Lean Finance

1-day

Lean Management Accounting Online Training & Certification Course

In this 8 hour interactive learning experience, participants will be able to earn a BMA Level 1 Lean Management Accounting Certification. Certified Public Accountants who attend this course can also receive 8 hours of continuing education credit.

Course participants will earn their certification by demonstrating the ability to recall, understand and apply the principles, practices and tools of Lean management accounting through:

questions and answers
problem solving
case study discussion
exercises

Upon completion of the course, participants will be able to:

Explain and illustrate the benefits of lean management accounting to their company
Analyze their current management accounting system and develop a transformation plan
Use their knowledge to conduct a lean management accounting pilot in their company

Course Description

Long-term financial improvement is an outcome of a lean strategy. In order for this to occur, a lean company must develop a lean management accounting system that complements its financial accounting system to provide a knowledge base for effectively making decisions about the future (this is critical because the focus of financial accounting is on past activity). Lean management accounting provides decision makers with understandable and useful information to improve the quality of business decision making – the actual relationships between lean operational performance and financial numbers.

Course Schedule and Learning Objectives

Session 1

Principles of Lean Management Accounting
- Economics of lean
- Lean Financial Thinking
- Waste in management accounting systems
- Lean Performance Measurements
  - Basic lean performance measurements
  - How to create a lean performance measurement system
  - Value Stream Income Statement
    - Principles of value stream income statement
    - How to develop a value stream income statement
    - Value stream costing practices

Session 2

Value Stream Capacity
- The relationships between capacity, performance and costs
- How to calculate value stream capacity
- Methods to use available capacity to create economic value
- Lean Financial Management
  - Principles of lean financial management
  - Why the Box Score is the understandable and useful information for decision making
  - How to apply the Box Score to business decision making
  - How to change thinking in decision making using PDCA
  - Developing a Lean Management Accounting System
    - Methods to change thinking
    - How to develop a pilot
    - Components of a lean management accounting system
    - Dealing with typical obstacles and issues

Continuing Education Credits for CPAs: 8 hours of CPE credit through this online training

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group

CPE Credits Earned: 6 (You must attend each live course)

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