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| Certification Vendor: | Microsoft |
|---|---|
| Exam Name: | Microsoft Dynamics 365 Finance Functional Consultant |
| Exam Number: | MB-310 |
| Certificate Validity Period: | Valid indefinitely; requires annual renewal via free online assessment |
| Exam Duration: | 100 minutes |
| Exam Format: | Multiple choice, Scenario-based questions, Interactive items |
| Exam Price: | $165 USD |
| Available Languages: | Japanese, English |
| Real Exam Qty: | 40–60 |
| Related Certifications: | Microsoft Certified: Dynamics 365 Finance and Operations Apps Solution Architect Expert Microsoft Certified: Dynamics 365 Functional Consultant Associate |
| Passing Score: | 700 out of 1000 |
| Recommended Training: | Microsoft Learn Learning Paths Official Instructor-Led Course |
| Exam Registration: | Microsoft Learn Registration Pearson VUE Scheduling |
| Sample Questions: | Microsoft MB-310 Sample Questions |
| Exam Way: | Online proctored or onsite at Pearson VUE test centers |
| Pre Condition: | No mandatory prerequisites; recommended experience with accounting principles and Dynamics 365 Finance |
| Official Syllabus URL: | https://learn.microsoft.com/en-us/credentials/certifications/resources/study-guides/mb-310 |
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Microsoft MB-310 certification exam covers a wide range of topics, including financial management, accounts payable and receivable, budgeting, and cost accounting. MB-310 exam consists of multiple-choice questions, and candidates have three hours to complete it. To pass the exam, candidates need to score at least 700 out of 1000 points. Microsoft recommends that candidates have hands-on experience with Dynamics 365 Finance before taking the exam.
Microsoft MB-310 exam is a multiple-choice exam that is conducted online. The test is timed, and candidates are required to complete it within the time limit. MB-310 exam is designed to be challenging, and candidates need to prepare thoroughly to pass it. Microsoft provides study materials and resources to help candidates prepare for the exam. Additionally, there are many third-party training providers that offer courses and study materials to help candidates prepare for the exam.
Earning the MB-310 Certification demonstrates a professional's expertise in implementing and supporting Finance and Accounting applications using Microsoft Dynamics 365 Finance. It also validates the professional's skills in configuring and customizing the Finance and Accounting modules to meet the specific needs of an organization. Microsoft Dynamics 365 Finance Functional Consultant certification is globally recognized and can help professionals advance their career in the field of Finance and Accounting.
NEW QUESTION # 133
Case Study 6 - Tailspin Toys
Background
Tailspin Toys is a toy manufacturing company that sells to distributors and customers through a business-to-consumer website. Tailspin Toys has been using custom-developed software for their accounting and supply chain management needs.
Tailspin Toys has toy factories in Mexico and Canada, with a head office based out of the United States. Tailspin Toys is currently operating with various financial departments including accounts payable, accounts receivable, fixed assets, and general accounting. The company has multiple legal entities to support their manufacturing units and selling organization.
Tailspin Toys wants to maintain consistent growth as a company and is now implementing Dynamics 365 Finance for all business processes.
Current environment
Vendors
- Tailspin Toys works with local and foreign vendors.
- The procurement process is designed for manufacturing raw materials, finished products, and packing materials for toys.
- The company monitors vendor balances by local and foreign vendors, both appearing in different general ledger accounts.
- For vendor payments, the accounts payable manager generates payment proposals every Wednesday, to have approvals and check printing done by Thursday in order to mail the checks by Friday of each week.
- Vendors can take part in the incentive program that offers travel vouchers and other gifts based on quantity and quality of supplies at the end of the year.
- Incentive program data is being monitored outside of the system and qualifying vendors are then provided to the financial department for expenses.
- The finance department accrues a small percentage of every vendor invoice during the year for this purpose, booking accounts payable liability account offsetting to the incentive expenses account.
- The finance department accrual then allows management to easily make decisions regarding types of gifts and vouchers to provide to the top-performing vendors.
Reporting
- Management gets periodic reports from the finance department for all the legal entities. These reports provide all required finance data and are comprised of balance sheets, income statements, and cash flow statements.
Budget planning
- The finance department oversees all budget planning.
- The finance department estimates the baseline for all budgets and distributes them to the respective departments.
- Each department estimates and forecasts their budget and sends it back to the finance department where the budget is updated accordingly.
Expenses
Utility bills for the toy factories are currently getting expensed to the following departments as per the listed breakdown.
Asset leasing
Tailspin Toys has leased assets in the form of factory buildings and warehouses. The company maintains asset books for the monthly leasing payments and pays compound interest on them.
Tailspin Toys maintains future forecasts of their payment projections and budget requirements for leasing payments.
Requirements
Consolidation
- Automatic foreign currency consolidation at the corporate level is required by Tailspin Toys' leadership.
- Consolidated results are needed in multiple reporting currencies.
Expenses
- Utility bills must be allocated to allow each department to expense the correct amount.
Reports
- Leadership requires financial reports to come to their inbox automatically as one at the end of every month.
Vendors
- The system must show accounts payable liability by type of vendor similar to how it works in the current system.
- The chief financial officer (CFO) wants to configure the system to follow their business policies of paying vendors every Friday and as per credit issued by vendors and agreed method of payments.
- The accounts payable administrator must automate the vendor invoice process for imported invoices to bypass the review stage when no discrepancy is determined.
Budgets
- A new organizational hierarchy is required for budget planning purposes.
