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| Certification Vendor: | Microsoft |
|---|---|
| Exam Name: | Microsoft Dynamics 365 Finance Functional Consultant |
| Exam Number: | MB-310 |
| Exam Duration: | 120-150 |
| Certificate Validity Period: | 1 year (renewable via Microsoft certification renewal assessment) |
| Available Languages: | Japanese, French, German, English, Spanish (varies by region availability), Simplified Chinese |
| Related Certifications: | Microsoft Certified: Dynamics 365 Finance and Operations Apps Solution Architect Expert Microsoft Dynamics 365 Finance Functional Consultant Associate |
| Exam Format: | Best answer, Case study, Multiple choice, Scenario-based questions |
| Exam Price: | USD 165 (varies by country/region) |
| Passing Score: | 700/1000 |
| Recommended Training: | Dynamics 365 Finance Documentation Microsoft Learn MB-310 Learning Path |
| Exam Registration: | Official Microsoft Certification Page Pearson VUE Exam Registration |
| Sample Questions: | Microsoft MB-310 Sample Questions |
| Exam Way: | Online proctored or in-person test center (Pearson VUE) |
| Pre Condition: | No mandatory prerequisites. Recommended: experience with Microsoft Dynamics 365 Finance and knowledge of core accounting principles. |
| Official Syllabus URL: | https://learn.microsoft.com/en-us/credentials/certifications/dynamics-365-finance-functional-consultant-associate/ |
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Microsoft MB-310 certification exam is a popular choice for individuals seeking to become a Microsoft Dynamics 365 Finance Functional Consultant. Microsoft Dynamics 365 Finance Functional Consultant certification validates the candidateโs knowledge and understanding of financial management concepts, including general ledger, accounts payable and receivable, budgeting, and financial reporting. MB-310 Exam also covers the configuration and management of financial modules within Microsoft Dynamics 365 Finance.
NEW QUESTION # 237
A company is implementing Microsoft Dynamics 355 -Finance. The company plans to Implement the fixed asset module. You have the full awing requirements:
* Post transactions to the tax depreciation hook at the same interval as the primary book.
* Tax transactions must be journalized without being recorded in the general ledger.
You need to configure the 'wet! asset books.
Which conjuration option should you use? To , drag the appropriate urn figurations to the correct requirement.
Each configuration may be used once, more than once, more not at all You may need to drag the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
NEW QUESTION # 238
You need to identify the root cause for the error that User5 is experiencing.
What should you check?
Answer: C
Explanation:
Topic 3, Alpine Ski House
Overview
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.
Background
Alpine Ski House has three partially owned franchises and 10 fully owned resorts throughout the United States and Canada. Alpine Ski House's percentage ownership of the franchises is between two and 10 percent.
Alpine Ski House is undergoing an implementation of Dynamics 365 Finance and Dynamics 365 Supply Chain Management to transform their financial management and logistics capabilities across the franchises. Implementation is complete for Alpine Ski House's corporate offices, two US franchises, and one Canadian franchise. The remaining franchises are in varying stages of the implementation. Two new resort projects are in the budget planning stages and will open in the next fiscal year.
Current environment
Organization and general ledger
Each franchise is set up as a legal entity in Dynamics 365 Finance.
Alpine Ski House Corporate uses financial dimensions for their fully owned resorts.
Each resort is a financial dimension named resort.
Each fully owned resort has two divisions: marketing and operations.
Only Profit and Loss account postings require the division dimension.
Corporate handles the advertising and administration of the fully owned resorts.
Corporate uses Dynamics 365 Project Management and Accounting to manage construction of new resorts.
Budgeting
Organizational budgeting is decentralized but rolls up to one organizational corporate budget.
Each resort manager performs budgeting in Dynamics 365 Finance.
Budget preparation begins this month. All operational resorts will submit their budgets in two weeks.
Sales and tax
Sales tax is configured and used by all resorts that operate in the United States.
