Which of the following is not a characteristic of a lean accounting system? Multiple Cholce Costs in the system are organized according to value streams. The system includes both financial and nonfinancial performance indicators. It is most appropriate for firms operating in dynamic and competitive environments. The system incorporates the use of standard costs and standard cost variances. The overall intent of the system is to more accurately reflect improvements associated with lean manufacturing.

Which of the following is not a characteristic of a lean accounting system? Multiple Cholce Costs in the system are organized according to value streams. The system includes both financial and nonfinancial performance indicators. It is most appropriate for firms operating in dynamic and competitive environments. The system incorporates the use of standard costs and standard cost variances. The overall intent of the system is to more accurately reflect improvements associated with lean manufacturing.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter5: Activity-based Costing And Management

Section: Chapter Questions

Problem 11MCQ

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The following Box Scorecard was prepared for a value stream: Required: 1. How many nonfinancial measures are used to evaluate performance? Why are nonfinancial measures used? 2. Classify the operational measures as time-based, quality-based, or efficiency-based. Discuss the significance of each category for lean manufacturing. 3. What is the role of the Planned Future State column? 4. Discuss the capacity category and explain the meaning of each measure and its significance. 5. Discuss the relationship between the financial measures and the measures in the operational and capacity categories.
A Box Scorecard was prepared for a value stream: Required: 1. How many nonfinancial measures are used to evaluate performance? Why are nonfinancial measures used? 2. Classify the operational measures as time-based, quality-based, or efficiency-based. Discuss the significance of each category for lean manufacturing. 3. What is the role of the Planned Future State column? 4. Discuss the capacity category and explain the meaning of each measure and its significance. 5. Discuss the relationship between the financial measures and the measures in the operational and capacity categories.
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