- Leadership wants financial budgets enforced by alerting users upon reaching 90% of the total budget.
Asset leasing
- The CFO must automatically process payments and journal entries for the leased properties.
- Management must view payment forecasts based on leased assets.
Issues
Accounts payable issues
- Vendor liability information for local and foreign vendors is not separated in the system.
- The accounts payable manager observed that a percentage of each invoice paid to vendors is not being posted for the yearly incentives program.
- The accounts payable clerk had to manually invoice a vendor receipt during user acceptance testing.
- The accounts payable manager must automate the current process of vendor payment proposals.
Other issues
- The differences resulting from consolidating subsidiaries with foreign currencies are not considered.
- User A confirmed they did not receive an alert before running out of their budget.
- Expense reports for the manufacturing and sales departments do not contain utility bill expenses.
- The accounting manager reported that there is no batch journal created for the monthly lease expenses.
Hotspot Question
You need to configure vendor payments for Tailspin Toys.
How should you complete the configuration? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 134
You need to configure the system to meet the budget preparation requirements.
What should you do? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
Topic 4, Adtum Corp.
Case Study
This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case. However, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.
To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.
At the end of this case study, a review screen will appear. This screen allows you to review your answers and to make changes before you move to the next section of the exam. After you begin a new section, you cannot return to this section.
To start the case study
To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question.
Travel and expense
The company is currently In Phase 2 of their Dynamics 365 finance Implementation.
* Consultants submit all travel receipts by using inter-office mail to the team admin for processing, but first Up Consultants wants to modernise this experience.
* Expense reports are manually approved and signed by the employee's manager.
Finance
* First Up Consultants operates on a 4-5-4 calendar.
* Accounting, for revenue has been difficult with the SaaS offerings. This has led to implementing Dynamics
365 Finance Revenue recognition.
* Revenue recognition has been live for J months.
* Adatum Corporation pays Quarterly for use of the First Up Consultants web design application, starting from the day of use
* Fourth Coffee pays monthly for use of the First Up Consultants photograph editing application, with a contract starting August I and payment starting September I.
* Adventure Works Cycles pays per use of the First Up Consultant video platform.
* A blocking rule is set up to prevent a sales order from processing if a customer exceeds a credit limit. - Customer credit is set up at the account level for VanArsdel, Ltd.
* Tailspin Toys is owned by Wingtip Toys. The companies have a credit limit of S60.000 and $100,000, respectively.
Tax
VAT tax recovery is required for eligible international business trip expenses. Bank reconciliation is manual and performed by using monthly mailed account statements. The company collects vales taxes from the following states:
Requirements
Travel and expense
* First Up Consultants requires that employees start using corporate cards for all travel expenses.
* All expenses over the require a receipt.
* Beer cannot be expensed
* Employees may use the corporate card for personal expenses during work travel, but expenses must be categories correctly.
* Client entertainment expenses totaling more than $250 must be audited.
* Employees require a mobile expense experience
* Expense report entries must be validated when a transaction Iine is entered.
* Employees require the ability to capture receipt* by using a mobile device.
* First Up Consultants requires the ability to reimburse employees in their paychecks for expenses incurred on personal cards.
Financial
* A virtual thirteenth month is required for year-end transactions.
* Each day. a validation file must go to First Up Consultants" bank detailing all vendor checks paid.
* Except fees, all matched transactions must clear automatically during bank reconciliation.
* The accounts payable team must verify expense reports prior to posting.
* Only payables are allowed to be posted to a poor period up to seven days into the new period Issues
* User1 Installed the expense Management Service add-in and implemented the auto-match and create expense from receipt features, but the receipt images do not match the corporate card transactions
* Employee 1 submits an expense report for a business trip to Europe, but the report is not visible on the expense tax recovery page.
* Employees prowled feedback that the system lets them know of an expense report policy violation only after the entire expense report is submitted.
* Members of the finance department observe sales orders that posted into a closed period.
* The finance team observed that for sales order invoice 1234. the price incorrectly posts to a revenue account when it should be deferring.
* Fmployee2 purchased supplies for a holiday patty and needs to be reimbursed
* A customer orders software licenses for the offices in Tennessee and Alabama
* Expense reports for unapproved items are posting.
* VanArsdel. Ltd. exceeded its credit limit but the sales order was processed.
* Tailspin Toys purchase $70,000 in custom software development
NEW QUESTION # 135
You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.
You need to assign the Vendor (external) role to this vendor.
Which tasks can this vendor perform?
Answer: B
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain- vendor-collaboration
NEW QUESTION # 136
You manage customer credit and collections in a Dynamics 365 Finance implementation.
At the beginning of each month, you must send collection letters to customers whose payments are overdue.
You need to configure the collection letter functionality.
Which four actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
1 - Define the collection letter sequence.
2 - Link the collection letter sequence to...
3 - Post the collection letter.
4 - Generate the collection letter.
NEW QUESTION # 137
SIMULATION
You are a functional consultant for a legal entity named Contoso Group (GLCO).
You plan to sell new products that will increase in quality over time.
You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
See explanation below
Explanation:
You need to configure an Inventory Model Group for the new products.
For inventory model groups, navigate to Inventory management | Setup | Inventory | Item model groups.
Click "New" to create a new inventory model group.
In the "Cost method and cost recognition" section, configure the "Inventory Model" setting to Last in, First out (LIFO).
Click "Save" to save the inventory model group.
NEW QUESTION # 138
......
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