Chapter Eleven. Financial Management

Accounting is all about tangible assets. But given similar financial resources, these types of assets can be purchased by any company. Tangible assets provide organizations with a basic, off-the-shelf capability or platform for competing against other organizations. Intangible assets such as systems, software, processes, training programs, and research and development (R&D) represent investments that provide future value regardless of accounting reporting convention.

Joe Stenzel1

1. Joe Stenzel, Lean Accounting: Best Practices for Sustainable Integration (John Wiley & Sons, 2007), Kindle loc. 2144–48.

There are three reasons why this is the longest chapter in the book: The ability to secure funding is often ...

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