Seminar on Lean Accounting 2011 – A Practical Approach by Brian H Maskell, President, BMA, Inc

Posted on February 2, 2011. Filed under: Uncategorized |

Confederation of Indian Industry and the Kaizen Institute (India) Pvt Ltd is organizing a Seminar on Lean Accounting 2011 – A Practical Approach by Brian H Maskell, President of BMA, Inc is being held on Saturday, 19 February 2011 at 1000 hrs at Hotel Rain Tree, Anna Salai, Chennai. 

Background: As we move into the 21st century there are new challenges facing manufacturers. They must master the methods of world class manufacturing including lean manufacturing … empowerment of people, and production flexibility…The next step is to move lean concepts into the “back room” and to put the accountants on the lean team.

Lean Accounting is intended to replace traditional accounting and measurement systems; it is not intended be an additional analysis

Lean Accounting uses specific tools for understanding the impact of lean changes on the company financially.

A Successful Lean Team Steps Up with a Proven Approach

Replacement of standard costing with costing of the value stream: As a company seriously applies lean, Value stream costing becomes more relevant and “accurate” for managing the value stream. This step (and it is a big one for many companies) eliminates almost all of the wasteful transactions associated with traditional cost accounting. In addition, it gives the value stream manager (and other interested parties) more information that is valid. Decisions that used to involve standard costs now use value stream profitability and contribution margin. These decisions include pricing, profitability, make/buy decisions, new product introduction, product and customer rationalization, etc.

Value stream cost analysis: This tool is used to understand where the costs are in the value stream and where the available capacity is. It requires an understanding of flow through the bottleneck (or constraint) operations within the value stream.

Driving the business from customer value: This is what we are striving towards. We use QFD and target costing to drive our business from customer value and not from cost. We need a profound understanding of how we create value for the customer; we need an understanding of where our costs are in the value stream; we compare where we create value with where we expend cost; and we initiate kaizens to bring value and cost into line.

However, Lean Accounting is more than a set of tools relating to measurement, capacity usage, value, and continuous improvement. Together these tools become a lean business management system that is radically different from traditional management.

Implementing Lean Accounting requires a maturity path. It is important to know where the company is with lean manufacturing. It is only as we bring the processes under control through lean thinking that we can step -by – step – dismantle the wasteful, misleading, and actively harmful traditional accounting systems.

Timing is also important. We should address Lean Accounting only when people recognize a problem with the old accounting.

Key Learning Outcomes:

– Why traditional management systems are anti-lean and hold back lean progress

– How Lean Accounting information gives you better decisions, higher sales and lower costs.

– How to correctly assess the financial impact of your lean changes and how to maximize the financial benefits

– How to establish a value stream organization

– How to create performance measurements at every level of the organization that drive to the company strategy

– How to create visual management for control of your processes

– How to develop and use visual performance measurements that motivate daily lean improvement

–  Creating timely & simple financial reports giving the value stream team – members real information for controlling & reducing costs.

–  How to create a standard Box Score that is used throughout the organization for performance reporting, decision-making and problem solving

–  How to eliminate waste and simplify the processes by eliminating wasteful and unnecessary implement Lean Accounting Methods into your company.

The seminar is fast moving and practical. You will work on 3 hands-on, real-life exercise & view video case studies of interviews with people in companies using Lean Accounting.

We strongly recommend you to participate and also nominate your colleagues to benefit from the Seminar scheduled on 19 February 2011 at Hotel Rain Tree, Chennai.

* click here to register for the seminar on lean accounting *

For further information, please contact Ms K Savitha at savitha@cii.in / 91 44 4244 4555 (Ext: 539)

We look forward to your participation.

Yours sincerely,

Madhu Vasanthy                                                                                                            
Director
Confederation of Indian Industry-Southern Regional Headquarters

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About Brian H Maskell:

Brian H. Maskell – President of BMA Inc, USA

BMA Inc. serves the needs of companies striving to become world class organizations meeting the challenges of the 21st century BMA Inc. are experts in Lean Accounting

Over 30 years experience in manufacturing and distribution industry

Author of 5 books including:

– Practical Lean Accounting (2003)

– The Lean Business Management System (2007)

– Performance measurement for World Class Manufacturing (1991)

– Making the Numbers Count; the accountant as an agent of change (1996) & 

– Life’s Little Lean Accounting Instruction Book (2006)

Conducts seminars and workshops around the world

Mr Maskell has an engineering degree. He is certified with the Chartered Institute of Management Accountants (CIMA) in London.

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