LEAN ACCOUNTING AND FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES IN NIGERIA

This study examined lean accounting and financial performance of listed manufacturing companies in Nigeria.  The specific objectives were to examine the influence of kaizen costing on return on asset of manufacturing companies in Nigeria, examine the influence of just-in-time costing on return on asset of manufacturing companies in Nigeria. The study used survey research design. The population of the study is sixty-three (63) manufacturing companies. The unit of respondent of the study were three hundred and seventy-eight (378) knowledgeable and competent staff within the production, marketing and finance departments of the sixty-three (63) manufacturing companies. The sample technique was the census sampling approach. The data was analyzed using descriptive statistics and regression analysis with the aid SPSS. The findings of the study revealed that there is significant influence of kaizen costing on return on asset of manufacturing companies in Nigeria; Just-in-time costing has a significant influence on return on asset of manufacturing companies in Nigeria. The study recommends that to determine the actual performance of the Kaizen system, organizations should bridge the bureaucratic barriers and allow the top management to interact freely with the lower hierarchy members of the organization and build a proper rapport to enhance effective communication, efficient development of ideas, proper adoption of generated ideas and avoid dismissing the simple little ideas given by the junior staff about improvement of the organization. Just-in-time costing (JITC) inventory system should be used by management in other not to run at loss and not to incurring further costs on staff training in other lean accounting knowledge. The study concluded that the introduction of just-in time lean accounting systems should be a process starting with training the staff members, ensuring the supervisors understand that small but gradual improvement are only possible when they bridge the bureaucratic barriers and engagement of employee and relying on their views is very critical