Lean Accounting Workshop Explains the Logic, Key Principles, Plus a Proven Methodology to Create a Lean Accounting System

Orest Fiume, a former vice president of finance and co-author of Real Numbers: Management Accounting in a Lean Organization, will conduct the workshop, April 12, 2013, at the Lean Enterprise Institute.

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Beginning with an introduction to lean accounting, the workshop also will cover performance measurement, cost management, inventory accounting, budgeting, the P&L statement, and a step-by-step process for implementing lean accounting.

Cambridge, MA (PRWEB) April 03, 2013

The nonprofit Lean Enterprise Institute (LEI) will present the workshop Lean Accounting to help managers and executives in finance and operations understand and implement the necessary changes to support a lean transformation.
The workshop will run April 12, 2013, from 8 a.m. to 4 p.m. at LEI’s Cambridge, MA, office, 215 First St.

The workshop provides a leadership perspective on lean accounting systems and practices that unlock the true profit potential of lean management and reveal the necessary changes in finance needed to support a lean transformation.

Accounting for Lean Management
The workshop will guide financial and operations managers through the necessary changes in finance needed to support lean manufacturing transformations, which often cause conflicts with long-established accounting systems. The workshop explains:

  • Why traditional management accounting doesn’t support lean transformations.
  • How to create plain-English financial statements that nonfinancial managers can use for decision making.
  • How to eliminate waste from the accounting system so information is reported faster.
  • Why lean is a business strategy that transforms the entire organization.
  • The logic and proven methodology for creating a lean accounting system that accurately reveals the benefits of a lean transformation that are hidden by traditional financial statements. (For example, significant productivity gains and profits can appear lower as inventories are reduced, even though cash flow improves dramatically.)

Beginning with an introduction to lean accounting, the workshop also will cover performance measurement, cost management, inventory accounting, budgeting, the P&L statement, and a step-by-step process for implementing lean accounting as operations move from batch-and-queue production to flow.

Who Should Attend
The workshop will benefit CEOs, CFOs, COOs, presidents, and all leaders of companies pursuing lean transformations.

Lean Thinking
Workshop instructor Orest Fiume, former vice president of finance and administration of The Wiremold Company, led the company’s conversion to lean accounting, a key element in its adoption of lean management. The transformation was made famous in Lean Thinking by James P. Womack and Daniel T. Jones. While at Wiremold, Fiume also developed accounting systems that supported the company’s entire lean business efforts and went on to install lean accounting at more than 20 Wiremold acquisitions.

Attendees will receive a copy of Real Numbers: Management Accounting in a Lean Organization by Fiume and Jean Cunningham.

Pricing and Discounts
The $800 workshop fee includes tuition, training materials, breakfast, lunch, and snacks. For complete details about content, instructors, discounts, room rates, and to register, go to: http://www.lean.org/Workshops/WorkshopDescription.cfm?WorkshopEventId=21&WorkshopId=14 , call 617- 871-2900, or email registrar(at)lean(dot)org.

What is Lean?
The terms lean manufacturing, lean production, or lean management refer to a complete business system for organizing and managing product development, operations, suppliers, customer relations, and the overall enterprise. It requires less capital, material, space, time, or human effort to produce products and services with fewer defects to precise customer desires, compared with traditional modern management.

Toyota pioneered lean management as a complete business system after World War II. During the late 1980s, a research team headed by James Womack at MIT’s International Motor Vehicle Program coined the term “lean” to describe Toyota’s system.

Lean Community Resources
LEI offers a weekly newsletter with lean management news and resources such as case studies, webinars, interviews with executives on lean leadership, and an archive of essays by authors and lean management thought leaders.

Lean Enterprise Institute
Lean Enterprise Institute, Inc., was founded in 1997 by management expert James P. Womack, Ph.D., as a nonprofit research, education, publishing, and conference company with a mission to advance lean thinking around the world. We conduct research projects and support other lean initiatives such as the Lean Education Academic Network, the Lean Global Network, and the Healthcare Value Leaders Network. Visit LEI at http://www.lean.org for more information.