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Lean CFO Blog

Creating a Value Stream Income Statement

Posted on February 21st, 2017 by Nick Katko | No Comments

Creating value stream income statements is the second part of a lean decision making framework that is not based on a standard costing system. The value stream income statement is an essential element of lean decision making due to how lean practices & methods impact profitability. It’s important for accountants to understand the “lean logic”

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Removing Standard Costing from Decision Making – Part 1

Posted on February 08th, 2017 by Nick Katko | No Comments

Using standard product costs in business decision-making works well in traditional manufacturing companies, because standard costing systems were designed for traditional manufacturing. In lean manufacturing companies, continuing to use standard costing for business decision-making will create conflict and confusion throughout the organization. One of two outcomes can occur when standard costs are used in business

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Lean Accounting & Inventory Reduction

Posted on February 02nd, 2017 by Nick Katko | No Comments

One of the most critical responsibilities accounting must assume, in a lean manufacturing company using a standard costing system, is to explain the financial impact of reducing inventory. Most manufacturing companies begin their lean journey with high levels of inventory. Through the deployment of lean practices and methods, inventory will be reduced. One of the

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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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