Thank you. I'm presenting what happens poverty in Ethiopia over the last decades in the changing economic landscape setting. I did this with David. The motivation is that, as explained from the chair, since 1995 the Ethiopian economy has experienced economic growth and the structural improvement has been seen. And then we want to see what happened to poverty under this changing economic landscape. But measuring poverty is complicated because of certain conceptual and practical issues. Consistency and the specificity of poverty estimates across time and space is challenging. Particularly in Ethiopia different commodity list and recall period over time that affects the level of reported consumption has happened. Specificity of poverty lines across space is also important. So this is important particular for Ethiopia where the country is large with 80 million population around 80 ethnic groups and with diverse agroecological setting. So the objective of this paper is to analyze the poverty, the monetary poverty supported with non-monetary side of poverty in Ethiopia between 2000 and 2001. We're using the National Representative Household Exponential Service and applying the toolkit developed by Ahmad and Simler 2010, the utility consistent approach to calculating the cost of basic poverty lines. And we put the monetary poverty measures in context by comparing them with other macro economic indicators and non-economic indicators. I shouldn't dwell too much on methodology which is a utility constant approach which involves calculating the regional specific poverty line and that ensures each consumption bundle in the region specific cost of basic need poverty line which represents the same level of utility consistency and we employ a maximum entropy approach to reconcile cases where the consistency tests are failed by using prior information to support giving support values for the maximum entropy starting point. When we analyze poverty we need to choose three things. One is what is the welfare indicator and what is the poverty line and what are the measure of poverty that we use. In our case we use the monetary measure of poverty using per capita household consumption as an indicator and the household level consumption has been constructed by aggregating into various food and non-food expenditure items. We estimated the poverty line using the toolkit prepared by Ahmad and Simler for the 20 special domains in Ethiopia including Addis Ababa and Harari. These are basically urban areas and urban and rural areas of other nine regional states. In total we have 20 special domains. Food poverty line were estimated first anchored to the quality requirement to ensure the specificity for each domain and poverty line is also based on demographic structure and fertility pattern of those special domains. We employ the P-alpha measure of poverty indices to measure the level and changes of poverty. We also employed standard tests of stochastic dominance, the second and third order stochastic dominance. We use the poverty line which serves us also as a cost of living index to map the nominal household consumption to real household consumption using the index constructed from this poverty line and the distribution of real household consumption are then used to conduct dominant tests and the stochastic dominant tests and the measure of inequality. So now the data that we use is a primary data source that was collected in year 2000, 2005 and 2011 from household consumption expenditure survey and also for the non-monetary measure we use a welfare monitoring survey which has more larger sample size than that of the household consumption expenditure survey. The coverage of these three surveys are similar particularly in the special domains, the major urban areas, the rural regions and other urban areas but in our case we merge the urban, the capital cities and other urban areas together and we have urban and rural. The sample size grew from 17,000 to 21,000 and later on in 2011 to 28,000 for the frequency survey periods. The number of food items used in the data collection process has been increasing from survey to survey. They started with 252 items, then 2005 rose to 872 and then in 2010 they aggregate some of them learning from the previous long items and had 653 items. So this is one of also the challenge when we compare poverty across time. Let's first talk about the context of the economy as a whole. There has been a structural change took place in the economy which was led by the Ethiopian government to deliver a strategy of agricultural development led industrialization. With the exception of the first two years in the decade, the real value of agricultural production in the country grew by around 9% per year on average which finally resulted in real agricultural GDP between 2000 and 2000 to be doubled and much of these growth has been driven by the production of cereals which accounts for a three-quarter of the cultivated area. In addition, Ethiopia has implemented productive safety net programs since 2005 which was helping around 8 million people per year for rural poor and this PSNP is largely a public work but with 5% of its budget going to direct support to help the disabled and also lactating mothers. In addition, several infrastructure physical infrastructure building has been done in hydroelectric power, in roads, in telecommunication and other sectors. If we see this is the production of cereals from 2000 to 2010 where we see a large increase in products of maize, wheat, beef and barley and other cereals and according to the information provided by the Ministry of Education and Finance, so the GDP grow from around 100 something to 250 billion and if we see the division between agricultural industry and service, the intention was that the industrial sector grow but it didn't grow too much but what we have seen is the growth in agriculture and in service which surpasses the agriculture in 2000 become largely a service sector economy and if we see the capital GDP per capital GDP on average grew 8% per year and when we come to our actual work we started with the poverty line between 2000 and 2011 the cost of basic need was by around 50,000% per hour there has been various differences among the spatial domain but most of this increase occurred between 2005 and 2010 where the country has faced a serious high rate of inflation throughout the survey period the changes in price of both food and then food items contributed to the overall change of cost of basic needs the non-food cost slightly rose faster in the second half of the decade than the food the food price was higher inflation was higher in the first half and the second was much higher for the non-food on average are compared over the 10 years over time poverty line estimates also show that substantial variation in cost of basic need across regions for example the 2000 the rural poverty line was 20% lower than that of Addis Abba and that of rural grade our poverty line was 12% higher than that of Addis Abba and this difference in level and change of poverty line lend credence to the need for the specificity in the construction of the poverty line when we come to the estimates of poverty and inequality we started with estimating poverty and there has been a steady but uneven progress with urban areas witnessing the greater the greatest gain in the first half of the decade and the rural area benefiting more in the latter half of the the decades and let's see this this figure the national poverty declined from 50 to 230 and urban from 41 to 14 and rural from 53 to 33 and the gains are much more higher but when we see the incidence poverty above the 2000 per poverty level there is a three distinction between the level of poverty although somewhat messy around here and when we see by rural and urban area so in urban area they gain between 2000 to 2005 and in rural areas again is much more between 2005 and 2011 and this is what we see the second order dominance where the decline in in in depths of poverty is also there but less pronounced than the incidence of poverty and even here is less pronounced in the severity of poverty the third order dominance analysis and whenever when we see inequality there has been also changes in equality the national inequality rose from point to eight to point three three and the urban first rose in the first half of the decade increased from point three eight to point four three and the later one declined to point three eight because of some urban activities regarding providing employment in urban areas and rural it has been increasing in fact the rural Guinea is more stable and this has been also witnessed by another inequality index of time index and the overall inequality that we measure is based on per capita real per capita conception and when we look at the then monetary poverty we can see the stunting in fact more tariff rates net enrollment rates and literacy and we see stunting this is based on the new war and health organization tables where it includes Africa and African countries into comparison so the national stunting was declined from 51 to 38 and more stunting is higher for males and for female maybe it's biological and we see also higher stunting in rural areas than in urban areas and we see the infant mortality it shows a steady decline this is one of the MVG course where Ethiopia has already met the MVG challenge and if we see the net enrollment rate for primary education really increase the minister of education estimate is more than this but this is what we obtained from the welfare monitoring survey and increased from 34 percent to 62 percent and both in rural and urban area but we see in secondary education is not much increase in rate net enrollment and we see also similar changes in in literacy rates in the country so when we come to the conclusion there has been fundamental structural change that took place in the economy improvements in physical infrastructure better access to improved agricultural inputs widespread social safety needs may have created a conducive environment for such poverty reduction and poverty decline substantially over the period from 50 to 30 percent the decline in poverty has matched with the changes in other monetary and non-monetary measure of well-being this confirms that the general pattern of persistent welfare improvement in Ethiopia over decades it also indicates that poverty estimates for Ethiopia are largely a reflection of the long-term trend in the broad-based growth and improvement in welfare what we have reached that no doubt for the decline in poverty but the degree to which the poverty fall over time must be interpreted cautiously as there are some comparability issues at all time related to the data sources that we have been explaining about the number of items and the recall periods that these different survey periods have been using thank you


