Exam MB-300 topic 3 question 40 discussion

Actual exam question from Microsoft's MB-300

Question #: 40
Topic #: 3

HOTSPOT -
A company uses May 1 as the start of its fiscal year.
You need to set up fiscal calendars and date intervals in financial accounting.
Which of the following attributes or purposes does each of the data configurations have? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
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Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-years-periods

by Wouter_B at Feb. 7, 2021, 8:32 p.m.

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Wouter_B

Highly Voted 4 years, 4 months ago

The following link might be useful for the Date Intervals part: https://docs.microsoft.com/en-us/learn/modules/create-fiscal-calendars-years-periods-dyn365-finance/7-date-interval

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Mariusz123

Most Recent 2 years, 2 months ago

Fiscal calendars are mandatory to work with General Ledger, it is linked here , General ledger - General ledger- Setup - Ledger, it determines the fiscal year for a compamny (mandatory settings). additional you can link Fiscal calendar in Fixed Asset (this is optional) to determine the time periods for fixed asset depreciation, Fixed assets -Setup -Books

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Vevebliss

2 years, 2 months ago

Why is fiscal calendar a mandatory setup? I googled and found a fiscal calendar is not a compulsory setup in Dynamics 365 Finance, meaning that it is not required for financial accounting but it can be useful for certain scenarios. A fiscal calendar can be used for a fixed asset calendar, to define the financial periods for the fixed assets. But it cannot be used for procurement asset calendar.

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ZQ05

2 years, 6 months ago

Answers are all correct

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