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Work of Accounting Professor and Student Recognized by Lean Enterprise Institute
CAMBRIDGE, Mass.-(Business Wire)-October 2, 2008 - An accounting professor and a graduate student have won Excellence in Lean Accounting Awards from the Lean Enterprise Institute (LEI), a nonprofit management research center.
Laurie Burney, Ph.D., assistant professor of accounting at Mississippi State University, and Dutch Fayard, who just completed his Ph.D., received the awards at the fourth annual Lean Accounting Summit, Sept. 17, 2008, in Las Vegas, NV. The conference draws more than 500 accounting, finance, and operations managers and executives from service and industrial companies.
Orest Fiume, former vice president of finance and administration of The Wiremold Company, who now teaches a workshop on lean accounting as a member of LEI’s faculty, presented the awards on behalf of LEI and the Lean Education Academic Network (LEAN).
The annual award recognizes a teacher and a student who attended the previous year’s Lean Accounting Summit then applied what they learned. Burney used the lean accounting knowledge she acquired to research how many dimensions of performance are affected by lean implementations. In the classroom, she is teaching lean accounting concepts through experiential learning and simulations. She also is sharing her lean accounting knowledge through seminars for professors and accountants.
The knowledge Fayard gained at last year’s conference helped him complete his dissertation. He recently joined the faculty at the University of North Texas where he will spread his knowledge of lean accounting teaching undergraduate and graduate students.
Organizers of the annual Lean Accounting Summit said the lean accounting movement seeks a shift from traditional cost accounting practices to practices that accurately measure and motivate companies implementing lean management principles.
The shift is needed because traditional cost accounting does not accurately reflect the performance gains made when companies launch a lean transformation. For example, traditional financial statements do not accurately reflect reductions in inventory or cycle times, or new found capacity in operations caused by a lean transformation. Traditional accounting practices also motivate the wrong behaviors in companies implementing lean principals. For instance, conventional efficiency metrics can motivate management to create excess inventory.
The Lean Enterprise Institute (LEI) was founded in 1997 by management expert James P. Womack, Ph.D., as a nonprofit research, education, publishing, and conferencing company with a mission to advance lean thinking around the world. We teach courses, hold management seminars, write and publish books and workbooks, and organize public and private conferences. We use the surplus revenues from these activities to conduct research projects and to support other lean initiatives such as the Lean Education Academic Network and the Lean Global Network (www.leanglobal.org). For more information visit LEI at http://www.lean.org.
Lean Education Academic Network (LEAN)
Lean Education Academic Network is a nonprofit consortium of university professors and managers from business and industry dedicated to bringing lean management principles into higher education. Members share teaching materials and knowledge through collaboration, conferences, networking, and a web site at www.teachinglean.org . LEI helped launch LEAN in 2006.
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