Okay, we're back, this is Dave Vellante with Jeff Kelley. We're here live at IBM's IOD conference at the Mandalay Bay in Las Vegas. This is the second year for theCUBE where we've been at IOD, we go out to the events, like information on demand, we extract the signal from the noise, which is what everybody's trying to do with big data and analytics. Wes Hunt is here, he's the Vice President of Analytics at Nationwide Insurance. Wes, welcome to theCUBE. Thank you. Great to see you, thanks for coming on. So, tell us a little bit about your role at Nationwide, we'll get into your business a little bit. Well, Nationwide is a mutual insurance company. Since 1926, we've been selling auto insurance to our members, and we also sell many other products, homeowners insurance, commercial insurance, pet insurance, financial services products like annuities and life policies, mortgages. My role in the marketing organization is help us understand all of that customer data that we collect, and to draw insights from that and allow us to help take action to improve the relationships that we have with our members. So what's going on in your business? I mean, obviously there's a lot of new entrants, there's been a lot of pricing battles that I think you guys have tried to stay above the fray, but still, a lot of people say, oh, cheap insurance, great, I'll buy cheap insurance, and then it's, uh-oh, when there's a problem, but nonetheless, a lot of competition, a lot of pressures on your business, I wonder if you could describe those a little bit and talk about how you guys have responded. Sure. Well, the insurance category, the property casualty category is extraordinarily competitive. Many, many insurance companies, and we're all going after a fairly mature group of customers. What we seek to do is we seek to differentiate on service. Now, there are some companies who will differentiate on pricing, but our model is to differentiate on service, and we do that because we're a mutual insurance company, and we really focus on seeking to deliver great experiences for our members. So, yeah, so explain a little bit about what that means, service in an insurance context. Sure. Well, the insurance, the experience that consumers have with insurance tends to be low involvement, right? You'll sign up for insurance, and you'll get a bill once in a while, and then you might have a crash, and you need coverage. You need to be made whole. Well, the experience that we seek to deliver for our members is really to be proactive, to demonstrate that we know our customers, to care about our customers, and to be easy to do business with when they need to have service, and that's really where we focus our efforts. Yes, okay, so once a year, everybody's going to relate to this, right? You'll get a form in the mail, and it's okay, here's your coverage.  Sure, so we look at what we describe as moments of truth, and through analytics, we've been able to determine which moments of truth matter for the members that we serve. And when you get one of those bills, for example, sometimes customers value a needs-based assessment to make sure that they're adequately covered if something, you know, poor would happen to them, and we use that as an opportunity to really reinforce our value proposition, which is being on your side. Now, how do you do that? Do you do that through the agent? Is that something that you use? Yeah, nationwide has a unique distribution model. We serve customers online through agent offices and through telephone call centers. What we seek to do is deliver that same great experience regardless of the channel that consumers like to do business with us. And so we work on not only analyzing data, but making sure we deliver data into the hands of those who are working with our members so they can deliver that great experience. So that consumer interaction occurs between the customer and the agent, back-ended by your infrastructure, your knowledge, your data, your best practice? There's a lot of data collected, and there's a lot of data that needs to be adjusted to make sure that we understand what it means, and then we simplify that and deliver it back to those who are working with our customers to make it easy to understand data insights, and they use that to deliver our service promise. What's the evolution of your analytics business look like over the past, let's say five to seven years? Where did it come from and where is it headed? Well, nationwide has always been on your side. Since 1973, that's been our jingle. And so we really are a member-centric company. But we had to do a lot of work to consolidate some back-ended systems that stored customer information and policyholder information and claims information, and we did that over the last five years. Really to focus on bringing a complete view of our customers, a 360-degree view of our customers, and understanding of the interactions that they've had across the different channels, and then we seek to analyze that information and identify areas where we can help deepen relationships. As an example, we want to make sure that consumers don't have to retell their story. Have you ever had one of these experiences, and it's consistent across many different consumer categories, but you're on the phone with one person, you have a problem, they can't help you, so they transfer you to somebody else, and what's the first thing you have to do? You have to retell your story, right? Well, you have to retell your story because the data isn't traveling along with the phone call. What we seek to do is really break down those barriers, put that information that's critical to the experience into the hands of those who are serving our customers, and in doing so, our customers get better service. Well, I imagine in addition to the different channels and touchpoints with customers, you've also got different lines of business. You've got home, you've got car insurance and other types of insurance, and I imagine I would guess that those had kind of developed in silos over the years, and that would be, I would imagine, part of the integration and kind of laying the framework for this analytics-driven culture is to bring those together to get that 360-degree view. Absolutely. We believe that members are members of nationwide, and they think of themselves as members of nationwide. Not so much between one business unit or another, but they're served by the company, and so we really need to focus on making sure that all that data, where they've invested in us by trusting us with their data, is put together in a way that allows us to demonstrate that we know them, that we can care about them, and that in using that, we're easy to do business with. So you've got all these data sources, kind of, I guess you might call traditional data sources that you've been building over the years. What has been the impact of the so-called big data movement at nationwide? Are you looking to work with those types