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Managing Fixed Assets & Budgeting (10-15%):
- Manage and configure budgeting processes: this topic covers one’s skills in configuring the budgeting components; creating the budget plan; defining the budget planning process and planning a budget; configuring budget controls; creating and configuring registry entries; implementing budget workflows; performing budget checks on journals and documents;
- Manage and implement fixed assets: the individuals should have the skills in creating fixed assets groups and fixed assets; configuring fixed asset parameters; explaining and configuring fixed asset depreciation and books; enabling integration with purchasing and projects; acquiring, depreciating, and disposing of fixed assets; estimating and performing eliminations of projects to fixed assets; creating fixed asset budgets and transferring budgets to budgeting modules.
NEW QUESTION # 98
You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts.
The company wants to import their bank statements.
You need to import electronic bank statements to reconcile the bank accounts.
Which three actions can you perform? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
- B. Select all the bank accounts for the bank statement files, and then upload all files
- C. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
- D. Import bank statements from the Data management workspace
- E. Select Account reconciliation on the bank account form
Answer: A,C,E
Explanation:
Section: Topic 1, Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile- bank-statements-advanced-bank-reconciliation
NEW QUESTION # 99
A company charges customers for freight costs. These charges are not added to the items on the order.
You need to configure the charge code for Accounts receivable.
What should you configure? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 100
An organization is setting up a cost accounting.
You need to set up fiscal calendars for Dynamics 365 Finance.
What are three uses for fiscal calendars? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. budget cycles
- B. shift work hours
- C. financial transactions
- D. fixed asset depreciation
- E. standard work hours
Answer: A,C,D
Explanation:
Select fiscal calendars for ledgers, fixed assets, and budget cycles Fiscal calendars are used with fixed asset depreciation, financial transactions, and budget cycles.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/fiscal-calendars-fiscal-years-periods
NEW QUESTION # 101
Your company uses Dynamics 365 Finance
All fixed assets are categorized by asset type. For example, office furniture is sequentially numbered. Has the same service life, and uses the same depreciation deduction calculation.
You need to configure the system.
Which two parameters should you set up? Each correct answer presents part of the solution NOTL Each correct selection is worth one point.
- A. appreciation convention
- B. deprecation profile
- C. fixed asset group
- D. derived book
Answer: B,C
NEW QUESTION # 102
You need to validate the sales tax postings for Tennessee and Alabama.
Which tax selections meet the requirement? To answer. select the appropriate options in the answer area NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
NEW QUESTION # 103
Case Study 3 - Alpine Ski House
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.
* Vendors request access to the vendor collaboration portal by using a workflow which runs on a nightly schedule.
Intercompany setup
Vendor123 resides in US franchise Company1 and is set up for intercompany transactions.
Customer345 resides in Canada franchise Company1 and is set up for intercompany transactions.
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.
You need to prevent the issue from reoccurring for User5.
What should you do?
- A. Add more keywords to the audit policy.
- B. Use the audit list search query type.
- C. Set up the sampling query type for entertainment expenses.
- D. Set up the aggregate query type for entertainment expenses.
Answer: A
NEW QUESTION # 104
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:
NEW QUESTION # 105
You are a controller in an organization. You are identifying cost drivers to see how changes in business activities affect the bottom line of your organization. You need to assess cost object performance to analyze actual versus budgeted cost and how resources are consumed.
You need to demonstrate your understanding of cost accounting terminology.
Which component maps to the cost accounting terminology?
To answer, drag the appropriate component to the correct cost accounting terminology. Each source may be used once. 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/cost-accounting/terms-cost-accounting
NEW QUESTION # 106
A company plans to implement financial management with Dynamics 365 Finance.
The company must be able to view cost changes for manufactured items without affecting the current active costs. You need to configure the costing versions. Which type of costing version should you configure?
- A. Actual cost tracking
- B. Standard costs
- C. Indirect cost allocation
- D. Planned costs
Answer: D
NEW QUESTION # 107
You manage the consolidation and elimination process in Dynamics 365 Finance for a company.
The company must consolidate financial data from multiple subsidiaries that use different currencies and systems. The company must ensure that intercompany eliminations are correctly processed.
You need to set up and run the consolidation and elimination process in Finance.
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:
Explanation:
NEW QUESTION # 108
A client is implementing the Budgeting module in Dynamics 365 Finance.
You need to configure the correct budget control area to meet the client's requirements.
* Track budgeting control on purchase requisitions.
* Include unposted actual transactions in the calculation of the remaining budget for the period.
* Allow specific individuals to post transactions that exceed the budget.
* Specify main accounts that are subject to budget control, instead of selecting Main account as a dimension for budgeting.
What should you configure? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/budget-control-overview-configuration
NEW QUESTION # 109
SIMULATION
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
See explanation below
Explanation:
Navigate to System administration > Security > Assign users to roles
Select the 'Accountant Closing' role.
Click the "Manually assign / exclude users" button
Select the Theresa Jayne user account and click the "Assign to role" button.
Click the "Assign organizations" button
Select the "Grant access to specific organizations" option
Select the USMF legal entity and click the "Grant" button.
Reference:
https://www.dynamics-tips.com/system-administration/security-roles
NEW QUESTION # 110
The controller at a company has multiple employees who enter standard General ledger journals.
The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review.
You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.
Which functionality should you configure?
- A. the controller's security role so that he has approval privileges for General ledger journals
- B. an alert that is sent to the controller when a journal name is created
- C. a manual journal approval with the journal assigned to the controller's user group
- D. a manual journal approval with the journal assigned to the user group that the employees are assigned to
Answer: D
Explanation:
Configuring a manual journal approval with the journal assigned to the controller's user group enforces a system-led review process. This setup ensures that journals entered by employees cannot be posted until they are reviewed and approved by the controller's group, meeting the requirement for pre-posting oversight.
NEW QUESTION # 111
You are configuring Dynamics 365 for Finance and Operations,
You need to implement posting definitions for all available transaction types.
For which type of transactions can you implement posting definitions?
- A. Accounts payable, Accounts receivable, Fixed assets, Payroll, and Purchasing
- B. Accounts payable, Accounts receivable. Bank. Budget, Payroll, and Purchasing
- C. Accounts payable, Accounts receivable, Budget, and Fixed.assets
- D. Accounts payable, Bank. Budget Fixed assets, and Payroll
Answer: B
NEW QUESTION # 112
You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations. You are viewing the main accounts,
Answer:
Explanation:
NEW QUESTION # 113
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Earning the Microsoft Dynamics 365 Finance Functional Consultant certification demonstrates that the candidate has the knowledge and skills required to implement and configure financial management functionalities in Dynamics 365 Finance. Microsoft Dynamics 365 Finance Functional Consultant certification not only validates the candidate's expertise but also enhances their credibility as a finance professional. Additionally, it opens up new job opportunities and helps professionals advance their career in the finance industry.
Real Microsoft MB-310 Exam Questions [Updated 2026]: https://gocertify.topexamcollection.com/MB-310-vce-collection.html
