Managerial Accounting
Managerial Accounting
6th Edition
ISBN: 9781259726972
Author: John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter C, Problem 2E
To determine

Concept introduction:

Lean Accounting:

Lean accounting refers to the modern time accounting system which helps in maintaining accounting data in a comparative manner. In other words we can say that lean accounting system focus on the maximization of recording efficiency through gathering useful & comparative accounting information. This accounting system is updated version of traditional accounting.

Journal entries to record transactions.

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