This document provides an overview and agenda for seminars on implementing lean accounting principles to grow revenues and profits. It outlines how traditional cost accounting focuses on control and past performance, while lean accounting prioritizes continuous improvement, eliminating waste, and meeting customer needs. The document compares traditional standard costing methods to lean target costing and cost management, noting how lean principles can change behaviors, metrics, and financial reporting to better support organizational goals.
1. Preview to “ Growing Revenues and Profits With Lean Beans” One-Day Seminars 2010 Two-Day Workshops March & April 2010
2. Financial Executive Research Foundation Lean Accounting Overview Lean Recreates the Financial System Conclusion 1 2 3 4 Traditional Standard Cost vs Lean Target Cost Agenda
3.
4.
5.
6.
7.
8.
9. Target Cost The New Lean Cost System A Target Cost is the allowable amount of cost that can be incurred on a product and still earn the required profit from that product. Target Cost = Market Price – Target Profit
10. Financial Reporting And GAAP Standard Cost vs. Target Cost Internal Performing “Stretch” Goals Internal Measurement Management Accounting and Contribution Margin External Measurement Ties to the “Books” Standard Cost vs. Target Cost