You configure one US sales tax vendor account and assign the vendor account to the settlement periods for reporting.
You use accounts receivable charges to track donations.
Existing purchasing contracts
Each franchise resort has an individual contract with a local supplier of their choosing to purchase at least $10,000 worth of suppliers during the calendar year.
The franchise resorts in one US state receive a two percent discount on meat and vegetable purchases in excess of $8,000 per year.
A franchise resort in Utah has agreed to purchase 1,000 units of beef at market price from a local supplier.
Alpine Ski House uses a vendor collaboration portal to track purchase orders and requests for quotes.
Intercompany setup
Requirements
Franchises
Each franchise must pay two percent of monthly sales to Alpine Ski House Corporate.
Each franchise must report their own financials to Alpine Ski House Corporate monthly.
US franchises require a three-way-match on all purchases, with a 1-percent price tolerance.
Canadian franchises require a three-way-match on all purchases except paper products, which have a 10-percent price tolerance.
Corporate
Advertising costs must be balanced across the 10 resorts monthly. These costs must be split across the 12 resorts once construction of the final two resorts is completed.
Administration costs must be split across the 10 resorts proportional to the amount of sales generated.
One percent of all pack and individual ski pass sales must be donated quarterly to an environmental protection organization.
The finance department must be able to see purchasing contracts and discounts for vendors based on volume spend.
Employees
All employee expense reports that contain the word entertainment must be reviewed for the audit purposes. If a journal is posted incorrectly, the entire journal and not just the incorrect line must be fully reversed for audit purposes.
Resorts
All resorts must use Dynamics 365 Finance for budgeting and must first be approved by the regional manager. Purchased fixed assets must automatically be acquired at product receipt.
Issues
User1 reports that irrelevant dimensions display in the drop down when entering a General journal.
User2 reports that dimension 00 is being used for all balance sheet accounts.
User3 tries to generate the quarterly sales tax liability payment for a specific state but does not see any payables available for that state's vendor.
User4 receives a call from a vendor who cannot access the vendor collaboration portal but needs immediate access.
User5 notices a large amount of entertainment expenses being posted without an audit review.
User6 needs to have visibility into the increase in budget that is necessary to staff the two new resorts opening next year.
User7 needs to use Dynamics 365 Finance for situational budgeting planning with the ability to increase and decrease the existing plans by certain percentages.
User8 made a mistake while posting a 1,000-line journal and reverses the entire journal but cannot find the lines that included errors during the reversal.
User9 made a mistake while posting a 55-line journal and reverses the entire journal.
User10 realizes that the purchase of five new computers did not acquire five new fixed assets upon receipt.
NEW QUESTION # 239
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
A customer uses Dynamics 365 Finance. The customer creates a purchase order for purchase $20,000 of office furniture.
You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.
Solution: Configure item posting groups for purchase requisitions.
Does the solution meet the goal?
Answer: B
Explanation:
Explanation
NEW QUESTION # 240
You need to resolve the issue related to monthly lease expenses.
How should you configure asset leasing? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
To resolve the issue related to monthly lease expenses in Dynamics 365 Finance, you should configure the asset leasing settings as follows:
* Requirement: Confirm payment schedules.Configuration: Confirm schedules in a batch.This option ensures that the payment schedules for all leases are confirmed at once, simplifying the process of managing multiple leases.
* Requirement: Create journal entries.Configuration: Set up batch processing to create journal entries.
This setting automates the creation of journal entries for lease payments, which is essential for handling monthly lease expenses consistently.
* Confirm Payment Schedules in a Batch:
* Go to Asset leasing > Periodic tasks > Confirm lease payment schedules.
* Select Batch processing to confirm schedules for all leases at once. This option streamlines the confirmation process, ensuring that all lease payment schedules are up-to-date.
Reference: Microsoft documentation on batch processing for lease payment confirmations in Dynamics 365 Finance.
Set Up Batch Processing for Journal Entries:
Navigate to Asset leasing > Lease transactions > Create journal entries.
