Accounting for Lean Success

This white paper examines the why and how lean principles could be applied to accounting in order to maintain lean success. It distinguishes between financial accounting and management accounting, which:

•  Focuses on customer definitions of value
•  Adds value to business with insight, analysis and performance-improvement coaching
•  Advocates lean principles, such as using lean income statement

The paper also explains how management accounting is the way forward as transparency, accountability and compliance are ensured.