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The objectives of this article are to develop the strategic plan of lean accounting and cost management for Small and Medium Enterprises in Thailand. It is the qualitative research using the in-depth interview. The three key informants are lean professionals, accounting professionals, and SMEs entrepreneurs. The interview result was found to be consistent with the 4 dimensions of balance plan concept consisting of (1) learning and development perspective, (2) internal process perspective, (3) customer perspective, and (4) financial perspective. The researchers then applied the calculation method formula to analyze the production cost for achieving the efficiency of the lean production process through the accounting adjustment to reflect the actual costs raised in a production cycle. This can be used to analyze which cost of production process should be improved from the inefficiency or which cost does not create value but waste. The mentioned calculation formula was shown in Microsoft Excel in order to be easy-to-use for cost calculation and fractionation.
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