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TEST SUPPRIMÉ, PEUT-ÊTRE VOUS INTÉRESSEZ:MD365/MB310/3

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Titre du test:
MD365/MB310/3

Description:
MD365/MB310/2

Auteur:
nour
(Autres tests du même auteur)

Date de Création:
25/03/2024

Catégorie:
Autres

Nombres des questions: 29
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A company uses Microsoft Dynamics 365 Finance to manage fixed assets. The company uses laptops for three years and then sells the laptops externally. You need to process laptop sales. What should you do? A. Create a fixed asset disposal journal. B. Use a free text invoice to record the sale. C. Create a sales order for the sale of the asset. D. Use an inventory movement journal to record the disposal.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to correct the sales tax setup to resolve User5's issue. Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point. A. Populate the sales tax code on the sales order line. B. Assign the sales tax group to CustomerY. C. Assign the relevant sales tax code to both the sales tax and item sales tax groups. D. Populate the item sales tax group field on the sales order line. E. Populate the sales tax group field on the sales order line.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to troubleshoot the reporting issue for User7. Why are some transactions being excluded? A. User7 is running the report in CompanyB. B. User7 is running the report in CompanyA. C. The report is correctly excluding CustomerY transactions. D. The report is correctly excluding CustomerZ transactions.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to troubleshoot the reporting issue for User7. Why are some transactions being excluded? A. a main account in the sales tax payable field B. a main account in the settlement account field C. the Conditional sales tax checkbox D. the Standard sales tax checkbox.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to view the results of Fourth Coffee Holding Company's consolidation. Which three places show the results of financial consolidation? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point. A. a financial report run against the company Fourth Coffee B. a trial balance in the Fourth Coffee Holding Company C. a trial balance in the company Fourth Coffee D. a financial report run against the Fourth Coffee Holding Company E. the consolidations form in Fourth Coffee Holding Company.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to configure the system to resolve User8's issue. What should you select? A. the Standard sales tax checkbox B. the Conditional sales tax checkbox C. a main account in the settlement account field D. a main account in the sales tax payable field.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to configure the financial reporting fiscal calendar for CustomerX. What should you do? A. Use the ledger calendar to set up the 4-5-4 calendar. B. Configure the fiscal calendar to include a 13 th closing period. C. Configure the ledger calendar to include a 13 th closing period. D. Use the closing period adjustments form.
Introductory Info Case study - 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. 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 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. Question You need to prevent the issue from reoccurring for User5. What should you do? A. Use the audit list search query type. B. Set up the aggregate query type for entertainment expenses. C. Set up the sampling query type for entertainment expenses. D. Add more keywords to the audit policy.
Introductory Info Case study - 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. 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 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. Question The Canadian franchise purchases excess ski equipment from the US franchise. Two sets of skis are purchased totaling USD1,000. When the purchase invoice is prepared, USD10,000 is keyed in by mistake. Which configuration determines the result for this intercompany trade scenario? A. Post invoices with discrepancies is set to require approval. B. Match invoice totals is set to yes. C. Three-way match policy is configured. D. Two-way match policy is configured. E. Post invoices with discrepancies is set to allow with warning.
Introductory Info Case study - 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. 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 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. Question You need to resolve the issue that User4 reports. What should you do? A. Change the status of the vendor collaboration request B. Create a vendor account with the systemexternaluser role and the vendor admin (external) role C. Remove the externalsystemuser role from the vendor D. Manually create the vendor account with the systemuser role.