Hello, welcome to the video where we will talk about the Bluetooth qualification. In this section we will cover the launch studio which will guide you through the Bluetooth qualification process. It is therefore a kind of application on Bluetooth.com which is designed to facilitate the whole process from assigning the project through testing to receiving a certificate of qualification. This is that all included information is also available on Bluetooth.com. The so called launch studio also contains help and everything is very well described. Let's take a closer look at the whole process. Basically you follow the tabs in the predefined forms and checkboxes. The forms differ with regards to the two basic cases that we have already mentioned in the previous video. It is a question of whether the qualification requires testing or not. So for the first we will go through the path without the required testing in the launch studio. The first step is project basics and we have selected qualification with no required testing. We already discussed before but we can highlight it here to remind. This path is intended for members using previously qualified Bluetooth end product or subsystem product type without any design changes. That means you are using another member's previously qualified Bluetooth end products or subsystems in your product with no changes or additions to the Bluetooth design. Purchasing a Bluetooth product manufactured by a third party and distributing it with your organization's name or logo. Creating combinations involving only previously qualified Bluetooth end products or subsystems without any design changes. In the form offers several boxes where you can fill in the basics of your project. It is a name of your project. If it is reference qualified design enter the QDID for the design on which you are basing your project. Search for the ID in launch studio or if you are not sure ask your supplier. Now several details stated in product declaration. You specify these items in the form. Listing date. Enter the date you want your declaration listed in the Bluetooth product listing database. It must not be later than 90 days after the date you submit your project through launch studio. Details of your organization's product incorporating this Bluetooth design including for product full name at the name for category enter the category which best represents your product. Choose the list of options. For product website enter the URL. For publish date enter the date you want the following product information to be available in the Bluetooth product listing database. No later than 90 days after the date you submit your project. Name product number, category, subset ID if applicable, publish date, product description. This is also associated with payment for the ID. It is part of the process and without this the DID will not be issued. Thus you have to pay declaration fee. After the payment you will receive a declaration ID. The declaration fee amount depends on your membership level. Declaration fee cannot be refundable. So pay attention that unused DID expires in 12 months. Then attach this declaration ID to your project. And we are almost done with this case. The rest is only verification and submitting. Thus in tab review and submit. For the project status section confirm that all project status items are marked as complete. For the project details section verify that all information is correct including your organization's contact information. For the complete the project and submit product to qualification section read and select the checkboxes and enter a signature to complete the listing. So for the second we will go through the path with require testing in the launch studio. The second scenario concerns the qualification process with require testing. This process is rather longer so a few slides more but we will go then through quickly. This path is intended for members creating a new bluetooth design or modifying previously qualified bluetooth designs. Use this path if you are creating a new design or combination that doesn't involve only previously qualified bluetooth and products or subsystems. Altering a previously qualified bluetooth design by changing the core configuration functionality. But also if you are going to qualify a design that uses a previously qualified bluetooth component product type. Similarly as for process with no require testing a couple of project basics are needed here. For project name fill a name for your project. For previously qualified design used in the qualification enter any qualified design IDs of the component product type or any other QD IDs which you are modifying and incorporating into your project. For the TCRL version default is selected. For product types choose the bluetooth product type for your qualification. If applicable enter controller core configuration. And if applicable enter also host core configuration. Layer selection. You need to be familiar with these methods but I think you can handle it. There is also a link to help. So for layer selection indicate the layers involved in your design in this section. Then there are a tab ICS selection. Let's remember what ICS is. It is abbreviation for implementation conformance statements. Basically you select the particular product capabilities for each layer. It is an extensive list. The completion is made by checkboxes and it is for knowledgeable user. This tab also contains additional information as well as consistency check button which verifies whether the selected configuration is set correctly with respect to the selected features. So select the correct features involved in your design. The consistency check tool within launch studio will help guide you to resolving any invalid combinations of ICS selections. If you are unable to resolve consistency check invalids in your project and you feel that launch studio may be in error you may file a test specification error tool. Once your TSE is approved you can submit your project with the consistency check invalids for manual approval. As far the tab is a testing here you can download test plan. It consists of list of the required tests for your design which was generated based upon your inputs before. It is an Excel file. For exporting ICS download PTS file. This can be imported in the profile tuning suit in order to conduct qualification testing. Test documentation. In following tab you can upload the test evidence. Also completed test plan as required by the PRD document. The next tab is about product declaration. You are asked to fill in particle information about the design. So for design details enter information for the specific design you are qualifying including the design name, model number, design description, hardware and software version, listing date, wifi certification id and reference integration notes. Notice that the listing date is the date you want your declaration listed publicly in launch studio. This date is limited to 90 days after the date you submit your project in launch studio. We are getting to product declaration. If you are using or combining a previously qualified bluetooth end product or subsystem product type with your new design you should enter the QDID in the reference qualified design field. For product listing list all the products and product details that use this design in combination with any reference bluetooth end products or subsystem. You entered in the previous section including product name, ID, product category, product website, publish date, description and model number. Notice that the publish date is the date you want your product information to be made public in launch studio. This date can be no later than 90 days after the date you submit your project in launch studio. Then okay similarly as for first scenario pay a declaration fee. You will receive a declaration ID. The declaration fee amount depends on your organization's membership level. Declaration fees are not refundable. It means that unused declaration IDs expire in 12 months from the date of issuance unless used to complete a project and submit it for qualification. For available declaration IDs section select an available DID to attach to your project. If no declaration IDs are available pay a declaration fee in the section above to be issued a new declaration ID. And this is the last step just to review it and submit. For the project status section confirm that all project status items are marked as complete. For the project details section verify that all information is correct including your organization's contact information. For the complete the project and submit product for qualification section read and select the checkboxes and enter a signature to complete the listing. And a short example for STN32WB5 MMG. Get your membership account first. Go to the launch studio.bluetooth.com. Hit the button start the Bluetooth qualification process. Enter a name of project and QDID by clicking on listing search. Enter STE microelectronics in searching bar and find the STN32WB5 MMG in the list. You should get QDID 170767. This you put in the required field. Then you will select the RFI. Your own or from STN32WB5 MMG, TCRL version, product type likely and product, controller core configuration for example LE controller, host core controller for example LE host. Then select layers. There are predefined checkboxes linked to the STM module. Let them be or select your preferences. Hit the button save and continue to ICS selection. In ICS selection tab you can check all required capabilities and layers or if enough let it be. You must now hit the consistency check button. It helps you to solve all inconsistencies. You may use select all mandatory ICS to select the mandatory ones. By the inconsistencies help you can solve all of them. When all ICS are resolved you can go next by button save and continue to testing. You get to the testing tab where your test plan can be downloaded. In this listing you get know if some additional testing is necessary or not or if you entered incorrect data what push you to make a testing. Download by button export ICS your ICS to conduct your qualification testing. In testing documentation tab upload all testing evidence by button at test evidence. When ready hit save and continue. In the product declaration tab fill in all required fields concerning your design and version. Then hit the button save and continue. Now you have to pay declaration fee. When paid continue with save and continue. On review tab you have to resolve all project status alerts to go farther. And then you must check the boxes to confirm the statements. The last is to click on signature confirmed and complete project. We got to the end. Now you should be able to work better with launch studio. Thank you for watching, hope you enjoyed the video and see you next time. Goodbye.


