About Microsoft MB-310 Exam
The MB-310: Microsoft Dynamics 365 Finance exam is one of the qualifying tests that lead to the achievement of the Microsoft Certified: Dynamics 365 Finance Functionality Consultant Associate certification. The exam evaluates the competence of the candidates in configuring & setting up financial management; managing fixed assets & budgeting; implementing accounts receivable, revenue recognition, collections, and credits. It also assesses the ability of the individuals in implementing & managing expenses and accounts payable.
The target audience for this Microsoft test includes Functional Consultants. These are the professionals who analyze the business requirements and transform the same into complete realized business solutions & processes implementing best practices of the industry. The potential candidates function as a core resource within the configuration and implementation of applications that fulfill the business needs.
The Microsoft MB-310 exam has no compulsory prerequisites. However, the test takers should possess a good fundamental knowledge of accounting principles as well as financial operations of organizations, which include costing principles, accounts receivables, accounts payables, fixed assets, taxes, and budgeting.
The Microsoft MB-310 test is available in the English language. The candidates can register for it on the Pearson VUE website. However, before registering and scheduling the exam, the applicants must pay the fee of $165. This fee allows them to sit for only one test. Any student who does not ace the exam by achieving the passing score of 700 points out of 1000 will be required to retake it to earn the associated certification. The test contains 40-60 questions that cover various question types. These include active screen, hot area, best answer, short answer, build list, multiple choice, fill-in-the-blank, and drag and drop, among others. It is recommended that you answer all the questions as you are not marked for the incorrect answers.
Microsoft offers the candidates two options of preparation to improve their performance in the MB-310 test. The instructor-led training, Microsoft Dynamics 365 Finance, is a paid course. It covers the specific financial areas of Dynamics 365. It equips the individuals with the skills required for configuring & utilizing basic financial elements, fixed assets, accounts receivables, accounts payables, budgeting, collections, and other additional functionality. The free learning paths cover different topics of the exam broken into modules and digestible components. The official practice test is also part of the study materials and designed to help you evaluate your knowledge and skills in the domains of Microsoft MB-310.
The best place to start your preparation process for any certification test is from its topics. Review them carefully to understand the skill areas that the exam will measure. This will give you a clear idea of resources to use to gain the required competence. It is also recommended that you go through the official blueprint as it will contain the up-to-date sections at the time of your preparation. The highlights of the subject areas for Microsoft MB-310 are as follows:
Manage Financial Configuration & Set Up: 50-55%
- Outline & configure an account chart: It requires the skills in outlining & configuring charts of main accounts & accounts; configuring the financial dimension as well as dimension sets, and legal entity supersedes for main accounts & financial dimensions, among others.
- Customize ledgers & currencies: The test takers should demonstrate their competence in configuring ledgers, currency exchange rate providers, and entering currency exchange rates manually. It also covers their skills in constructing fiscal calendars, periods, and years, among others.
- Manage & implement journals: It covers the skills in creating voucher templates; explaining options for the implementation of voucher numbers in journals; setting up inter-company accounting; explaining the use cases for periodic journals.
- Manage & implement cash and bank: It includes the skills in configuring cash flow reports and configuring & processing bank reconciliations. It also focuses on the skills in explaining and customizing electronic payment layouts.
- Implement cost accounting & cost management: The candidates should demonstrate their expertise in configuring cost accounting processes, item groups & posting profiles, and cost groups & cost objects. It also covers their competence in explaining cost accounting terms & processes and explaining & configuring costing sheet and indirect costs.
- Carry out periodic processes: It involves configuring allocation terms for major accounts and financial period workspace as well as closing a schedule. It also covers the skills in implementing revaluation procedures for foreign currency and performing financial consolidation & elimination processes.
- Collect, configure, & report taxes: It includes the skills in configuring tax ledger posting groups, jurisdiction, settlement periods, tax groups, and tax codes.
Manage & Implement Expenses & Accounts Payable: 10-15%
- Manage & implement accounts payable: It includes the skills in configuring the Vendor Collaboration module, invoice validation policies, accounts payable charges, and vendor payments.
- Use & configure expense management: It includes the skills in managing expense reports and customizing expense management workflows. It also covers the competence in customizing expense management, which includes personal expenses, mileage expenses, diem options, and categories.
Implement Revenue Recognition, Account Receivable, Collections, and Credit: 20-25%
- Manage & implement account receivables: It covers the competence in configuring accounts receivable charges, customer payment setup, and free text invoices. It also covers the skills in processing invoices, orders, & payments.
- Manage collections & credit: It requires your competence in managing the delinquent customers, configuring collection management, and credit management processes.
- Customize revenue recognition: It covers the skills in implementing revenue schedules and customizing parameters & journals for revenue recognition.
Manage Budgeting & Fixed Assets: 10-15%
- Manage & customize budgeting procedures: It includes implementing budget workflows; configuring budgeting elements; creating budget plans; determining the budget planning procedure & planning the budget; performing budget checks for journals and documents.
- Manage & implement fixed assets: It requires the competence in creating fixed assets & assets groups; estimating & executing eliminations of projects to fixed assets; customizing parameters for fixed assets, and depreciating, acquiring, and disposing of fixed assets.
The holders of the Microsoft Certified: Dynamics 365 Finance Functionality Consultant Associate certification can build a successful career in the field of finance and accounting operations. Some of the job roles that are available to these individuals include a Finance Business Analyst, a Business Analyst, a Finance & Operations Analyst, a Microsoft Dynamics Finance Consultant, an IT Business Analyst, and a Supply Chain Consultant. The average remuneration for these titles is $85,350 per year.