Lean accounting refers to the simplification and optimization of accounting processes to enable businesses to operate more efficiently and cost-effectively. This study, which aims to explain lean accounting practices and their advantages and disadvantages, examines applications such as value stream costing, kaizen costing, target costing, simplified financial reporting, visual management, and reporting. Through a literature review of domestic and international publications, it was concluded that the prominent advantages of lean accounting are cost control, increased productivity, continuous improvement, and competitive advantage; while the notable disadvantages are focus on short-term goals, difficulties in employee adaptation to lean accounting culture, and high investment costs encountered during the transition to a lean accounting system.