everyone. Shea Bear 1000 here. Tonight I think we've got some paranormal stuff that may have been captured during our Dark of the Moon Lighthouse tour in St. Augustine, Florida. So stick around and let's get into this. So we was at the the St. Augustine Lighthouse on the Dark of the Moon. It was a tour after dark and they tell stories about the ghost stories and the history of the lighthouse and stuff like that. So but Monkey was using my Bobloff camera. This right here my body camera and she had it night vision and there were some things that that were picked up on the mic of that camera. Now my camera didn't pick any of this up. Her camera did or you know the camera she was using did.  The clips. I've got them right down here. You know the times and stuff. There's like four different clips and let me see here. There's four different clips that are pretty interesting that she picked that her camera picked up on something and to me it sounds like whispers but it's real close to the camera and you know so I'm pretty sure it wasn't anyone else around but I'm gonna play these for you and of course I'll loop them I'll slow them down and we'll see what you guys think of this make sure you have your headphones on because it's it's very interesting and so check these out and see what you guys think and I'll come back with you. Stick around. What do you guys think? I'm 99.9% sure that it wasn't someone around us because it was so close to the mic. I know it wasn't her. I know it wasn't me. Of course it wasn't Bruno. A couple of them I'm not sure what they're saying but a couple of them you know as you've seen you'll see what I think that may be said but let me know in the comments section below what do you guys think? Is it nothing? Is it just the wind? Is it you know or is it really paranormal? Did she catch you know? Is it a disembodied voice? I'm thinking it may be. My camera like I said didn't pick up on the ones when we was in the basement so I'm thinking it may have been an EVP. Of course though if it was a disembodied voice that close to her mic mine my camera may not have picked that up so what do you think disembodied voice EVP or something else? Either way it's very interesting so like I said guys what do you guys think? Well that being said Halloween's coming up so happy Halloween everyone stay safe and don't forget to check out monkey 1000 channel and we'll see you guys in the next one. Thanks again for watching guys appreciate it. Shadebearer the myth man legend gone for now.


Welcome to Access to Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process, and own your future. Hey guys, good morning everybody. Welcome to another edition of the AccessToTrader.com weekend update show. Hope everybody is great. Hope everybody is alive. Hope everybody is healthy and happy and all that good things will come with life. The prosperity aspect of life, of course, is important. But again, if you don't have a smile on your face, if you're not waking up in the morning looking forward to something more than, well, making money, right? If that is your prime objective in life, then again, no matter how much money you will make, you will never be wealthy inside. So you have to really appreciate life for what it is, not what you want it to be. So let's talk about the market. If you look at the internals of the market, you're not going to see anything that's going to stand out on you. You had pretty much a holding pattern in the indexes pretty much the whole week. The NASDAQ composite was pretty much flat on the week, squeaked out a little bit of gain. S&P 500, again, squeaked out a little bit of game. The Dow did pretty well. But I think the moral of the story is for the indexes, you can make a very, very good argument that people are kind of tired. I think that's the best way. Investors and traders are tired. No matter how high this market gets, no matter how great the action is, it starts putting people into a situation of complacency. And I think that's kind of where the market is. I think a lot of traders or investors, both, I want to kind of use both of them as an example. I think we're getting at that point, we've been at the point that people are expecting a complete euphoria for the rest of their careers. For example, if you go back to 2007, home prices just kept on rising and rising and rising. And it was expected. We were taught from a very, very early age that, okay, if you buy real estate, no matter where you buy it, no matter when you buy it, at any time real estate will always go up. And we found out the hard way of 2007 because I built my first house in 2007. I literally closed my first house December of 2007. So I bought at the high. And we've always been taught that no matter where you bought real estate, you're always going to survive, you're always going to make money. Obviously, it's not the case. Stock markets exactly the same thing. And although we can't predict where the market will be a day from now, let alone 10 years from now, we've been programmed for years and years and years to kind of say to yourselves, no matter where you buy a stock, if it's a good company like an Apple or a Walmart, whatever the case may be, 10 years from now, 15 years from now, 20 years from now, it's going to be higher. That's been the fact. If you look at a 100-year chart, for example, on the Dow Jones Industrial, that's kind of been proven. Unfortunately, we don't have a 100-year horizon. As investors, again, you're only as good as your fundamentals. As traders, we're only as good as momentum. We're only as good as market structure. And we're kind of getting to the point that we're in this kind of holding pattern. And even though we keep on creeping higher, a lot of traders, if you speak, if you have a lot of friends, I'm not talking about people on social media, but if you have a lot of friends who do trade the equity markets on a daily basis and are active participants, they'll kind of tell you the same thing. As great as the market has been, there's going to be periods of time that you're going to see a pretty noticeable rotation. And once a year, the airlines will wake up. Or twice a year, the banks will wake up. And again, that's why when people ask me, what do I think of banks? I'm not a big bank trader. I don't like them. I don't like the Goldmans of the world. I don't like the Bank of America's of the world. Because by the time these stocks hit your radar, they're already 80% on the move that they only make once or twice a year. So I'm not really there. So the reason, again, why I trade beta is because, again, every single day, no matter how bad or good the market is, because these are the most aggressive stocks, they're going to give you the biggest ranges. So even though macro-wise, they might not be in a sweet spot, they're still able to trade those ranges intraday or throughout the week and still get yourself from point A to point B. However, where you are right now in the market is kind of this really wait-and-see activity. We're waiting for the second stimulus. We're just waiting to see what happens when kids, when all the kids, I know some states already started with school, but we're waiting to see what happens with kids going into school. Right now, there's some reports that kids make up, I think 7% of all infected COVID cases. We're also in a holding pattern to kind of wait and see what happens if there is a true second wave. Again, I'm probably one of the ones who believe that, well, we're still on the first wave. So how the hell can we get to the second wave if we're still on the first wave? So there's a lot of wait-and-see things, but at the same time, the market continues to discount a lot of bad news. So again, can the market continue to go up? Sure, absolutely. Again, we say this all the time. I'm not trying to predict what's going to happen Tuesday and Thursday and Friday or three weeks from now. I'm trying to take it day by day. And if you look at last week, you'll notice that there was a really heavy rotation out of technology. Now again, if you look at the cues, you're not going to see that. You're really not, because if you look at the cues activities, again, this was the week. It was a steady rise in the middle of the holding pattern. But again, if you do trade the market on a day-to-day basis, you'll see the majority names, not named Tesla, we'll get to that in a second, not named Apple, we'll get to that in a second, that were really in kind of holding patterns, up and down, up and down, up and down. So when you're, for example, and before I say this, let me just kind of reiterate this. I am the biggest novice trader when it comes to options. I'm not an options trader. I know very, very basic things, but I do know when stocks are in a holding pattern and we are close to stone-throws highs pretty much every day. And if you go through charts this weekend, you'll kind of see that. You're not going to see 35 different long setups. You're not going to see that five-star setup that you're dying to trade. So when you're in this kind of level of complacency and you start seeing the market, not really give you any buy or sell signal, techno-macro-wise, we're just kind of floating and levitating that direction, you start to start losing your patience. And again, patience is not just a word that we use. Patience is something that we need to practice not only as traders, but as human beings. Again, life is a series of ups and downs.  And the market is no different. So we're kind of in a place that you're going to get chopped up. And you're going to get chopped up because, again, a lot of names are sitting in the middle of the ranges. And the reason why I bring up the option stuff, I notice a lot of new traders. And again, in my opinion, I see two routes a lot of new traders take. Just because, again, most of their accounts are very, very small, they take the route, the natural gravitation of the small accounts, which I think is a major, major no-no. Okay, that's just my opinion. Or they take it to the option route, which again, you can leverage your account X amount of times. Have a max pain, okay. But the problem is when you're trading a distribution market and there is no measure potential, you are going to get chopped up. You're going to lose a lot of premiums. So what I hear a lot of times over and over again is, yeah, I hit that one trade, you know, once in a while, but then I keep on losing it through the series of next couple of weeks. The problem is a lot of you guys don't realize when the stock market goes into distribution. You guys don't realize when stocks are in the middle of the channel.  