of data sources, outside sources, to serve your clients better, maybe social data to kind of be more proactive in finding issues with certain policy holders who might be airing their grievances on Twitter or wherever? What is the impact, or what is the work you've done in sort of the big data space? So we focus on a lot of data, different types of data sources. Certainly many of them are structured data sources, data about profile, customer profile data, customer preference data so that we honor preferences, data about the experiences that they've had with the company, and then we also are beginning to utilize some data sources like the social stream and to listen to customers and use that in our marketing research and to help make sure that we're responding when there's an opportunity or a need to respond through social media. Our focus is really to seek to understand the customers as well as we can, know them better than anyone else, and then use that information in a way that will help us demonstrate that, because at that moment of truth, the moment when a customer is delighted by service, that's when these big data and analytic investments come to life.  What is the, do you have kind of a lab model essentially where you're looking for new use cases and you're testing things out with maybe subsets of customers? How do you actually get started with new types of analytics? Because we have a lot of practitioners who watch theCUBE and they're very interested in some of these use cases but really not sure where to get started. That's a great question. And so we focus on seeking to get rapid insights. We use methodologies similar to agile development methodologies where we seek to iteratively answer these questions. And in doing so, we get more rapid insights. Now, if you don't then tie that agile approach to a consistent set of problems to be solved, you could come up with a little bit of a scattered approach to problem solving. So we seek to define a research agenda and that agenda really guides how we execute our research. That agenda in the area of customer analytics where I work is really seeking to understand what are the interactions and that customers engage in or the company engages in that cause retention to be maximized. How can we create the most retention benefit as possible serving our members so they don't have to go and look for other insurance coverages? We also, and that agenda can last for multiple years because it's a very rich area of understanding. It's a complex product and it's one that we seek to really understand. We also have individuals who, based on the knowledge that our partners within the business who've learned what we can do, often come to us to then seek additional areas of investigation. And so we'll work with them to strive and find insights that are gonna drive business for us. GPS data brings some new opportunities for you. You've partnered with Ohio State Police to do bait cars, right? Maybe we could describe that concept which is a very cool idea. And also some insurance companies are saying, hey, voluntarily put this GPS in your car, prove your good driver and cut rates. I wonder if you could talk about those two trends. First of all, what are bait cars? So explain to the audience how that works. Well, so one of the areas of loss in insurance are individuals who are, engaging in fraudulent activities or are in theft rings that cause consumers who are honest and good consumers to have to pay more for their insurance. And so what bait cars do are to help the police catch those rings that are operating car theft or are focused on stealing cars or organized crime that's sort of supporting that. And so we support that through some of our claims safety initiatives. And it's a good partnership with us. Yeah, okay, so the idea is you're putting GPS and audio visual tracking within the car. The thieves don't know which car is a bait car. And so it makes them think twice. And maybe if you can avoid some of that theft then it's good for insurance rates where we operate. And then how about this trend of voluntarily putting a GPS in your car?  How do you deal with that? What are you seeing as trends there? Well, we see that as a fairly significant trend in the personal auto insurance marketplace. And progressive is really the leader in that space. And others are following closely behind with the devices, telematics devices that individuals can use. And based on their driving behaviors can sometimes, oftentimes get better rates. That's a process where individuals opt in to that product. And so when they do, they are agreeing to demonstrate their driving record and use that. And then that's used in the pricing of the insurance car. So do you expect the model for that will be sort of almost like a pay-by-the-drink, I think a cloud computing, right? Over time, sort of adjust as you adjust your driving behavior, is that where telematics will ultimately take this? Well, we think that telematics is a growing area for us. And one that's, we're just seeing the earliest adopters right now. It will be here for a long time to stay. Yeah, I would suspect virtually that that would be, at some point it won't be an opt-in, it will just be the way things are done. And potentially moving into maybe a real-time insurance, wouldn't that be great where you don't have to pay for insurance in the days you're now using. Oh, your car. That's how you drive, right? You could change the entire industry in really an entirely new way of interacting with customers. So what are some of the more interesting things you're looking to do in the future? We've talked about kind of the telematics data. There's some other areas, to the extent that you can, I know you don't want to tip your hand to your competitors, but obviously you're in a very, very competitive industry. What are some of the ways you're looking to use data in the future that you think might give nationwide kind of a competitive edge? Right, so we believe in taking action on the insights that we develop. And so a lot of the opportunities that we have to identify areas of improvement really have to pass the threshold that, A, the organization is able to adopt those insights and act on them. And B, there's a willingness to do that. So much of our focus in analytics is really to understand and act on those insights. Where we're focused right now is really on retention. We're seeking to move in pretty rapidly into making sure our sales engine is operating as efficiently as possible. And then there's some, of course, there are always opportunities to find ways to improve through continuous improvement efforts using analytic insights to help drive that and become more efficient, making sure that we deliver efficiently with our members and operate at the cost that is as efficient as possible, as small as possible to meet our needs. And let's talk a little bit about IBM. We've seen actually quite a few customers today, both on stage and here on theCUBE. And most of them are talking about IBM as really a partner and less as a vendor. Working closely with IBM to kind of develop some of these new capabilities. Talk a little bit about your relationship with IBM. Not just the technology, but the relationship around actually building these capabilities that are really designed to deliver real business value. Well, we've worked extensively with IBM on the effort to build a 360 degree view of our customers. And that effort is not only in the hardware and software arena, but also in services. And so what we find is that to help solve a problem, we go and find the individuals who have great skills and deep knowledge. These are really enterprise class systems that are being constructed and they have to be available to 24, seven, hundreds of different sites and online. And so you have to make sure that the engineering is really strong. And we found that the effort that we've engaged in really helps when we had IBM help products do that and then the services team help us deliver that. You hear a lot about individualism and marketing to the individual consumer and your models as an industry are generally based on aggregated risk. As you go more toward the individual, how or if does that and how does that change your models of how you approach the business? The model is a really personal one. The pricing, of course, is based on pulling risks and the nature of insurance is that you're paying in so that you're gonna help others when they need it. And if you need it, then someone else has paid in to help you. That process is designed to make sure that you're able to meet those promises when you need to make them. I don't think that that's gonna change. The nature of that product, the insurance product has been around for a long, long time. And what's gonna happen is that increasingly consumers expect personalization. You expect personalization in your phone bill, you expect personalization on your cable bill and consumers have expectations of personalization that just naturally flow into the less tangible service categories as well. And we're seeking to get ahead of that curve and use that as a way to differentiate our value properties. So that's a data opportunity. It really doesn't change your back end business model. I think the business of insurance is pretty consistent and its structure is going to be here for quite a while. One of the things we've been talking more and more on theCUBE, especially given this whole big data theme, is information quality. I wonder if you could talk about that a little bit, specifically from an organizational standpoint, how prominent is the information quality discussion? Who's responsible for information quality? Do you have a chief data officer, for example, or a data czar, as some people like to call it? Well, we recognize that quality is important and quality, there's two parts of quality. There are the creators of data in making sure that we do that with good quality. At Nationwide, we focused on establishing standards for information that needs to be collected and to make sure that's put in places that are consistent with the standards that we define. And then we have to focus on quality of data for the use that you intended to apply an insight or data to an insight. And quality on the usage side is increasingly an important topic. What we find is that sometimes people have challenges in buying into quality. And so we seek to try and explain that as effectively as we can. Quality is one of those elements where an organization who values data will seek to make sure that the quality of that data is high. And we've made really strong strides at Nationwide improving the quality of data, not just in customer data, but across the board. And it's really helping us get better insights and faster insights and delivering that with confidence to those who are making decisions. Do you have a so-called data czar or a chief data officer? Are you it? We are, I'm not it. We are in the process of establishing a chief data officer role. And that should be something that's moving along here pretty soon. Do you think, maybe you can't talk specifically to Nationwide because you haven't decided yet. But I'll ask anyway, will that role report into IT? Will it be autonomous, separate, independent of IT? Do you have any opinions on how it should be organized? We think that data is an enterprise asset and that there's no one owner of data. We actually view that data are the artifacts of the business process that are executed. And therefore, there are many people who are accountable for the quality of that. And we also approach that with this idea that they're multiple sponsors. And so you have stewards of data and different teams or the stewards of different pieces of data. And we have those today. We established them a few years ago. We have stewards of customer data. We have stewards of product data. We have stewards of financial data. And we have, we have stewards of claims data. And those stewards really work together as a community to help make sure that those who are users of that data are served good quality information against which to do that work. So it's a team sport. Has to be a team sport. Absolutely. And so is it, is it, does that function sit within or do you think it will sit within the IT organization? I think it will. The governance data governance role is part of our IT organization. And it's supported by stewards are part of the business. And so that's where we get this partnership. And so that's actually a good point. I mean, where governance sits may oftentimes determine where the CDO fits. It's not always within IT. But when it is, it probably makes some sense. And you sit within the IT organization. I sit within marketing. Within marketing. Right. Okay. So the old bromide, the guys in marketing are going to spend more than the CIO and data. Well, we have a really extensive partnership with our partners in IT and the sponsors of the initiatives that we've talked about today are jointly sponsored between the chief marketing officer and chief information officer, as well as really strong partnership by the business unit presidents who are the ones who are benefiting and taking the risk of making decisions based on insights. Yeah. So the BU president ultimately, it's his or her P and L that's paying for the initiative, which I'm sure the CIO is happy about. They don't want to own that initiative. Right. So we seek to find those who are, are the decision makers? Because the decision makers are the ones who are going to benefit from these investments and make sure that they help sponsor the work. Of course, you have to do it with teams like the marketing team and the IT team to make sure that we're serving our teams effectively. This historically been a lot of tension between the lines of business and IT. No, you can't do that. You know, the whole clock computing comes about and how Amazon's trying to change the world. Swipe a credit card. Yes, you can. Yes, you can. How has that relationship evolved in nationwide? Did we talk to your personal situation between it sounds like you have a good relationship with IT, was it always that way? Did you guys have to go through some growing pains and what do you want to see from IT going forward? Well, the role of the relationship between IT and business is one where, and business defined as marketing or the sales teams or those who are owning the operations is an area that historically, so you could generalize and say is not always the best relationship. We seek to find common ground at nationwide and we seek to define who's accountable for different pieces of parts for their roles that individuals play and then we seek to bring people together. It's a very collaborative organization, the nationwide enterprise and by being collaborative, we're able to I think break down some of those historical barriers that many other firms either have experienced or are currently experiencing. We think that success has many fathers and so that's one way we approach our work. All right, Wes, last question we gotta run. So talk about Eurovision for the analytics group at nationwide, where you wanna see this going over the next five, seven years? Sure, we see analytics and data that supports analytics as really the enabler of executing our corporate strategy. And so we are seeking to make sure that we deliver great insights, ones that can help move the business forward and we do that in a way that's totally consistent with our mission and vision as an enterprise. Our vision is to stay on that path and that path is growing and we've gotta make sure that we're able to keep up. Of course, there are challenges with finding skilled resources and there are challenges with meeting the demands that come from individuals who have problems that need to be solved and our roles make sure that we're able to support and deliver those who are making the decisions in our business to help them drive forward. That's our focus. Awesome, actually, one more question if I may. For the younger people in the audience who wanna get into the data business, what would you advise, what kind of skill sets, maybe share some of your background, what makes a good person in your role, what kind of attributes? So we found that skills are one of the areas where we're concerned. So we need more talent than we have today and we believe at Nationwide that we need to grow that talent. So in 2008, we established a partnership with the Ohio State University to help us define individuals who are skilled in conducting analytic research and really to develop this talent pipeline that will allow us and Nationwide access to resources that are gonna help us drive the business forward. If you're looking at analytics as a career, I would emphasize developing skills in rigorous problem formulation. What I mean by that is strong critical thinking skills. This is not computer science, it's just good strong thinking skills. I'd balance that skill in critical thinking with the ability to communicate and synthesize information. These great analytics that are left on the, that are understood by those who have to use it are likely not gonna have same buy-in as great analytics that are understood. And then of course, there's a strong element of developing the skills to actually be a practitioner to develop those insights in a rigorous way that's going to be accurate. We believe at Nationwide that you have to have skills in computer proficiency and what I mean by that is you're going to have to be able to write some code. You have to have skills in quantitative methods that's statistics and other mathematical approaches to apply to the data. And then you have to have skills in understanding business process. So really at the heart of analytics is an understanding of what is the business that is being executed in your interpretation, how effectively that's working. And those three skills are really the skills that are found in many data scientists. Wrap that with problem solving and synthesis or visualization and what you find is a really well-rounded individual who will have tremendous opportunities to learn and grow and influence organizations over time. Yeah, that's great. I was thinking you were just describing the modern day data scientist. All right, Wes, thanks very much for coming to theCUBE. It was great to meet you. And I really appreciate your time. Okay, keep it right there. We'll be right back with our next guest. We're live in Las Vegas, IBM IOD. This is theCUBE.


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QuickBooks Online 2023. Bank feeds add remaining transactions and bank rules. Get ready to start moving on up with QuickBooks Online 2023. Support a counting instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category. Further broken out by course each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable. So once again click the link below for a free month membership to our website and all the content on it. Here we are in our bank feeds practice file we started up in a prior presentation using the 30-day free trial we also have open the free QuickBooks Online sample company if you want the to open at the same time we suggest using the incognito window or another browser to open the sample company you can open incognito if using Google Chrome by selecting three dots in the browser select incognito window type into the search engine QuickBooks Online test drive we're using the sample company to compare the accounting view the one the bank feeds practice files in and the business view the one the sample companies in you can toggle between the two by going to the cog up top and switch the view down below we're gonna be duplicating some tabs like we do every time right click on the tab up top to duplicate it and then we're gonna right click again to duplicate it it's going fast because we do this every time back to the tab to the middle we're gonna open up our financial statements reports on the left-hand side the first one of course being the balance sheet the balance sheet and then if you're in the business view by the way the reports are in the business overview on the left and then the reports so that's where they are at there tab into the right go into the reports down on the left this time the profit and loss the P and the L close in the hand boogie let's change that range we're going from 010122 tab 123122 tab running it to refresh it to the middle close that burger scroll up to the top change the range 010122 tab 123122 tab run to refresh then open up the bank feeds we're gonna go to the tab to the left to do so we're in the banking we set up the bank feeds in a prior presentation banking tab if you're in the business view by the way the bank feeds are in the book keeping transactions bank transactions okay so now we're just we've been adding all of our transactions we're just gonna finish up and do some more kind of random of the transactions and add them in a way that you might do instead of focusing in on one particular rule or one particular kind of transaction so we'll go for the rest of them here and just kind of add them and we'll add the rules as we go so that we can then do the bank reconciliations related to the checking account so if you add a bunch of data like if you add if you're adding the data as you go then of course once you set the rules up more of the items will either be populating on their own as time passes because you've trained the system to be smart you've given it kind of an AI component I guess so it can like take things out of bank feed limbo and make them into the financial statements automatically or you're gonna have a lot of stuff in here that already has basically the rules applied to it and then you can apply out the rules if you're making a new account or you're entering a lot of data at one time then of course you're gonna want to sort the data possibly by date which is the default but maybe more so by the bank detail because that will then give you the types of transactions that are lined up together so that you can then go through here and basically just pick up these these transactions and make the relevant rules kind of as you go so that's what I'm gonna do here I'm just gonna try to pick up some of the rest of these so we've got the Amazon service items so I'm gonna go into that and say there's an Amazon item I think I already had an Amazon a couple Amazons up top now if this was for the same kind of Amazon income I could use the same Amazon customer in this case but if it's something slightly different maybe I say okay this is gonna go into Amazon and a different I'm making a different vendor for it and maybe I'll put it into a different income account so I'm gonna save it and I'm not gonna put a class on these ones you can add the class we turned on the class tracking in a prior presentation and then just basically add the rules as we go it's gonna be a money in and the bank text if I want it to be distinguished from the other Amazons I'm gonna pull in the information from the bank test text that will be distinguishing it that means we're gonna have the services apply to it there's only one item it's gonna apply the rule to because that's the only one we have here and then it's gonna be going to not the category of cost to goods sold but I think I have an Amazon income so we have Amazon book and Amazon Prime so maybe we have other Amazon like affiliate marketing Amazon or something so let's go to let's go to say we have an income account and let's say it's an other income and let's call it Amazon affiliate marketing I can't spell affiliate I can't spell affiliate what do you think I am a genius that's a crazy hard word so let's save it and then that looks good so we'll save that I can kind of check it so that looks good I'm gonna add it so that of course if I go to the balance sheet we'll have an increase to the checking account if I run it here and the other side's going to the income statement where we have now having another item for Amazon affiliate marketing now these three Amazons you might make them sub accounts of like up heron account of Amazon if you have these three down here as sub accounts so if you wanted to do something like that I go to the tap the right right click let's duplicate it pull in this to the left and you could say maybe I should have those in the accounting tab down below and chart of accounts closing up the hand boogie by the way the chart of accounts in the business view as we all know at this point is under the bookkeeping and then the manage and the chart of accounts but I'm just pointing it out just so we can practice just for practice I know you know where it is okay I just wanted to practice so I'm gonna make a parent account just called Amazon an income account let's make those subs of them I think that would look better in our financial statement we're gonna get picky now so now you're getting picky is that it yes I'm getting picky I wanted to look good so this is gonna be maybe other primary income I'm just gonna call Amazon and there it is so let's save it and then all the other Amazons I'll go in here and make them subordinate subordinate to the primary Amazon because that's how the Amazon people work they got they've got the primary leader Amazon lady you know like like I don't want to talk about what he just do the do stop talking just do the thing this is gonna be Amazon parent account that's what I'm trying to do like Wonder Woman Wonder Woman's an Amazon person lady isn't she anyways this is gonna go into the next one this is gonna be Amazon and then the next one is Amazon Amazon's and there we go okay so now there'll be sub accounts so let's check out what that does what does that do let's check it out I'll show you so now we've got this sub account activity so we can collapse say do I need do I really need to break out the $9 I got from the affiliate marketing maybe I should just call it you know all Amazon it doesn't seem very significant to break it out but whatever so then we've got the circle K circle K random random stop most likely for a coke or something so I'm gonna say right circle K strange things or a foot at the circle K that's a vendor that's in Bill and Ted's excellent adventure by the way in case you're wondering it's an old movie so we're gonna say this is gonna be I don't know this might be draws that I took out of there because it might have been for personal personal stuff so maybe meals and entertainment I don't have meals and entertainment or draws let's make an account called meals and entertainment the classic meals and entertainment so we're gonna say this will be an expense type of account let's call it entertainment I like to say meal so now for taxes they might have broken this out a bit so if you're trying to do this specifically for taxes you want to kind of differentiate possibly entertainment and meals if you can and then travel might be different but I'm just gonna call it meals and entertainment because it sounds cool because that's what I'm used to okay and then we're gonna say we can set a rule do I need a rule for that one do I go to circle K a lot maybe I won't set a rule this time because circle K I might do something different next time so then PayPal this is a transfer so this this should be matched out to our income over here in the cash account but let's just pretend like this one you're doing it the other way we're waiting until it comes through in PayPal and then we're recording it as income so then I would record it to whatever I got the income from in PayPal let's imagine this was like the YouTube revenue or Google YouTube it's not I don't think but let's just pretend because I need to put it somewhere so I'm gonna say category I'm gonna say hold on a second this is gonna be let's call it PayPal transfer and then category this is where I want to put the YouTube income boom all right so I'm gonna add that so it's gonna be YouTube income I'm not gonna make a rule for it but if that's what I do every time then I can make a rule for all those transfers that come in if they were all like YouTube money which they're not I'm just this is just making this up okay so these the life insurance so let's say this let's say this is insurance I'm gonna copy this and put this up top I'm gonna make it a different Primarica Primarica life and then I'm gonna say okay so this is it is it business or personal if it's a life insurance I'm gonna assume maybe it's personal so I'm gonna call I'm gonna put it into draws I'm gonna say this is something I took out of my business checking account but it's personal we'll say and so then I'm gonna say boom and I can make a rule for that make a rule and wait I'll tell you you have to do it this way quick books there's rules here you've got to do it the way I tell you to do it I'm the one making the rules I make the rules around here quick books dang it these quick books listens to me sometimes if I apply the rule it applies to that one okay so there it is let's save that one and boom adding it just to check that one out because it's a little bit different because we assigned it to a draw so checking account goes down but the other side went into not an income statement account but draws draw because we said it was for personal use and that was the rationale of putting it into the draws so there it is and so no impact on the income statement is my point that's what I'm trying to say and then the other Primarica let's say that this one let's say that this one was some kind of insurance let's say it was liability insurance or something so I don't have an insurance account so let's say insurance insurance let's say it's gonna be I'm just making this up so don't we're just gonna say it's gonna be insurance now you could have multiple different kinds of insurance so you might have a parent account called insurance and then like liability insurance and possibly auto insurance and other types of insurance or because auto insurance might be somewhere else so you might put auto insurance like under auto instead of under insurance that one gets a little bit tricky so you could have a or you could just have an account for general insurance liability insurance or whatever it is as a standalone I'm just gonna call it insurance as the generic here and then we'll create a rule rules and then we're gonna say text bank text contains Primarica 01 so we'll do that to distinguish it from any other and two of them have been applied so that that looks good good and so let's save it and something's not quite another rule already exists with this name so let's put a dot next to it or something why didn't it apply it out if another one already existed you might want to go clean up the rules over there but I'm not gonna do that right now I'm gonna select these two and then add them except boom they've been pulled in safe deposit box so we'll say that that's some kind of investing thing let's say that this is gonna be hold on safe deposit box as the vendor I guess and so we're gonna say it's gonna be investing let's just call it miscellaneous miscellaneous oh they're gonna make me spell that I know how to spell miscellaneous I'm gonna say this is gonna be expenses miscellaneous miscellaneous other other there it is and then I'm just gonna call it in this see now it gave me the the word so I don't have to prove that I could spell it but if they didn't give me the word right there I would have spelled it right anyways because I know how to I could do that it's not a hard word so you would save deposit box money out this is gonna be a bank text it's gonna be I'll just say safe deposit box as the rule name that's all I need it's only applying to one okay movie B to the end let's add it now this one looks like a rule has been applied so I'm good with that one it's over the dollar amount so that's fine I'm gonna add I'm gonna add this one hasn't been categorized so Cal Edison why isn't there a rule for that one why is this one not why is this not have been why is this not have been been added with the rule rules rules rule oh that doesn't make no sense I'm just I'm not gonna get into it right now I'm not getting into it right now just added so Cal so Cal oh this is Edison the other one was a gas company I get it all right see you get it all set for nothing okay okay so this is gonna be utilities let's say I already have a utilities account set up and then we're gonna let's create a rule for it and then we're gonna say it's a money out and bank text let's just say it just needs the Edison in there to make it happen making stuff happen test in the rule only applies to one all right let's do it then all right so there's that one's different than this one that's a gas company both so Cal let's add it add it add it and then this one is gonna be let's say that was draws draws come into our personal sides I'm gonna say category let's make this to the owner I don't really I could say owner owner didn't I thought I already had a vendor of an of an owner drawing it out I'm just gonna call it draws draws boom customer boom I don't think I really want a rule for that one because even though it's somewhat standardized I could make a rule let's make a rule for it could I make a rule I'm gonna say what hold on this is gonna be draws transfer rule it's a money out rule so to make this one specific because I really have a dollar amount that's kind of specific so maybe I say I'm not really reliant on the bank text so much as the amount so if the amount is equal to 75 and maybe the bank text has like robber in it then we'll apply it what what has to maybe it needs to be negative 75 no it has to be amounts equal to okay so I have it now to 75 and I put the two steel here and so that works I think it's the capital letters I didn't have all right to have been applied so that should be good let's save it and then these two are Verizon alright I'm just gonna select all of them and say accept so now we've cleaned out our stuff over here and if I go to my financials this is what we have constructed with mainly transactions from the bank feeds we'll take a look at the financial statements a little bit more later to just kind of look at what we've done drilling back down and more of an auditing kind of system going from what has been created drilling back down to the source documents that have been constructed mainly from the forums that have been made from the bank feeds and so and then here's you know the income statement so we'll go back in and kind of analyze this and then possibly do some bank rex and deal with that beginning balance issue in the checking account with that first bank reconciliation


So in this video I'm going to be showing how I set my mini twist. Now I've already started on this side and then I'm going to start on my other side. You can see the difference. My hair looks lackluster so I need to moisturize my hair. I'm going to be, well first of all, I washed my hair two days prior and I use goody stretchy bands to help stretch out my hair. I'm going to be using milling and hair care as my styler. Applying a little bit of water. I like to apply the water to the palms of my hand, working the water through and then applying the styler and I will also be using sweet almond oil to help sealing the moisture towards the end. So I make my twists not necessarily medium because it would take forever but they're fairly small for me and it took me about an hour to do one side so two hours total to do my entire head. This is my go-to style you guys. Protective style I should say throughout the year. I don't just do a protective style for the cooler month. I typically like to wear my hair in mini twists several times throughout the year depending on what I have going on. So I'm going to continue to twist my hair. Take some of these hair accessories that I got off of eBay for like $5 and some change and just apply some of the silver ones throughout my hair. I have fun with these. You have to be careful though because they are very very fragile so I broke a couple of them stepped on a few but I think they just added a different look especially during the holidays. So up next you're going to see some clips from a couple of the days. Well let me back up. This is how I wear my hair. 90% of the time when I have my hair like this. I just pull it back in a low bun unless I'm going somewhere then I'll do a style. So up next you'll see clips of me. This is about three days later and you can see yeah my hair was in a low bun and it's okay. So I'm going to moisturize my hair again using the same products to avoid build-up. This is an oil mixture just applying it to my scalp and then I'm going to apply some water and then the melanin hair care styler. And you guys you could do so much with twists. I think we all know this by now and I think a few of you guys even wear your hair in twists which makes it even better. But you can even wash your hair in twists, deep conditioning etc. So I'm going to again moisturize my hair and just do another style. I'll just gather the twists up and pinning them going across the crown of my head and then of course towards the back I just pin them up. Now in the next few clips I was going somewhere a little bit fancier later on that night. Don't ask me how I did this style y'all. I just did something a little bit differently. It's so funny when you're not trying to do your hair it turns out perfectly.  But yeah here's what the back looks like. Now I will keep these twists in for another three or four days but typically I like to keep my twists in for at least two to two and a half weeks before I take them down and wash. So that is it you guys thank you so much for watching. Take care. Bye


What are some of the main concerns that General Public has associated with developing shale gas? I would say that the public opposition to shale development typically goes in two directions. One, I'll call a more practical level. So it's at a local or community-based where people are looking at what's occurring to their landscape or what's occurring possibly to the infrastructure, for instance. And I mention infrastructure because one of the points of contention with a lot of the shale development as it occurred, especially on the early side, was road impacts. So a lot more traffic, a lot more degradation of the roads that were there. And people were finding that that was very problematic and they were resisting in that respect. And then there's others. So the use of water or concerns about air emissions and a variety of other things. Many of those issues have been resolved through remediation, again through policy decisions that were made and even some best management practices that were deployed by industry and or promoted through a regulatory regime. The other direction that I would mention would be maybe more philosophical. So looking at energy development through a more, again, a more philosophical lens and looking at it beyond just shale development but looking at other types of energy as well. Meaning that there was a consideration that climate then becomes a metric. So we're more interested in seeing this type of energy development versus that type of energy development. So that then becomes a consideration when you think about public response or public opposition. So really I see it in two different camps.


It's kind of really starts to finish. It gives me brand new, fresh ideas. It's absolutely a home run. Open my eyes to what technology is really out there and what we can improve at our plant. I mean it offers everything. The networking opportunities are just, they far exceed what you can get at other events. It's mind-opening. It's the biggest show you have to be here. If you're not at Pack Expo, you're being missed.


Welcome folks, we have the Dow industrial trading up 54, Nasdaq up 200, Nasdaq's the number folks is pushing away from these highs in a monster way. S&Ps, S&Ps up 32, Gold, Gold contract up $2.70 trading at 1964 an ounce. We have Silver up 68 cents, $24.99 an ounce, Lightsweak crude up a buck 33, $77, 7 cents A barrel notes and bonds, a 10-year note, up 24 ticks trading at a price point of $1,3101 the 30 up a full point plus 5 ticks at $126.30 and you get the 10-year back down to $3.7 and we were just at $4.06 and it's all about Kingdollars, look at this Kingdollar man. You talk about breaking the bottom end of the consolidation, Kingdollars down another 746, 99, 783, now that's heading to 96 folks, okay so this is going to be an explosive market. Euro is at 112, yen is at 138, British Pounds at 131 to 1 US Dollars, let's get over and take a look at the Nasdaq first because you're going to see what we're talking about here. The further that you get away from the highs folks, the higher the probability that you're going to make another leg and you can kind of see that those cues, okay the high of the cues there was 372.85, well you have 378.59 right now. We go to the composite, we take a look at the composite, same type of setup inside this composite, yeah look at that and you got to remember that when we made that retracement the bottom line is that that was only a .382 retracement on the way down, so a lot of juice left in here. GC, we take a look at the gold contract, what do we have with the gold contract, you're up $2 today, that being said though you got 214,000 contracts under its belt, that's good contract volume as you're going higher and here's the number folks, here it is, good old dollar, it's pretty clear, I'll put this up on a much larger portion for you so you can see this breakdown, you just blew out the consolidation, I mean in a monster way, so what do you get, bottom line, the next level, there it is man, the high of that level is 95, 96,900, there you go, stay right there folks, come right back.


