Microsoft Dynamics 365 for Finance and Operations, Financials (MB-310) Practice Exam

Microsoft Dynamics 365 for Finance and Operations, Financials (MB-310) Practice Exam

The MB-310: Microsoft Dynamics 365 Finance Functional Consultant certification validates your ability to analyze business requirements and translate them into effective business processes and solutions. This exam ensures you can implement industry best practices while leveraging the features of Dynamics 365 Finance.

Candidates for this certification are expected to have a fundamental understanding of accounting principles and financial operations as they apply to:

• Core tasks within Finance and Operations apps
• Manufacturing processes
• Retail operations
• Supply chain management

Areas of Specialization

As a candidate, you are expected to demonstrate expertise in one or more of the following feature sets of Dynamics 365 Finance:

• General Ledger
• Accounts Payable
• Accounts Receivable
• Credit and Collections
• Cash and Bank Management
• Budgeting
• Fixed Assets
• Asset Leasing
• Tax Management
• Expense Management
• Subscription Billing
• Cost Accounting
• Cost Management
• Consolidation and Elimination

Who should take the exam?

The MB-310 exam is designed for functional consultants who work closely with business stakeholders and technical teams to implement financial solutions. Successful candidates can:

• Configure and manage finance modules in Dynamics 365
• Translate business requirements into scalable financial solutions
• Ensure compliance with industry regulations and accounting standards
• Optimize financial processes across multiple industries

Exam Details

• Exam Code: MB-310
• Exam Name: Microsoft Dynamics 365 Finance Functional Consultant
• Exam Languages: English, Japanese
• Time: 100 minutes
• Exam Questions: 40-60 Questions
• Passing Score: 700 or greater (On a scale 1 - 1000)

Exam Course Outline 

The Microsoft Dynamics 365 Finance Functional Consultant Exam covers the given topics  - 

1. Implementing financial management (40–45%)

Designing and configuring the chart of accounts

• Design and configure financial dimensions

• Design and configure the chart of accounts and main accounts

• Configure main accounts categories, ledger account aliases, and balance control accounts

• Configure legal entity overrides for financial dimensions and main accounts

• Configure and manage account structures and advanced rules

• Design and configure financial tags

Configure ledgers and currencies

• Configure currency exchange types and rates

• Configure a currency revaluation posting profile

• Configure accounting and reporting currencies

Implement and manage journals

• Configure journal names and vouchers

• Configure journal controls and posting restriction rules

• Implement journal approvals, including workflows

• Configure and use periodic journals

• Configure intercompany accounting

• Create templates to edit journals in Microsoft Excel

• Reverse financial transaction entries

• Configure default descriptions

• Create and use journal entries, including validation and posting manually and by using Microsoft Excel

• Configure batch processing of journals

Implement and manage cash and bank

• Create and manage bank groups and bank accounts

• Configure payment formats

• Configure bank reconciliations, including advanced bank reconciliations

• Configure the cash flow forecast setup, including automation setup

• Perform bank foreign currency revaluation

• Process manual and advanced bank reconciliations

• Configure shared payment setup for customers and vendors

• Configure and process customer and vendor netting

Perform periodic processes

• Design and configure periodic closing processes and end-of-year processes, including main accounts, reports, and templates

• Perform financial consolidation and elimination processes by using Consolidation online

• Create and manage financial reports, including modifying row, column, and report definitions, and reporting trees

• Design and configure financial period workspaces and closing schedules

• Design and configure legal entity for consolidation and elimination by using Consolidation online

• Design consolidation and elimination by using financial reports

• Configure and process ledger settlements

• Perform general ledger foreign currency revaluation

• Manage the ledger calendar

Configure, collect, and report taxes

• Configure tax groups, tax codes, settlement periods, and authorities

• Configure tax ledger posting groups

• Settle and post sales tax

• Configure withholding tax groups, tax codes, and authorities

• Calculate and adjust sales tax

Implement cost management

• Configure cost groups

• Configure inventory costing versions

• Differentiate between inventory costing methodologies

• Configure item model groups

• Configure item groups and inventory posting profiles

• Perform inventory recalculation, closing, and adjustment processes

2. Implementing accounts receivable, credit, collections, and subscription billing (15–20%)

Implement and manage accounts receivable

• Configure customers and customer groups, including configuring shared customers

• Configure and process free text invoices, including recurring free text invoices

• Process sales order invoices and credit memos

• Configure customer payment methods

• Configure accounts receivable charges and apply changes to an invoice

• Manage customer holds

• Configure customer posting profiles

• Process customer payments

• Configure customer change approvals

• Perform accounts receivable foreign currency revaluation

• Configure and use billing classification

• Configure batch processing of free text and sales order invoicing

• Configure bank accounts for customers

Manage credit and collections

• Configure credit management processes

• Configure collections management processes, including collection activities

• Manage delinquent customers

• Prepare and send customer account statements

• Configure and process collection letters

• Configure aging definitions and process aged balances

• Process and manage credit holds

• Configure and use customer write-offs

• Configure and process interest notes

Configure and manage subscription billing

• Generate sales documents by using billing schedules

• Manage billing schedules, including price update and hold termination

• Configure contract billing, including billing schedule group, item group, and milestone setup

• Configure and use revenue deferrals and recognition, including for charges, deferral defaults, and items deferred by default

• Configure and use expense deferrals and recognition

• Process and manage revenue and expense recognition schedules

3. Implementing and managing accounts payable and expenses (10–15%)

Implement and manage accounts payable

• Configure invoice validation policies and invoice matching setup

• Configure vendor groups, vendors, and vendor posting profiles, including configuring shared vendors

• Process purchase order invoices and credit memos, including prepayments

• Configure vendor payment methods

• Configure accounts payable charges, and apply changes to an invoice

• Configure bank accounts and bank account approvals for vendors

• Configure vendor change approvals

• Perform accounts payable foreign currency revaluation

• Configure vendor invoice automation

• Process the vendor invoice journal including voyage cost

• Configure and use recurring vendor invoices

• Process and generate vendor payments, centralized payments, and prepayments

Configure and use expense management

• Configure expense management including categories, per diem options, mileage expenses, intercompany expenses, and personal expenses

• Create and manage expense reports

4. Managing budgeting (10–15%)

Implement basic budgeting

• Configure budgeting components, including budget models, codes, allocation terms, and transfer rules

• Create and manage budget register entries

• Compare budgeted values with actual values

Configure and manage budget controls

• Configure budget controls including budget parameters, budget fund availability options, budget control rules and groups, and over-budget permissions

• Activate or deactivate budget control configurations

Manage fixed assets (10–15%)

Implement and manage fixed assets

• Create and manage fixed asset groups and other fixed asset attributes

• Configure fixed asset posting profiles

• Configure fixed asset parameters

• Configure fixed asset books

• Configure depreciation profiles

• Create and manage fixed assets

• Configure mapping for fixed asset groups and books

Process fixed asset transactions

• Process fixed asset disposal (sales) by using free text invoices

• Process fixed asset acquisitions by using purchase orders, journals, inventory journals, and projects

• Create fixed asset budgets and transfer the budgets to the budgeting module

• Process fixed asset depreciation

• Process fixed asset disposals and other transactions by using the fixed asset journal

• Process fixed asset split, reclassification, and transfer

• Process acquisition and depreciation for derived books