You know, if Netflix is trading in a $4 range the whole week, your premium is going to burn.  So a market like this, you have to really understand times that you get really great measure potential. And again, that measure potential always comes when they're above supply. You can call it the Bollinger Bands, whatever studies you use. But where we're in the middle of the channels are, this is when your time to really figure out how to really sell premium and do it very, very effectively. There's a time to buy premium and buy very, very aggressively. When Amazon goes, he goes nuts. When Amazon, an Apple goes, it goes nuts. When Facebook goes, it goes nuts. But there's times that they'll sit there for weeks and weeks and weeks.   And the same thing goes for a lot of day traders as well. You're going to try to squeeze water out of a rock, try to swing these stocks, and you're going to get absolutely nowhere. So when you have a distribution market or a potential distribution market, again, the only, there's two ways to figure that out. Number one, you have to watch the price action in the afternoons. If nothing is setting up for the next day and your research is going to confirm that the night before, it's very, very important to go into scalp mode or just get the hell out of the way, especially if you are trading on the option side. The last thing you want to do is buy premium on anticipation in a distribution channel. You will lose, again, I'm not an options trader, okay, but you will lose 99% of the time because there is no measure potential because things are standing in a holding pattern in the middle of their ranges. So going into this week, and again, I did find some good value, okay, at first glance I looked and I go, ah, you know what, I'm not crazy what's going on. I did find some good value this week, at least for Monday, okay, I don't want to use the word week. I'm really taking it day by day. But again, it's not areas that you want to really concentrate, okay, really, you know, really look at because, again, they're not emotionally tied stocks. So for example, I'll give you, I'll give you a perfect example. So look at Dollar Tree, right?  Okay, I'm talking about never. When the market is really, really good, when I mean good, it doesn't mean bull market. It means, you know, to the downside as well. But when you have expansion channels, whether to the upside to the downside, I would never look at a Dollar Tree, okay, it would never hit my radar. But when you're going through kind of the stall out potential distribution channel, not going up, not going out to kind of the wait and see scenario, you have to see, you have to start going to, you know, Plan B, Plan C, Plan D, Plan F, right? And when you look at a stock like this, although it looks really, really good, right? And you can see the top of the range here and it's been distributing since June and if it takes it out, it should go higher, okay? But the problem with a stock like a Dollar Tree or a Lowe's or a Procter and Gamble, as much as, you know, you can look at a really, really great setup and really find those setups that are diamond in the roughs while the indexes are going through a holding pattern. The problem is, and I say this in the nicest way, nobody cares about Dollar Tree, right? And I'm not saying that from a long-term perspective. If you're an investor in Dollar Tree, I'm not talking about you, okay?   The reason why stocks like Tesla, like Amazon, like Facebook, like Boeing, right? Like Apple are very, very significant in the trading world because there's an emotional tie-up to them, okay? People are really going to love Tesla or really going to hate Tesla and emotion drives stock prices because if people are hating a stock, right? For example, like Tesla and the stock, you know, gets really, really going, it's going to crush shorts. If the stock market is going to the other way and taking the stock down and people are loving Tesla and they love the company, they love the car and they love the capabilities and what could happen in the future, it's an emotionally driven stock. That's why the average range is always, always going to expand. Same thing with Amazon, same thing with Facebook, same thing with Apple. When you have a stock like Dollar Tree, it's Dollar Tree, okay? No matter how good it looks, you're not going to get that $12 move in one day. You're not going to get that $20 move in two days. It's Dollar Tree. So when you have a series of setups like this going into the new week, although you, of course, you can make money on them and you can prosper on them, but you're not going to get that euphoric Tesla type of move. You're not going to get euphoric Zoom or Netflix type of move and you have to kind of adjust your expectations for measured potential and especially when I'm, you know, and again, and I like this setup and I will trade this setup if it confirms this week just because it's a whole number, three month distribution and hell, this is the best setup I find.  But again, if you are an options trader or if you are an aggressive intraday trader, you have to kind of focus on these type of setups until everything plays out. And when there's no emotional carnage, right? When there's no emotional attachment to stocks, they're not going to give you that measured potential. So although again, I like Dollar Tree, right? I like a name like this. I think it looks great. Okay. And if this is, if this was like, for example, Netflix, I'd be in this trade with two hands, two feet, two eyes, two ears, everything, right? I'd be all in, but it's not. Okay. And the reason why most traders are not getting to where they want their career. Number one, they're putting too much pressure on their development. A lot of new traders again, think that they need to figure everything out in the first three weeks of their trading career. They're trying to put their expectations on some random avatar on social media. Okay. And they're not letting their progression develop organically. And they're trading Dollar Tree the same way they would trade Tesla. They're trading, for example, Home Depot the same way they would trade, you know, trade Apple. So although these stocks are good, the reason why I trade beta, you know, in the first place and have been trading them for years is because of the average syringe. It's because of the emotional attachment. It's because some guy on stocks would say, you're wrong, Dan. You're wrong. Okay. I'm wrong. Okay. I love that, right? I love that. Again, that's, that drives emotion, that drives price action, that drives short covering, that drives, you know, that drives everything that we need to take advantage on the other side of our trade. When you have a trade, for example, like Dollar Tree, this is Dollar Tree. Maybe Morgan Stanley is buying it. Maybe, you know, maybe, you know, Fidelity is buying it. Who knows? But again, you have to kind of, you know, put yourself in a situation to adjust your trading levels into names while there's a distribution channel. And although, you know, I do like some names this week. Dollar Tree looks pretty good. The whole, you know, the whole, you know, electric car revolution is obviously still very, very strong. NKLA was a really good trader this week. Even NIO is waking up again. You know, needs to confirm this channel. Obviously Tesla's leading price is higher. But again, going into this week, you have to be very, very diligent. If you are an options trader, again, majority of your bets should be selling premium, not buying premium until we kind of get above channels. And if you are an intraday trader, okay, you really have to start looking at alternative things. Trade cash flow, okay. Be more quality than quantity.  And you can completely mess up a tangible setup because your expectations are completely blown out of proportion. So if you look at where we are going to the week, again, nothing settled, nothing up, nothing down. We're in the middle of the channel of the Qs. If you look at the IWM and again, it's kind of the same thing. You know, we're drifting a little bit lower. We're drifting a little bit lower. You know, can they kind of back test the 10-day moving average? It could, but again, you're not going to feel it. You know, you're not going to feel it in market sentiment. You're going to feel it more on distribution. So when you look at a lot of names, although again, Amazon is not, you know, putting in a buy or sell signal. It's just there on the video. And again, they're coming out with earnings. You know, had a really, really big move. It's getting a little tired. People are waiting for earnings. Again, it's just not there until you're going to see earnings. Just nothing there. Shop again, you know, you know, a little bit of a sell signal a couple of weeks ago. It's kind of straddling. But again, it's not going up. It's not going down. Again, you go through chart after chart after chart. Even a Facebook that had some really, really aggressive bets this week out of the money, especially towards December and January. We saw 295s, 300s, 310s, 325s. So there are betters. They are positioned themselves for four or five months from now. But again, you're not getting an area that Facebook is going to be tradable until it starts taking out this range here, or it takes the range there. So you have to be very, very patient with it. And again, if you are a beta trader, again, like I said, sell premium this week, don't buy it until these things really make a definitive stance one way or another. If you're trying to trade these things for more than cash flow, you're going to burn out your premium very, very quickly. Again, just kind of my two cents. I'm not an options trader. I am probably the biggest novice when it comes to options, but I do understand measured potential and I do understand what happens when stocks are stuck in between channels.  