ABSTRACT
With many manufacturers now undergoing a lean transformation, it becomes essential to to discover exactly what part lean accounting has played in the changes made. Surprisingly, this is still an emerging concept. Reasons ranged from a lack of understanding to the barrier of company culture. This paper will cut through some of the common misconceptions about lean accounting and demonstrate instead the extensive benefits to be realised from its application.
KEY WORDS: Lean accounting, Lean manufacturing, Value stream