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In computing, just-in-time (JIT) compilation (also dynamic translation or run-time compilations) [1] is compilation (of computer code) during execution of a program (at run time) rather than before execution. [2] This may consist of source code translation but is more commonly bytecode translation to machine code, which is then executed ...
Throughput accounting aims to make the best use of scarce resources (bottleneck) in a JIT (Just in time) environment. [7] "Throughput", in this context, refers to the amount of money obtained from sales minus the cost of materials that have gone into making them.
Backflush accounting is a subset of management accounting focused on types of "postproduction issuing;" It is a product costing approach, used in a Just-In-Time (JIT) operating environment, in which costing is delayed until goods are finished.
Lean manufacturing is a method of manufacturing goods aimed primarily at reducing times within the production system as well as response times from suppliers and customers.It is closely related to another concept called just-in-time manufacturing (JIT manufacturing in short).
The term lean accounting was coined during that period. These books contest that traditional accounting methods are better suited for mass production and do not support or measure good business practices in just-in-time manufacturing and services.
The FASB expects that the new system will reduce the amount of time and effort required to research an accounting issue, mitigate the risk of noncompliance with standards through improved usability of the literature, provide accurate information with real-time updates as new standards are released, and assist the FASB with the research efforts ...
Management accounting is an organization's internal set of techniques and methods used to maximize shareholder wealth. Throughput Accounting is thus part of the management accountants' toolkit, ensuring efficiency where it matters as well as the overall effectiveness of the organization. It is an internal reporting tool.
An enhancement of "just-in-time" is the so-called "just in sequence" (JIS). Based on the JIT principle, the products are also delivered to the customer in the correct sequence. JIT is now standard throughout the automotive industry. It is used, for example, for interior parts (seats, airbags, steering wheels, dashboards) or painted parts.