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3 hours
This is session 2 of 2 in A Guide to the Materials Management and Accounting Systems Review virtual course.

This virtual course takes a comprehensive look at the Material Management and Accounting System (MMAS) DFARS business system, including its purpose, requirements, typical processes and audit risks.  It will help attendees understand how MMAS requirements may apply to their contracts and how to establish and maintain a MMAS as well as how to prepare for a MMAS audit.

Specifically, the course will cover:
  • The Purpose of the MMAS
  • MMAS Contract Applicability
  • Review of MMAS Requirements (i.e., Ten MMAS Standards)
  • Walkthrough of Typical MMAS Core Processes
  • How to Prepare for a MMAS Audit
  • Common MMAS Audit Findings
Throughout the course, real-world practical examples will be used to simplify the concepts around what is often regarded as a complex or mysterious business system.  It will also support the attendees in understanding how the MMAS requirements and potential solutions may relate to their specific contracts (e.g., manufacturing, supply, services) as appropriate MMAS processes can differ significantly between contractors.  Finally, the course will discuss critical success factors in preparing and supporting a MMAS audit and resolving any adverse findings.

Learning Objectives:
  • Learn about the purpose and objectives of a MMAS
  • Understand the applicability of the MMAS requirements to contracts
  • Obtain an understanding of each of the ten MMAS Standards (i.e., requirements) and critical success factors in achieving compliance
  • Learn about core MMAS functions and activities with a walkthrough of typical MMAS processes, along with their interfaces and integration
  • Find out about leading practices in preparing for a MMAS audit
  • Understand and anticipate DCAA audit procedures and requests
  • Learn about MMAS audit trends including common adverse findings and deficiency remediation experiences

 NOTE: On-Demand Virtual Course sessions are not eligible for CLE/CPE credits.
About Our Experts
  • Gary McDonald
    Managing Director, Great Falls Management Advisors, LLC
    Gary McDonald has more than 30 years of experience working in government contracting in the aerospace and defense (A&D), manufacturing, construction and professional services industries. He provided advisory services to clients at two of the Big Four accounting firms for more than 20 years. Gary’s experience includes managing government contracting and compliance operations for a large professional services firm, including proposal development and pricing, contract management, finance and contract compliance and risk management. Additionally, he has more than 12 years of experience in the A&D industry as a flight hardware development engineer and program manager on NASA scientific missions.

    Gary has worked extensively in providing practical guidance and assistance to manage and improve his clients’ government contracting compliance and operations. He helps clients comply with Federal Acquisition Regulation (FAR), Cost Accounting Standards (CAS), business system requirements, including the complex Material Management and Accounting System (MMAS), and other government contract regulations and requirements. Gary successfully helps clients mitigate compliance risks, develop competitive rate structures, recover costs and develop or enhance compliance capabilities.

    Gary is a leading industry resource in government contractor mergers and acquisitions. He provides sell-side preparation and diligence support, acquisition target contract and compliance risk analysis/due diligence, post-close integration, value capture and contract cost recovery support to his clients, having supported nearly 100 transactions over the last several years.
    Lehigh University, Bachelor of Science in Mechanical Engineering
    The George Washington University, Master of Business Administration - Finance
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