Write short note on objects of Lean Accounting.
Answers
Accounting practice should closely follow changes in the operation of a business
Traditional cost management systems may not work well in the lean environment. Changes in structural and procedural activities for lean manufacturing change
Product-costing
Operational control
Although there are many different examples that date back to the 1400’s, Henry Ford was the first to experiment with lean manufacturing around 1913. What people first saw from this process was the development of the assembly line which allowed cars to be made at a much faster pace than had previously been done. The problem with the system that Ford developed though was that it offered no variety.
accounting. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.