Includes coverage of the new definition of Multiple Award Schedule Contracts—effective on February 1, 2016.

The DFARS requires contractors to maintain compliant systems for material management and material accounting.   The DCMA has recently been actively reviewing contractor MMAS programs as the responsibility of the audits has shifted.  

With this, contractors are realizing the need for training on how to best comply with requests and mitigate risks related to audits.   

This course covers MMAS regulatory requirements, techniques for addressing MMAS compliance issues, and practical approaches to achieving and maintaining regulatory compliance as well as good business practices for ensuring proper cost accounting for inventory and other resources acquired and consumed for US Government contract manufacturing, and production.   

Who Should Attend:

It is recommended for individuals with responsibilities for providing input to or relying on output from the material management and accounting system (MMAS), or are responsible for conducting or subject to MMAS audits. Including:

• Accounting Professionals
• Directors and Managers of MMAS
• Compliance Professionals
• Contract Administrators

Learning Objectives:
Upon completion of this course, the participant should:

• Know the concepts of material requirements planning, interrelationships of material requirements planning and material accounting, and the effects of inadequate material management on material accounting
• Understand the nature and intent of the MMAS standards
• Know approaches to determine risk/vulnerability, and oversight scope
• Know the techniques used to assess specific aspects of MMAS and determine cost impact of system deficiencies
• Know strategies for avoiding or minimizing the effect of adverse audit findings