BMA Inc. 
Intermediate level
 

Financial management practices for the lean organization

Improving financial management practices for profitable growth
Highlights

Learn how and why organizations must change their thinking about financial success in a lean organization. Discover the methods of lean accounting and how each works in a lean company - value stream management, lean performance measurements, value stream income statement, value stream capacity. Gain insights into lean financial management and analysis practices to evaluate business decisions such as profitability analysis, cost management, financial planning, investment analysis and value stream financial management. Learn how to develop lean financial coaches.

Overview

We know that focusing an organization on customer value will result in revenue growth, and that the deployment of lean tools and techniques that create flow and eliminate waste will result in improved cost management. These are the economics of lean. But before any of that appears, a fundamental shift must occur in what and how an organization measures itself operationally and financially. Financial management must be aligned with the economics of lean, and that’s what lean accounting is all about. To achieve success, a lean organization must develop an effective and efficient management accounting function that complements its financial accounting system to provide a knowledge base for effectively making decisions about the future. Learn how to build and use a lean management accounting system to make relevant information available to decision-makers on a timely basis. Use A3 forms to develop target conditions for financial management practices in your organization, understand your current state and develop some specific actions to guide your organization to lean financial management practices.

Company

BMA Inc. is the world’s leading lean accounting training and consulting firm. Its comprehensive education classes and lean accounting implementation approach are designed to create a robust, sustainable lean accounting system for any lean organization. www.maskell.com

Presenter: Nick Katko

Nick Katko is president of BMA Inc., and has leveraged his lean accounting experience and philosophy in assisting clients in developing, leading and coaching lean accounting transformations. He has also provided selected clients with lean strategy and lean office guidance. His clients range from family-owned businesses to multi-national companies in industries such as manufacturing, healthcare, software, engineering and service. In the 1990s, as CFO of Bullard, he implemented a complete lean management accounting system in conjunction with Bullard’s lean transformation, which included eliminating standard costing. Katko is author of “The Lean CFO" and is co-author of “The Lean Business Management System." He is a certified public accountant, has a BS in accounting and an MBA in finance, both from the University of Kentucky