Course Description

This three-day elective course will provide non-finance personnel in Department of Defense agencies with an understanding of Federal finance. The course details key Federal finance-related legislation and regulations, as well as the Federal budget. Participants will become familiar with the history of the Federal budget process and its current processes, and how it applies within the agencies of the Department of Defense. Participants will also gain an understanding of the Federal financial management system. The course also helps the participants analyze various aspects of standards and compliance in Federal finance, including financial statements, internal control, required reporting and auditing.

Learning Objectives

• Outline the Federal budget process and agency responsibilities
• List the requirements of the financial management system
• Explain the role of federal financial statements in finance management
• Discuss Cost Accounting Standards (CAS) requirements of the FAR and the applicability and coverage of the standards to Federal contracts
• Describe required audits, and audit and review processes

For more information, please contact businessdevelopment@bmra.com or call us at (703) 691-0868 ext. 100.