Dynamics of Profit-Focused Accounting: Attaining Sustained Value and Bottom-line ImprovementC. Lynn Northrup
Level of TOC knowledge acquired:Introductory
Designed for:Business owners, Consultants and Managers
Topics:Finance and Measurements
This easy-to-understand reference helps you bridge the GAAP to Lean accounting. It articulates the best attributes of Lean manufacturing, Six Sigma, Theory of Constraints, balanced scorecard, activity-based management, and other world-class management philosophies in a single text.
It provides simplified applications of the balanced scorecard and activity-based management as tools and enablers for use with throughput accounting and illustrates a new business, accounting, and reporting model that utilizes the components of throughput accounting for application with Six Sigma and lean manufacturing programs.
Organizations using traditional accounting systems and concepts have difficulty coping with the speed and acceleration created by lean programs. The author’s profit-focused accounting approach will enable organizations to accurately measure and report the results of Lean Six Sigma efforts on a monthly basis.
Dynamics of Profit-Focused Accounting does not suggest throwing out existing accounting systems or generally accepted accounting principles, but rather shows you how to bridge the GAAP to a Lean accounting system.
It also presents advanced concepts and methodologies that encompass corporate performance management and provides the tools and techniques to use these concepts to increase profit, create value, and build a solid foundation for the future. This book is a must-read for manufacturing managers, executives, financial managers, cost and management accountants, and controllers.
- Past, present, future
- Concepts of the Lean Enterprise
- Dimensions and impact of six sigma
- Understanding the Theory of Constraints
- Activity-based management and measurement
- Basics of Throughput Accounting
- Balancing the Scorecard
- Lean Constraints: Six Sigma Control
- Application of profit-focused accounting
- Applying activity based analysis
- Simplifying strategy using balanced scorecard
- Creating, managing, and measuring value
- Scorekeeping tools: Metrics and Methods
- Leadership focus, discipline, and determination
- Meeting the measurement challenge