It may be effective in reporting historical results to outsiders, but relying on the information generated by a GAAP-based accounting system when making management decisions can seriously undermine a company’s ability to grow into a profitable future.  Doug Hicks, PCS Consulting Alliance Partner, makes the case to support this statement in his new book.

Practical Lean Accounting. A Proven System for Measuring and Managing the Lean Enterprise, authors Brian Maskell and Bruce Baggaley present a the Lean Accounting methodology to support Lean Manufacturing.