LSS Kaizen Event exceeds expectations for CFO

Office of CFO provides insights into the application of Lean Six Sigma into the GSA continuous improvement processes. ...

... "We first applied LSS when presented with a major problem – too many worksheet adjustments outside of our financial system of record and the potential for endangering our clean opinion. As CFO, this made me stop in my pumps – we needed to solve this problem immediately. We introduced LSS to a group of GSA’s accountants and asked them to conduct a kaizen event to determine how to reduce the number and dollar volume of adjustments to our financial statements conducted outside of our financial system of record. The worksheet adjustment team exceeded my expectations and identified several significant actions we could take to ensure adjustments were made earlier in the workflow. Most importantly, we achieved our overall goal – retaining our GSA FY 2009 clean opinion. " ...

http://bit.ly/9x9IJg

Lean Accounting Lacking

Manufacturers in UK could benefit from applying lean accounting practices to complement their manufacturing improvement initiatives. ...

... "manufacturers are not using the right financial metrics in measuring and monitoring their improvements under lean manufacturing. As a result, it could be reducing the benefits available under continuous improvement processes. " ...

Via Birmingham Post: UK Lean accounting

Lean Manufacturing Accounting Principles Discussed in Webinar

In upcoming webinar, Infor will discuss how companies can ensure their accounting practices support their lean initiatives. The webinar is called: Cost Accounting & Financial Accounting Contradictions that Undermine Your Lean Manufacturing Success. The webinar will be held February 28, 2007 from 2:00 PM – 3:00 PM EDT, hosted by Mike Frichol, CPIM, Vice President, Global Industry & Product Marketing, Infor. Registration. ...

... "Today's manufacturing landscape is riddled with demand fluctuations, pricing and compliance pressures, and ever-extending supply chains. In an effort to improve efficiency in their manufacturing facilities, many companies have implemented Lean processes to achieve significant production performance gains. However, there is a largely unrecognized need to introduce revised costing and management accounting methods that provide a more realistic financial view of performance within a Lean context. " ...

Via Infor: Infor Webinar Highlights Accounting Principles That Drive Lean Initiatives Throughout the Enterprise

Lean Accounting Seminar

Timken leader will present lean accounting techniques at local seminar. ...

... "Tuesday, Feb 20: Michael Discenza, the operations controller for the Timken Co., will hold a Lean Accounting seminar at 5 p.m., at the New Hampshire Technical Institute at 320 Corporate Drive, Pease International Tradeport. As management accountants strive to evolve into full business partners, understanding how Lean and Six Sigma tools can improve your company's performance is critical to success. " ...

Via Portsmouth Herald: Link