Lean Accounting and Lean Business Philosophy in Nigeria: An Exploratory Research

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Author	Okpala Kenneth Enoch
ISSN	2307-2466
On Pages	508-515
Volume No.	2
Issue No.	7
Issue Date	December 01, 2020
Publishing Date	December 01, 2020
Keywords	Lean accounting, lean business philosophy, traditional costing methods, value stream mapping

Abstract

The idea of a lean business culture has greatly improved business results in terms of product quality, customer satisfaction, product market share and profitability in the advance countries in recent times. This exploratory research paper attempted to investigate the application of lean accounting as a strategy to achieve lean business philosophy in Nigeria manufacturing firms. The study population consists of 53 manufacturing firms listed in the Nigeria stock exchange with 2,246 employees selected based on the researcher�s criteria. 50% of the population used as sample frame was selected at random. The formulated hypotheses were confirmed and the result obtained revealed that lean accounting correlated positively with lean business philosophy but due to ignorance, implementation is insignificant in Nigeria. The study suggested the need for full implementation of lean business culture and lean accounting to gain the total benefit of lean business philosophy which in turn through the multiplier effect will influence Nigeria economy positively.

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