It's not going to make it appreciate. So very solid trading week Friday was very, very slow. There were some pockets of pivots that you could take advantage of and we'll get to the pivots in a second. But it really kind of opened up my eyes before I even started even doing a pretty, pretty thorough charting, couple of charting sessions over the weekend that what we're kind of in store for this week. So again, think of the word distribution. Think of the word, think of the word kind of chop, right? I think that's the best way to describe it, especially if you're new traders. But a distribution lasts about three or four days. I thought Friday was day one. Again, you are going to get some opportunities, of course, but don't think for a second you'll be trading seven to 10 times in a day with that much value going through this week. So I do like some names. I definitely like some names going through this week. Obviously Dollar Tree, and again, I'm not going to focus this whole session on Dollar Tree, but again, how many times are you going to find a stock going through a three-month distribution that looks this good, right? So you have to wait for the top of the channel. But I saw a lot of names that look like they're about to break down. Look at Roku, right? Roku came out with earnings, and you can see here pretty much for the last one, let's say one, two, three, four, five, six, seven, eight. You had six out of the last eight days that either closed lower closes than opens or just red on the day. And that's a sell signal, okay? That really is. And when you're going through distribution, you're looking for cleaner moves. And you can see here three times it held its bottom support in the daily. And again, if this thing starts cracking, it'll go lower. If you look at, for example, BY&E, same thing, right? It held its bottom chart level here, and it's kind of the same thing as Roku. You had one, two, three, four, five, six, seven. So the last six out of seven days were either lower closes than opens or just the red days. So if this thing starts taking down the bottom of the channel, it's going to give you a trade lower. So again, there are some trades that look like value. Even a trade like NKLA, some pretty aggressive call buying earlier this week. I forgot what month, but if you do your own dediligence, you kind of see, we saw the 70 calls. I think they were either August or September. I could be wrong. Please double check. It was so far earlier in the week, but we started seeing $70 calls. And NKLA had a nice run here. Again, it's going through a pretty distribution. I'd like to see maybe one or two more days going sideways, but if it starts confirming this top of the channel here, it could make a run to the 50-day moving average. So that looks good. Even a name like SFIX that I, you know, I scalp this week. Again, it's had a big, big run through the spring, consolidating, trying to get above this level here. Again, we started seeing some 25-and-a-half calls coming in earlier this week. If it can just, you know, take out this distribution, maybe it could start running to the 50-day moving average.  Okay, nothing big, just cash flow. You could see here, right? You could see a couple of things are happening here. It's going very, very tight here. So either Boeing is going to start losing this bottom channel here, or it's going to reclaim the 50-day for a possible move back into the 190s or a possible move back into the 160 level. So again, very, very tight, but something has to give. Obviously the biggest move of the week and the biggest talk of the week was Tesla, right? Tesla was, and again, guys, when I tell you, I was disappointed, okay? So this was the setup come Tuesday night, right? This was the setup. It held 1365 twice, right? 1365, 1365 twice. I was sitting there, and as I was recording, if you were watching this, you know, webinar, excuse me, if you were watching this broadcast every day, you kind of saw this. This was 100-star short setup, 100-star. And, you know, it held this 13th, and it closed within $8 to $10 of the breakdown level. And this could have been 100 points at the downside. Tesla comes out with a 5 for 1 stock split. Obviously the stock has this monster, monster run, igniting obviously a lot of the electric vehicle plays as well. And now the question becomes, for example, what happens after the 2 for 1 split? I really didn't want to kind of go into it, but people throughout the week have been asking me, like, what do you think is going to happen with the split? Well, number one, let's talk about what a split is. So, you know, so Tesla announced a 5 for 1 stock split, which is basically towards the end of the month. If you have 100 shares of the stock, you're going to have 500 shares when splits. The post-split price is going to be somewhere around $400 a share. What a split does is usually attract more retail investors, because again, retail investors, not everybody can allocate funds for a $1,600 stock. Hell, not most retail investors could allocate funds to a $400 stock. But again, it does make the price very, very much more attractive to kind of reel in more investors, more traders. It does kind of bring in more liquidity because of those things. The spreads will be tighter. And it sounds all great on paper. But what happens after a stock split is the structural balance of the trading vehicle kind of gets distorted. So for example, a lot of you guys don't know this, but when we started trading beta, I was trading Apple pre-split, right? And they did a 7 for 1 split. And Apple was an amazing trader, just absolutely amazing. And the stock started trading really bad for like a year. And it took about two years for Apple to really start trading well again. And the idea of a lower price, more liquidity, tighter spreads, sounds good. And it's probably great for a longer term investor. But it kind of really distorts the normal price action. And if you've did trade Apple the first pre-split, and obviously they just announced another one, you kind of know what I'm talking about. So the idea that, hell, we can do more size and get a smaller move, and everything will be great. It sounds great on paper. But if the distortion of market structure really prohibits Tesla from being Tesla, well, that's going to be a problem. So maybe Tesla turns into Roku and that's great. Because again, you have a stock that's going to be lower priced and you could do more size and more volume and tighter spreads. Or Tesla could turn into freaking Chipulti. Who knows, right? Who knows? It's kind of a wait and see. Apple also recently kind of announced a stock split as well. Does that start a domino effect? Does Amazon come out with a split? Does booking.com come out with a split? Does Chipulti come out with a split? Does Google split? Again, sometimes, again, it only takes one spark to really get the flame going. Again, we'll see. So I want to kind of, I will make some sort of follow up, not necessarily video, but follow up on Tesla after a first week or so after trading at post-split to kind of give you a really good sense of where my thinking is after the split. It looks good on paper. Sounds good on paper. Makes it more accessible to the retail investor. But the moral of the story is it's a wait and see. Again, maybe it'll be good. Maybe it'll be bad. We can't see. So let's sum up Friday's pivots very, very quickly. I thought this week was good. I thought this week was actually pretty solid. And I think what happened towards the end of the week, we started seeing a lot of hesitation. And when you have a lot of hesitation, you're starting to see a lot of names just kind of stopping. And I think that's exactly what happened. I think that's exactly what happened to the end of the week, especially Friday. And please excuse me guys, for some reason my internet, I don't know why my internet is slow here. There's a storm outside. But the moral of the story is there's a lot of names that I think this week you have to be extra patient on. So if you look at the pivots throughout Friday, again, you'll notice it wasn't that prototypical gangbusters day on Friday. And just because it illustrated exactly what we talked about through the beginning of this video. But there was some good value. There was definitely some good value there. And let's talk about it. So Amazon 3180 rejected several times, and it never got there. Here was definitely the biggest move of Friday's session. NVIDIA 462 needs to build. Again, a lot of really aggressive call buying coming in ahead of its earnings. So here's the 62. And big, big move. Trade it to 468. This was definitely the biggest move of the day. Very, very thin, but a very, very aggressive move. Nevertheless, Alibaba never got there. Apple never got there. ISRG never got there. SHILL was pretty good. SHILL was a pretty good mover. 2415 needs to build. Here was SHILL. So here was SHILL. Here was the 2415. Trade it to 25. 25 got reclaimed and went to all the way to 2657. So that was good. But again, when you're going from the video, the next thing out of my mouth you're trying to hear is, well, maybe Apple, maybe Tesla. And the point is, again, stocks were very, very slow and it's going to reflect going into at least Monday, in my opinion. Nothing on SFIX, nothing on Halo. Halo opened up lower and continued to go lower and nothing on MRNA, nothing on BEYOND. You kind of get the point here. There's a lot of very, very slow methodical action. NVIDIA take on the way up. SHILL, nice spike there as well. Boeing never got to the downside. Tesla never reclaimed 1674. So it was a very, very slow day. Never got down to the 3100. Never got down to the 451 for a balance. Never got down to support. Boeing had a nice little pop here. Lunchtime pop, 178 needs to reclaim and build. Here was Boeing. So reclaimed at 178, right? Reclaimed at 178, went to 79.57. Why did it get rejected at 79.57? That was exactly where the high was from the previous day. So that's the area that it needs to reclaim. So that was it. I mean, that was basically Friday's session. Letter M never got there as well. Tesla, you know, Tesla ran up a few points and then came right back down. So again, nothing really going on on Friday, which basically, again, mentally needs to put us into a situation that we have to kind of expect the action to kind of re, almost mirror what we saw on Friday afternoon.   I need to trade. Yeah, you need to trade, but you need to trade properly. And again, remember, it's not how much, how many trades you put on, it's how many trades you put on properly. So guys, stay patient this week, at least the start of the week. Stay patient, let the trades come to you. Always be something, whether it's option flow, anything, just stay very, very patient. And the key to the game is, again, stay in business. Guys, God bless. Have a great week and I'll see you tomorrow. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault, where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.


