Lean Finance
Lean Finance 2 days Learn how companies like Boeing, Parker Hannifin, Siemens, Messier Dowty and hosts of smaller firms are revolutionizing accounting, control and measurement processes The first systematic lean program about the specifics of adapting financial systems to better serve lean operations by the world leading lean authority SYNCHRONI Z E YOUR LEAN J OURNE Y Get lean, Go green Cut cost, streamline business Processes and stay competitive
Are you getting a picture of your company s true performance? Numerous cases show that many of today s companies are led by executives who do not fully understand their own financial information. Why? Because current management accounting practices: Produce financial statements that are unnecessarily complex and confusing and are obstacles to critical decision-making, not the actionable tools they were intended to be. Reward the wrong behavior, such as excess inventory and long lead times, masking real improvement with distortions and false negatives that can derail a solid Lean initiative. Inducing to build in large batches in order to keep machines running and people busy to absorb overhead Not provides daily performance information needed to support continuous improvement at the cell and value-stream levels Requires huge amounts of computer resources and disvalue-creating activities to gather and process work-order transactions Fails to capture the vast benefits that lean generates in the form of higher quality, shorter lead times, and especially the added capacity gained from people, equipment, and space. Corporate management accounting systems are inadequate for today s environment. Robert s. Kaplan H. Thomas Johnson and
"Most of your measurements ought to be quantity-based measurements, not dollar-based measurements." Oresteia Fiume, Former Vice President of Wire mold, Shingo prize winner Why lean? Because the lean enterprise will have the following advantages: Financial reports are simpler and more understandable than traditional and ABC/ABM reporting. Cost comes from the general ledger; and therefore has credibility. No new accounting system; built on the current systems. Financial reporting is fully compliant with all international accounting regulations. Limited transactions; therefore cheaper to operate. Real costs and few allocations; therefore people understand them. Measures the costs of delivering value to customers; therefore useful for management. Performance measures linked to the drivers of value and cost; supports improvement. Value stream planning, performance measurement and control drive continuous improvement toward business goals. Value stream goals and measures designed for achieving the business strategy. Performance gaps drive high-impact improvement. Rapid feedback of improvement results ensures effective control. Fully supports lean and six sigma approaches. Voice of the customer underlies the lean
Equip yourself with the tools for success If you are still using standard costing use performance measurements like labour efficiency and machine utilisation have financial reports show variances and absorption have financial information that is looking backwards and is too late to be useful are still driven by annual budgets have complicated accounting systems that few people understand Lean techniques provide accurate, timely and understandable information to motivate the lean transformation throughout the organisation, and for decision-making leading to increased customer value, growth, profitability, and cash flow. use lean methods to eliminate waste from the accounting processes while maintaining thorough financial control. fully comply with generally accepted accounting principles (GAAP), external reporting regulations, and internal reporting requirements. support the lean culture by motivating investment in people, providing information that is relevant and actionable, and empowers continuous improvement at very level of the organisation. Master Class
Who should attend The ideal audience for this course is cross-functional. The class is not designed for accountants and finance people alone. The ideal audience includes Executive leaders, finance professionals, lean specialists, senior managers in operations, product development, procurement, sales, and marketing, etc. Actually we highly recommend you bring a small group or team to the workshop to maximize the benefits How we can help While much has been said on the benefits and processes involved in lean manufacturing, very little has been talked about the specifics of adapting accounting systems to better serve lean operations. This Master Class not only teach you lean finance techniques, but also explores the enterprise toolsets and imparts practical skills that can be used by every lean Master Practitioner to successfully transform a company into a lean enterprise. Help you focus on creating value to your customers by kinds of tools Develop action plans for implementing Lean Accounting methods in participating companies considering the existing defense industry structural barriers Help you design a radically new way to your processes Learn the approach of how to design and measure work to achieve business objectives to implement your lean system design Put performance measurement on a different level Savagely eliminating waste from the process Reduce customer wait times and increase customer satisfaction dramatically
Lean principles, practices and tools you will learn in this master class
Golden Finance is the worldly renowned institute for financial training, the major area of which is to provide various financial training solutions. In accordance with the philosophy of Systematical Finance Training Provider, we offer the most professional service by matching the different courses and training programs that we have constantly researched and developed, we pay close attention to the systematic growth of our clients and try our best to assure the steady rise and the ability of innovation of these enterprises. Golden Finance is embracing more than 10,000 large-scale multinational enterprises, state-owned and individually-run businesses. We have come up with 29 series which include more than 200 different courses targeting at corporate executives, financial and non-financial personnel as to satisfy the demand of the entire company. We also have over 500 public lectures and 1000 internal trainings in Shanghai, Beijing, Guangzhou and Shenzhen every year. As for the leader of the financial training, Golden Finance also issues the magazine Global Accountancy,Golden Tax Summit, Golden Lecture Room, Golden E-Learning Community, Accountant Oriented Web Portals and the platform for on-line book purchasing and some other services in order to put up a platform for the financial study. Tel: +86 21-6083 7900 Fax: +86 21-6083 7901 Web: www.goldenfinance.com.cn