While Lean Accounting is still a work-in-process, there is now an agreed body of knowledge that is becoming the standard approach to accounting, control, and measurement. These principles, practices, and tools of Lean Accounting have been implemented in a wide range of companies at various stages on the journey to lean transformation. These methods can be readily adjusted to meet your company's specific needs and they rigorously maintain adherence to GAAP and external reporting requirements and regulations. Lean Accounting is itself lean, low-waste, and visual, and frees up finance and accounting people's time so they can become actively involved in lean change instead of being merely "bean counters."rnCompanies using Lean Accounting have better information for decision-making, have simple and timely reports that are clearly understood by everyone in the company, they understand the true financial impact of lean changes, they focus the business around the value created for the customers, and Lean Accounting actively drives the lean transformation. This helps the company to grow, to add more value for the customers, and to increase cash flow and value for the stock-holders and owners.rnBrian Maskell, a well-known speaker, and the president of BMA Inc., has written six books on topics related to lean accounting, and has 25 years' experience in industry. Bruce Baggaley, the senior partner of BMA Inc., is a regular presenter of workshops on lean accounting at AME events, and is co-author of a book on practical lean accounting.
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