Friday, March 4, 2016

Exam MB6-702 Microsoft Dynamics AX 2012 R3 Financials

Published: December 23, 2014
Languages: English, Chinese (Simplified), Japanese
Audiences: IT professionals
Technology: Microsoft Dynamics AX
Credit toward certification: Specialist

Skills measured
This exam measures your ability to accomplish the technical tasks listed below. The percentages indicate the relative weight of each major topic area on the exam. The higher the percentage, the more questions you are likely to see on that content area on the exam. View video tutorials about the variety of question types on Microsoft exams.

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Configure Microsoft Dynamics AX 2012 R3 (25–30%)
Set up the General Ledger, chart of accounts, and journals
Create a chart of accounts; create and categorize main accounts; identify main account types; create financial dimensions and dimension sets; configure account structures; create advanced rule structures; create organizational units and hierarchies; create fiscal calendars, years, and periods; create date intervals; create reason codes; define journal names; define allocation rules and allocation basis; create system accounts; create journal texts; set up intercompany accounting; define General Ledger parameters
Define cash and bank management and procedures
Create bank transaction types and groups; define bank parameters; create payment purpose codes, bank groups, and bank accounts; define check layouts
Set up Accounts Payable and Accounts Receivable
Create payment schedules and terms, create a payment day, define cash discounts and payment fees, create payment methods, create vendor accounts, create vendor groups, define vendor posting profiles, assign a vendor posting profile, form setup and print management, define matching policies and tolerances, create charges and charge groups, define aging periods
Set up currencies and sales tax
Set up currencies, currency types, and exchange rates; create ledger posting groups; create sales tax authorities; create sales tax settlement periods; create sales tax codes; create sales tax groups; set up item sales tax groups; set up a sales tax jurisdiction

Manage Microsoft Dynamics AX 2012 R3 (25–30%)
Manage General Ledger daily and periodic procedures
Create a General Ledger journal, post multiple journals, approve journals, create a voucher template, create a periodic journal, reverse a General Ledger transaction, manage journal transaction inquiries and reports, create journal controls, revalue foreign currency, process financial consolidation, post a sales tax payment
Manage Accounts Payable daily and periodic procedures
Create vendor invoices, create invoice journals, revalue foreign currency, generate vendor payments, manage vendor postdated checks
Manage Accounts Receivable daily and periodic procedures
Create customer invoices, create free text invoices, revalue foreign currency, apply customer payments, manage customer collections
Manage commitment accounting and cash flow
Configure dependent ledger accounts, set up cash flow forecasting, define a cash flow forecast budget model, create and calculate cash flow transactions
Manage advanced payments
Set up bridge accounts, manage electronic vendor and customer payments, manage centralized payments and prepayments (deposits), administer a bill of exchange, manage direct debit mandates
Maintain bank accounts
Checks and deposit slips, void and refund checks, manage bank remittance and payment reversals, reconcile a bank account

Define and manage budgets (15–20%)

Plan budgets
Identify budget components, identify budgeting methodologies, create organizational hierarchies, define budget stages, define budget allocation terms, configure budget plans, configure budget allocation schedules, configure support for budget planning templates
Control budgets
Plan for budget controls; identify budget control components; set up, create, and revise budgets; define the budget funds available calculation; define budget cycles; create budget control rules and budget groups; manage budget reporting; manage integrated budgeting; create budget transfers
Create basic budgets
Define budget dimensions, create budget models and codes, create budget register entries, define and create encumbrances, manage purchase order encumbrances, process year-end purchase orders

Configure and manage Fixed Assets (20–25%)
Configure the Fixed Assets module
Set up the Fixed Assets module, create value models, create Fixed Asset groups, set up Fixed Asset parameters, manage reason codes in the Fixed Assets module, manage depreciation methods and conventions, manage depreciation books, manage provision types and bonus depreciation, update depreciation conventions for a depreciation book, set up depreciation profiles
Set up assets
Identify Fixed Assets module components; manage Fixed Asset forms; set up assets in the Fixed Assets module; lend assets; assign bar codes to assets, budget assets; integrate other modules with Fixed Assets
Manage asset transactions
Identify typical Fixed Asset transaction types; record acquisitions and acquisition proposals; create and acquire Fixed Assets from purchase orders; record depreciation, value adjustments, and disposals; manage transaction reversals; manage replacement costs and update insured values; copy Fixed Assets and change Fixed Asset groups; manage Fixed Asset additions

You need to create a fixed asset that records depreciation quarterly.
Which form should you use to configure the period frequency for posting depreciation?

A. Value models
B. Depreciation profiles
C. Special depreciation allowance
D. Depreciation books

Answer: A

Which three methods can you use to assign bar codes to fixed assets? Each correct answer presents a complete solution.

A. Automatically assign the bar codes when you create fixed assets.
B. Assign the bar codes to fixed assets groups.
C. Automatically assign the bar codes based on the fixed asset journal type.
D. Assign the bar codes to current fixed assets.
E. Manually assign the bar codes when you create fixed assets.

Answer: A,B,D

You need to configure a workflow to approve all budget amounts at the line level.
Which workflow configuration type should you use?

A. Budget register entry workflow
B. Ledger fixed assets budget journal workflow
C. Budget plan workflows
D. Budget account entry workflow

Answer: A

You need to ensure that you have the most current data to manage customer collections.
What should you create first?

A. A customer account statement
B. A customer balance list
C. A customer aging snapshot
D. A customer pool

Answer: B

Which two elements are required to create a budget plan in Microsoft Dynamics AX 2012? Each correct answer presents part of the solution.

A. Budget plan priority
B. Budget plan preparer
C. Budget planning user group
D. Budget planning process

Answer: A,C

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