Implementing the Lean Business System can sometimes send the wrong signals and even negatively impact financial results.This two-day course teaches attendees how to showcase the value and competitive advantage of Lean initiatives in a company’s financial reports.
This course is designed to teach you why traditional cost management techniques do not support Lean thinking and how to develop a set of financial reports, including “Plain English” financial statements, that allow the user community to truly understand performance and what they need to do to improve.
- How Lean Accounting applies to production and office activities
- How Lean implementations can negatively affect the P&L
- Why value-stream costing is more accurate than standard costing
- The advantages of recognizing and removing wasteful transactions
- The importance of Lean performance metrics
- Factory simulation (workshop activity) with financial statements demonstrating the impact of Lean improvements
- Lean Human Resources
- Lean budgeting
- The impact culture has on a Lean transformation
- “Plain English” Financial Statements
Who should attend?
Both accountants and operations people will benefit from this class. For maximum benefit we recommend that the company sends both and operations person and accounting person.
Upon completion, you will understand
- The principles of Lean Accounting
- The shortcomings of a traditional standard cost system
- How accounting must partner with manufacturing to successfully implement Lean
- How to forecast the financial impact of Lean on the firm’s financial statements
- How to develop a game plan to implement Lean Accounting
About the Workshop Leader
Jerry Solomon serves as the VP of Operations for Marquip WardUnited-Hunt Valley, a division of the Barry-Wehmiller Companies, a leading packaging automation and converting group. Prior to that, he simultaneously held the positions of chief financial officer and vice president of manufacturing at three mid-market manufacturing companies, where he implemented Lean thinking across production and accounting processes.
Soloman wrote Who’s Counting, which received the 2004 Shingo Price for Manufacturing Excellence. He also co-authored the bookAccounting for World Class Operations: A Practical Guide for Providing Relevant Information in Support of the Lean Enterprise, which received the 2008 Shingo Prize for Manufacturing Excellence and Leading Lean, The Making of a Kaizen Event.
Solomon has a bachelor’s degree from Clarkson University, a master’s from Michigan Technological University and an MBA from the University of Chicago.