Nick Penrod
Mrs. Hatter
Business 1B
December 14, 2017
Lean Accounting
First, I would like to explain what Accounting is, “Lean Accounting is applying concepts
to drive waste out of the accounting function itself.” Accounting for lean is “modifying the
accounting process to properly deliver information which promotes lean behaviors.” There are
two kinds of assumptions and they are traditional and lean assumptions. Traditional’s
assumptions have to do with Profits coming with full utilization of resources, Direct labor is very
important to conversion costs, controls business through detailed tracking and finally all of the
