Lean accounting, simply defined, is the application of lean thinking to all accounting and finance systems and processes. What is unique about lean accounting, compared to other applications of lean thinking, is how it is applied to the roles of accounting.
The overriding purpose and goal of lean thinking, in any industry, is to serve customers better. In accounting processes, what customers want is common knowledge, such as paying invoices on-time or closing the books quickly. In lean accounting, it’s about how to deliver these products and services in the least wasteful waypossible. Lean accounting is about paying invoices on-time without having to get last minute approvals. Lean accounting is closing the books on-time without working punishing overtime.
In this webinar you will learn the 4 foundational practices of lean accounting and how to apply them to improve payables, receivables and month-end close.
About Nick Katko
Nick is the President and owner of BMA. Since 2002, Nick has leveraged his Lean Accounting experience and philosophy in assisting BMA clients in developing, leading and coaching them in their Lean Accounting transformations. Clients Nick has served range of organizations world-wide from family-owned businesses to multi-national companies in industries such as manufacturing, healthcare, software, engineering and service.
Nick is an early pioneer of Lean Accounting. In the 1990’s, as CFO of Bullard, Nick implemented a complete lean management accounting system in conjunction with Bullard’s Lean transformation, which included eliminating standard costing.
Nick is a regular speaker at the annual Lean Accounting Summit and has also presented at conferences in the United States, Europe, Asia and Australia.
Nick latest book is “Practicing Lean Accounting” that was published in September 2021. He is the author of “The Lean CFO” (2013), which has been translated into Turkish and Italian, and co-author of “The Lean Business Management System” (2007).