Lean CFO Blog

Lean Accounting & Standard Costing Variances

Posted on January 26th, 2017 by Nick Katko | No Comments

A standard costing system generates rate & volume variances by design. Standards are entered into the system, actual is reported into the system and variances are created. Because standards are used to value inventory and cost of goods sold, actual variances are reported on the income statement to bring the financial statements back to actual.

Lean Accounting & Standard Costing: An Introduction

Posted on January 19th, 2017 by Nick Katko | No Comments

If you are in the accounting department in a lean manufacturing company, and your company uses a standard costing system, it is inevitable that the accounting department will be faced with confronting how its standard costing system is being used. I stress the term inevitable, because based on my own experience both as a CFO

Recent Posts
Recent Comments
Archives
Contact Nick
- nkatko@strategicfinancialsolutions.net
- Name*
- Email*
- Phone
- Inquiry*
- Message*
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.
Read more

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.