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SafetyChain Blog

The Limitations of Standard Costing: Why Lean Accounting Can Take You Further

Posted on Nov 8, 2021 10:56:52 AM

As more companies search for ways to stay viable in a lightning-fast, global economy, lean thinking has become an increasingly successful way for companies to adapt more quickly and remain competitive. However, many organizations have attempted to implement lean thinking without moving to a lean accounting model. Accounting departments are trying to reconcile a lean organization with standard costing and running into significant difficulties. Lean accounting represents a shift in how companies use collected data to make essential decisions around quality, production, and more. We'll start with the basics to understand why and how lean must translate to accounting.

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Topics: Lean Accounting, lean manufacturing

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