Tag: lean accounting

In lean accounting, lean financial leadership is not just about the CFO, it’s about all of accounting’s interactions with the rest of the company, its customers and external stakeholders. Whether you’re a financial analyst, staff accountant, payroll specialist, billing team supervisor or finance executive, you have a “lean financial leadership” role. There are three sustaining lean financial leadership practices that that should be incorporated into each team member’s daily work and the accounting function as a whole. These practices will help accounting model and lead the change every day.

In this webinar you will learn the  3 sustaining practices:

• Create and implement a lean accounting plan
• Develop and engage staff
• Integrate lean accounting into the lean strategy

Join Mike DeLuca and Nick Katko of BMA on December 8, 2021 at 11:00 am Eastern US time for this free webinar, which will last one hour. 

Don’t worry if you cannot attend the webinar live because of other commitments or the time of the live webinar is not good for you. This webinar will be recorded and will be made available to everyone who has registered. We will send everyone who registered an e-mail link to listen to the recorded webinar. 

If you have any questions about this webinar, please contact Nick at nkatko@maskell.com.

Who Should Attend: Finance and accounting leaders, managers and team members, operations and functional leaders, and executives and owners of lean organizations.

Continuing Education Credits for CPAs: 1 hour of CPE credit (must attend live webinar)

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet

CPE Credits Earned: 1 

The primary challenge in lean financial management is changing thinking habits of decision-makers. This is because of the fixed mindset decision-makers, and companies, have developed with existing financial management practices. The analytical practices have worked in the past, so why shouldn’t they also work in a lean company? The information that has been used for many years has helped them make decisions, so why does it have to change? The adage “old habits are hard to break” rings true in lean financial management.

Changing thinking habits to create a lean financial management system requires new numbers from the management accounting system that are aligned with lean thinking, and new analytical practice routines to learn how to use the numbers so the quality of decision-making improves. Accounting, as the steward of the management accounting system leads this effort by providing coaching to decision-makers to learn new habits, as well as the improved information to support them. 

In this webinar you will learn:

• The useful and understandable information for users in lean companies 
• The benefits of Plain-English financial statements for users
• Developing standard work for lean decision-making 

Join Mike DeLuca and Nick Katko of BMA on November 10, 2021 at 11:00 am Eastern US time for this free webinar, which will last one hour. 

Don’t worry if you cannot attend the webinar live because of other commitments or the time of the live webinar is not good for you. This webinar will be recorded and will be made available to everyone who has registered. We will send everyone who registered an e-mail link to listen to the recorded webinar. 

If you have any questions about this webinar, please contact Nick at nkatko@maskell.com.

Who Should Attend: Finance and accounting leaders, managers and team members, operations and functional leaders, and executives and owners of lean organizations.

Continuing Education Credits for CPAs: 1 hour of CPE credit (must attend live webinar)

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet

CPE Credits Earned: 1 

In lean accounting, improving accounts receivable focuses on improving the quality and delivery of invoices to customers, which requires an understanding of sources of upstream waste that prevent the timely delivery of information to accounts receivable to complete billing activities. 

Accounts receivable must also eliminate waste in receiving and processing customer payments, as that can impact a customer’s ability to place future orders. Lastly, eliminating complexity in the collection process and resolving any discrepancies in a timely, easy manner can enhance the entire customer experience with a company, while improve overall cash flow as well. 

In this webinar you will learn:

• How to apply daily lean management practices to manage accounts receivable
• How to apply error proofing practices to improve quality
• Specific approaches to improving the accounts receivable process

Join Mike DeLuca and Nick Katko of BMA on October 13, 2021 at 11:00 am Eastern US time for this free webinar, which will last one hour. 

Don’t worry if you cannot attend the webinar live because of other commitments or the time of the live webinar is not good for you. This webinar will be recorded and will be made available to everyone who has registered. We will send everyone who registered an e-mail link to listen to the recorded webinar. 

If you have any questions about this webinar, please contact Nick at nkatko@maskell.com.

Who Should Attend: Finance and accounting leaders, managers and team members, operations and functional leaders, and executives and owners of lean organizations.

