Asked by Matthew Payeff on Apr 26, 2024
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In a lean accounting system, there are more transactions to record than there are in a traditional accounting system.
Lean Accounting System
An approach to accounting that focuses on reducing waste, improving efficiency, and providing value to customers.
Transactions
Business events that have a monetary impact on the financial statements of an organization.
Traditional Accounting System
An accounting practice that uses manual processes and ledgers for bookkeeping without extensive technology.
- Recognize the impact of lean manufacturing on accounting systems.
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Learning Objectives
- Recognize the impact of lean manufacturing on accounting systems.
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