Introductory Info Case study - 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 - First Up Consultants is a global finance and accounting company. Financial needs at organizations are constantly changing. When global companies become too large, it becomes too difficult for them to scale to meet their global operational needs. First Up Consultants provides `Finance as a Service` capabilities. Some large corporations complement their existing finance staff by engaging select services of First Up Consultants. Other large corporations outsource their entire finance operation to First Up Consultants. First Up Consultants has hundreds of customers at any time. One such customer, Humongous Insurance, is updating its Dynamics Finance 365 implementation. Another customer, Trey Research, is setting up its first Dynamics 365 Finance implementation. Current environment - Ledger - Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31. Humongous Insurance reports across all its subsidiaries in consolidated financial reports. Trey Research is a Canadian-based company that operates its fiscal year from April 1 to March 31. Humongous Insurance employees receive an annual cost of living increase. Requirements - Ledger - One of Humongous Insurance's companies provides insurance to government clients and must separate that particular company into its own subsidiary. The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31. Transactions must be posted in the business of record. Humongous Insurance's subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day. Trey Research requires accounting entries to be posted from the subledger to the ledger immediately. Fiscal calendars - You must create three new fiscal calendars: A fiscal calendar named FebJan that runs from Feb 1 to Jan 31. A fiscal calendar named AprMar that runs from April 1 to March 31. A fiscal calendar named JanDec that runs from January 1 to December 31. Accounts - Trey Research must track bank account balances and transactions for each province in which it operates. The bank statement must be sent to the physical address of the home office. Promotion - Humongous Insurance's subsidiary plans to celebrate its new subsidiary status by sending out free gifts to existing policyholders based on the tier of their policy. Promotional items are ordered for distribution and once received must be tracked within Dynamics 365 Finance. Taxes - As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates. Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency. Reporting - The CEO of Humongous Insurance needs to view the insurance products that customers plan to purchase. The report must show all transactions made over the last two years. The corporate vice president of Humongous Insurance's subsidiary needs to view the forecasted cash impact of specific products purchased. The report must show only new transactions. Expenses - Expenses must be paid using the following requirements: Credit card processing - Humongous Insurance requires all credit card transactions to include line-item details. Humongous Insurance's subsidiary requires the shipping address, merchant address, and tax information, but cannot include any order line details. Trey Research requires all credit card transactions include transaction date, transaction amount, description, and line-item details. Compliance and compensation - Trey Research must be able to audit any modifications to its budget. Humongous Insurance employees must receive raises four times per budget cycle. Question You need to ensure the promotional gifts are posted to the correct account. What should you use? A. Field groups B. Classification groups C. Customer credit groups D. Item groups E. Bank groups.
Introductory Info Case study - 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 - First Up Consultants is a global engineering and consulting organization based in Atlanta. The organization assists customers with various implementation projects. The organization provides both consulting services and custom software development. First Up Consultants was recently acquired by a Canadian engineering firm that uses Dynamics 365 Finance. The firm requires First Up Consultants to transition to the solution by 2022. First Up Consultants employs consultants that travel globally, which requires extensive expense management capabilities. First Up Consultants offers software as a service (SaaS) products to customers by using monthly and quarterly subscriptions. Current environment. Travel and expense The company is currently in Phase 2 of their Dynamics 365 Finance implementation. Consultants submit all travel receipts by using inter-office mail to the team admin for processing, but First Up Consultants wants to modernize this experience Expense reports are manually approved and signed by the employee s manager. Current environment. Finance - First Up Consultants operates on a 4-5-4 calendar. Accounting tor revenue has been difficult with the SaaS offerings. This has led to implementing Dynamics 365 Finance Revenue recognition. Revenue recognition has been live for 3 months. Adatum Corporation pays quarterly for use of the First Up Consultants web design application, starting from the day of use. Fourth Coffee pays monthly for use of the First Up Consultants photograph editing application with a contract starting August 1 and payment starting September 1. Adventure Works Cycles pays per use of the First Up Consultant video platform. A blocking rule is set up to prevent a sales order from processing if a customer exceeds a credit limit. Customer credit is set up at the account level for VanArsdel, Ltd. Tailspin Toys is owned by Wingtip Toys. The companies have a credit limit of $60.000 and $100,000, respectively. Current environment. Revenue allocation The company reports the following revenue allocation percentages: Current environment. Tax - VAT tax recovery is required for eligible international business trip expenses. Bank reconciliation is manual and performed by using monthly mailed account statements. The company collects sales taxes from the following states: Requirements - Travel and expense - First Up Consultants requires that employees start using corporate cards for all travel expenses. All expenses over $50 require a receipt. Beer cannot be expensed. Employees may use the corporate card for personal expenses during work travel, but expenses must be categorized correctly. Client entertainment expenses totaling more than $250 must be audited. Employees require a mobile expense experience. Expense report entries must be validated when a transaction line is entered. Employees require the ability to capture receipts by using a mobile device. First Up Consultants requires the ability to reimburse employees in their paychecks for expenses incurred on personal cards. Financials - A virtual thirteenth month is required for year-end transactions. Each day, a validation file must go to First Up Consultants bank detailing all vendor checks paid. Except fees, all matched transactions must clear automatically during bank reconciliation. The accounts payable team must verify expense reports prior to posting. Only payables are allowed to be posted to a prior period up to seven days into the new period. Issues - User1 installed the Expense Management Service add-in and implemented the auto-match and create expense from receipt features but the receipt images do not match the corporate card transactions. Employee1 submits an expense report for a business trip to Europe, but the report is not visible on the expense tax recovery page. Employees provided feedback that the system lets them know of an expense report policy violation only after the entire expense report is submitted. Members of the finance department observe sales orders that posted into a closed period. The finance team observed that for sales order invoice 1234, the price incorrectly posts to a revenue account when it should be deferring. Employee2 purchased supplies for a holiday party and needs to be reimbursed. A customer orders software licenses for the offices in Tennessee and Alabama. Expense reports for unapproved items are posting. VanArsdel, Ltd. exceeded its credit limit but the sales order was processed. Tailspin Toys purchases $70,000 in custom software development. Question You need to ensure that captured employee mobile receipts automatically match the transactions to resolve the User1 issue. Which feature should you enable? A. Define expense policy for receipts B. Expense reports re-imagined C. Expense management workspace D. Show receipts during itemization.
