The Theory of Constrainst and Lean Accounting
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Course Details

Overview of Topics

  • The Theory of Constraints11 mins
  • Throughput Accounting18 mins
  • Throughput Accounting Metrics24 mins
  • Throughput Accounting Example33 mins
  • Introduction to Lean Accounting46 mins
  • Lean Performance Measures52 mins
  • Creating Lean Performance Measures67 mins
  • Manage by Value Stream90 mins
  • Lean Accounting Tools107 mins
  • Transaction Elimination120 mins

Course Description

The purpose of management accounting is to support decision-making and performance management in an organization.

As accountants, therefore, we must have a wide range of tools and techniques that we can use to support the needs of our organizations. Throughput Accounting and Lean Accounting are both examples of flow accounting that provide tools for process-orientated organizations.

Throughput Accounting is designed to support management accounting in organizations that are implementing the tenets of the Theory of Constraints.

Lean Accounting, like Throughput Accounting, focusses on improving the flow of work through a business process and provides a variety of flexible tools to measure, manage and improve performance.

This course covers the Theory of Constraints, Throughput Accounting, and Lean Accounting to give learners a thorough grounding of the main issues. Topics covered include:

  • What is the Theory of Constraints?
  • What is Throughput Accounting?
  • The Performance Measures of Throughput Accounting
  • What is Lean Accounting?
  • The Seven Aims of Lean Accounting
  • Lean Performance Measures
  • Performance measures and decision-making in Lean Accounting
  • Accounting Transactions in Lean
  • Throughput Accounting, Lean Accounting and the Financial Statements

There is a lot to cover and I have made it as clear and accessible as possible. Other than an interest in business finance and performance management, there are no pre-requisites for this course. I hope you enjoy it.

Learning objectives

  • To identify the basics of the Theory of Constraints
  • To identify the Key principles in Throughput Accounting
  • To recognize why “flow” is important in the Theory of Constraints, Throughput Accounting and Lean Accounting
  • To identify the performance measures and KPIs of Throughput Accounting
  • To recall what Lean Accounting is and how it works

About Presenter

Ross Maynard

Managing Director,Ideas2Action Process Excellence Ltd

ross@ideas2action.co.uk

My philosophy is to inspire, challenge and support change. I have nearly 30 years experience as a business author and consultant. I write the content of online business courses for Nelson Croom Ltd - www.accountingcpd.net.

More courses are in production for publication in 2019, including two bringing the Agile philosophy to planning and accounting. I also write and deliver webinars for clients, with the "Innovation Masterclass" and "Creative Problem Solving" for ACCA in the summer.  As a consultant, I specialise in process improvement based on the Lean and Agile philosophies. I facilitate improvement teams and provide expertise in performance measurement and management; problem solving; and process mapping. 

Ideas into Action was founded in 1997 by Ross Maynard. Ross is a Fellow of the Chartered Institute of Management Accountants with over 20 years experience in organisational development with organisations of all sizes. The business is incorporated as Ideas2Action Process Excellence Ltd, registration number SC523801. We specialise in process analysis and improvement and lean finance, offering training, consultancy and facilitation of process improvement teams.

Ross is author of “Successful Business Growth” published by Hodder and Stoughton, in 1998; as well as many published articles on business improvement and lean management. Ross is an NLP Master Practitioner.

Review Questions

  • Question 1 : 00:15
  • Question 2 : 00:30
  • Question 3 : 00:47
  • Question 4 : 01:05
  • Question 5 : 01:20
  • Question 6 : 01:40
  1. How does the Theory of Constraints define throughput?
  2. Which one of the following aims is shared by the Theory of Constraints and the Lean philosophy?
  3. Which of the following is NOT one of the five principles of lean?
  4. Relatively few of the measures at Process Output and In-Process levels in Lean Accounting relate to cost. Why?
  5. Which of the following would be a correct statement for Lean Decision Making?
  6. Why does Lean Accounting focus on customer value so much?
  1. What is the Throughput Accounting metric used to measure throughput?
  2. In the Theory of Constraints, how do we increase profitability?
  3. In Throughput Accounting, Investment Turns is defined as Throughput Contribution divided by Investment. How does it help manage performance?
  4. What is the purpose of in-process measures in Lean Accounting?
  5. What is a Value Stream in Lean?
  6. Why would an organisation manage by Value Stream?
  7. Which tool of Lean Accounting is used for weekly performance measurement, management and improvement?
  8. Lean Accounting seeks to minimise the number of accounting transactions used in an organisation. Why?
  9. When data from a lean performance measure is presented as a time-series, how do we know that the cost of operating the process is likely to be stable?
  10. How does Lean Accounting help improve the flow of work through a Value Stream?

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  • Cost $20
  • CPE Credits 2
  • Subject Area Specialized Knowledge
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date May 12 ,2020
  • Published Date May 12 ,2020
  • Who should attend? Accountant CPA - Small Firm CPA - Mid Size Firm Accounting Firm Young CPA CPA in Business Entrepreneurial CPA Accounting Practice Owners Accounts Director Chief Accounting Officer Accounting Managers
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

ADVANCED 1031 EXCHANGE AND DELAWARE STATUTORY TRUSTS: TAX SAVINGS TO WEALTH CREATION
Friday, July 10, 2020 View Details/Register
REVISITING STATE AND LOCAL PAYROLL AND EMPLOYMENT TAXES IN LIGHT OF COVID-19
Friday, July 10, 2020 View Details/Register
FORM W-4 AND OTHER PAYROLL AND FORM 1099 UPDATES
Thursday, July 09, 2020 View Details/Register
THE IRS OFFER IN COMPROMISE PROGRAM
Tuesday, July 07, 2020 View Details/Register
BUSINESS ACTIVITY TAXES – WHERE ARE BUSINESSES AND THEIR OWNERS REQUIRED TO FILE AND PAY STATE INCOME TAXES?
Tuesday, July 07, 2020 View Details/Register
MULTISTATE SALES TAX COLLECTION – NEXUS CONSIDERATIONS AND EXEMPTION CERTIFICATE COMPLIANCE
Tuesday, July 07, 2020 View Details/Register
CARES ACT: NOL CHANGES (UPDATED LATEST)
Friday, July 03, 2020 View Details/Register
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/Register
FRAUD ESSENTIALS: WHO? HOW? WHY? WHAT?
Thursday, July 02, 2020 View Details/Register
PRACTICAL APPROACHES TO PERFORMING EFFICIENT & EFFECTIVE SSARS ENGAGEMENTS (COMPILATION AND REVIEW)
Thursday, July 02, 2020 View Details/Register
ARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
Thursday, July 02, 2020 View Details/Register
TAX UPDATE : FCCA 2020 & SECURE ACT. (COVID-19)
Friday, June 26, 2020 View Details/Register
IRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/Register
FEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/Register
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Thursday, June 25, 2020 View Details/Register