Continuing Education Credits for CPAs: 1 hour of CPE credit (must attend live webinar)

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet

CPE Credits Earned: 1 

In lean accounting, improving accounts payable to serve customers better focuses on eliminating the waste in invoice processing which will allow requests for payment to be set up for payment that is accurate, on-time and easy to process. Improvement approaches focus on studying each of the accounts payable process steps to properly identify which activities are wasteful and which are necessary.

In this webinar you will learn:

• How to apply daily lean management practices to manage accounts payable
• How to apply error proofing practices to improve quality
• Specific approaches to improving the accounts payable process

Join Mike DeLuca and Nick Katko of BMA on September 8, 2021 at 11:00 am Eastern US time for this free webinar, which will last one hour. 

Don’t worry if you cannot attend the webinar live because of other commitments or the time of the live webinar is not good for you. This webinar will be recorded and will be made available to everyone who has registered. We will send everyone who registered an e-mail link to listen to the recorded webinar. 

If you have any questions about this webinar, please contact Nick at nkatko@maskell.com.

Who Should Attend: Finance and accounting leaders, managers and team members, operations and functional leaders, and executives and owners of lean organizations.

Continuing Education Credits for CPAs: 1 hour of CPE credit (must attend live webinar)

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet

CPE Credits Earned: 1 

BMA is excited to announce another online lean management accounting training and certification event. In this 6 hour interactive learning experience, participants will be able to earn a BMA Level 1 Lean Management Accounting Certification. Certified Public Accountants who attend this course can also receive 6 hours of continuing education credit. 

Course participants will earn their certification by demonstrating the ability to recall, understand and apply the principles, practices and tools of lean management accounting through:

• questions and answers 
• problem solving
• case study discussion
• exercises
• SWOT analyses between courses

Upon completion of the course, participants will be able to:

• Explain and illustrate the benefits of lean management accounting to their company
• Analyze their current management accounting system and develop a transformation plan
• Use their knowledge to conduct a lean management accounting pilot in their company

This course will consist of three 2-hour classes with assignments between classes. Each assignment will be able to be completed in about 1 hour. Individual one-on-one coaching with Nick Katko will be available between sessions to answer any questions as you work your assignments.

Registration: contact Nick at nkatko@maskell.com

Cost

Individual: $900.00

Corporate discounts available (3 or more registrants)

Course Description

Long-term financial improvement is an outcome of a lean strategy. In order for this to occur, a lean company must develop a lean management accounting system that complements its financial accounting system to provide a knowledge base for effectively making decisions about the future (this is critical because the focus of financial accounting is on past activity). Lean management accounting provides decision makers with understandable and useful information to improve the quality of business decision making – the actual relationships between lean operational performance and financial numbers. 

Course Schedule and Learning Objectives

Session 1: August 9, 2021 10:30am – 12:30 pm US Eastern time

• Principles of Lean Management Accounting
  • Economics of lean
  • Lean Financial Thinking
  • Waste in management accounting systems
• Lean Performance Measurements
  • Basic lean performance measurements
  • How to create a lean performance measurement system

Session 2: August 12, 2021 10:30am – 12:30pm US Eastern time

• Value Stream Income Statement
  • Principles of value stream income statement
  • How to develop a value stream income statement
  • Value stream costing practices
• Value Stream Capacity
  • The relationships between capacity, performance and costs
  • How to calculate value stream capacity
  • Methods to use available capacity to create economic value

Session 3: August 16, 2021 10:30am-12:30pm US Eastern time

• Lean Financial Management
  • Principles of lean financial management
  • Why the Box Score is the understandable and useful information for decision making
  • How to apply the Box Score to business decision making
  • How to change thinking in decision making using PDCA
• Developing a Lean Management Accounting System
  • Methods to change thinking
  • How to develop a pilot
  • Components of a lean management accounting system
  • Dealing with typical obstacles and issues

Session 4: Final one-on-one coaching session

• Date and time set up between each participant and Nick Katko

Meeting Platform: Zoom

Registrants will receive Zoom invitations prior to all sessions. Sessions will be recorded.

Continuing Education Credits for CPAs: 6 hours of CPE credit through this online training

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet

CPE Credits Earned: 6 (You must attend each live course)