222

$show=home

Welcome to Accounting Education

The Accounting University with 3400+ Accounting contents as study material which can watch, read and learn anyone, anywhere.

Start your studies

$show=home

Journal Entries $type=three$count=6$author=hide$comment=hide$label=hide$date=hide$show=home$s=0

Balance Sheet $type=three$count=6$author=hide$comment=hide$label=hide$date=hide$show=home$s=0

Lean Accounting Simplified

We all know, change is the rule of world. In this world, we see everything is changing. So, accounting is also not an exception of this. Lean accounting is also a new system of accounting which is trying to modernization of accounting.

What is Lean Accounting?
What is the Aim of Lean Accounting?
What are the Tools of Lean Accounting?

What is Lean Accounting?

Lean accounting is the support to the business by controlling the waste, loss and defects. Instead of using old accounting methods like each transaction recording, standard costing, ABC, variance, it is fully dedicated  to measure the performance and to increase it at low cost.

In simple words

1. It gives time to measure the performance. For example, businessman is interested to know the sale per employee instead of time taken. Just recording the time of employee is not important if he does not achieved the target. We have to take decision to promote and to demote on the basis of performance of employee. So, lean accounting will record the performance and left all other work.

2. Lean accounting will also do best to explain the financial statement in simple words.

3. It is the value base accounting. Today time is the time of value. For example, we can take the example of a salesman who sells the products on the mobile. When he will talk to you, you can note the value in his words. Suppose, he want to sell gold loan to you. If he will talk useless for half hours, it will be the big loss of your time value and money cost if it is under roaming.

What is the Aim of Lean Accounting? 




One of aim of lean accounting is for better wholesale marketing price decision. In the interview, Lean consultant Bill Waddell explained same. Watch following video.




What are the Tools of Lean Accounting?

Following are the main tool of lean accounting.

1. Value Stream Costing

In lean accounting, we make weekly cost reports for better decisions. Company appoint value stream manager who is accountable for cost and profitability.

2. Box Score

In lean accounting, we use the box score for presenting the financial and non-financial information in a sheet.

Following is its example:


In above box score, we are seeing that three type of performance is measuring. One is operational, second is capacity and third is financial. By reading this sheet, we can easily compare with our target, so it is helpful for good decision making which is the main aim of accounting.

3. Target Costing 

Target costing is that tool of lean accounting in which every increase in the cost of product is compared with the customer's satisfaction of customer. Main aim of establishing target cost is to give maximum value to the customer.

Comments

 


