<abstract xmlns="http://www.w3.org/1999/xhtml"><p>Required customer value, just in time delivery, elimination of all forms of waste from production and all business processes in the company and the like are basic characteristics of lean business concept. Achieving and maintaining competitive advantage, implies to carefully consider and apply the five principles of the Lean concept and establish a value stream. Primarily, the Lean concept was applied in the production process, but due to the numerous perceived benefits, the Lean concept can be applied in all company processes, including accounting. Lean accounting involves changing financial reporting, business process control and business decision-making processes. Lean accounting relies on the value stream with all income and expenses. The paper analyzes the application of value stream costing and financial effects of business improvement using the Lean concept.</p></abstract>

Required customer value, just in time delivery, elimination of all forms of waste from production and all business processes in the company and the like are basic characteristics of lean business concept. Achieving and maintaining competitive advantage, implies to carefully consider and apply the five principles of the Lean concept and establish a value stream. Primarily, the Lean concept was applied in the production process, but due to the numerous perceived benefits, the Lean concept can be applied in all company processes, including accounting. Lean accounting involves changing financial reporting, business process control and business decision-making processes. Lean accounting relies on the value stream with all income and expenses. The paper analyzes the application of value stream costing and financial effects of business improvement using the Lean concept.

<italic>Lean</italic> Accounting and Value Stream Costing for More Efficient Business Processes

Economic Themes

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

 Accounting and Value Stream Costing for More Efficient Business Processes

Required customer value, just in time delivery, elimination of all forms of waste from production and all business processes in the company and the like are...

Lean Accounting and Value Stream Costing for More Efficient Business Processes

Published Online: Dec 31, 2020

Page range: 573 - 592

Received: May 19, 2020

Accepted: Sep 29, 2020

DOI: https://doi.org/10.2478/ethemes-2020-0032

Keywords
Lean concept, Lean accounting, value stream costing

© 2020 Bojana Novićević Čečević et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Lean Accounting and Value Stream Costing for More Efficient Business Processes

Published Online: Dec 31, 2020

Page range: 573 - 592

Received: May 19, 2020

Accepted: Sep 29, 2020

DOI: https://doi.org/10.2478/ethemes-2020-0032

KeywordsLean concept, Lean accounting, value stream costing

© 2020 Bojana Novićević Čečević et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Lean concept, Lean accounting, value stream costing