Introductory Info Case study - 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 - Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States. The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France. Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years. The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs. Current environment. General - Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system. Both Canadian subsidiaries have two departments: marketing and operations. Financial reporting is difficult due to data residing in disparate systems. Financial reporting is currently performed by using Microsoft Excel. Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system. Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type. Current environment. Organization The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable. Typically, vendor invoices are received prior to receipt of product. The following fixed assets are sold for a loss: 1. BUILD-100 2. CAR-1233 At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system. Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter. Allocations are performed manually. Barrels are inventoried by site and warehouse. Munson's has multiple depreciation and tax books for all of their fixed asset equipment. Budgets are posted at the department level for each legal entity. Requirements. Sales - Customers should be able to pre-order for fall release of pickles. Three-way matching must be enforced for all purchases. Fixed asset sale transactions require a ledger account entered at the time of transaction. Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items. One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization. Purchasing budgets must be enforced at the main account level. Requirements. Finances - Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received. Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry. Postage expenses must be split evenly across the regional distribution centers automatically. Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly. Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger. Issues - During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings. User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module. User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders. User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget. User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group. Question Which configuration makes it possible for User4 to make a purchase? A. Budget model configuration is configured to allow certain purchases to exceed budget. B. Budget is posted at the dimension level. Budget control is managed at main account level. C. Budget funds available are configured to allow dimension budget overrides. D. Budget is posted at the main account level. Budget control is managed at the department level.
Introductory Info Case study - 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. 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 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. Question You need to configure budget planning for Alpine Ski House Corporate. Which two components should you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point. A. budget control workflow B. budget planning hierarchy C. organizational hierarchy D. operational budget register entry E. budget planning workflow.
Introductory Info Case study - 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 - First Up Consultants is a global finance and accounting company. Financial needs at organizations are constantly changing. When global companies become too large, it becomes too difficult for them to scale to meet their global operational needs. First Up Consultants provides `Finance as a Service` capabilities. Some large corporations complement their existing finance staff by engaging select services of First Up Consultants. Other large corporations outsource their entire finance operation to First Up Consultants. First Up Consultants has hundreds of customers at any time. One such customer, Humongous Insurance, is updating its Dynamics Finance 365 implementation. Another customer, Trey Research, is setting up its first Dynamics 365 Finance implementation. Current environment - Ledger - Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31. Humongous Insurance reports across all its subsidiaries in consolidated financial reports. Trey Research is a Canadian-based company that operates its fiscal year from April 1 to March 31. Humongous Insurance employees receive an annual cost of living increase. Requirements - Ledger - One of Humongous Insurance's companies provides insurance to government clients and must separate that particular company into its own subsidiary. The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31. Transactions must be posted in the business of record. Humongous Insurance's subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day. Trey Research requires accounting entries to be posted from the subledger to the ledger immediately. Fiscal calendars - You must create three new fiscal calendars: A fiscal calendar named FebJan that runs from Feb 1 to Jan 31. A fiscal calendar named AprMar that runs from April 1 to March 31. A fiscal calendar named JanDec that runs from January 1 to December 31. Accounts - Trey Research must track bank account balances and transactions for each province in which it operates. The bank statement must be sent to the physical address of the home office. Promotion - Humongous Insurance's subsidiary plans to celebrate its new subsidiary status by sending out free gifts to existing policyholders based on the tier of their policy. Promotional items are ordered for distribution and once received must be tracked within Dynamics 365 Finance. Taxes - As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates. Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency. Reporting - The CEO of Humongous Insurance needs to view the insurance products that customers plan to purchase. The report must show all transactions made over the last two years. The corporate vice president of Humongous Insurance's subsidiary needs to view the forecasted cash impact of specific products purchased. The report must show only new transactions. Expenses - Expenses must be paid using the following requirements: Credit card processing - Humongous Insurance requires all credit card transactions to include line-item details. Humongous Insurance's subsidiary requires the shipping address, merchant address, and tax information, but cannot include any order line details. Trey Research requires all credit card transactions include transaction date, transaction amount, description, and line-item details. Compliance and compensation - Trey Research must be able to audit any modifications to its budget. Humongous Insurance employees must receive raises four times per budget cycle. Question HOTSPOT - You need to ensure Trey Research meets the compliance requirement. Which budget technology should you implement? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point. A. the Excel budget template B. budget codes C. budgeting workflows D. set-based budget processing.
