Please join me for The Lean CFO – 2nd Edition online book launch event on February 10, 2023, from 1:00 – 2:00 pm EST. As I was writing Practicing Lean Accounting I often […]

Standard costing systems were designed for mass production manufacturing. In a lean company, using the information from standard costing systems to leads to non-lean behavior, poor decisions and:  If you […]

Taiichi Ohno said “Costs do not exist to be calculated. Costs exist to be reduced.” A little known benefit of lean thinking is it will reduce costs over time, but […]

Lean performance measurements are an essential tool in a lean company to measure performance, identify process problems & issues and measure the impact of continuous improvement. In order to achieve […]

It is essential for a lean company’s management accounting system to be transformed into a leanmanagement accounting system in order to provide managers with relevant and reliable information to make better […]

One outcome of lean is a reduction in inventory, and this creates a unique opportunity for accounting to simplify the inventory valuation process while maintaining compliance with Generally Accepted Accounting […]

Using lean to create a continuous improvement system for accounting is different than in lean manufacturing. The basic lean tools and practices are relevant for accounting, but the starting points […]

A value stream income statement is an essential analytical financial management tool for a lean organization. It presents revenue and expenses in a usable, easy to understand format for internal […]