Course Content
Accounting Fundamentals #1-org (Copy 1)

Brainstorm potential solutions

Do not re-invent the wheel

If the problem is similar to a past problem, use that experience and adapt it

For each potential solution, identify:

Positive outcomes (pros)

Negative outcomes (cons)

Each pro and con does not carry the same weight

The number of solutions and the time spent analyzing should be in proportion to the magnitude of the problem

Small problems do not warrant an analysis of every possible solution


Now that you know there is a problem, what is it and what the cause is, time to move on to potential solution

Go through bullets, also mentioning:

  1. Brainstorm solutions – everything and anything that comes to mind

-Doesn’t always have to be realistic or cost effective, but just would solve the problem

-As we mentioned, always leverage what has been done in the past where possible

  1. For each solution now map out the pros and cons

-Important to note that each wont carry the same weight – need to keep that in mind in our analysis

Qs: Does everyone know what I mean by that? For example, cost typically carries a large weight, vs. something less important like may be timing, if its not urgent

Again, we need to make sure the resources used to analyze the problem are in line with how big the problem is