Introductory Info Case study - 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 - Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States. The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France. Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years. The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs. Current environment. General - Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system. Both Canadian subsidiaries have two departments: marketing and operations. Financial reporting is difficult due to data residing in disparate systems. Financial reporting is currently performed by using Microsoft Excel. Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system. Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type. Current environment. Organization The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable. Typically, vendor invoices are received prior to receipt of product. The following fixed assets are sold for a loss: 1. BUILD-100 2. CAR-1233 At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system. Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter. Allocations are performed manually. Barrels are inventoried by site and warehouse. Munson's has multiple depreciation and tax books for all of their fixed asset equipment. Budgets are posted at the department level for each legal entity. Requirements. Sales - Customers should be able to pre-order for fall release of pickles. Three-way matching must be enforced for all purchases. Fixed asset sale transactions require a ledger account entered at the time of transaction. Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items. One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization. Purchasing budgets must be enforced at the main account level. Requirements. Finances - Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received. Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry. Postage expenses must be split evenly across the regional distribution centers automatically. Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly. Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger. Issues - During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings. User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module. User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders. User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget. User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group. Question You need to identify the root cause for the error that User5 is experiencing. What should you check? A. Fixed asset rules B. Fixed asset determination rules C. Fixed asset posting profiles D. Fixed asset books E. Fixed asset depreciation profiles.
Introductory Info Case study - 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. 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 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. Question You need to acquire the fixed assets that are associated with the purchase orders. What should you do? A. Select the fixed asset checkbox on the invoice. B. Create the fixed assets in the fixed asset module and then acquire the asset. C. Create the fixed assets in the fixed asset module and then select the fixed asset checkbox on the product receipt. D. Reverse the product receipt and then repost it.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to ensure that User9's purchase is appropriately recorded. Which three steps should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point. A. Select a fixed asset group at the line level. B. Set the new fixed asset toggle to yes at the line level. C. Enter three purchase order lines, enter quantity of 1. D. Enter one purchase order line, enter quantity of 3. E. Select a financial dimension at the line level.
Introductory Info Case study - 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 - Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States. The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France. Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years. The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs. Current environment. General - Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system. Both Canadian subsidiaries have two departments: marketing and operations. Financial reporting is difficult due to data residing in disparate systems. Financial reporting is currently performed by using Microsoft Excel. Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system. Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type. Current environment. Organization The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable. Typically, vendor invoices are received prior to receipt of product. The following fixed assets are sold for a loss: 1. BUILD-100 2. CAR-1233 At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system. Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter. Allocations are performed manually. Barrels are inventoried by site and warehouse. Munson's has multiple depreciation and tax books for all of their fixed asset equipment. Budgets are posted at the department level for each legal entity. Requirements. Sales - Customers should be able to pre-order for fall release of pickles. Three-way matching must be enforced for all purchases. Fixed asset sale transactions require a ledger account entered at the time of transaction. Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items. One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization. Purchasing budgets must be enforced at the main account level. Requirements. Finances - Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received. Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry. Postage expenses must be split evenly across the regional distribution centers automatically. Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly. Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger. Issues - During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings. User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module. User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders. User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget. User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group. Question You need to configure system functionality for pickle type reporting. What should you use? A. item model groups B. item groups C. procurement category hierarchies D. financial dimensions E. procurement categories.
Introductory Info Case study - 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 - Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States. The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France. Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years. The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs. Current environment. General - Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system. Both Canadian subsidiaries have two departments: marketing and operations. Financial reporting is difficult due to data residing in disparate systems. Financial reporting is currently performed by using Microsoft Excel. Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system. Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type. Current environment. Organization The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable. Typically, vendor invoices are received prior to receipt of product. The following fixed assets are sold for a loss: 1. BUILD-100 2. CAR-1233 At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system. Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter. Allocations are performed manually. Barrels are inventoried by site and warehouse. Munson's has multiple depreciation and tax books for all of their fixed asset equipment. Budgets are posted at the department level for each legal entity. Requirements. Sales - Customers should be able to pre-order for fall release of pickles. Three-way matching must be enforced for all purchases. Fixed asset sale transactions require a ledger account entered at the time of transaction. Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items. One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization. Purchasing budgets must be enforced at the main account level. Requirements. Finances - Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received. Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry. Postage expenses must be split evenly across the regional distribution centers automatically. Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly. Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger. Issues - During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings. User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module. User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders. User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget. User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group. Question You need to configure the regional distribution centers. Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point. A. Configure a site B. Associate the financial dimension to the site C. Configure a financial dimension D. Configure a legal entity E. Associate the legal entity to the site.
Introductory Info Case study - 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. 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 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. Question You need to adjust the sales tax configuration to resolve the issue for User3. What should you do? A. Create multiple settlement periods and assign them to the US tax vendor. B. Create multiple sales tax remittance vendors and assign them to the settlement period. C. Run the payment proposal to generate the sales tax liability payments. D. Create a state-specific settlement period and assign the US tax vendor to the settlement period.
Introductory Info Case study - 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. 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 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. Question You need to determine the cause of the issue that User1 reports. What are two possible causes for the issue? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point. A. The account structure is in draft status. B. The financial dimensions were created in the incorrect legal entity. C. User1's security is incorrectly set up. D. The account structure has an asterisk for all dimensions. E. The account structure has quotations for all dimensions.
Introductory Info Case study - 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 - First Up Consultants is a global finance and accounting company. Financial needs at organizations are constantly changing. When global companies become too large, it becomes too difficult for them to scale to meet their global operational needs. First Up Consultants provides `Finance as a Service` capabilities. Some large corporations complement their existing finance staff by engaging select services of First Up Consultants. Other large corporations outsource their entire finance operation to First Up Consultants. First Up Consultants has hundreds of customers at any time. One such customer, Humongous Insurance, is updating its Dynamics Finance 365 implementation. Another customer, Trey Research, is setting up its first Dynamics 365 Finance implementation. Current environment - Ledger - Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31. Humongous Insurance reports across all its subsidiaries in consolidated financial reports. Trey Research is a Canadian-based company that operates its fiscal year from April 1 to March 31. Humongous Insurance employees receive an annual cost of living increase. Requirements - Ledger - One of Humongous Insurance's companies provides insurance to government clients and must separate that particular company into its own subsidiary. The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31. Transactions must be posted in the business of record. Humongous Insurance's subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day. Trey Research requires accounting entries to be posted from the subledger to the ledger immediately. Fiscal calendars - You must create three new fiscal calendars: A fiscal calendar named FebJan that runs from Feb 1 to Jan 31. A fiscal calendar named AprMar that runs from April 1 to March 31. A fiscal calendar named JanDec that runs from January 1 to December 31. Accounts - Trey Research must track bank account balances and transactions for each province in which it operates. The bank statement must be sent to the physical address of the home office. Promotion - Humongous Insurance's subsidiary plans to celebrate its new subsidiary status by sending out free gifts to existing policyholders based on the tier of their policy. Promotional items are ordered for distribution and once received must be tracked within Dynamics 365 Finance. Taxes - As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates. Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency. Reporting - The CEO of Humongous Insurance needs to view the insurance products that customers plan to purchase. The report must show all transactions made over the last two years. The corporate vice president of Humongous Insurance's subsidiary needs to view the forecasted cash impact of specific products purchased. The report must show only new transactions. Expenses - Expenses must be paid using the following requirements: Credit card processing - Humongous Insurance requires all credit card transactions to include line-item details. Humongous Insurance's subsidiary requires the shipping address, merchant address, and tax information, but cannot include any order line details. Trey Research requires all credit card transactions include transaction date, transaction amount, description, and line-item details. Compliance and compensation - Trey Research must be able to audit any modifications to its budget. Humongous Insurance employees must receive raises four times per budget cycle. Question You need to reconfigure the taxing jurisdiction for Humongous Insurance's subsidiary. What should you do? A. Configure sales tax groups for transactions that occur in China. B. Change the reporting currency. C. Configure dual currency support for sales tax. D. Change the sales tax settlement period authority.
