Materiel & Financial Accounting Online Training - MFAOLT
Supply Chain Managers within the MOD that need to attain/retain the Inventory Management Licence and Certificate of Competence
To provide delegates with the awareness level knowledge needed to address specific areas of MoD’s management of Materiel and Financial Accounting and progress to the appropriate workshop.
Course Contact Details
By the end of the course students will be able to (at awareness level):
Recall the key issues behind the current MOD Materiel and Financial Accounting (MFA) training requirement and their understanding of the MOD’s MFA improvement plan;
Demonstrate how they can access and participate in the MFA improvement plan from the workplace;
Recall and demonstrate their understanding of the definitions of Materiel Accounting (MA) and Financial Accounting for the Inventory (FAI), the differences in scope between MA and FAI and the dependencies between the two activities;
Identify the key stakeholders, their roles and responsibilities;
Demonstrate the benefits of applying MA policy, process and procedures (the 3 Ps), in an accurate and timely manner;
Demonstrate the benefits of applying the new MA Performance (Compliance and Assurance) procedures;
Demonstrate a sound knowledge of the range of JSC Log IS used in the E2E SC, including the requirements for reconciliation;
Recall the key knowledge requirements in the FAI section and demonstrate how their application will improve FAI, Inventory Planning and related business and financial management processes.
Introduction to MFA; Definition and Scope of MFA; Key Materiel Accounting Activities; Government Furnished Equipment (GFE); Relationships between MFA Stakeholders; Key Risks to Good Materiel Accounting (MA) and Financial Accounting for the Inventory (FAI); Materiel Accounting Policy, Compliance and Governance; The Importance of MA to FAI and the FAI Information Systems; Financial Accounting for the Inventory (FAI)
Successful completion of the post-test is required before enrolment onto the appropriate MFA workshop will be permitted.
In order to complete this course, please visit the Acquisition eLearning Portal.