Lean Accounting Best Practices for

Praise for Lean Accounting Best Practices for Sustainable Integration "Anyone involved in a lean transformation inevitably bumps up against the vagaries of the accounting systems that reward overproduction and waste and seem to punish true improvement. We wonder what would happen if the accountants actually came to the production floor and witnessed firsthand the havoc created by their systems. This volume gathers together some of the best thinkers to take a critical look at traditional cost accounting and defines a path forward to 'lean accounting.'" --Jeff Liker Professor of Industrial and Operations Engineering University of Michigan "Joe Stenzel has put together a timely compendium of writings from thought leaders in lean accounting. The viewpoints in this fine book are diverse and yet proclaim a consistent message: that conventional management accounting is broken--and here is how to fix it." --Richard J. Schonberger President Schonberger & Associates "If you are serious about understanding and implementing Lean Accounting in conjunction with your Lean Enterprise journey, this book will illuminate the specific techniques, but more importantly, will explain the cultural changes that are a prerequisite for success." --Jerry Solomon Vice President of Operations Hunt Valley, for MarquipWardUnited, a division of Barry-Wehmiller Companies, Inc. Insights and strategies from the most?experienced lean accounting and performance measurement?practitioners in America Learn how to integrate the proven lean methodologies embedded in the Toyota Production System with Lean Accounting: Best Practices for Sustainable Integration. In this comprehensive guide, leading accounting and performance measurement practitioners analyze the current business climate and provide CFOs and accounting/finance personnel with step-by-step guidelines to seamlessly and successfully integrate sustainable, lean accounting principles within their enterprise. Be a lean success story with Lean Accounting.

Joe Stenzel is Editor in Chief of Cost Management.

Foreword
Introduction
About the Contributing Authors
Lean Essentials
Lean Dilemma: Choose System Principles Or Management Accounting Controls-Not Both
Lean Cure: Symptom Versus Root Cause
Business Results: Mechanism Versus Life System
Confusion Of Levels: Lean Practices Versus Toyota Results
Management Accounting Control Systems Block Lean
Lean Accounting Answers The Wrong Question
Answers To The Right Question-From Shewhart And Deming To Toyota
Management Accounting Controls Or System Principles: Pick One, Not Both
Epilogue: Lean And The Question Of Sustainability
Limited Production Principles: Right-Sizing For Effective Lean Operations And Cost Management
Limited Production Versus Economies Of Scale
Lean And Right-Sizing
Right-Designing For Flow
One-Piece Flow
Beginning The Journey: Executing Right-Design
Right-Designing Cost Management
All Parts At Equal Cost
The Journey To The Promised Land-Perfection
What The Cfo Needs To Understand And Communicate During A Lean Transformation
lean Strategy And Accounting: The Roles Of The Ceo And CFO
Lean Strategy Results
Easy To Agree With, Hard To Do
What Does It Take To Implement A Lean Strategy?
The Role Of The Ceo
Lean Affects Accounting
The Role Of The CFO
Performance Management
Creating A New Framework For Performance Measurement Of Lean Systems
The Problems With Traditional Performance Measures
Solution To The Problems
A Starter Set Of Lean Performance Measurements
Suggestions For Implementation
Motivating Employee Performance In Lean Environments: Respect, Empower, Support
Enterprise Excellence And People
Innovation And People
The Power Of Respect
Two Views Of Performance Motivation
Empowerment And Perceptions
Management Control Systems And Lean Regulatory Systems
Supporting Lean Performance Measurement
Accounting, Lean Performance, And The Empowered Workforce
Supporting The Transformation To Lean.Part III Lean Accountancy
On Target: Customer-Driven Lean Management
The Economics Of The Customer
Cost: A Customer's Perspective
Customer-Driven Lean Management: An Example
Value Segmentation
Using Customer Preferences In Segmentation
Putting The Customer Perspective Into Action
Building The Customer In: A Service Perspective
CLM: The Path Forward
Value Stream Costing: The Lean Solution To Standard Costing Complexity And Waste
The Problem With Standard Costing
Standard Costing Is Actively Harmful To Lean
Value Stream Costing
The Advantages Of Value Stream Costing
Closing The Books
Using Cost Information To Manage The Value Stream
Business Decision Making Using Value Stream Costing
Valuing Inventory
Chapter Summary
Obstacles To Lean Accountancy
Understanding Lean As A Management System
Cultural Compatibility With Lean Management
Obstacles To Accountants Changing To Lean Accounting
Major Developments In Anagement Accounting
Overcoming The Obstacles
Lean Application In Accounting Environments
Goal And Focus Areas
Kaizen Events In Brief
How To Get Started And Never End
What To Expect
Sarbanes And Lean-Odd Companions
OV
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Lean Accounting Best Practices for Sustainable Integration

Summary

Author Biography

Table of Contents

Supplemental Materials