The Lean Accounting Guidebook

Upon successful completion of this course, participants will be able to:

• Cite the tools used to create a lean accounting system.
• Identify the techniques used to reduce billing problems.
• Specify the steps in the processing of cash receipts.
• Cite the techniques used to streamline the processing of payables.
• Specify the methods available for creating a leaner payroll process flow.
• Recognize the revisions used to accelerate the closing process.
• Cite the types of protections available for mitigating credit losses.
• Recognize the tools used to manage the collections function.
• Specify the methods used to increase inventory record accuracy.
• State the types of traditional cost accounting reports, and the situations in which these reports can be used or avoided.
• Recognize the characteristics of lean production environments, pull systems, and bottleneck-focused systems.
• Specify the situations in which work-in-process tracking is not required.
• Cite the effects of interest capitalization and the capitalization limit on fixed asset recordation.
• State the effects of an acquisition on the general ledger.
• Recognize the arguments favoring a reduction in the number of general ledger accounts.
• Recognize the methods used to streamline and verify the budget model.
• Cite the situations in which separation of duties is needed.
• Describe how the outlier analysis concept can be used.
• Recognize how controls can fail in special situations, such as during acquisitions, employee turnover, and rapid growth.
• Specify the techniques available for minimizing employee movement within the accounting department.
• Recognize the available solutions for minimizing record mis-filings and locating missing records.
• Specify how controls can remain robust during a period of rapid growth.
• Identify the situations in which weak controls are acceptable.