One Cambridge Center, 5th floor, Cambridge,MA
The workshop will guide financial and operations managers through the necessary changes in finance needed to support lean transformations, which often cause conflicts with long-established accounting systems. You will learn: - 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.