Lean Accounting Masterclass with

“The Lean CFO” Author Nick Katko

Date: Monday, June 18, 2018
Time: 8AM-4PM (lunch included)
Location: Venice, Italy
Fee: €800

Facilitated By:

Nick Katko

Session Abstract:

This is an introductory course. Its aim is to present an overview of the reasons why lean accounting is important and the new methods that lean manufacturers are using to bring their measurement and accounting processes into line with lean thinking.

Upon completion of this session, participants will learn…

  • Gauge the extent to which the problems with traditional accounting are a problem in their own companies
  • Learn the BMA, Inc.  “Starter Set” of performance measures
  • Understand how value stream costing simplify the development of costing information
  • learn how to make business decisions using the lean accounting box score
  • Learn how to develop a plan for eliminating operating and accounting transactions as lean manufacturing is implemented

Who Should Attend?

  • CFO’s, Accounting Management, Finance Management, Controllers, Cost Accountants, COOs & CEOs, and anyone responsible for Accounting’s role in measuring and supporting the lean enterprise.

About the Presenter

Nick joined BMA in 2002. Prior to joining BMA, Nick was CFO for various manufacturing companies that implemented lean practices and has also worked in public accounting.

As a CFO, Nick has led companies in the implementation of lean accounting practices such as performance measurements, value stream costing, lean decision-making and the elimination of traditional standard cost systems. As a senior consultant with BMA, Nick uses this experience to assist clients in lean accounting implementation by working closely with clients resolve the real-world issues they face in implementation. These issues include removing traditional cost-based performance measurement systems in favor of lean performance measurement systems, migrating from a traditional income statement to a value stream costing income statement, creating a transaction elimination maturity path and working with management to create new business decision making models based on lean accounting practices.

Lean Implementation

  • Facilitated over 30 kaizen events in 18 months resulting in reduction in wait time, improved quality, safety and productivity
  • Facilitated current and future state value stream mapping events
  • Facilitated performance measurement kaizen events for 8 value streams
  • Conducted lean training in continuous improvement, standard work, leader standard work performance measurements and value stream mapping

Lean Accounting Training and Implementation

  • Conducted over 60 lean accounting training workshops
  • Assisting over 75 companies implement lean and lean accounting (performance measurements, value stream P&L, capacity analysis and transaction elimination) through training workshops, kaizen events and consulting

Experience  Implementation and Development of a Lean Business Strategy

  • Architect of corporate performance measurement system to support strategy of a 100-year old company that increased sales 41% and profits 300% in 3 years
  • Participated in the development of lean performance measurement system that improved customer service 52%, lead time 84%, inventory turns 700%, productivity 45% and reduced waste 63% in 5 years
  • Implemented value stream costing and lean decision making, which led to increasing sales 41% and profits 300% in 3 years
  • Implemented simplified inventory valuation system and eliminated standard costing system

Proactive Leadership in Development and Implementation of Lean Practices in Accounting Processes

  • Reduced month end close of 4 companies an average of 60% in one year
  • Reduced operating and capital budget cycle of 3 companies an average of 70% in 2 years
  • Eliminated waste in financial processes of a manufacturer resulting in the transfer of 10 transactions processing employees into production and decision support positions in 3 years
  • Simplified a manufacturer’s cost accounting system which resulted in a 50% reduction of the departmental budget
  • Created uniform purchasing process for a $75 million company with 5 business units which resulted in a 10% reduction in total purchases in the first 6 months since implementation

Nick is the co-author of “The Lean Business Management System: Lean Accounting Principles and Practices Toolkit” (2007) and is currently at work on a new book about leadership and lean accounting.

Extend your stay for the TWI & Kata Summit Europe!

The Lean Accounting Master Class takes place just before the annual TWI & Kata Summit Europe. Attend the Master Class and stay for the Summit where you’ll meet Mike Rother, Toyota Kata author, and Patrick Graupp, TWI Master Trainer, and a host of company practitioners sharing case studies. This event provides not only the knowledge, but hands-on practice for these proven skills for developing an effective, improvement-minded workforce.