What is up everybody, Jason here for jaspyskatesbreaks.com Jaspy's High Roller Mystery Crate Chasing Kobe Edition, number one random hit just sold out guys So these are the five chasers here, it seems like the Mahomes, the Caleb, the Shohei, the Corrine Carol and then that Bird Magic Johnson Gold Vinyl 101 Now of course that Kobe is the one we're going to be giving away So basically guys, to get a chance to win that Kobe of course is you have to get a spot in this break whether you bought one or you want one from a filler So for this break here we're going to randomize the names after we showcase the hits Now there's five crates, five cases, five spots in each crate So what we're going to do is we're going to generate a case numbers one through five We'll open up that case for you guys for your number one, showcase the five hits We'll type in the customer names which you have here and then type in the hits Randomize both lists, see what you guys match up with and that's what you get Now once we sell the five cases we're going to grab the list of all the customer names that were in all five crates Basically one in 25 shot and then of course top name gets that Kobe Bryant So don't have to do any randomizes right now, these are the customers that got in there What I'm just going to quickly do is roll a dice for the case we're going to be choosing here We have five cases right here in the back sealed up Three in a five, eight times, let's see which one we do here One, two, three, four, five, six, seven, and eight Boom Three in a five, eight, eight, four So we're going to do number four I'm not sure, Brace, but we can try it Alright, so now we're going to do guys a showcase the hits in case number four So there you go right there, case number four, roll them right here I'm not sure what order they're in, but let's go with the first one here A one of one Mark Maguire from Superlative, Leaf Superlative, Sports Alright, that's a nice hit right there to start us off to showcase Next one, Gunner, I'm starting to have Gunner, Jackson Holiday 2022 Bowman's Best Masterpieces Autograph Number to 99, integrated a PSA 10 That's very nice right there We got a J.J. McCarthy, Big Kahuna Autograph, PSA 10 Number to 150, 69 out of 152 Nice little smiley face there at the end of his name Then, woo, how about a Mike Trout 14 out of 15, three color patch and autograph, how about that man And last but not least, there is one of the chasers guys It's a Caleb Williams from 2022 Goodwin Champions SP authentic, future watch autograph, PSA 10, beautiful Very nice, so that is one of the chasers there And as you can see, box is empty now So again, quick little recap there, Caleb You got the Trout, J.J. McCarthy, Jackson Holiday And then the Mark McGuire 101, very nice So now we're going to switch scenes guys, and really quickly We're going to type in the names So you have a fresh dice, names And like I said, first hit was a Mark McGuire Auto 101 And then Jackson Bowman's Best PSA 10 Autograph You got a J.J. McCarthy, big Kahuna Auto, PSA 10 Trout, patch auto, future watch autograph, PSA 10 Alright, so one, two, three, four, five There's the names, there's the dice roll, let's roll it Two out of two, four times, there we go One, two, three, four Boom, four times, Brian Johnson at the top, down to Allen Two out of two, four times, four times One, two, three, four Boom, four times, four times J.J. McCarthy, big Kahuna Auto, down to Mark McGuire Boom, four times, four times And let's see how it matched up guys So Brian, last but not least, J.J. McCarthy, big Kahuna, PSA 10 Autographs going to you, Allen, congratulations with the Caleb Williams, future watch, autograph, PSA 10 Jordan getting the Mike Trout Diamond Icons patch Autograph to 15, Gerard Jackson Holiday Bowman's Best Autograph, PSA 10 And Allen, you're getting the one of one Mark McGuire Autograph from Leaf Superlative So there you go guys, thank you guys so much again It was a fun break, like I said, if you guys want to I guess to run it back, we do have four more cases worth So obviously the Caleb's not going to be available anymore as a chaser But we still have a lot of other ones we can chase So I appreciate it guys, jaspyscasebreaks.com


in the past two years, not to have conflicts to get back to your country, but also to come back to your reporting career, where you have to take the news of your college and how much you have on the team, and how much you can tell how much you want to be an actual science major, and through the last couple of years, I have been able to determine that I would make that happen to a science major, and I hope those of us who are in the college, I would like to hear some about them, and I would like to go on the first day of the year, and I would like to send that off to their dormitories and students, I would like to get involved with them, and I would like to have a talk about my science major in the college.


This video is about rolling back to the previous build or deleting updates in Windows 10. Windows 10 installs updates in the background mode, and most often users learn about updates only after they were installed. There are ways to disable automatic updates in Windows 10. But if your computer has already got some updates installed and they are causing problems, you can delete or cancel such updates. This is the topic of today's video. The previous update for Windows 10 anniversary update, or Build 16.07, didn't make too many users happy. In some systems, settings were reset, apps stopped working, and sometimes computers could not boot. In today's video, expecting the issue of another Windows 10 build – Creators Update. Let's talk about rolling back to another build. This method will work with any build in Windows 10. We will see how to roll back system updates from a good working copy of Windows and what to do when the system won't boot. So if you want to return to the previous build of Windows 10, go to the Start menu, Settings, Update and Security, Recovery. Then press Get started next to Go back to an earlier build. The further rollback process looks similar to rolling back Windows 10 or 8 to Windows 7. You can see it in one of our videos and you can find the link in the description. After a brief preparation, the system will ask you why you want to go back. This information will be sent to Microsoft. Choose any of the suggested variants and click Next. The next window asks if you want to check updates. Click No thanks. The next window will inform you that some system settings you have changed after you upgraded to a new build of Windows 10 will not be saved if you go back to the older build. You will also see a recommendation to create a backup copy of your data in case any problems arise. Next. Here comes another window informing you that you should remember your account password. Next. At the final stage, when Microsoft thanks you for trying out a new build of Windows 10, click on Return to the previous version of Windows. The rollback process is automatic and it will take some time. After a brief preparation, your computer or laptop will restart and you will see a window telling you about restoring the previous build of Windows. You will only have to wait a few minutes and the other build of Windows will be back after another restart. With this method, all settings of a previous build can be restored within 10 days after the update, but they will be canceled automatically later. If you use any cleanup utilities, you may accidentally delete recovery data before you start the rollback, so it won't work. So be attentive. You can also roll the system back to the previous build from the Advanced Startup options. This method will come in handy if Windows won't boot after another update. In this case, the Advanced Startup settings menu will appear automatically if the system can't boot for three times in a row. You can also start it by booting from a recovery drive. Watch our video to see how to create a recovery drive and use it to boot your computer. Find the link in the description. But now, select troubleshooting, Advanced Settings, go back to an earlier build. The actual rollback process starts now. Select an account to continue, enter its password in the next window, and then click on Go Back to an earlier build to confirm your decision and start the rollback. Wait for the rollback to finish and when it is over, you will have the previous version of your system completely ready to use. If you have any questions, ask them in comments and we will answer you. If you liked this video, click the Like button below and subscribe to our channel to see more. That is all for now. Thanks for watching!


