Lean Accounting Workshop Clarifies Management Accounting for Lean Transformations

CAMBRIDGE, Mass.--(BUSINESS WIRE)--A Lean Accounting workshop presented Sept. 30, 2010, by the nonprofit Lean Enterprise Institute (LEI) will help managers and executives in finance and operations understand the accounting changes they have to make to support a lean transformation. The workshop will run from 8 a.m. to 4 p.m. at LEI’s Cambridge, MA, office, One Cambridge Center.

Lean Accounting Workshop

http://www.lean.org/Workshops/WorkshopDescription.cfm?WorkshopEventId=21&WorkshopId=14

Lean transformations often cause conflicts with long-established accounting systems as companies transition from batch production to flow. For example, profits can appear lower as the lean effort trims excess inventories, even though cash flow improves dramatically. Executives and financial managers must know how to transform routine accounting practices to a new system that not only is lean itself but also supports lean principles.

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 accounting systems so information is reported faster.
• Why lean is a business strategy that transforms the entire organization.
• The proven methodology for implementing a lean accounting system

Lean Thinking

Workshop instructor Orest Fiume, former vice president of finance and administration of The Wiremold Company and co-author of Real Numbers: Management Accounting in a Lean Organization, led the company’s conversion to lean accounting, a key element in its adoption of lean management. While at Wiremold, Fiume went on to install lean accounting at more than 20 Wiremold acquisitions.

Pricing and Discounts

The $800 fee includes tuition, training materials, breakfast, lunch, and snacks. For complete details about content, discounts, room rates, and to register, go to: http://www.lean.org/workshops/workshopcalendar.cfm?cureventid=54 , call 617- 871-2900, or email [e-mail] .

Who Benefits

The workshop will benefit CEOs, CFOs, COOs, presidents, and other leaders of companies pursuing lean transformations.

Lean Enterprise Institute

http://www.lean.org/

Lean Enterprise Institute, Inc., was founded in 1997 by management expert James P. Womack, Ph.D., as a nonprofit research, education, publishing, and conference company with a mission to advance lean thinking around the world. We conduct research projects and support other lean initiatives such as the Lean Education Academic Network, the Lean Global Network and the Healthcare Value Leaders Network. Visit LEI at http://www.lean.org for more information.