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