Introductory Info Case study - 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 - First Up Consultants is a global finance and accounting company. Financial needs at organizations are constantly changing. When global companies become too large, it becomes too difficult for them to scale to meet their global operational needs. First Up Consultants provides `Finance as a Service` capabilities. Some large corporations complement their existing finance staff by engaging select services of First Up Consultants. Other large corporations outsource their entire finance operation to First Up Consultants. First Up Consultants has hundreds of customers at any time. One such customer, Humongous Insurance, is updating its Dynamics Finance 365 implementation. Another customer, Trey Research, is setting up its first Dynamics 365 Finance implementation. Current environment - Ledger - Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31. Humongous Insurance reports across all its subsidiaries in consolidated financial reports. Trey Research is a Canadian-based company that operates its fiscal year from April 1 to March 31. Humongous Insurance employees receive an annual cost of living increase. Requirements - Ledger - One of Humongous Insurance's companies provides insurance to government clients and must separate that particular company into its own subsidiary. The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31. Transactions must be posted in the business of record. Humongous Insurance's subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day. Trey Research requires accounting entries to be posted from the subledger to the ledger immediately. Fiscal calendars - You must create three new fiscal calendars: A fiscal calendar named FebJan that runs from Feb 1 to Jan 31. A fiscal calendar named AprMar that runs from April 1 to March 31. A fiscal calendar named JanDec that runs from January 1 to December 31. Accounts - Trey Research must track bank account balances and transactions for each province in which it operates. The bank statement must be sent to the physical address of the home office. Promotion - Humongous Insurance's subsidiary plans to celebrate its new subsidiary status by sending out free gifts to existing policyholders based on the tier of their policy. Promotional items are ordered for distribution and once received must be tracked within Dynamics 365 Finance. Taxes - As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates. Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency. Reporting - The CEO of Humongous Insurance needs to view the insurance products that customers plan to purchase. The report must show all transactions made over the last two years. The corporate vice president of Humongous Insurance's subsidiary needs to view the forecasted cash impact of specific products purchased. The report must show only new transactions. Expenses - Expenses must be paid using the following requirements: Credit card processing - Humongous Insurance requires all credit card transactions to include line-item details. Humongous Insurance's subsidiary requires the shipping address, merchant address, and tax information, but cannot include any order line details. Trey Research requires all credit card transactions include transaction date, transaction amount, description, and line-item details. Compliance and compensation - Trey Research must be able to audit any modifications to its budget. Humongous Insurance employees must receive raises four times per budget cycle. Question You need to configure the posting groups for Humongous Insurance s subsidiary. Which ledger posting group field should you use? A. Sales tax payable B. Sales tax receivable C. Customer case discount D. Use tax payable E. Use tax expense.
Introductory Info Case study - 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 - Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively. Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes. The current organizational chart is shown below: Current environment - Systemwide setup - Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials. All companies share a Chart of Accounts. Two dimensions are used: Department and Division. Budgeting is controlled at the department level. Customers and vendors are defined as two groups: Domestic and International. Mandatory credit check is set to No. Consolidate online is used for the consolidation of all companies. International main accounts are subject to foreign currency revaluation. The purchasing budget is used to enforce purchasing limits. General ledger accounts - Fourth Coffee - The base currency is USD. Three item groups are used: coffee, supplies, and nonstock. The standard sales tax method is used. Acquiring fixed assets requires a purchase order. All customer payment journals require a deposit slip. CustomerX is a taxable company. CustomerY is a tax-exempt company. CustomerZ is a taxable company. VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group. VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group. VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group. CompanyA - The base currency is USD. It consists of a marketing department and a digital division. A 4-5-4 calendar structure is used. The standard sales tax method is used. CompanyB - The base currency is CAD. The conditional sales tax method is used. Requirements - Reporting - A consolidated Fourth Coffee financial report is required in USD currency. Fourth Coffee and its subsidiaries need to be able to report sales by item type. Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments. Issues - User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account. User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division. When User3 posts an Accounts receivable payment journal, a deposit slip is not generated. User4 observes an increase in procurement department expenses for supplies. User5 observes that sales tax is not calculating on a sales order for CustomerZ. User6 observes that sales tax is calculating for CustomerY. User7 observes that the sales tax payment report is excluding posted invoice transactions. User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form. User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets. CustomerX requires a credit check when making a purchase and is currently at their credit limit. Question You need to determine why CustomerX is unable to confirm another sales order. What are two possible reasons? Each answer is a complete solution. NOTE: Each correct selection is worth one point. A. The credit limit parameter is set to Balance + All. B. The credit limit is set to 0. C. An inventory item is out of stock. D. The inventory safety stock is set to 0.
Introductory Info Case study - 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 - Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States. The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France. Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years. The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs. Current environment. General - Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system. Both Canadian subsidiaries have two departments: marketing and operations. Financial reporting is difficult due to data residing in disparate systems. Financial reporting is currently performed by using Microsoft Excel. Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system. Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type. Current environment. Organization The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable. Typically, vendor invoices are received prior to receipt of product. The following fixed assets are sold for a loss: 1. BUILD-100 2. CAR-1233 At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system. Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter. Allocations are performed manually. Barrels are inventoried by site and warehouse. Munson's has multiple depreciation and tax books for all of their fixed asset equipment. Budgets are posted at the department level for each legal entity. Requirements. Sales - Customers should be able to pre-order for fall release of pickles. Three-way matching must be enforced for all purchases. Fixed asset sale transactions require a ledger account entered at the time of transaction. Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items. One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization. Purchasing budgets must be enforced at the main account level. Requirements. Finances - Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received. Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry. Postage expenses must be split evenly across the regional distribution centers automatically. Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly. Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger. Issues - During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings. User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module. User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders. User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget. User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group. Question You need to recommend a solution to prevent User3's issue from recurring. What should you recommend? A. Configure automatic charge codes. B. Create a service item. C. Configure a sales order template. D. Create a procurement category.
