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Lean CFO Blog

Lean Accounting and GAAP/IFRS

Posted on December 20th, 2016 by Nick Katko | No Comments

Some people in the accounting profession make an argument that Lean Accounting is not compliant with GAAP/IFRS (for the rest of this article I will simply use GAAP instead of GAAP/IFRS). This argument usually occurs in manufacturing companies and centers around the Lean Accounting practices of simplified inventory valuation and using a value stream income

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Productivity Matters, Headcount Doesn’t

Posted on December 16th, 2016 by Nick Katko | No Comments

Many companies I worked with over the years require reporting total headcount to management along with explanations as to why headcount changes. What a mistake, especially in a lean company. What should matter to senior management is consistently improving productivity 10-20% annually. Productivity is defined as increasing output with the same resources. People are not

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Departments vs. Value Streams

Posted on December 08th, 2016 by Nick Katko | No Comments

I’ve seen some accountants understand value streams in a lean organization, and have also seen others not be able to grasp the concept. Understanding the role & function of value streams in a lean business is essential for accountants because it serves as a foundation for moving to lean accounting. Lean companies organize their entire

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  • Recent Posts

    • The Matching Principle and the Value Stream Income Statement
    • Lean Decision Making: Production Cost Analysis
    • Lean Decision Making: Material Cost Analysis
    • Lean Decision Making Framework: General Guidelines
    • Creating a Value Stream Income Statement
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    • Contact Nick

      • nkatko@strategicfinancialsolutions.net
    • Nick’s Lean Accounting Journey

      Nick Katko is one of the early pioneers of Lean Accounting. As a CFO in the 1990’s Nick implemented a complete Lean Accounting System in conjunction with his company’s lean transformation.

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      Nick has leveraged this experience along with his strong accounting background to assist companies resolve the real-world issues they face when implementing lean accounting. He facilitated Lean Accounting implementations with a wide range of companies, from multi-national companies such as Boeing, Parker-Hannifin, Novartis and Nestle to privately held family businesses. Nick’s industry experience includes applying lean accounting in manufacturing, engineering, food processing, process manufacturing, publishing, education and health care.

      Nick is co-author of The Lean Business Management System; Lean Accounting Principles & Practices Toolkit (2007). Nick’s latest book, The Lean CFO: Architect of the Lean Management System was published in September 2013.

      Nick is a Certified Public Accountant and a member American Institute of Certified Public Accountants and holds a BS in Accounting and an MBA in Finance, both from the University of Kentucky.

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