Microsoft Dynamics 365 Core Finance and Operations refers to the central module within the Dynamics 365 suite that focuses on the financial and operational aspects of businesses. It combines enterprise resource planning (ERP) and financial management functionalities to streamline and optimize various business processes, including accounting, financial reporting, supply chain management, inventory management, and more.
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Financial Management: Comprehensive financial management capabilities, including general ledger, accounts payable and receivable, budgeting, fixed assets, and financial reporting.
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Supply Chain Management: End-to-end supply chain management functionalities, such as procurement, inventory management, warehouse management, demand forecasting, and supplier relationship management.
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Manufacturing: Support for manufacturing processes, including production planning, resource scheduling, shop floor control, quality management, and product lifecycle management.
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Project Accounting: Project accounting functionalities to manage project finances, track costs and revenues, allocate resources, and monitor project profitability.
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Compliance and Governance: Tools and features to ensure compliance with regulatory requirements, industry standards, and internal governance policies, including audit trails, internal controls, and financial reporting standards.
Before learning Microsoft Dynamics 365 Core Finance Operations, it's helpful to have the following skills:
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Basic Accounting Knowledge: Understanding of accounting principles, financial statements, and financial processes.
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Business Process Understanding: Familiarity with financial and operational processes within organizations, such as procurement, inventory management, and financial reporting.
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ERP Experience: Previous experience with enterprise resource planning (ERP) systems or similar software can be beneficial.
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Data Analysis: Ability to analyze and interpret financial and operational data to make informed decisions.
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IT Skills: Basic understanding of IT concepts, including database management, system configuration, and software customization.
By learning Microsoft Dynamics 365 Core Finance Operations, you gain the following skills:
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Financial Management: Proficiency in managing financial processes such as general ledger, accounts payable, accounts receivable, budgeting, and financial reporting.
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Supply Chain Management: Ability to streamline supply chain processes, including procurement, inventory management, demand forecasting, and supplier management.
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Cost Management: Skills in cost accounting, cost allocation, cost tracking, and cost analysis to optimize cost structures and improve profitability.
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Compliance and Governance: Understanding of regulatory compliance requirements and governance standards to ensure adherence to financial regulations and internal policies.
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Business Intelligence: Knowledge of leveraging built-in analytics and reporting tools to gain insights into financial performance and make data-driven decisions.
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