Lean CFO Blog

The Matching Principle and the Value Stream Income Statement

Posted on July 13th, 2017 by Nick Katko | No Comments

I spoke last month at a CFO Conference about Lean Accounting. After explaining the use of actual costs on a value stream income statement, we had a good discussion about whether a value stream income statement complies with the matching principle of financial accounting. This question has actually come up quite regularly over the years

Lean Decision Making: Production Cost Analysis

Posted on July 06th, 2017 by Nick Katko | No Comments

The purpose of a value stream income statement is to analyze current value stream costs compared to current value stream performance measures to determine root cause analysis of current costs. Actual production costs for any value stream include the labor costs for people that work in the value stream, costs to own, lease, operate and

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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.