Nick Katko is a pioneer of lean accounting. In the 1990’s, as CFO of Bullard, Nick implemented a complete lean management accounting system in conjunction with Bullard’s Lean transformation, which included eliminating standard costing. Through this experience, he earned that existing management accounting systems and financial management practices for lean organizations must be made relevant to ensure the success of a lean strategy.
This article originally appeared in the Lean Post, the blog of the Lean Enterprise Institute. It is used with permission.