It is true that the broad results of a half-year's work can be read in unmistakable figures in the balance sheet. But the mischief .......more

A major objective of a business can be stated as securing profits both in the present and the future. The manner in which a business accomplishes this is to provide customer satisfaction, furnish reliable products and services at a reasonable price and cost, and quality and features consistent with or exceeding the customer's expectations. Today's accounting systems are inadequate to provide information required to meet and support these objectives. .......more

If you use a shop floor management system, you are familiar with the frustration of trying to use job tracking reports to improve the bottom line. These reports are retrospective in nature, meaning that they give a snapshot of costing data after the deeds are done, usually in less than user-friendly language. They imply that you can manage manufacturing processes by analyzing job cost accounting numbers and reviewing the results. .......more

Steps to simplify cost management and improve profitability by confronting shop floor reality - while still satisfying GAAP.
 
A case study of one company that has taken the Lean Accounting plunge and learned to swim a new stroke. .......more