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
• Describe the requirements of Federal Financial Management Systems and the relationship among FFMSR, FFMIA, and OMB Circular A-123
• 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

Cancellation Policy: In the event a course is cancelled by force majeure, the course must be rescheduled within 180 days, plus any non-reimbursable fees incurred by BMRA, to avoid the penalty of full payment to BMRA for the entire cost. In the event an entire course session is cancelled, for reasons other than force majeure, less than thirty (30) calendar days prior to course commencement, all costs that BMRA incurred in preparing to teach this course must be reimbursed unless they may be reallocated to the rescheduled course. A postponement of a course is considered a cancellation unless it is rescheduled within 180 days from the date of postponement.

Complaint Resolution Policy: Complaints will be promptly addressed by calling 703-691-0868 or emailing businessdevelopment@bmra.com.

Business Management Research Associates, Inc. (BMRA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org.

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