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Low fat Accounting supports the basic principle of eliminating waste products and streamlining the business processes to produce maximum value. So slim management accounting metrics is all about breaking from traditional cost accounting cost items like product or job and is driven by a new cost thing 'Value Stream.' Within slim accounting exercise, we define the scope of value stream cost thing and map the business process activities to this cost object. Low fat accounting helps organizations going right through lean transformation to develop their management accounting systems to support the lean school of thought. Traditional accounting systems (particularly standard costing) cause decisions which can be anti-lean.
