Lean accounting refers to a collection of principles, practices, and tools that are used by lean companies to measure the business, control operations, analyze and make sound financial decisions, and improve financial processes. Lean accounting practices have been around since the early 1990s, and since then there have been some that argue that lean accounting practices don't comply with generally accepted accounting principles (GAAP). This argument usually leads to a debate about lean accounting versus conventional inventory valuation systems.
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