Dynamics of Profit Focused Accounting: Attaining Sustained Value and Bottom-Line Improvement

This easy-to-understand reference articulates the best attributes of lean manufacturing, Six Sigma, Theory of Constraints, balanced scorecard, activity-based management, and other world-class management philosophies in a single text. It provides simplified applications of the balanced scorecard and activity-based management as tools and enablers for use with throughput accounting and illustrates a new business, accounting, and reporting model that utilizes the components of throughput accounting for application with Six Sigma and lean manufacturing programs. Organizations using traditional accounting systems and concepts have difficulty coping with the speed and acceleration created by lean programs. The author's profit-focused accounting approach will enable organizations to accurately measure and report the results of lean Six Sigma efforts on a monthly basis. Dynamics of Profit-Focused Accounting does not suggest throwing out existing accounting systems or generally accepted accounting principles, but rather shows you how to bridge the GAAP to a lean accounting system. It also presents advanced concepts and methodologies that encompass corporate performance management and provides the tools and techniques to use these concepts to increase profit, create value, and build a solid foundation for the future. This book is a must-read for manufacturing managers, executives, financial managers, cost and management accountants, and controllers.

C. Lynn Northrup has over 40 years of experience as a financial executive, CPA, and consultant specializing in operations and strategic cost management. He is a professional trainer and consultant and creates and teaches continuing professional education on a national and regional level. He is an active speaker at national seminars and professional conferences. Mr. Northrup is a member of the AICPA, the North Carolina Association of CPAs, and APICS. He holds an APICS certification as a CPIM and has received certification on multiple ERP and accounting/financial reporting systems.