Development and implementation of value stream income statements in support of a company's lean transformation

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dc.contributorInternational FAIM Conference 24th : 2014 : San Antonio, Texas
dc.contributorUniversity of Texas at San Antonio. Center for Advanced Manufacturing and Lean Systems
dc.contributor.authorBain, Chris
dc.contributor.authorChen, F. Frank
dc.date.accessioned2022-07-11T17:35:34Z
dc.date.available2022-07-11T17:35:34Z
dc.date.issued2014
dc.descriptionPaper presented at the Proceedings of the 24th International Conference on Flexible Automation & Intelligent Manufacturing, held May 20-23, 2014 in San Antonio, Texas, and organized by the Center for Advanced Manufacturing and Lean Systems, University of Texas at San Antonio
dc.descriptionIncludes bibliographical references
dc.description.abstractThe goal of this project was to provide lean income statements specific to Lancer corporation's 11 value streams. A Lean income statement, often referred to as a plain English Profit and Loss statement, is a very easy to read financial statement that does not include allocations or accruals. This format gives value stream managers a straight forward financial report specific to their value stream activities. Several criteria had to be met for the project to be successful. The main two goals were to only charge the value stream for expenses that were both controllable and measurable, no indirect allocations would be used to assign cost. The second requirement was to not change the company's current accounting methodology. Lancer uses typical standard costing methodology to track and cost inventory within an ERP system. Ultimately the project was successful, real time income statements were made by carving out data from both operational and financial transactions. Aside from some initial organization of expenses and warehouses, no additional data collection was added to support these reports.
dc.identifier.otherhttp://dx.doi.org/10.14809/faim.2014.0567
dc.identifier.urihttps://hdl.handle.net/20.500.12588/993
dc.language.isoen_US
dc.publisherDEStech Publications, Inc.
dc.relation.ispartofseriesProceedings of the 24th International Conference on Flexible Automation & Intelligent Manufacturing
dc.subjectLancer Corporation--Accounting
dc.subjectFinancial statements
dc.subjectValue-added--Accounting
dc.subjectOrganizational effectiveness
dc.titleDevelopment and implementation of value stream income statements in support of a company's lean transformation
dc.typeArticle

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