Contractor Business Systems Series: Part 7 – Material Management and Accounting System

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.

Connect With Us


If you haven’t already, catch up on other parts of the series:

View All Government Contracting Podcasts

 

Brendan Halloran

Government Contractor Services

Director, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 19, 2024

18:36

Speakers: Lynnette Leidwinger, Brendan Halloran

Explore key subcontracting insights, including compliance reviews, teaming arrangements, and hiring tips for government contractors.

Podcast

November 14, 2024

22:36

Speakers: Michael G. Cippel, Irwin Kaplan

Discover year-end planning essentials for government contractors, including contractor waterfall insights, cash forecasting & monthly performance tracking.

Podcast

November 11, 2024

20:43

Speakers: Sarah McGregor, Brooks E. Nelson, Mark Giallonardo

Learn how to claim disaster losses and defer casualty gains under IRS rules. Explore relief measures for individuals and businesses affected by disasters.