Introductory Info Case study - 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 - Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States. The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France. Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years. The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs. Current environment. General - Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system. Both Canadian subsidiaries have two departments: marketing and operations. Financial reporting is difficult due to data residing in disparate systems. Financial reporting is currently performed by using Microsoft Excel. Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system. Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type. Current environment. Organization The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable. Typically, vendor invoices are received prior to receipt of product. The following fixed assets are sold for a loss: 1. BUILD-100 2. CAR-1233 At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system. Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter. Allocations are performed manually. Barrels are inventoried by site and warehouse. Munson's has multiple depreciation and tax books for all of their fixed asset equipment. Budgets are posted at the department level for each legal entity. Requirements. Sales - Customers should be able to pre-order for fall release of pickles. Three-way matching must be enforced for all purchases. Fixed asset sale transactions require a ledger account entered at the time of transaction. Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items. One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization. Purchasing budgets must be enforced at the main account level. Requirements. Finances - Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received. Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry. Postage expenses must be split evenly across the regional distribution centers automatically. Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly. Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger. Issues - During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings. User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module. User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders. User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget. User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group. Question You need to configure Accounts Receivable to take pre-orders. Which feature should you use? A. Settle cloud transactions B. Accounting source explorer C. Settle open transactions D. Customer aging report E. Voucher transactions.
Introductory Info Case study - 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 - First Up Consultants is a global engineering and consulting organization based in Atlanta. The organization assists customers with various implementation projects. The organization provides both consulting services and custom software development. First Up Consultants was recently acquired by a Canadian engineering firm that uses Dynamics 365 Finance. The firm requires First Up Consultants to transition to the solution by 2022. First Up Consultants employs consultants that travel globally, which requires extensive expense management capabilities. First Up Consultants offers software as a service (SaaS) products to customers by using monthly and quarterly subscriptions. Current environment. Travel and expense The company is currently in Phase 2 of their Dynamics 365 Finance implementation. Consultants submit all travel receipts by using inter-office mail to the team admin for processing, but First Up Consultants wants to modernize this experience Expense reports are manually approved and signed by the employee s manager. Current environment. Finance - First Up Consultants operates on a 4-5-4 calendar. Accounting tor revenue has been difficult with the SaaS offerings. This has led to implementing Dynamics 365 Finance Revenue recognition. Revenue recognition has been live for 3 months. Adatum Corporation pays quarterly for use of the First Up Consultants web design application, starting from the day of use. Fourth Coffee pays monthly for use of the First Up Consultants photograph editing application with a contract starting August 1 and payment starting September 1. Adventure Works Cycles pays per use of the First Up Consultant video platform. A blocking rule is set up to prevent a sales order from processing if a customer exceeds a credit limit. Customer credit is set up at the account level for VanArsdel, Ltd. Tailspin Toys is owned by Wingtip Toys. The companies have a credit limit of $60.000 and $100,000, respectively. Current environment. Revenue allocation The company reports the following revenue allocation percentages: Current environment. Tax - VAT tax recovery is required for eligible international business trip expenses. Bank reconciliation is manual and performed by using monthly mailed account statements. The company collects sales taxes from the following states: Requirements - Travel and expense - First Up Consultants requires that employees start using corporate cards for all travel expenses. All expenses over $50 require a receipt. Beer cannot be expensed. Employees may use the corporate card for personal expenses during work travel, but expenses must be categorized correctly. Client entertainment expenses totaling more than $250 must be audited. Employees require a mobile expense experience. Expense report entries must be validated when a transaction line is entered. Employees require the ability to capture receipts by using a mobile device. First Up Consultants requires the ability to reimburse employees in their paychecks for expenses incurred on personal cards. Financials - A virtual thirteenth month is required for year-end transactions. Each day, a validation file must go to First Up Consultants bank detailing all vendor checks paid. Except fees, all matched transactions must clear automatically during bank reconciliation. The accounts payable team must verify expense reports prior to posting. Only payables are allowed to be posted to a prior period up to seven days into the new period. Issues - User1 installed the Expense Management Service add-in and implemented the auto-match and create expense from receipt features but the receipt images do not match the corporate card transactions. Employee1 submits an expense report for a business trip to Europe, but the report is not visible on the expense tax recovery page. Employees provided feedback that the system lets them know of an expense report policy violation only after the entire expense report is submitted. Members of the finance department observe sales orders that posted into a closed period. The finance team observed that for sales order invoice 1234, the price incorrectly posts to a revenue account when it should be deferring. Employee2 purchased supplies for a holiday party and needs to be reimbursed. A customer orders software licenses for the offices in Tennessee and Alabama. Expense reports for unapproved items are posting. VanArsdel, Ltd. exceeded its credit limit but the sales order was processed. Tailspin Toys purchases $70,000 in custom software development. Question You need to configure the system to meet the fiscal year requirements. What should you do? A. Add an additional fiscal year. B. Divide the twelfth period. C. Add an additional period to ledger calendars. D. Create a closing period. E. Create a new fiscal calendar.
