Before this course, professionals in accounting departments may find themselves battling inefficiencies and outdated practices, struggling to keep up with the demands of modern business environments. The challenges of streamlining processes, from billing to payroll, and implementing effective lean principles can seem overwhelming. This can lead to a lack of agility and effectiveness in supporting business objectives.
After completing "The Lean Accounting Guidebook" course, participants will experience a significant transformation in their approach to accounting operations. The course bridges the gap between traditional practices and lean, efficient processes. It provides a detailed roadmap for restructuring the accounting department, with practical tips for improving billing, collections, cost accounting, and more. Participants will learn how to accelerate the closing process, manage credit losses effectively, and increase inventory record accuracy. Armed with these insights and tools, they will be well-equipped to transform their accounting departments into models of efficiency and effectiveness, aligning with the highest standards of world-class organizations.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Cite the tools used to create a lean accounting system.
Chapter 2
Identify the techniques used to reduce billing problems.
Chapter 3
Note the steps in the processing of cash receipts.
Chapter 4
Cite the techniques used to streamline the processing of payables.
Chapter 5
Note the methods available for creating a leaner payroll process flow.
Chapter 6
Recognize the revisions used to accelerate the closing process.
Chapter 7
Cite the types of protections available for mitigating credit losses.
Chapter 8
Recognize the tools used to manage the collections function.
Chapter 9
Note the methods used to increase inventory record accuracy.
Chapter 10
State the types of traditional cost accounting reports, and the situations in which these reports can be used or avoided.
Recognize the characteristics of lean production environments, pull systems, and bottleneck-focused systems.
Note the situations in which work-in-process tracking is not required.
Chapter 11
Cite the effects of interest capitalization and the capitalization limit on fixed asset recordation.
Chapter 12
State the effects of an acquisition on the general ledger.
Recognize the arguments favoring a reduction in the number of general ledger accounts.
Chapter 13
Recognize the methods used to streamline and verify the budget model.
Chapter 14
Note the techniques available for minimizing employee movement within the accounting department.
Recognize the available solutions for minimizing record misfilings and locating missing records.
Chapter 15
Identify the situations in which weak controls are acceptable.
Cite the situations in which separation of duties is needed.
Describe how the outlier analysis concept can be used.
Recognize how controls can fail in special situations, such as during acquisitions, employee turnover, and rapid growth.
Major Topics
Overview of Lean Accounting
Lean Customer Billing
Lean Cash Receipts
Lean Accounts Payable
Lean Payroll
Lean Financial Statements
Lean Credit Management
Lean Collections
Lean Inventory Accounting
Lean Cost Accounting
Lean Fixed Asset Accounting
Lean General Ledger Environment
Lean Budgeting
Lean Filing
Lean Controls and Procedures
