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Home » 'Lean' Accounting Concerned With Value Stream From Customers to Suppliers

'Lean' Accounting Concerned With Value Stream From Customers to Suppliers

September 4, 2015
Industry Week

Lean accounting looks at cost reports on a daily basis, as opposed to after the fact in weekly or month-end reports as is common in traditional accounting; it views capacity as an asset instead of just idle time, and sees inventory as a liability and not an asset.

The lean accounting process itself frees up the time of the financial people by eliminating a great number of transactions, reports, reconciliations and meetings so that they can be less like "bean counters" and more like consultants, providing timely, detailed, focused reports as to costs at any step in customer fulfillment.

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KEYWORDS Business Strategy Alignment financial consultants Global Supply Chain Management Industry Week Quality & Metrics Revenue Management SC Finance & Revenue Management Supply Chain Analysis & Consulting Supply Chain Finance Supply Chain Management: Supplier Relationship Management Technology
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