QuickBooks Online 2023, Bank Reconciliation Myth Busting. Prepare to start moving on up with QuickBooks Online 2023. Here we are in our GIC Great Guitars practice file. We started up in a prior presentation with a 30-day free trial. We also have open the free QuickBooks Online sample company. If you want the two open at the same time, we suggest using Incognito or another browser. You can open Incognito if using Google Chrome by selecting the three dots in the browser. Incognito window typing into the search engine. Support Accounting 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 then 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. QuickBooks Online Test Drive. We're going to use the sample company to compare the accounting view the one get great guitars is in and the business view the one the sample company is in. You can toggle between the two views by selecting the cog up top and switch the view down below. We're going to duplicate some tabs to put reports in like we do every time right click in the tab up top and we're going to duplicate the tab right click the tab up top duplicate the tab back to the tab to the middle. Go to the reports on the left we're going to open up one of the favorites that being in the standard reports the balance sheet report. And if you're in the business view by the way the reports are located in the business overview and then the reports on the left hand side. So then we're going to go to the tab to the right and back to the reports other favorite report is the income statement the P and L the profit and loss change or close the buggy so we can then change the range from 010123 to 022823. Let's do it on a side by side month by month system here and then run it so we have Jan we've got Feb we've got the total and then let's go to the tab in the middle close up the hand buggy and change the range 010123 to 022823 and then run that report as well. Let's do this one also as a side by side for this presentation months and run it so we've got the as of the end of January as of the end of February numbers. Now we want to talk about bank reconciliations focusing primarily on some items which I believe are misconceptions around bank reconciliations misconceptions which may stem from the way the software kind of helps us to do the bank reconciliation process as well as the use of bank feeds which can kind of complicate the way we think of how the bank reconciliation process works. So the first thing I want to point out is that the bank reconciliation process is a huge internal control in other words it's a huge check against us making data input errors. The first check that we have against making data input errors is the double entry accounting system itself. The fact that you're putting data into the QuickBooks system and the QuickBooks system is forcing assets to equal liabilities plus equity the fact that QuickBooks will not let you put something generally into the system which will throw it out of balance means that you have a huge internal control over somebody that's just doing their books by hand just writing it out for example or doing it in Excel without a double entry accounting system. So just using accounting software like QuickBooks which forces that to take place is a huge internal control even though many times when new users are using QuickBooks accounting system it becomes tedious because they're like why won't QuickBooks do what I want it to do oftentimes it's because QuickBooks is trying not to let you do something that will put it out of balance and so that's huge the second huge internal control is the bank reconciliation process so reconciling that the cash account is a huge internal control it's something that large companies should do it's something that small companies should do now the way you do it might differ depending on how you have the bank feeds set up and what type of industry you are in it could be an easier or more difficult process but every company should have some verification process of the cash and that's not only just because we're trying to verify cash itself we're not trying to just verify the balance of cash at any given time cash is important we want to make sure it's not it's very liquid no one's stealing it and stuff like that but we're trying to verify all the transactions in cash and given the fact that cash is involved in every accounting cycle that will give us verification on the on many other sides of the of the transactions as well so it gives us a double check on the entire double entry accounting system to a large degree so for example if I'm a if I'm an accountant and I'm doing taxes or I'm or I'm trying to verify whether some some set of books is accurate or not if someone just gives me a handwritten ledger I'm I'm quite dubious as to whether that and it's there's no double entry accounting system that just give me like an income statement or something like that I have very little faith that that's going to be a completely accurate statement because it's it's there's no double entry accounting system that's even helping it to stay in balance if they did it by hand and use the double entry accounting system which is very rare these days for someone to do I have a little bit more assurance if they put it into QuickBooks I have a way more assurance but I'm still going to be skeptical that they didn't input all the data or something like that if they put it into QuickBooks and do the bank reconciliation and they haven't fudged the bank reconciliation which we'll talk later in terms of like forcing an entry into the bank reconciliation then I have a much much higher degree of assurance even if it's a small business and not like a professional CPA firm it's way bit it's way bigger assurance then then then if you just did it by hand so that would be the general kind of idea or thought process of it now the two major kind of myths I think that are out there with regards to the bank reconciliation is one we get confused of doing the process of making a bank reconciliation and with the actual bank reconciliation report itself in other words to do a bank reconciliation we're going to go to the tab to the right and we're going to go then to the accounting tab over here and then we're going to go into the to the reconcile tab and we'll actually start our reconciliation I won't go into it at this point but that's that's the general idea if you were in the business view you would be going to in the sample company you're going to be going to the bookkeeping and then down here in the experts to the reconcile tab so and within there will start the reconciliation later but the general idea is that you're going to be comparing if I go back to my balance sheet what is in our accounts on the general ledger so if I go into our accounts in here all the transaction detail in here we're going to tie out basically to the bank statement we're comparing what we have on our side to what is on the bank statement and oftentimes we think about that process as like a bank reconciliation but the fact that we do that is very important and the fact that we may not actually look at the report that is generated from that still doesn't mean that we're not we're not getting the value of doing the reconciliation but what's actually the reconciliation is actually going to be a a report that we're going to have and it might look something like this we can summarize it but it's going to have the the the cleared balance total clear transactions and this is going to be the balance that will be on the bank statement and then it's going to have the unclear items the timing differences items if there are any which there may not be if in some situations we'll talk about that in a second to reconcile to the amount that's on the register the register balance so that's what we're looking for that that difference now you might think if you look at this and so in other words you might think of it this way you're going to say okay if I look at my if I look at my reports here for cash as of the end of February I've got a 95 944 06 if I go to like this is my mock bank statement or let's look at it in January in January I've got 88 810 25 if I go to my bank statement maybe I have as of the same date 61 241 85 in this case the bank statement that's given to us from the bank doesn't tie out to what's on our books does that mean that our books is necessarily incorrect not necessarily it depends on the situation right so now so what I want to do is reconcile between what's on the bank statement in the books what should be the difference we would expect the difference to just be the outstanding items the things that we put in our system that haven't cleared the bank outstanding checks and outstanding deposits the way we do that is we're going to check off all the detail in every transaction so that we can find find the diff find any differences and if the differences are legitimate they're things that we put in our system but the bank doesn't know about yet then we're just going to create those as the out as the reconciling items it's just a timing difference so you might say well am I doing that whole purpose why am I doing that then if I don't have to adjust my books after I do the bank reconciliation even if everything's right is it just to get the cash account correct no it's not just to get the cash account correct because remember every other transaction in here if I go into it has another side of the transaction an expense account the other side was furniture and fixture the deposit account the other side was you know income or something or you know it's the check account the other side was an expense account so by verifying not just the ending balance but by verifying every transaction that went through cash because cash is the lifeblood of the company because we're using a double entry accounting system we're verifying the other side of the transaction as well and we can see that basically on a flow chart here so obviously on the vendor cycle what happens whether we're on a cruel basis or a cash basis at the end of the day we expect money to be going out in order to purchase goods and services if I can verify the transactions of that money going out it may not verify every transaction in the cycle because some transactions such as accrual transactions might not have cash involved in them but it'll give us a pretty good very you know a pretty good internal control if I can double check those by a third party by the bank and then on the customer cycle at the end of the cycle whether we're on an accrual basis or cash basis we expect cash generally to come in for goods and services that we provided to the customer so if I can verify all the deposits and double check them to the bank then we should be in pretty good shape and obviously on the employee cycle we expect money to go out now the other thing that people get confused about I think is the bank feeds and we'll talk more about bank feeds in a future section or a course but let's just think about when the bank feeds might be useful and how you might set up a system it's usually the revenue cycle that gets a little bit confusing with the bank feeds so let's talk about it first there's a couple different ways we might set up our revenue cycle and it'll be dependent on the industry as we've seen in the past we might for example have gig work the easiest thing would be that we have like we're just getting paid by YouTube or something we wait till it comes through the system we add it to our books using the bank feeds we get the information actually from the bank in that way and we might use a deposit form in that case we're actually constructing our books from the bank so there's not going to be any timing