operations is a core exam for Financials. After the qualifying the MB-310 examination, the candidate will be able to do the following technical tasks-
- Setting up and configuring financial management
- Managing and applying common processes
- The candidate will be able to implement and manage accounts payable and receivable
- Managing, budgeting and fixing assets.
The Course is designed for the following list of candidates-
- Functional Consultants who examine business requirements and decipher those elements into fully-realized business processes. Also, they come up with solutions that achieve industry best practices. Further, they must be able to implement and configure applications to satisfy business requirements.
- Candidates having a fundamental knowledge of accounting principles and financial operations of businesses, customer service, field service, manufacturing, retail, and supply chain management concepts.
- Candidates who specialize in more than one feature sets of Microsoft Dynamics 365 Finance, including finance, manufacturing, and supply chain management.
One must have a clear idea of prior knowledge and experience he/she must possess. For Microsoft Exam MB-310
- A candidate must have knowledge of basic accounting principles and practices.
Basic Exam Details
The exam comprises 40-60 questions that must be completed within 120 minutes. Speaking of the exam pattern, here is a list of few types of Microsoft MB-310 Exam Questions you may encounter-
- Scenario-based single answer question
- Multiple-choice questions
- Arrange in the correct sequence type questions
- Drag & drop questions
- One case study with 5 questions
However, the exam is only available in the English language. As far as the registration fee is concerned it’s USD 165 without taxes. And, in case of passing score, one requires 700 or more.
How to Schedule the exam?
The Microsoft Dynamics 365 Finance (MB-310) exam has been built to measure your ability to understand the basic of cloud concepts, understanding core Azure services; security, privacy, compliance, and trust; as well as Azure pricing and support.
- For Non-Students interested in Technology
- For Students or Instructors
Now, that we have acquired all the information related to Microsoft Dynamics 365 Finance (MB-310). It’s time for you to understand the Course Outline. The Course Outline forms the most crucial aspect of the examination. So, let’s begin.
Course Outline: MB-310 Exam
The Course Outline is a deciding factor, whether you’ll qualify the exam or not. So, make sure not to take it lightly. Now, focus, what we have to say next. This is the ultimate GAME-CHANGER. Yes, you heard us right. The stakes are high here. You have to make sure that every tiny section or module present here is on your fingertips.
The Course Outline for MB-310 was updated on October 16, 2020. The MB-310 Exam Topics are:
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 (Microsoft Documentation: Configure chart of accounts in Dynamics 365 Finance )
- describe use cases for main accounts categories, ledger account aliases, and balance control accounts
- configure financial dimensions and dimension sets (Microsoft Documentation: Financial dimensions )
- configure legal entity overrides for financial dimensions and main accounts (Microsoft Documentation: Legal entity overrides )
- create and configure account structures and advanced rules (Microsoft Documentation: )
Configure ledgers and currencies
- construct fiscal calendars, years, and periods (Microsoft Documentation: Fiscal calendars, fiscal years, and periods )
- Configure the ledger (Microsoft Documentation: Configure and use the general ledger in Dynamics 365 Finance )
- describe and configure batch transfer rules
- set up currencies and conversions for a legal entity (Microsoft Documentation: Prepare a legal entity for a currency conversion )
- manually enter currency exchange rates (Microsoft Documentation: Create exchange rate providers )
- configure currency exchange rate providers (Microsoft Documentation: Create exchange rate providers )
Implement and manage journals
- describe options for implementing voucher numbers in journals (Microsoft Documentation: Create a journal entry using a template )
- configure journal names (Microsoft Documentation: Configure ledgers and journals in Dynamics 365 Finance)
- set up journal controls and posting restriction rules (Microsoft Documentation: :Set up posting restrictions )
- describe and configure journal approvals
- create voucher templates (Microsoft Documentation: :Create a journal entry using a template)
- describe use cases for periodic journals (Microsoft Documentation: Post Periodic journals )
- configure and apply accrual schemes (Microsoft Documentation: Create accrual schemes )
- set up intercompany accounting (Microsoft Documentation: Intercompany accounting setup )
Implement and manage cash and bank
- create and maintain bank groups and bank accounts (Microsoft Documentation: Cash and bank management )
- describe and configure electronic payment formats (Microsoft Documentation: Electronic reporting (ER) overview )
- configure and process bank reconciliations including advanced bank reconciliations (Microsoft Documentation: Set up the advanced bank reconciliation import process)
- configure cash flow reports (Microsoft Documentation: Configuration)
Implement cost accounting and cost management
- describe cost accounting processes and terms (Microsoft Documentation: Get started with cost accounting in Dynamics 365 Finance)
- configure cost accounting processes (Microsoft Documentation: Cost accounting terminology )
- create a cost accounting report by using the Cost Accounting Report wizard (Microsoft Documentation: Cost accounting)
- describe and configure the costing sheet and indirect costs (Microsoft Documentation: Cost classification )
- configure cost objects and cost groups (Microsoft Documentation: Cost classification )
- implement inventory costing versions (Microsoft Documentation: Costing versions overview)
- differentiate between inventory costing methodologies
- configure item groups and posting profiles
- perform inventory closing and adjustment processes (Microsoft Documentation: Inventory close )
Perform periodic processes
- configure a financial period workspace and closing schedule (Microsoft Documentation: Financial period close workspace)
- define and demonstrate periodic closing processes and end-of-year processes (Microsoft Documentation:Year-end close )
- perform financial consolidation and elimination processes (Microsoft Documentation: Consolidation and elimination)
- configure allocation terms for a main account (Microsoft Documentation: Accounting distributions)
- create and process ledger allocation rules (Microsoft Documentation: Components of ledger allocation rules )
- implement foreign currency revaluation processes (Microsoft Documentation:Process foreign currency revaluation )
- 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 (Microsoft Documentation: Configure and perform periodic processes in Dynamics 365 Finance )
Implement and manage accounts payable and expenses (10-15%)
Implement and manage Accounts payable
- configure invoice validation policies (Microsoft Documentation: Set up vendor invoice policies)
- set up vendor posting profiles
- process orders, invoices, and payments
- configure the Vendor Collaboration module (Microsoft Documentation: Set up and maintain vendor collaboration)
- configure vendor payments including positive pay and payment calendars (Microsoft Documentation: Vendor payment overview)
- configure accounts payable charges (Microsoft Documentation: Configure Accounts payable in Dynamics 365 Finance)
Configure and use expense management
- configure expense management including categories, per diem options, mileage, expenses, and personal expenses (Microsoft Documentation: Expense management overview)
- configure workflows for expense management (Microsoft Documentation: BBudget planning workflows stages )
- describe use cases for expense management policies and the Audit workbench (Microsoft Documentation: Expense management )
- describe and configure credit card processing
- manage expense reports (Microsoft Documentation: Expense report entry )
Implement accounts receivable, credit, collections, and revenue recognition (20-25%)
Implement and manage accounts receivable
- set up customer posting profiles (Microsoft Documentation: Customer posting profiles)
- configure and process free text invoices, process orders, invoices, and payments(Microsoft Documentation: Key tasks: Free text invoices)
- configure customer payment setup (Microsoft Documentation: Establish customer method of payment)
- configure accounts receivable charges (Microsoft Documentation: Configure accounts receivable in Dynamics 365 Finance )
Manage credit and collections
- configure credit management processes
- configure collections management processes
- manage delinquent customers (Microsoft Documentation: Documentation: Process credit and collections in Dynamics 365 Finance )
- prepare and send customer account statements (Microsoft Documentation: Send customer account statements by using email )
- 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 (Microsoft Documentation: Revenue recognition overview)
- implement revenue schedules (Microsoft Documentation: Revenue recognition )
- enter and process revenue recognition transactions
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 (Microsoft Documentation: )
- create a budget plan including scenarios, stages, allocation stages, stage allocations, and templates (Microsoft Documentation: Create budget plan worksheet templates by using a wizard )
- define a budget planning process and plan a budget(Microsoft Documentation: Budget planning )
- configure budget controls including cycle time spans, budget parameters, budget fund (Microsoft Documentation: Budget control )
- availability options, budget control rules and groups, and over-budget permissions
- create and configure registry entries (Microsoft Documentation: Registry Scripting)
- implement budget workflows (Microsoft Documentation: Budget planning workflows stages )
- perform budget checks on documents and journals
Implement and manage fixed assets
- create fixed assets and fixed assets groups (Microsoft Documentation: Set up fixed asset groups )
- configure fixed asset parameters (Microsoft Documentation: Set up Fixed assets parameters)
- describe and configure fixed asset books and depreciation (Microsoft Documentation: Fixed asset )
- enable integration with purchasing, projects, and free text invoices (Microsoft Documentation: Purchase and set up Dynamics 365 Marketing )
- acquire, depreciate, and dispose of fixed assets (Microsoft Documentation: Depreciation book upgrade overview )
- create fixed asset budgets and transfer the budgets to the budgeting module (Microsoft Documentation: )
- estimate and perform an elimination of a project to a fixed asset (Microsoft Documentation: )
While preparing for Microsoft Dynamics 365 Finance (MB-310) exam you will be solely responsible for understanding and complying with Microsoft Certification exam policies, together with the specified exam delivery provider’s policies and procedures.
Also, you can go through the Exam Retake Policy together with other Microsoft exam available and exam testing procedures. The exam policy page provides details of the exam provider’s policies and procedures together with the exam provider’s details. Note, you will have 30 days after taking an exam to challenge your exam score for that exam.
For more queries, visit the Microsoft MB-310 Page
A step by step Preparation Guide to qualify MB-310 exam
It would take more than a single article to go over every aspect of studying for a certification exam. This subject could fill a small book and not a very exciting one at that. There are some key truisms and must-do’s, however, which every candidate should be aware of when it comes to Microsoft Certification MB 310 exam preparation.
