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 knowledge of analyzing business requirements and translating 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 know basic accounting principles and practices.

Course Outline

The Microsoft Dynamics 365 (MB-310 )exam covers the latest topics as per the exam updates on March 29, 2024 - 

Domain 1 - Understanding to set up and configure financial management (40–45%)

1.1 Explain and configure the chart of accounts

• Learn to explain use cases for financial dimensions
• Learn to define and configure the chart of accounts and main accounts
• Learn about use cases for main accounts categories, ledger account aliases, and balance control accounts
• Learn to configure financial dimensions and dimension sets
• Learn to configure legal entity overrides for financial dimensions and main accounts
• Learn to build and configure account structures and advanced rules
• Learn to configure financial tags
• Learn to configure derived dimensions and financial dimension default templates
• Learn to configure accounts for automatic transactions

1.2 Explain and configure ledgers and currencies

• Learn to configure and manage fiscal calendars, years, and periods
• Learn to configure the ledger
• Learn to describe and configure batch transfer rules
• Learn to set up currencies and conversions for a legal entity
• Learn to configure currency exchange types and rates

1.3 Explain how to implement and manage journals

• Learn about the options for implementing voucher numbers in journals
• Learn to Configure journal names
• Learn to set up journal controls and posting restriction rules
• Learn to configure journal workflow approvals
• Learn to create voucher templates
• Learn about use cases for periodic journals and deferrals
• Learn to configure and apply accrual schemes
• Learn to set up intercompany accounting
• Learn to create templates to edit journals in Microsoft Excel
• Learn to perform reversing entries

1.4 Explain how to implement and manage cash and bank

• Learn to create and maintain bank groups and bank accounts
• Learn about electronic payment formats
• Learn to configure and process bank reconciliations including advanced bank reconciliations
• Learn to configure the cash flow forecast setup
• Learn to configure the cash flow automation setup
• Learn to enable and configure summarized bank transactions for vendor and customer payments

1.5 Explain and implement cost accounting and cost management

• Learn about cost accounting processes and terms
• Learn to configure the costing sheet including indirect costs
• Learn to configure cost groups
• Learn to implement inventory costing versions
• Learn to differentiate between inventory costing methodologies
• Learn to configure Item model groups
• Learn to configure item groups and inventory posting profiles
• Learn to perform inventory closing and adjustment processes
• Learn to configure cost categories
• Learn to set up inventory value reports

1.6 Explain and perform periodic processes

• Learn to define and demonstrate periodic closing processes and end-of-year processes
• Learn to perform financial consolidation and elimination processes
• Learn about use cases and options for performing allocations
• Learn to implement foreign currency revaluation processes
• Learn to create and manage financial reports including modifying row, column, report definitions, and reporting tree

1.7 Explain how to configure, collect, and report taxes

• Learn to configure tax groups, tax codes, settlement periods, and jurisdiction
• Learn to configure tax ledger, posting groups
• Learn to settle and post-sales tax
• Learn to Configure withholding tax groups, tax codes, and authorities

Domain 2 - Understanding to implement accounts receivable, credit, collections, and revenue recognition (15–20%)

2.1 Explain how to implement and manage accounts receivable

• Learn to set up customers and customer groups
• Learn to configure and process free text invoices
• Learn to process sales order invoices and credit memos
• Learn to configure customer payment setup
• Learn to configure accounts receivable charges
• Learn to manage customer holds
• Learn to set up customer posting profiles
• Learn to process customer payments
• Learn to enable and configure customer change approvals
• Learn to perform foreign currency revaluation

2.2 Explain how to manage credit and collections

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

2.3 Explain how to configure revenue recognition

• Learn to configure journals and parameters for revenue recognition
• Learn to configure and implement revenue schedules
• Learn to enter and process revenue recognition transactions
• Learn to configure and use bundles

Domain 3 - Implement and manage accounts payable and expenses (15–20%)

3.1 Explain how to implement and manage accounts payable

• Learn to configure invoice validation policies and invoice matching setup
• Learn to set up vendor groups, vendors and vendor posting profiles
• Learn to process purchase order invoices and credit memos
• Learn to configure vendor payments including payment terms, method of payments, and payment calendars
• Learn to configure accounts payable charges and apply changes to an invoice
• Learn to configure bank accounts and bank account approvals for vendors
• Learn to enable and configure vendor change approvals
• Learn to perform foreign currency revaluation
• Learn to configure vendor invoices and payment automation
• Learn to process the vendor invoice journal including voyage cost

3.2 Explain how to configure and use expense management

• Learn to configure expense management including categories, per diem options, mileage expenses, intercompany expenses, and personal expenses
• Learn to configure workflows for expense management
• Learn about use cases for expense management policies and the audit workbench
• Learn to configure credit card processing
• Learn to create and manage expense reports
• Learn to configure and manage cash advance settings
• Learn to create and manage travel requisitions

Domain 3 - Understanding to manage budgeting (5–10%)

3.1 Explain and implement basic budgeting

• Learn to configure budgeting components including budget models, codes, allocation terms, and transfer rules
• Learn to create and configure budget register entries
• Learn to compare budgeted values with actual values
• Learn to implement budget register entry workflows

3.2 Explain how to configure and manage budget controls

• Learn to configure budget controls 
• Learn to perform budget checks on documents and journals
• Learn to configure budget cycle time spans
• Learn to activate or deactivate budget control configurations

3.3 Explain how to Configure and process budget plans

• Learn to define a budget planning process
• Learn to create or generate a budget plan
• Learn to configure budget planning by using scenarios, stages, allocation stages, stage allocations, and templates
• Learn to create a budget plan template
• Learn to configure and manage a budget planning workflow

Domain 4 - Understanding to manage fixed assets (10–15%)

4.1 Explain how to implement and manage fixed assets

• Learn to create fixed asset groups and other fixes asset attributes
• Learn to configure fixed asset posting profiles
• Learn to configure fixed asset parameters
• Learn to describe the fixed asset lifecycle
• Learn to configure fixed asset books
• Learn to configure depreciation profiles
• Learn to create and manage fixed asset
• Learn to manage fixed asset groups and books mapping

4.2 Explain the process fixed asset transactions

• Learn to process fixed asset disposal by using free text invoices
• Learn to process fixed asset acquisitions by using purchase orders, journals, and projects
• Learn to create fixed asset budgets and transfer the budgets to the budgeting module
• Learn to process fixed asset depreciation
• Learn to process fixed asset disposals and other transactions by using the fixed asset journal
• Learn to process fixed asset split, reclassification, and transfer

4.3 Explain how to Implement asset leasing

• Learn to configure asset leasing
• Learn to manage asset leases
• Learn to analyze asset lease reports

Exam Pattern 

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

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