Lean Accounting: Best Practices for Sustainable Integration / Edition 1

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Overview

Lean Accounting: Best Practices for Sustainable Integration

Why are some established lean enterprises so durably successfulwhile so many others fail miserably? Because many companies attemptto adopt lean production techniques piecemeal, without fullyunderstanding the company-wide implications of lean productionmethods. In Lean Accounting: Best Practices for SustainableIntegration, the field's most innovative thinkers prepare CFOs andaccounting/finance staff to alter their traditional accountingpractices to fully meet the demands of lean productionprinciples.

Starting with the Foreword by Peter Senge, Director of the MITSloan School of Management, Lean Accounting presents the collectedinsights of some of the most experienced lean accounting andperformance measurement practitioners in America—includingrenowned business visionary H. Thomas Johnson. This insightful bookdistills concrete steps that employees at all levels can use toaccomplish the lean transformation together in the workplace.Unlike the Balanced Scorecard, activity-based costing andmanagement, or many of the other tools that can be integrated intothe overall enterprise ecosystem, lean is its ownecosystem—an entirely integrated set of subsystems thatcannot be adopted in a here-and-there fashion to manage a limitednumber of enterprise activities. Lean Accounting providesperspectives on the ways that established lean enterprises treataccounting and performance measurement practices as subsystems thatsupport an integrated approach to product and service delivery.

Organized into three comprehensive parts, Part One addresses thelean principles, enterprise design, and leadership characteristicsthat form the foundation of a successful lean transformation. PartTwo discusses adaptive thinking in the appropriate application oflean performance measurements and the way lean systems use leanmeasures to intrinsically motivate continuous employee performanceimprovements. Part Three builds on this foundation with anin-depth exploration of the accounting challenges that support theprinciples and goals of the lean system environment, such asstandard costing methods, regulatory compliance, the shortcomingsof traditional accounting systems and tools, pricing customproducts without a standard costing system, the waysthat accounting motivates behavior in the lean enterprise, systemdesigns for lean accounting, barriers to lean accounting,customer-driven lean cost management, and strategic deployment'todrive profitable growth.

The Toyota Production System is unquestionably the gold standardof lean practices, marked by continuous, sustainable adaptation andwell-being that place Toyota at the top of a highly competitivemarketplace. The book provides an in-depth chapter-by-chaptertreatment of the many different ways that Toyota uses itsintegrated system to maintain its competitive advantage. Inaddition, each chapter describes clear steps to help executiveleaders and managers work with fellow employees to lay down thecultural foundations necessary to support sustainable leanprocesses.

A must-read for all CFOs, controllers, management accountants,and consultants, Lean Accounting will help readers readily adapttheir practices in the lean manufacturing environment.

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Product Details

  • ISBN-13: 9780470087282
  • Publisher: Wiley
  • Publication date: 4/6/2007
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 352
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.94 (d)

Meet the Author

Joe Stenzel is Editor in Chief of Cost Management.

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Table of Contents

Foreword.

Introduction.

About the Contributing Authors.

Part I Lean Essentials.

1 LEAN DILEMMA: CHOOSE SYSTEM PRINCIPLES OR MANAGEMENTACCOUNTING CONTROLS—NOT BOTH (H. ThomasJohnson).

1.1 LEAN CURE: SYMPTOM VERSUS ROOT CAUSE.

1.2 BUSINESS RESULTS: MECHANISM VERSUS LIFE SYSTEM.

1.3 CONFUSION OF LEVELS: LEAN PRACTICES VERSUS TOYOTARESULTS.

1.4 MANAGEMENT ACCOUNTING CONTROL SYSTEMS BLOCK LEAN.

1.5 LEAN ACCOUNTING ANSWERS THE WRONG QUESTION.

1.6 ANSWERS TO THE RIGHT QUESTION—FROM SHEWHART AND DEMINGTO TOYOTA.

1.7 MANAGEMENT ACCOUNTING CONTROLS OR SYSTEM PRINCIPLES: PICKONE, NOT BOTH.

1.8 EPILOGUE: LEAN AND THE QUESTION OF SUSTAINABILITY.

2 LIMITED PRODUCTION PRINCIPLES: RIGHT-SIZING FOREFFECTIVE LEAN OPERATIONS AND COST MANAGEMENT (JimHuntzinger).

2.1 LIMITED PRODUCTION VERSUS ECONOMIES OF SCALE.

2.2 LEAN AND RIGHT-SIZING.

2.3 RIGHT-DESIGNING FOR FLOW.

2.4 ONE-PIECE FLOW.

2.5 BEGINNING THE JOURNEY: EXECUTING RIGHT-DESIGN.

2.6 RIGHT-DESIGNING COST MANAGEMENT.

2.7 ALL PARTS AT EQUAL COST.

2.8 THE JOURNEY TO THE PROMISED LAND—PERFECTION.

2.9 WHAT THE CFO NEEDS TO UNDERSTAND AND COMMUNICATE DURING ALEAN TRANSFORMATION.

3 LEAN STRATEGY AND ACCOUNTING: THE ROLES OF THE CEOAND CFO (Orest Fiume).

3.1 LEAN STRATEGY RESULTS.

3.2 EASY TO AGREE WITH, HARD TO DO.

3.3 WHAT DOES IT TAKE TO IMPLEMENT A LEAN STRATEGY?

3.4 THE ROLE OF THE CEO.

3.5 LEAN AFFECTS ACCOUNTING.

3.6 THE ROLE OF THE CFO.

Part II Performance Management.

4 CREATING A NEW FRAMEWORK FOR PERFORMANCE MEASUREMENTOF LEAN SYSTEMS (Bruce Baggaley).

4.1 THE PROBLEMS WITH TRADITIONAL PERFORMANCE MEASURES.

4.2 SOLUTION TO THE PROBLEMS.

4.3 A STARTER SET OF LEAN PERFORMANCE MEASUREMENTS

4.4 SUGGESTIONS FOR IMPLEMENTATION.

5 MOTIVATING EMPLOYEE PERFORMANCE IN LEANENVIRONMENTS: RESPECT, EMPOWER, SUPPORT (Frances Kennedyand Peter Brewer).

5.1 ENTERPRISE EXCELLENCE AND PEOPLE.

5.2 INNOVATION AND PEOPLE.

5.3 THE POWER OF RESPECT.

5.4 TWO VIEWS OF PERFORMANCE MOTIVATION.

5.5 EMPOWERMENT AND PERCEPTIONS.

5.6 MANAGEMENT CONTROL SYSTEMS AND LEAN REGULATORY SYSTEMS.

5.7 SUPPORTING LEAN PERFORMANCE MEASUREMENT.

5.8 ACCOUNTING, LEAN PERFORMANCE, AND THE EMPOWEREDWORKFORCE.

5.9 SUPPORTING THE TRANSFORMATION TO LEAN.

Part III Lean Accountancy.

6 ON TARGET: CUSTOMER-DRIVEN LEANMANAGEMENT (Dr. C. J. McNair, CMA).

6.1 THE ECONOMICS OF THE CUSTOMER.

6.2 COST: A CUSTOMER’S PERSPECTIVE.

6.3 CUSTOMER-DRIVEN LEAN MANAGEMENT: AN EXAMPLE.

6.4 VALUE SEGMENTATION.

6.5 USING CUSTOMER PREFERENCES IN SEGMENTATION.

6.6 PUTTING THE CUSTOMER PERSPECTIVE INTO ACTION.

6.7 BUILDING THE CUSTOMER IN: A SERVICE PERSPECTIVE.

6.8 CLM: THE PATH FORWARD.

7 VALUE STREAM COSTING: THE LEAN SOLUTION TO STANDARDCOSTING COMPLEXITY AND WASTE (Brian Maskell and NicholasKatko).

7.1 THE PROBLEM WITH STANDARD COSTING.

7.2 STANDARD COSTING IS ACTIVELY HARMFUL TO LEAN.

7.3 VALUE STREAM COSTING.

7.4 THE ADVANTAGES OF VALUE STREAM COSTING.

7.5 CLOSING THE BOOKS.

7.6 USING COST INFORMATION TO MANAGE THE VALUE STREAM.

7.7 BUSINESS DECISION MAKING USING VALUE STREAM COSTING.

7.8 VALUING INVENTORY.

7.9 CHAPTER SUMMARY.

8 OBSTACLES TO LEAN ACCOUNTANCY (LawrenceGrasso).

8.1 UNDERSTANDING LEAN AS A MANAGEMENT SYSTEM.

8.2 CULTURAL COMPATIBILITY WITH LEAN MANAGEMENT.

8.3 OBSTACLES TO ACCOUNTANTS CHANGING TO LEAN ACCOUNTING.

8.4 MAJOR DEVELOPMENTS IN MANAGEMENT ACCOUNTING.

8.5 OVERCOMING THE OBSTACLES.

9 LEAN APPLICATION IN ACCOUNTINGENVIRONMENTS (Jean Cunningham).

9.1 GOAL AND FOCUS AREAS.

9.2 KAIZEN EVENTS IN BRIEF.

9.3 HOW TO GET STARTED AND NEVER END.

9.4 WHAT TO EXPECT.

10 SARBANES AND LEAN—ODD COMPANIONS(Fred Garbinski).

10.1 OVERVIEW OF SARBANES.

10.2 Q1: HOW WE GOT TO WHERE WE ARE.

10.3 Q2: WHERE CAN WE GO FROM HERE?

10.4 Q3: ARE THERE COMMON DENOMINATORS BETWEEN SARBANES AND LEANTHAT CAN BE USED AS A SPRINGBOARD FOR THE FUTURE?

10.5 EXAMPLES OF INTEGRATING LEAN WITH SARBANES.

10.6 WHAT’S NEEDED TO INTEGRATE LEAN WITH SARBANES.

11 THE NEED FOR A SYSTEMS APPROACH TO ENHANCE ANDSUSTAIN LEAN (David S. Cochran, PhD).

11.1 INTRODUCTION TO COLLECTIVE SYSTEM DESIGN.

11.2 ACCOUNTING FOR LEAN COMMUNICATIONS.

11.3 THE JOURNEY TO ACCOUNTING FOR LEAN.

11.4 OBSTACLES TO SUSTAINABLE LEAN.

11.5 THE ESSENTIALS OF SYSTEMS DESIGN WHEN ACCOUNTING FORLEAN.

Glossary.

Index.

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