Lean Accounting

Lean accounting is the application of lean concepts and methodologies to drive waste out of the accounting process, just like any other process. Accounting for Lean is modifying the accounting process and internal management reporting to promote lean behaviors and provide more timely, accurate, and customer-focused information. The benefits of lean accounting include eliminating waste, providing more timely and accurate information, freeing up accounting resources, and allowing accountants to be more navigators than historians. Implementing lean accounting requires taking out the waste of the accounting process, which will allow for a successful transition to accounting for Lean.