Lean Accounting is the application of lean thinking to all accounting and finance processes and systems and is an essential component of a successful lean transformation for any organization.

Three principles guide Lean Accounting and form the foundation for all of accounting’s work and interaction with the organization:

• Customer value – delivering the relevant & reliable information in a timely manner to all users of the information inside the organization.
• Continuous improvement – improving accounting processes, cross-functional business processes and the information used inside the business for analysis and decision making.
• Respect for people – adopting a learning attitude by seeking to understand root causes of business problems and issues in a cross-functional, collaborative manner.

The benefits of Lean Accounting are:

• Creating capacity in accounting by eliminating waste in accounting processes.
• Accounting fully participating in cross-function continuous improvement.
• Flowing relevant and reliable information to all internal customers for effective decision making.
• Leveraging accounting’s analytical skills as lean financial coaches throughout the organization.

Lean Accounting provides service excellence to all of accounting’s customers.