Now that we have cleared the air, let’s talk straight into it with our MB-310 Study Guide
STEP 1: Review all the MB-310 Exam Info
Take it from the experts over here, while preparing for certification exams, make sure that you don’t jam your head with too many questions. Too many questions will definitely lead to anxiety and believe us when we say, anxiety is one thing you don’t want. To begin with, clear your head first. Next step is to deeply understand and analyse all the exam information provided above. Make sure that all the info is up to date. Review and keep note if there may have been some changes in the exam objectives or not. This step will make sure that you’re overdoing or forgetting something, that may somehow lead to anxiety on the exam day.
So, make sure that you’re on the same page as the certification vendor, so that there is no gap of confusion between the two.
STEP 2: Thoroughly go through the Course Outline
Now that you’ve reviewed the exam details regarding the exam. It’s time to make sure that you are up to date with the Course Outline. As mentioned earlier, the Course Outline is the most crucial part of the examination. Since this forms the syllabus of the examination. And, obviously, all the questions originate from this particular domain list. Therefore, it’s your responsibility to go to the Official site of Microsoft and check it on your own. Make sure to be an empiricist, and view and experience knowledge on your own. In case, you’re unable to locate the list of domains.
STEP 3: Finding all the RIGHT Learning Resources
We cannot stress enough that only finding the right learning resources will allow you to understand each and every domain properly. And, you’re well aware of the fact that the internet is clustered with so many different resources, training programs and exam dumps. We highly recommend not to follow exam dumps. So, hold your horses there and then. Since you have landed here, we just wanna make sure here that you’re in the safe hands. We are going to shed some light on where to get all the right learning resources to follow. Not only will this provide you with a stranger base that will help you qualify, but also this will provide you with that confidence among your peers. So, without a further adieu let’s get started.
STEP 3.1: MICROSOFT Training Programs
If this is your first time with a certification exam, let’s get you familiar with Microsoft Training Programs. When it comes to training programs, Microsoft has two ways to prepare. The first is the free online training and the second is the paid Instructor-led Training. It’s totally a subjective approach to choose either one or both of these learning resources. To provide you with a clear view, let’s just view them separately.
STEP 3.2: FREE-Online Learning Paths
These are the free preparatory learning paths that Microsoft has to offer to candidates like you. These are a great way to prepare yourself for the MB-310 certification exam. Here you’ll find 7 modules. Each of these discusses important sections of the exam. Not to mention, they also have questions at the end of each module. If you’re an avid learner, then you must also check out the Instructor-led Training.
STEP 3.3: Instructor-led Training
We’re just going to say it out loud, that when it comes to Instructor-led Training, Microsoft has definitely hit the ground running. This is not just a rumour, but a fact that Microsoft Instructor-led Training is a gold standard in the industry. In case, you’re amped up by the high standards, wait till you hear the benefits you’ll enjoy. Further, instructor-led training has a facility to have on-demand classroom training. So, if you’re juggling so many chores and fear you might skip one, then this will allow you to arrange classes according to your convenience. Both of these MB-310 Training and learning paths can be easily located on the Microsoft Portal. So, make sure to check them out.
STEP 3.4: BOOKS: Studying the traditional way!
Fro the very beginning of your study life cycle, BOOKS have always been around. So, did you think books won’t help here? Of course, they do, they are the most beneficial learning resource here too. Here are our selected picks, that have helped many before you, so do check them out.
- Using Microsoft Dynamics 365 for Finance and Operations: Learn and understand the functionality of Microsoft’s enterprise solution by Andreas Luszczak
- Implementing Microsoft Dynamics 365 for Finance and Operations Apps by JJ Yadav, Sandeep Shukla
- Implementing Microsoft Dynamics 365 for Finance and Operations: Implement methodology, integration, data migration, and more by Rahul Mohta, Yogesh Kasat, JJ Yadav
STEP 4: Online Courses
If a candidate wishes to join an Online Course for the same. There are various courses available online. In fact, the internet is cluttered with so many courses. While choosing the right online course for your preparation, make sure to view all the objectives of the course. Is it in your price range or not? Is it feasible for you? And, if possible try to take a trial session before hitting that buy button. All these factors will allow you to choose the right fit according to your needs. These courses provide you with the online video study material that can get digested easily. Also, they even provide the candidate with sample papers. So, you can try them out.
STEP 5: Join the Community/ Online Forum
Online forums and study groups are a great way to prepare for the certification exam. Therefore, feel free to get in touch with other candidates through study forums or online groups to ask a question related to the topic you’re having difficulty with.
However, it’s not something you have to join. It’s just something very subjective. Not to mention, these online groups help you stay equated with the other people who are also walking through the same path as yours. Moreover, you can also ask a question related to the topic you’re having difficulty with.
STEP 6: Self-evaluation Time
Finally, we’re on the last step for the preparatory guide. Further, this final step will give the candidate the exact insight of the topics in which they’re lacking. So, make sure you’re going through sample tests after you have gone through the entire syllabus. Most importantly, all the practice tests are designed to encounter the real exam environment around you. However, practice papers can be from various sources. Above all, remember the more you test yourself the better you’re going to become. SO START PRACTICING NOW with MB-310 PRACTICE TEST!
Catapult your career with advanced learning skills and expert tutorials on Microsoft MB-310 Exam. Prepare and become a Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate!