For anyone

Respond to two of your classmates, sharing your thoughts on their solutions and other ideas on how they might have solved the personal or business problems they used in their posts.

Meghan post

 This week's reading was very interesting, according to our textbook it states,"one of major obstacles to problem solving, is fixation to be able to focus on a specific characteristic of the problem which keeps them from arriving at a solution" (Goldstein, 2015). Being able to have creativity as one of your top qualities works out for those in so many ways especially being a stay at home mother to a 3 year old and of course works out in workplaces as well. When it comes to children we are constantly having to think of making things fun and having to come up with our own activities although im lucky at times to have Pinterest lol. There are tons of projects that me and my son have made out of household items, for instance turning paper towel rolls or toilet paper rolls and dipping the end in paint and making circles to even down to making an animal out of them and making a show so it is something new and different. 

Jacinta post 

 Functional fixedness is an interesting concept that I did not realize was a “thing” until reading this chapter.  Seeing how my children use their imagination to build whatever they want is impressive at times.  While I am not as creative as them anymore, I can recall a time the connector, or the latch, on my favorite necklace broke off. This day was an important day because my auntie was getting married only in a few hours and I did not have time to run to the store to buy a new chain.  To temporary solve the issue, I took a safety pin to connect both sides of my necklace to hold into place. It was not the ideal solution, but it solved my problem. 

 Be constructive and professional in your responses with the next two post

Derek post

1. I would report the information regarding the financial hardship of that company to my superiors. To me it shows either a lack of financial responsibility, or a lack of financial accountability.


2. The four basic functions are Income statement, Statement of owner's equity, balance sheet, and statement of cash flows.


3. Income statement, describes the amount of expenses, income that the company has over certain period of time. Statement of Owner's Equity, explains the amount of changes to an owners equity, due to income or loss over a period of time. Balance Sheet, can give a brief insight to an owner's assets, liabilities and equity throughout any time frame. Statement of Cash flows, show where funds of an owner are coming from whether it's cash flowing in, or cash flowing out over certain periods or time frames.


4. All of the statements are related due to different type of financial situations. What I mean by that is you have statements for your finances coming in, and you have receipts for your finances going out. You also have statements naming all the assets you may own, along with balance sheets giving a value as to what your assets equal.


5. In my opinion, statement of cash flows is the most important. Because if you do not know where your money is going, then how can you properly manage your funds in order to achieve the goals you set out for yourself or for others.

Jim post

According to google, the responsibilities of an accountant is to, “Provide financial information to management by researching and analyzing accounting data, preparing reports. Prepares asset, liability, and capital account entries by compiling and analyzing account information. Documents financial transactions by entering account information”. As far as the first question, if I was the accountant and it wouldn’t matter if the company is small mom and pop business or a big corporate company. My responsibility would be to inform the company I am working for, to be careful doing business with these guys. Whether my friend has something to do with it or not. If the company that does not pay the bills on time, we might get in trouble in our own finances. That can lead to loss of jobs for the production depart up to the executives. If I can prevent this from happening, I will do my best to choose a company that will be able to better handle their finances.  It’s unfortunate that a friend works for a company that has a bad reputation.