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What Is Lean Accounting?

Lean Accounting is the application of lean thinking to all accounting and finance processes and systems and is an essential component of a successful lean transformation for any organization.

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What is Lean Accounting?

Lean accounting is the application of lean thinking to accounting. It has two practice areas: providing lean companies with the information they need to make better decisions and continuously improving accounting’s own processes.

Lean Management Accounting

DEFINITION

Lean management accounting is a management accounting system aligned with lean thinking and lean operating practices. It gives users relevant and reliable information to make better business decisions and connects lean strategy with lean operations.

BENEFITS

  • Relevant and reliable lean-based operational and financial information for analysis and decision making
  • One common tool, the Box Score, that connects all decision makers drives lean financial thinking
  • Visibility into how improved operating and capacity performance turns into financial results
  • Understand the true cause-effect relationships between lean operating performance and financial performance
  • Less waste in management accounting, allowing accounting to perform more value-added analyses

The Continuous Improvement System for Accounting

DEFINITION

The Continuous Improvement System for Accounting is a system of practices, built on PDCA, that helps accounting teams control their processes every day and methodically eliminate waste.

BENEFITS

  • 3-level problem solving system to prevent small problems from becoming large problems
  • Reduce the overwork, overburden and frustration on the accounting team
  • Better service to accounting’s customers
  • Improve productivity
  • Manage costs
  • Create a psychologically safe environment for problem solving
  • Higher team morale, as people solve problems and make their own work better
Special Pricing Offer Available

Lean Accounting Certification Program

BMA’s online, self-paced certification courses are designed to demonstrate individual competency and knowledge in understanding the principles, practices and tools of a lean accounting system. You will validate your knowledge by taking quizzes at the end of each class. These certification courses are based on BMA’s proven approach to implementing lean accounting in all types of companies in any industry.

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Our Current Books on Lean Accounting

Nick’s newest book

Creating a Continuous Improvement System in Accounting

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The Lean CFO is the best lean book I have read, and I have read them all.  It is perfect for management teams looking to make a huge immediate impact.

-Steven Vitale – President, Midwest Industrial Supply, Inc. -

Nick explains The Lean CFO from direct experience.  Experience as an accountant, as a practicing CFO, as a leading lean accounting thought leader and pioneer, and as a guide and coach to business executives leading their organizations to successful change.  Nick has been there and done that for the lean organization and The Lean CFO is the guidebook and plan.

-Jim Huntzinger – President and Founder, Lean Frontiers -

Lean accounting is the essential backbone of a company’s lean management system because it provides useable and understandable information that aligns lean operations with financial performance.  Classical management accounting and cost management simply cannot meet the instant and immediate information requirements of a lean company. The Turkish Lean İnstitute has worked with Nick has worked several years and translated the first edition of The Lean CFO into Turkish.  We highly endorse the second edition of this book.

-Yalçın İpbüken – President, Lean İnstitute Turkey -

This book takes you on a journey which many would like to travel, and many may have started but not transitioned. Based on practical examples and case studies we get insights into how accounting can progress from transactional processing to a value added function for a lean company by bringing in the analytical skills of your accounting team to support the improvement journey.

-Kevin Bennett – Facilitator, Best Practice Network NSW and QLD, Australia -

As a long-time lean practitioner, I am consistently frustrated with my inability to effectively communicate the wonders and benefits of lean to my financial counterparts.  Low volume, high mix, flexible production seems to constantly conflict with standard cost accounting tools and processes. Enter the Lean CFO. Nick unlocks this disconnect and shows how the benefits of lean flow directly from the shop floor into clear and actionable financial statements.  His writing is concise and makes these concepts simple and easy for the most skeptical finance professional to understand.   The Lean CFO is required reading for our entire management team!

-Jud Barr – CEO, JTB Custom -

The Lean CFO informs us of the holistic approach we must take to achieve the greatest gains from Lean practices. Lean companies require a Lean management accounting system that focuses on flow and maximizing capacity. Nick offers executives a blueprint that is easy to understand and champion.

-Johnson McKnight – CEO, M&M International -
https://youtu.be/z4G9QL1ejBQ
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BMA YouTube Channel

Access Nick’s library of recorded webinars and presentation videos, all organized based on lean accounting practices

Access Lean Accounting Webinars