Practical Lean Accounting

A Proven System for Measuring and Managing the Lean Enterprise, Second Edition

Brian H. Maskell, Bruce Baggaley, Larry Grasso

• Publisher: Productivity Press
• Year: 2017
• Print ISBN: 9780367457587
• eBook ISBN: 9781439817179
• Edition: 2
• Topic: Business
• Subtopic: Operations
• Index: Business

The methods and concepts presented in the bestselling first edition revolutionized the approach to the management and control of Lean companies. Enhanced with extensive end-of-chapter exercises and downloadable resources with Lean accounting tools, the second edition of this preeminent practitioner's guide is now suitable for classroom use.

Practical Lean Accounting: A Proven System for Measuring and Managing the Lean Enterprise, Second Edition explains exactly what it takes to transform a traditional accounting system to one that supports and enhances a company's Lean efforts. Defining the fundamental principles of Lean accounting, it demonstrates how to use them to identify and eliminate wasteful transactions. The book includes coverage of cell performance measurement, use of the box score, operational and financial planning, cost targeting, Lean accounting diagnostics, and value stream mapping. Retaining the easy-to-use format that made the first edition a bestseller, this updated edition includes:

• A new section on the use of value stream performance measurements in continuous improvement
• A re-written Target Costing chapter that emphasizes a value-based approach to the management of the Lean value system
• A Lean Accounting Diagnostic tool to help you assess progress and develop a plan for implementing changes
• Cutting-edge examples that illustrate implementation in accounting departments
• Downloadable resources with data from the ECI Value Stream Cost Analysis case study included in the text, Excel templates, and end-of-chapter questions with solutions

The book contains a wealth of tools that makes it ideal for company training sessions and advanced undergraduate and graduate-level courses. For each major example provided, two similar problems are included—one for instructors to guide students through and a second for students to work through on their own. An additional set of problems and questions for testing purposes are also available to instructors on the authors' website.Unfortunately, during the publishing process mistakes can be made that are not caught before the book is printed. Productivity Press takes great care to catch any errors prior to the printing stage.

Table of contents

• Front Cover
• Contents
• Preface to the First Edition
• Preface to the 2011 Edition—The Journey Continues …
• Acknowledgments
• Introduction
• Chapter 1 - Why Is Lean Accounting Important?
• Chapter 2 - Maturity Path to Lean Accounting
• Chapter 3 - Cell Performance Measurements
• Chapter 4 - Financial Benefits of Lean Manufacturing
• Chapter 5 - Eliminating Wasteful Transactions
• Chapter 6 - Lean Financial Accounting
• Chapter 7 - Managing by Value Stream
• Chapter 8 - Value Stream Performance Measurements
• Chapter 9 - Value Stream Costing
• Chapter 10 - Using the Box Score
• Chapter 11 - Calculating Product Costs—Features and Characteristics
• Chapter 12 - Eliminating More Wasteful Transactions
• Chapter 13 - Sales, Operational, and Financial Planning (SOFP)
• Chapter 14 - Lean Financial Accounting II
• Chapter 15 - The Lean Enterprise
• Chapter 16 - Target Costing
• Chapter 17 - Expanding Value Streams outside Our Four Walls
• Chapter 18 - The Lean Accounting Diagnostic
• Chapter 19 - Performance Measurement Linkage Chart
• Chapter 20 - Transaction Elimination Maturity Path Table
• Chapter 21 - Value Stream Cost Analysis
• Chapter 22 - Value Stream Mapping
• Endnotes
• Back Cover