Need help with an outline for my research paper with ideas.
My options for solving are:
My problem solvers are one....getting GAAP to recognize it and making it more acceptable by showing that GAAP no longer makes sense for modern day companies. It needs to change with the times. Supplements/non-financial information needed to be added alongside GAAP so that the complete results are captured. GAAP needs to be more relevant.
On the other hand, having it used for internal reporting and keeping GAAP for external reporting.
Accounting for lean is meant for internal reporting. It helps understand the financial impact of lean change; it uses value based pricing, and eliminates traditional budgeting that is difficult to understand. Accounting for lean helps bring about changes by understanding the deep requirements of customers. The system of accounting for lean uses simple summary of direct costing, and uses lean-oriented performance evaluation. Most important, the financial reports are easy to understand and are presented when they are likely to be most useful ...
The response provides you a structured explanation of problems relating to lean accounting . It also gives you the relevant references.
Importance and benefits of lean accounting
Lean accounting described in 500 words or more please.View Full Posting Details