Lean Accounting Foundations

Lean practices have long helped manufacturers eliminate waste, boost inventory turnover rates, and add customer value. Now, other industries are adopting lean thinking to maximize capacity and improve their bottom line. When this happens, standard cost-accounting principles no longer apply; accountants must embrace lean accounting. In this course, you can explore the basics of lean accounting, including the pivotal role that accountants play in helping their organizations analyze performance. Management consultant and instructor Joshua Rischin introduces best practices he's learned in over 20 years helping businesses rise to meet current goals and emerging challenges. Learn the key metrics to survey, including resource capacity and financial performance. Find out how to build a box score system for reporting and discover how to present your findings to stakeholders. Finally, explore how to embed lean accounting in your organization and make it a sustainable, long-term endeavor.

Topics include:
Determine the focus of lean-thinking accounts.
Describe the techniques used for building and maintaining metrics and KPIs that monitor value stream performance.
Describe the tools for designing and building a box score.
Interpret how to best communicate results to various audiences.
Distinguish between four different skills that lean accounts should develop.