International FAIM Conference 24th : 2014 : San Antonio, TexasUniversity of Texas at San Antonio. Center for Advanced Manufacturing and Lean SystemsBain, ChrisChen, F. Frank2022-07-112022-07-112014http://dx.doi.org/10.14809/faim.2014.0567https://hdl.handle.net/20.500.12588/993Paper 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 AntonioIncludes bibliographical referencesThe 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.en-USLancer Corporation--AccountingFinancial statementsValue-added--AccountingOrganizational effectivenessArticle