Let's look into more practical questions on consolidation. First of all, we have considered already subsidiary company and now we are taking care of the associated companies. Associated company is basically where a holding company have 20 to 50% shareholding. So in that case, you are not supposed to add on all assets, liabilities or sales and expenses of associate into the group accounts. We use to follow the equity method and in equity method, we simply take the group share of their profits and profit before tax and the part of tax also in profit and loss account. So no sales, no cost, no expense, just profit before tax, part of it and then the tax relating to that part of profits. And in balance sheet, we just report investments in associates, simply what you paid for and plus the group post acquisition profit of associate and that is how it's a simple. So it's not a difficult job here in this case, it is simple. So let's see the question. A-limited required 30% shares in K-limited for 31.5 million on 1st January 2020. When you have to do consideration, pay key and 30% shares key for 31.5 million pay key act or E-key act 1st January. On this date, the balance of retained earning of K-limited was 38.5 million. So this is the profit which is a pre-acquisition, that is to say, before taking your number share. Our profit will start after 1st January, so this is before 1st January. At the end of the year, retained earning as per the case balance sheet is 45.5 million. Now when we bought the shares, they have the profits of 38.5 and now at the end of the year, the whole year, they generated, now the balance is 45.5. So simply how much increase in profit, that is your share and that will be recorded in the consolidated accounts. Now it did not pay any dividends during the year. This is another important thing. In case they paid the dividend, so out of this profit, that dividend is paid to you. So you have already recorded cash debit and income account credit, so that will be taken care there. Here simply you need to see if there is no dividend paid, so simply whatever is the profit, take your share and report it in your balance sheet. Now show the investment in associates of A-limited as on 31st December 2020. The simple solution, increase in retained earnings 45.5 million minus 38.5 million, that is 7 million and you acquired 30% of that. So your profit share is 20.51. Now here you must understand one thing, we acquired this on 1st of January. Let's say if you acquired on 1st of July, so this profit 2.5 million for whole year, so you have to take your share of 6 months. So you need to work out that when we acquired the shares of the associates, so in this case the whole year profit is ours, but your part only. And that is your share of 2.5 million profit and you can show this in your balance sheet. So in your balance sheet, the investments that you paid in the beginning, plus this profit 2.1, so total investment you will show in the balance sheet, consolidated balance sheet 33.6. Thank you very much.


Hey everybody, it's Bill with Come Again TV. Welcome back to This Week with Funko. This week I'm going to be reviewing the classic Fraggle Rock series that this year marks the 35th anniversary. So stay tuned. So first up we have the unofficial leader of the Fraggles with Gobo. Each Fraggle that came in the set came with its own dozer, except for Wimbly who came comes with Connor Penn, which you'll see in a little bit. But I like Gobo. This is the way they did a really good job with this figure. He even has a postcard from Uncle Traveling Matt, which is pretty cool. And this is a yellow hat dozer, which they did a really good job doing the dozers with scale size because they are really tiny in the show as well. But they got his vest with all this little things as he got they carries around. Looks like all the postcards I just folded up from Uncle Traveling Matt. Next we have the Spunky Fun Loving Red. She is the daredevil of the team. She's willing to do and try anything. And they did these are really easy pops that looks like they were very easy to make but they did a very good job with them. And she comes with the red dozer, which he looks I think this one is leader. I'm not sure if each dozer has its own name or not. Next up we have Wimbly. He is Gobo's best friend. And he like I said comes with Connor Penn, the female dozer who's wearing the visor instead of a hard hat. He actually kind of reminds me of the pilot from Firefly Walsh. And because he looks a lot like him with the blonde hair, the Hawaiian shirts. And it's just a really funny reference. Next up we have Mokie with a pink hat and dozer. She is the wise one of the group, almost like an elder. Dozer wasn't a stamp. But she's got her basic robe with her necklace. She's the sage of the group. I love people who really don't like Mokie. I do because she was the unofficial second command. And now we have Boober with the yellow hat elder dozer. Boober was the cook and the cleaner of the group. He's famous for his radish soup that he would make. And he would sometimes accidentally give people or give the other fraggles the dirty dish water instead of the radish soup that he would make. And the last fraggle pop I have isn't a fraggle. It is Sprocket. This one is the Toys Russ Exclusive Sprocket. I think it's exclusive because it's only made for Toys Russ. I wish they would have done more with this figure. They could have made him bigger since he was bigger than the fraggles instead of just making a small basically repurposed from the movie Pets Pop. That's what it reminds me of. But the Sprocket was the first thing that Gobo met when going into outer space, which is what they call our world. And he also played catch with Gobo. But I love Sprocket. I wish this one like I said would have been a little bit bigger. It could have been flocked. It could have been something different than basically just a repurposed animal from the Life with Pets movie that they did. And there is all the fraggles. The only one I'm missing is the Funko Exclusive Uncle Traveling Matt, which I hope to get my hands on here soon. But as I said before, the beginning of the video, ah, tongue tied. Hate that. That this is the 35th year anniversary for the fraggles. The came out on January 10th back then, which is a very important day for me because this was a huge part of my childhood. But make sure to hit that like button. Hit the subscribe button to see more videos like this. I will be doing an upcoming video of my new Chewbacca and the ATST Walker with all four of the Ewoks that they've done. And I've also will be doing one on the Hulkbuster from the new Avengers Infinity War movie that is coming out here soon. Okay, stay cool.