January 5, 2005 - The Peerless Technologies Corporation Materiel Support Division (MSD) Inventory Accounting Support Team received the “Contractor Most Valuable Player” award from Major General Frank R. Faykes at his recent Headquarters, Air Force Materiel Command, Financial Management Director’s Call. The Peerless team received this quarterly award for superb performance in identifying deficiencies and providing the solution in calculating the current Moving Average Cost (MAC) in the Financial Inventory Accounting and Billing System (FIABS).

The Peerless Team was recognized as the primary subject matter expert in all matters pertaining to inventory evaluation, CFO issues and improvements in financial management of MSD. The Office of the Under Secretary of Defense (Comptroller) sought out the Team’s comments concerning implementing MAC and revising financial management policy for the Working Capital Fund, specifically updating the Financial Management Regulation (FMR), Chapter 5.

Peerless Technologies Corporation, a US SBA HUBZone certified company, is based in Dayton, Ohio and provides information technology, financial, engineering, and scientific services to commercial and government clients.