Introductory Info Case study - 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 - First Up Consultants is a global engineering and consulting organization based in Atlanta. The organization assists customers with various implementation projects. The organization provides both consulting services and custom software development. First Up Consultants was recently acquired by a Canadian engineering firm that uses Dynamics 365 Finance. The firm requires First Up Consultants to transition to the solution by 2022. First Up Consultants employs consultants that travel globally, which requires extensive expense management capabilities. First Up Consultants offers software as a service (SaaS) products to customers by using monthly and quarterly subscriptions. Current environment. Travel and expense The company is currently in Phase 2 of their Dynamics 365 Finance implementation. Consultants submit all travel receipts by using inter-office mail to the team admin for processing, but First Up Consultants wants to modernize this experience Expense reports are manually approved and signed by the employee s manager. Current environment. Finance - First Up Consultants operates on a 4-5-4 calendar. Accounting tor revenue has been difficult with the SaaS offerings. This has led to implementing Dynamics 365 Finance Revenue recognition. Revenue recognition has been live for 3 months. Adatum Corporation pays quarterly for use of the First Up Consultants web design application, starting from the day of use. Fourth Coffee pays monthly for use of the First Up Consultants photograph editing application with a contract starting August 1 and payment starting September 1. Adventure Works Cycles pays per use of the First Up Consultant video platform. A blocking rule is set up to prevent a sales order from processing if a customer exceeds a credit limit. Customer credit is set up at the account level for VanArsdel, Ltd. Tailspin Toys is owned by Wingtip Toys. The companies have a credit limit of $60.000 and $100,000, respectively. Current environment. Revenue allocation The company reports the following revenue allocation percentages: Current environment. Tax - VAT tax recovery is required for eligible international business trip expenses. Bank reconciliation is manual and performed by using monthly mailed account statements. The company collects sales taxes from the following states: Requirements - Travel and expense - First Up Consultants requires that employees start using corporate cards for all travel expenses. All expenses over $50 require a receipt. Beer cannot be expensed. Employees may use the corporate card for personal expenses during work travel, but expenses must be categorized correctly. Client entertainment expenses totaling more than $250 must be audited. Employees require a mobile expense experience. Expense report entries must be validated when a transaction line is entered. Employees require the ability to capture receipts by using a mobile device. First Up Consultants requires the ability to reimburse employees in their paychecks for expenses incurred on personal cards. Financials - A virtual thirteenth month is required for year-end transactions. Each day, a validation file must go to First Up Consultants bank detailing all vendor checks paid. Except fees, all matched transactions must clear automatically during bank reconciliation. The accounts payable team must verify expense reports prior to posting. Only payables are allowed to be posted to a prior period up to seven days into the new period. Issues - User1 installed the Expense Management Service add-in and implemented the auto-match and create expense from receipt features but the receipt images do not match the corporate card transactions. Employee1 submits an expense report for a business trip to Europe, but the report is not visible on the expense tax recovery page. Employees provided feedback that the system lets them know of an expense report policy violation only after the entire expense report is submitted. Members of the finance department observe sales orders that posted into a closed period. The finance team observed that for sales order invoice 1234, the price incorrectly posts to a revenue account when it should be deferring. Employee2 purchased supplies for a holiday party and needs to be reimbursed. A customer orders software licenses for the offices in Tennessee and Alabama. Expense reports for unapproved items are posting. VanArsdel, Ltd. exceeded its credit limit but the sales order was processed. Tailspin Toys purchases $70,000 in custom software development. Question You need to identify the posting issue with sales order 1234. What should you do? A. Correct the recognition basis. B. Correct the recognition convention. C. Validate that the revenue recognition schedule is populated on the sales order line. D. Validate that the revenue recognition schedule is populated on the sales order header. E. Update the revenue price allocation.
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