European Lean Accounting Masterclass - Lean Frontiers - Be Bold. Be Better.

European Lean Accounting Masterclass

When: 2020 Date to be Announced Soon

Where: Rævebjerg 12

     6000 Kolding

     Denmark

Fees: $1995

Contact: Dwayne Butcher

2020 Date to be Announced Soon!

 

3-Day Lean Accounting Masterclass

3 days full of unique learning opportunities to transform the way your organization measures and motivates continuous improvement behaviors through “lean accounting.”

The Masterclass                                                                        

Lean is a multi-faceted business strategy, with a primary focus on employees and learning. Through the use of various lean tools, practices and methods, employees learn to master their work, solve the right problems and help an organization learn how to doing things tomorrow it cannot do today. That’s why we should always talk about “lean thinking” as opposed to “doing lean”.

Lean also changes the way an organization thinks about making money. The financial impact of a lean strategy is well known – all we need to do is look at the many companies that have been successful in their transformations. We know that focusing an organization on customer value will result in revenue growth, and that the deployment of lean tools and techniques that create flow and eliminate waste will result in improved cost management. These are the economics of lean.

But before any of that appears, a fundamental shift must occur in what and how an organization measures itself operationally and financially. Financial management must be aligned with the economics of lean, and that’s what lean accounting is all about.

To achieve success, a lean organization must develop an effective and efficient management accounting function 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 accounting makes relevant information available to decision makers on a timely basis.

Who should Attend?

It is recommended that a team of 3-5 people from a company attend this masterclass in order to effectively perform the exercises and create a working model of a lean management accounting system for your company. The ideal composition of a team would be people from finance, operations, management and lead leadership.

What Will You Learn?

In this workshop, you will learn:

  • The Principles of Lean Financial Thinking
  • How to apply the Box Score to your analytical practices and decision making
  • How to develop, deploy and transition to a lean management accounting system

This workshop combines formal training with instructor led exercises and team-based exercises using your own company’s information. The team-based exercises are designed to create a real working model of a lean management accounting system for your company and include:

  • Creating a lean performance measurement system
  • Create a value stream income statement
  • Calculate capacity for one value stream
  • Apply a Box Score analysis to typical business decisions in your business
  • Understand the impact of your current costing system and ERP configuration on a lean management accounting system
  • Create an implementation plan for a Lean Accounting Transformation

Pre-masterclass Preparation

In advance of the class, teams will be required to gather and collect data and information from their company for one value stream: existing performance measurements, an income statement and a value stream map

The masterclass instructor, Nick Katko, will begin working with each team using 3-4 weekly, one-hour online meetings to review the current information, learn more about your business and set expectations for the masterclass.

About the Workshop Facilitator:

Nick Katko is an early pioneer of Lean Accounting. In the 1990’s, as CFO of Bullard, Nick implemented a complete lean management accounting system in conjunction with Bullard’s Lean transformation, which included eliminating standard costing. Through this experience, Nick learned that existing management accounting systems and financial management practices for lean organizations must be made relevant to ensure the success of a lean strategy.

Nick joined BMA in 2002 and has leveraged his Lean Accounting experience and philosophy  in assisting BMA clients in developing, leading and coaching them in their Lean Accounting transformations. Nick has also provided selected BMA clients with Lean Strategy and Lean Office guidance.  Clients Nick has served range of organizations world-wide from family-owned businesses to multi-national companies in industries such as manufacturing, healthcare, software, engineering and service.

Nick is a regular speaker at the annual Lean Accounting Summit and has also presented at conferences in the United States, Europe, Asia and Australia.

Nick is the author of “The Lean CFO” (2013), which has been translated into Turkish and Italian, and co-author of “The Lean Business Management System” (2007).

Nick is a Certified Public Accountant, has a BS in Accounting and MBA in Finance, both from the University of Kentucky. Nick lives in Lexington, Kentucky with his wife Deanna and their family.


Important Workshop Details

Due to required pre-work for this class, registration will close one month prior to the date of the workshop. This will allow attendees ample time to adequately prepare for this masterclass.

When: 2020 Date to be Announced Soon

Where:

Rævebjerg 12
6000 Kolding
Denmark

Fees: $1995

Contact: Dwayne Butcher