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These include the month-end close, accounts payable, accounts receivable, payroll, cost accounting, expense reporting, and so forth. There are three reasons for applying lean improvement methods to the accounting processes: The processes will be improved and the company's operations made better.
Accounting can be described as a way to communicate the financial health of a business or an organization to any and all interested parties. It is a way of assessing the assets, liabilities and cash flow, or the future of an entity for all current and future investors.It is the lifeblood of a business and all types of business have basic information that is recorded to get that job done.Recommended Online Accounting Degree Programs.t is a way of assessing the assets, liabilities and cash flow, or the future of an entity for all current and future investors. It is the lifeblood of a business and all types of business have basic information that is recorded to get that job done. Recommended Online Accounting Degree Programs.