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The Convergence of Lean and Standard Cost Accounting Part 1

By Gary Kapanowski

The Beatles’ 1969 hit, “Come Together,” said it best: “I know you, you know me, one thing I can tell you is you got to be free; come together, right now, over me.” While there are many publications that highlight the differences between lean and standard cost accounting, whether through defining each methodology or describing the specific tasks performed, there are not many that explore the areas where lean and standard costing come together to achieve an organization’s goals and
improve decision-making.

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