Choose Set up batch processing to automatically generate journal entries for lease payments. This process enables consistent tracking of monthly lease expenses and aligns with standard accounting practices for asset leasing.
Reference: Dynamics 365 Finance documentation on automating lease journal entries with batch processing.
By configuring these options, you ensure that payment schedules and journal entries are managed effectively through batch processing, which is critical for managing monthly lease expenses in Dynamics 365 Finance.
Topic 7, Adventure Works Cycles
Background
Adventure Works Cycles is a North American-based company that sells and fixes bicycles. The company is modernizing its business processes by implementing Dynamics 365 Finance.
The company recently expanded its business into bicycle leasing. The leasing business is expanding into Canada due to high demand.
Adventure Works Cycles has one legal entity, two cost centers, and three divisions within each cost center.
The company also has a centralized budgeting process to the lowest level.
The operating currency of the legal entity is the US dollar (USD).
Adventure Works Cycles operates on a 4-5-4 calendar, which is used to make sure that the sales are evenly distributed across all months, including weekends.
Current Environment
* Adventure Works Cycles tracks its international vendors in a separate payable account from its domestic vendors.
* Only bicycle frame inventory is configured with a separate item model group that requires registration.
* A thirteenth month is required for year-end transactions.
* Only members from the accounts payable team are able to post transactions to a prior period after the period is closed to the company.
* Fourth Coffee is a Canadian-based coffee chain whose operating currency is the Canadian dollar (CAD).
Fourth Coffee entered into a lease agreement for 150 branded bicycles totaling CAD75,000.
* Adventure Works Cycles frequently receives invoices in foreign currencies.
Requirements
* Three-way matching is required only on competition bicycles priced over USD3,000 that are purchased from Fabrikam, Inc., in Europe.
* Domestic customers and international customers must be managed in the following ways:
o Domestic customer receivables must post to account 1200.
o International customer receivables must post to account 1201.
o Domestic customers must have a payment term of net 30.
o International customers must have a payment term of net 15.
o Domestic customer revenue must post to account 4000.
o International customer revenue must post to account 4001.
* Adventure Works Cycles must be able to use the cash flow forecasting capability in Finance.
* The system must enable tracking and charging interest for customer accounts that are not current.
* Automatic charges must be configured on vendor invoices for bicycle tires. The cost must be added to each item on the vendor invoice.
* Adventure Works Cycles must be able to terminate leases for bicycles at any time.
* Adventure Works Cycles must be able to closely track its budget by enforcing the budget at the cost center level.
* The system must run Vendor aging reports by listing the transactions that are included in the reports ' balance, unsettled payments, and aging period descriptions.
Issues
* The accounts payable clerk processes an invoice for bicycle frames and a partial invoice for helmets. The clerk observes that the quantities on the vendor invoices are incorrect. The invoices require the correct line quantity selections so that the invoices process accurately.
* The accounts payable clerk processes an invoice and observes that the product receipt quantity match for bicycle seat posts ordered from Fabrikam, Inc., is blank. However, the invoice passes validation.
* The accounts payable manager observes that a sales order is posted to the prior period that is closed.
* During foreign currency revaluation of the Accounts payable subledger, posting occurred only if the result was a loss.
* On a vendor invoice for bicycle tires, the automatic charge is charged as an expense.
* Due to a breach of contract, a member of the finance team needs to terminate a bicycle lease. However, the Termination proposal button is unavailable.
* The accounts payable clerk is unable to review payments that have not been settled on the Vendor aging report.
NEW QUESTION # 241
A client wants to use Dynamics 365 Finance invoice validation functionality.
You need to recommend the invoice validation functionality that meets their requirements.
Which functionality should you recommend for each requirement? To answer, drag the appropriate functionality to the correct requirement. Each functionality may be used once, more than once, or not at all.
You may need to drag the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/tasks/set-up-accounts-payable- invoice-matching-validation
NEW QUESTION # 242
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