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The Lowdown on Lean Accounting
Anton van der Merwe and Jeffrey Thomson
What is Lean Accounting all about? Does it have the potential to provide benefit in the transformation of the profession? Rather than assuming “Lean” has all the answers, say the authors, “we do know that open debate and discussion is required at a more technical level.”
What’s Keeping Corporate Controllers Up at Night?
One issue dominating the concerns of CFOs at the recent Financial Executives International Financial Reporting Issues Conference was the increasing demand for skilled accountants. One executive lamented that “the whole Baltimore, Washington corridor within the past three or four years has been sucked dry of accountants.” Other issues included the complexity and quantity of U.S. GAAP; an ultraconservative audit environment driven by SOX requirements, which led to many restatements; and managing in an increasingly complex, global environment.
Susan M. Sorensen, CPA, and Donald L. Kyle, CPA
Citizens who lend a helping hand to a charitable organization are praiseworthy, but professionals like accountants are equipped to do more. They can use their expertise to leverage such charities to improve overall operations and substantially augment their effectiveness. These accountants helped Houston-based Medical Bridges, which recycles medical supplies, install and maintain better accounting records so it could attract more donors, hire more employees, and improve and increase its charitable activities.
Making a Case for Business Analytics
Business intelligence (BI) software products may be sufficient for the CFO and the CEO to understand what has happened in their company’s operations, but operational managers, “Go-To Guys,” need much more. The ability of business analytics (BA) programs to dig down into data and surface key details helps ensure that the savvy organization is more operationally agile and can respond to key issues and problems in a timely manner.
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