Contractor Business Systems Series: Part 7 – Material Management and Accounting System
June 5, 2023
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A government contractor Material Management and Accounting System (MMAS), as outlined in Defense Federal Acquisition Regulation Supplement (DFARS) 252.242-7004, is a system for planning, controlling and accounting for the acquisition, use, issuance and disposition of material. It is under the cognizance of the Defense Contract Audit Agency (DCAA) and geared towards a contractors’ manufacturing planning and production.
In this seventh episode of Cherry Bekaert’s podcast series on each of the Contractor Business Systems, Brendan Halloran, a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), is joined by John Bula, a Manager, and Chris Morris, a Senior Associate, in the Firm’s GovCon practice to discuss the requirements for a contractor MMAS, when contractors are obligated to maintain a MMAS and what to expect from DCAA during an audit.
Listen in to find out about:
- What is a Material Management and Accounting System?
- When are contractors obligated to maintain an adequate and acceptable MMAS?
- What are common elements of MMAS?
- When is a MMAS review or audit needed and what is expected from the DCAA?
- How should a contractor prepare for a review or audit by DCAA?
- What are operational benefits of a MMAS?
- What are typical issues encountered with internal monitoring, or a government audit or review?
If you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact us
Cherry Bekaert’s Government Contracting Industry advisors are well versed in business systems requirements and complex control environments. We guide contractors in developing and maintaining compliant business systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.
If you haven’t already, catch up on other parts of the series:
- Contractor Business Systems Series: Part 1 – Applicability
- Contractor Business Systems Series: Part 2 – Accounting System
- Contractor Business Systems Series: Part 3 – Cost Estimating System Requirements
- Contractor Business Systems Series: Part 4 – Purchasing System
- Contractor Business Systems Series: Part 5 – Earned Value Management System
- Contractor Business Systems Series: Part 6 – Property Management System
- Contractor Business Systems Series: Part 8 – Navigating Business Systems Audits and Reviews
- Contractor Business Systems Series: Part 9 – Navigating Review and Audit Findings