differences that way because I didn't enter the revenue on my side I just waited till it cleared the bank and then recorded it it's still important to do a bank reconciliation but the bank reconciliation will be super easy and you can verify your cash account in real time because it should tie out to what's on the bank statement or you're running bank balance because you're creating your books from the bank statement but that's not usually what people do you can only do that if you're in a certain industry where that's something you can do like if you're at a cash register for example and you're collecting cash from clients you can't just put the cash directly into the into the bank you're using now a sales form so once you use the sales form at the cash register you're going to want to check your cash to what you actually have in the cash register you're going to compile all your cash together and usually you're going to have to put it into that clear it account undeposited funds or funds to deposit and then deposit it into the bank as one lump sum so in that case you can't for internal control purposes you can't just wait until you get all the money that you collected in the day and then deposit into the bank and then wait till the bank clears your cash to record it as a deposit in your system because you want to record the sales as you make the sales and have the records of recording the sales possibly the customer names if you're collecting that but at least the individual sales that were made you want to double check what's in your register to what's on the sales receipt for the day and so therefore you can't really do that you're going to enter them into your system first and then you're going to deposit it usually into the bank yourself right and then you're going to use the bank feeds if the bank feeds are on to double check to verify so now you have you've entered it on your side the bank is going to enter it on their side and you could use the bank feed to double check it'll be the matching thing but the bank feeds not going to record a new transaction generally in that case and the bank feeds are helping you to reconcile now so you're not actually constructing your books from the bank you're using the bank as a double check that's what a reconciliation in a full service accounting system is designed to do the bank should be doing your books on their side you're doing your books on your side you're double checking the two the fact that you have two people doing the books and they reconcile they're the same except for timing differences outstanding checks and deposits means that you have a double check an outside check that everything's going right if you if you have a full service accounting system where you have to build a client then you've got an a cruel component you've got accounts receivable no cash impacted by this transaction although you're recording the revenue then you're going to receive the payment now you've got the cash and then oftentimes you might then have to do the last step of depositing as we've been the practice problem and again in that case you're not going to wait till the deposit clears the bank in order to track when you're going to record revenue and usually when you're going to record the deposit on your side because you have you have to enter the invoice in order to track the accounts receivable so you see you can't just make you can't just make your books from the bank feed in that case because you're required due to the type of industry you're in to invoice first and then receive the payment and then you're going to use the bank feeds normally to double check the money that you've received now you could use bank feeds to kind of try to match to an invoice or or any part any node in the process here we'll talk more about that when we get into the bank feed section or course but that's the general idea it's really only that really simple business where you're getting paid by a platform that you can just build your books from the bank feeds now on the underside many businesses might be in a situation where they can basically construct their books from the bank feeds because it used to be that we wrote checks we wrote checks and checks take a long time to clear we write a check we send the check out we want to be able to verify if someone has an issue with the money that we paid them whether or not we've wrote the check number one and then number two did it clear has it cleared the bank so there's going to be a big timing difference between when we write the check and when the check clears because it has to be gotten by the other person and then deposited and then clear so if you're writing checks you certainly want to enter the checks into your system so that you can track the unclear checks you've got to do a bank reconciliation process to do that but a lot of businesses small businesses in particular are going to do a lot of electronic many all business are going to do a lot of electronic transfers doing electronic transfers you don't have this big timing difference so possibly in that case you're just going to you're just going to set up automatic wire transfers for your telephone your utilities and what not and all that kind of stuff and instead of you entering into them system as a check or expense form when you pay the bill you're just going to wait till it clears the bank and then record it with an expense or check type form as it clears the bank using the bank feeds so in a similar way as the deposit situation down here we would therefore be constructing our books from the bank we're not doing the double we're not double checking our books we're just building our books from the bank therefore we're not going to have any differences from the bank therefore we can still think of a bank reconciliation but it will be a quite easy bank reconciliation because our balance should match what's on the bank side of things because we're constructing our balance from the bank but if you're in it as larger companies usually then often will want to enter bills into the system so that they can track when they're going to pay the bill and try to pay it as late as possible now you're entering an accrual component into the system and therefore it's going to it's going to complicate you're going to have a full service accounting system where you're going to have to track the bill and then you're usually going to make the payment and then when you pay the bill and then you're going to use possibly the bank reconciliation to verify to match not to record anything but to double check the recording the bank reconciliation is therefore being part of or the bank the bank feeds being part of the bank reconciliation process so that's that's the that's going to be the general idea with those two those two kind of components that I think people get confused on now just in terms of when the bank reconciliation happens if you're working in real time typically you're going to enter the data for January you're going to get the actual bank statement sometime in February now a lot of people because we got online banking and everything they want to just just go online and just print out something from their online banking to do the bank reconciliation you don't usually want to do that because the bank statement is the a very solid line of this is where we stopped last time this is where we were at and this is where we're at as of the end of the month so they've very well delineated time frames so that we can see where we stand as of a point in time if you just print out the data as it flows through your statement you don't have that that defined delineation it's going to be difficult to reconcile so you want to actually the bank statements are useful for the bank reconciliation process you're going to get something like this this is just a mock bank reconciliation and and then so that we can so that we can compare it so obviously we're going to get the bank reconciliation for January in some time in February and then we can use that to compare to to the January data and reconcile the system and then in February we'll get the bank statement sometime in March now in some cases a lot of times businesses are not behind in terms of when they do the reconciliations and they might do multiple reconciliations at you know at a time so now I didn't do one for January I gotta do February and that's what we're going to do in our practice problem here we did this deliberately in the practice problem so that we can have a full section based on doing the bank reconciliation for the first bank reconciliation which is a little bit more difficult often time and then the second reconciliation is more representative of how the reconciliations would go then going forward and sometimes you might be in a situation where you're working for someone and you did a whole years worth of data possibly pulling it in from the bank feeds or something like that to try to construct their data to help them do their tax returns or something and in that case you might pull in you might do the data you have to pull in the data and then reconcile kind of as you go type type of system so that's going to be the process with the time frame and then just the general idea with the bank rex when we go into the actual data here we're going to compare what's on our system to what's on the bank statement and the general idea is that if there's a transaction on the bank statement that is not in our system the bank statement is usually going to be right unless you're claiming that the bank statement has something on it in error which often isn't the case but sometimes it could be some transaction might not be right you might try to that's when you would find it but if there's something on the bank statement that shouldn't be on our side then we're going to have to add it to our quick book system right and if there's something in our quick book system that's not on the bank statement are we wrong not necessarily because it could be an outstanding item outstanding check or deposit depending on how our system is set up and if it is a reconciling item if for example we had something in our system that's not on the bank statement and it was entered as of like January 30th or something we would say well maybe it just hasn't clear the bank yet and therefore because we're doing the bank reconciliation as of the January 31st date sometime in February because I didn't get the bank statement until February I could then go online and double check to see if that transaction cleared the bank in February if it did it would be a reconciling item it would be a timing difference it would be an outstanding check or deposit and that's and so that's what we're looking for we'd be okay with that we'd say that's fine and then I and then when I run my reconciliation report that will just be one of the differences to reconcile if we know exactly what the difference is then we're confident not only that the ending balance is correct but we're confident about all the transactions checking account if we're confidence about all the transactions we entered into our cash checking account in QuickBooks then we're also fairly confident that the other side of the double entry accounting system which includes the vendor cycle the customer cycle and the employee cycle is correct and that and that verification verifies once again not only just the cash account but gives an internal control a double check that we're not making errors on the entire accounting system okay so in future presentations we'll do this one at a time we'll do the first bank reconciliation for January which usually has its own little kind of issues and problems and then we'll do one for February