Name

access,2,account,86,accountant,95,Accounting,683,accounting definitions,99,accounting ebook,3,Accounting education,85,Accounting Education Ads Help,1,accounting procedure,2,accounting process outsourcing,2,Accounting Software,52,advance,3,advertising,6,africa,7,Amalgamation,6,amendments,16,Amortization,1,announcements,62,Annuity,2,assets,53,audit,47,auditing,41,Australia,2,B.Com.,22,balance sheet,87,bank,111,Bank reconciliation,12,banking,33,basic accounting,110,BBA,1,benefits,13,best,50,bill,12,black money,3,blog,12,bloggers,7,book keeping,4,bookkeeping,3,Branch Accounting - full tutorial,8,budget,35,Budget variance,13,business,65,businessman,9,CA,30,calculator,4,canada,3,capital,72,capital budgeting,27,career,21,cash,40,cash book,8,cash flow statement,11,Chiense,1,children,13,china,6,class,3,coaching,2,coins,2,college,6,commerce,10,commerce students,7,company,36,computer,9,computer accounting,1,conference,4,Contact vinod kumar,1,Control Your Spending,27,corporate accounting,69,cost,160,cost accounting,195,cost center,8,cost centre,1,CPA,2,credit,18,credit card,11,cs,10,currency,35,data,11,Debit and credit,17,debit cards,1,debt,62,debtor,21,degree,6,depletion,2,depreciation,38,Diwali Messages,12,documents,4,dollar,5,domain,3,Downloads,3,Dubai,1,e-accounting,17,earning,17,education,246,Education Loans,6,email,15,employee,4,EPF,2,ERP,7,euromoney,1,examination,7,excel,17,excise duty,6,expenses,65,facebook,7,factor of loan,1,fans,2,feature,32,fifo,5,FII,4,fiji,1,finacle,1,finance,823,Finance Journal Entries,6,Financial,134,financial accounting,147,Financial Statements,4,fire insurance,3,flickr,2,flow,4,forensic,4,forex,21,formula,8,france,1,fraud,6,free,2,fun,34,function,1,fund,48,GAAP,36,GDP,1,gdr,5,germany,1,gold,7,goodwill,4,goodwill accounting,3,google,34,google apps,3,google apps,1,google base,1,google buzz,1,google calendar,1,Google docs,38,google finance,3,google fusion tables,1,google talk,5,govt.,5,GST,33,guide,85,health,6,Hindi,2,Hindi Language,3,history,3,holding company,3,How to treat FBT in Tally 9,1,HRA,3,ICAI,11,ICAWI,3,ICICI Bank,1,IFRS,11,income,17,income statement,19,Income Tax,7,India,57,indian railway,1,Indonesia,1,inflation,4,inflation accounting,3,infographics,8,information,7,inspiration,176,insurance,14,insurance accounting,2,Intangible,3,interest,26,international,7,Internet,40,Introduction of Tally 9,1,inventory,41,investment,135,investment in Shares,6,invoice,3,IT,1,Japan,1,Job costing,4,journal entries,143,Journal Entries eBook Help,4,Kalculate,1,keyboard,3,kuwait,2,laptop,2,law,4,LBT,1,learning,36,lease,5,lecture,11,ledger,17,leducation,1,Leverage Analysis,7,liabilities,16,lifo,3,linkedin,1,loan,74,logical point,1,loss,5,loss of profit,1,M.Com.,5,m.phil,2,malaysia,3,management accounting,129,manual accounting,4,manufacturing account,1,market,11,marketing,3,mastercard,2,material,13,MBA,14,MCA,1,media,4,migration,2,mobile,9,money,61,ms word,3,ms. excel,14,multi currency in tally 9,1,Multicurrency Accounting,3,mutual fund,30,national security,1,new and sacrifice ratio,1,new york times,1,new zealand,1,news,1,NGO,5,nonprofit-accounting,6,North Georgia Mountains,1,Notification,1,NPV,17,NSE,1,odbc,2,office,10,oman,1,online application,2,online accounting,11,Online Accounting Course,5,otcei,1,pakistan,3,parents,3,Partnership,1,pay pal,3,pdf,4,Personal Finance,6,pie chart,1,pie chart of income,2,pnb,5,podcast,1,ppf,1,presentation,10,price,7,privacy policy,2,prof. vinod kumar,13,profit,24,profit and loss account,12,project management,11,provision,14,purchase,9,puzzles,2,quickbooks,2,Quote,22,quotes,42,quotes of svtuition,1,rating agency,2,ratio analysis,34,RBI,7,readers,13,real estate,13,rectification of errors,11,remote control,2,reports,10,reserves,8,responsibility accounting,4,retirement,2,revenue,3,Revenue reserves,2,review,7,risk,11,rupees,9,salary,5,sale,12,SAP,3,saudi arabia,1,saving,19,sbi,9,scholarship,2,school,1,SEBI,13,security,30,service tax,23,share,20,share trading,15,Shares,16,shri lanka,3,singapore,2,sms,6,social accounting,7,society,5,solution,219,South Africa,1,stock,24,stock exchange,22,structure,6,student,39,students,70,study,21,subsidiary company,2,svtuition,14,swiss bank,2,tally,100,tally 9,8,Tally 7.2,8,Tally 9,42,Tally.ERP 9,59,TallyPrime,1,tanzania,2,tax,94,Tax Accounting,30,TDS,15,teacher,62,teaching,112,technology,33,test,40,testimonial,15,testimonials,15,thailand,1,tips,60,trading,5,trading on equity,2,transaction,7,trend,12,trial balance,14,truthfulness,1,tuition,3,twitter,10,UAE,5,UGC - NET Commerce,13,UK,11,United Arab Emirates,1,university,9,usa,25,valuation,9,VAT,22,Video,36,Voucher and vouching,4,Wealth,8,wikipedia,25,working capital,29,youtube,14,
ltr
item
Accounting Education: Lean Accounting Simplified
Lean Accounting Simplified
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZTQLCGbEqfxKysC1sSMs_inwwjVlU3SXeLSCuRTlYKQ-tgBnDsFsCYivyuCBtELVR7W72FqtEe1MC1uOECmu9shIgPGLUkrwPhUSiq1GGTUzapi8qp8r2ZG2dhXq7m0X-E5GMp7iyW42C/s640/aim+of+lean+accounting.PNG
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZTQLCGbEqfxKysC1sSMs_inwwjVlU3SXeLSCuRTlYKQ-tgBnDsFsCYivyuCBtELVR7W72FqtEe1MC1uOECmu9shIgPGLUkrwPhUSiq1GGTUzapi8qp8r2ZG2dhXq7m0X-E5GMp7iyW42C/s72-c/aim+of+lean+accounting.PNG
Accounting Education
https://www.svtuition.org/2012/09/lean-accounting-simplified.html
https://www.svtuition.org/
https://www.svtuition.org/
https://www.svtuition.org/2012/09/lean-accounting-simplified.html
true
2410664366776677676
UTF-8
Loaded All Posts Not found any posts VIEW ALL Reply Cancel reply Delete By Home PAGES Contents View All RELATED CONTENTS FOR YOUR LEARNING Topic ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy