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
Milwaukee School of Engineering reserves the right to revise at any time, without notice, any and all programs, fees and costs stated herein in accordance with the best academic and industrial standards as recommended by its advisory committees. The right also is reserved to cancel any course or subject at any time because of insufficient registration or other valid reason.