VALID MB-310 TEST OBJECTIVES & MB-310 EXAM STUDY SOLUTIONS

Valid MB-310 Test Objectives & MB-310 Exam Study Solutions

Valid MB-310 Test Objectives & MB-310 Exam Study Solutions

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The candidates for the Microsoft MB-310 Exam must understand its content before attempting to pass it. It is recommended that they go through the official website for the updated details at the point of preparing for the test. The topics covered within the domain of the certification exam are highlighted below:

Defining and Configuring Financial Management (50-55%):

  • Configure currencies & ledgers: the candidates should be able to construct fiscal years, periods, and calendars; configure ledgers; explain and configure the batch transfer rules; configure conversions and currencies for legal entities; configure the currency exchange rate providers; enter the currency exchange rates manually;
  • Manage & implement journals: this subtopic covers the skills in explaining options for the implementation of the voucher numbers within journals; configuring journal names; setting up journal controls & posting limitation rules; explaining and configuring journal approvals; creating voucher templates; explaining use cases for periodic journals; setting up inter-company accounting; configuring and applying accrual schemes;
  • Manage & implement bank and cash: this topic covers competence in creating and maintaining bank accounts and bank groups; explaining and configuring electronic payment options; configuring and processing bank reconciliations such as advanced bank reconciliations; configuring cash flow reports;
  • Define & configure charts of accounts: this objective requires that the applicants demonstrate competence in defining and configuring charts of accounts & main accounts; explain the use cases for main accounts categories, balance control accounts, and ledger account aliases; configuring financial dimension & dimension sets; configuring legal entity overrides for main accounts and financial dimensions; creating and configuring account structures & advanced rules;
  • Perform periodic processes: this section requires competence in configuring closing schedule and financial period workspace; defining and demonstrating year-end processes and periodic closing processes; performing elimination processes and financial consolidation; configuring the allocation terms for main accounts; creating and processing ledge allocation policies; implementing the revaluation processes for foreign currency; creating and managing financial reports, including report definitions, row, and column;

The area will also measure one’s skills in configuring cost groups and cost objects, implementing inventory costing versions, differentiating between the inventory costing methodologies, configuring posting profiles and item groups, as well as performing adjustment processes and inventory closing.

>> Valid MB-310 Test Objectives <<

Microsoft - MB-310 –High-quality Valid Test Objectives

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Career Opportunities and Salaries

Through Microsoft, candidates are given the opportunity to improve their knowledge and expertise as functional consultants in the field of finance. This means that you can accelerate your career and fulfill your professional dreams after passing the Microsoft MB-300 & MB-310 Exams. Since most of the enterprises are currently shifting their business processes on ERP software, a huge demand has been building up for certified specialists. Following job roles are available after you have gained the Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate qualification:

  • Microsoft Dynamics 365 ERP Functional Lead;
  • Dynamics 365 Finance and Operations Consultant.
  • Dynamics 365 F&O/AX Finance Consultant;

The annual pay for a Microsoft Dynamics AX Consultant is slightly more than $75k as covered by Payscale. Also, the average annual pay for a Microsoft Dynamics Consultant is around $99k, according to Ziprecruiter.com.

Microsoft Dynamics 365 Finance Functional Consultant Sample Questions (Q215-Q220):

NEW QUESTION # 215
You need to identify the root cause for the error that User5 is experiencing.
What should you check?

  • A. Fixed asset determination rules
  • B. Fixed asset depreciation profiles
  • C. Fixed asset posting profiles
  • D. Fixed asset books
  • E. Fixed asset rules

Answer: A

Explanation:
Topic 3, Alpine Ski House
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 # 216
You need to configure the system to for existing purchasing contracts.
Which commitment types should you use? To answer, drag the appropriate commitment types to the correct requirements. Each commitment type 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/supply-chain/procurement/tasks/create-purchase-agreement


NEW QUESTION # 217
A rental service company hires you to configure their system to implement accrual schemes.
You need to configure the accrual schemes for this company.
Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

Answer:

Explanation:

Explanation


NEW QUESTION # 218
You need to configure the fiscal year calendars for each legal entity.
How should you configure the fiscal year calendars? To answer, select me appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

Answer:

Explanation:


NEW QUESTION # 219
A company has delinquent customers.
You need to configure Dynamics 365 for Finance and Operations to meet the following requirements:
*Send communication to the customers detailing their past-due invoices.
*Use the system to automatically calculate a late charges,
*Create a group of customers for a collection agent to monitor.
*View a list of customers with colored indicators of a customer's payment status.
You need to associate the correct system functionality to manage delinquent customers based on these business requirements.

Answer:

Explanation:

Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/tasks/review-collections-information


NEW QUESTION # 220
......

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