This is Startup Storefront. If you've been a long time listener to the podcast, you might recognize Brisha Lopez from Episode 7. At that point, she had just received the James Beard American Classics Award for the best Wajahkan food in the country. Since then, she grabbed ahold of a rocket ship and her career hasn't stopped ascending. Here's some of the highlights. Her drink mix, I Love Mechiladas, officially launched in Costco. She started Supermamas, a chart-topping podcast with her sister, Paulina, and now you can officially bring the taste of Wajahkan to your home with Brisha Lopez's new cookbook, Asada, the art of Mexican-style grilling. These delicious recipes were born out of love, heritage, and passion. It's one of the first ever grilling books dedicated to the art of Mexican grilling, and it perfectly captures the beauty of Asada culture in LA. In today's episode, we chat with Brisha Lopez about why she insisted her cookbook photos be shot outside of the studio, why we should normalize Latino kids growing up with privilege, and why people don't write cookbooks to make money. All right, welcome to the podcast. We are back with Brisha Lopez. Welcome back to the pod. Thank you. I know I'm back. You're back. You're so legit now. You're the second person, or maybe the first person to come back, but we've had your brother on, obviously, from I Love Mechiladas. And now you're back. What are you working on? What's going on? The book. I am before anything. I have to just plug my book. Plug the book. That is out everywhere where books are sold is my second cookbook, and I'm very proud and very excited about it. Tell us about the book. What was the inspiration for the second? So the first book is Oaxaca, right? So the first book was all about my family's story and about Oaxaca, the essence of, you know, really the heart of Mexican cooking, just the traditional recipes that I grew up eating. I moved to LA when I was 10 years old. So to me, Asada is just my life after 10. It's like all of that, all those foods, the Mexican, Latino weekend journey that we go through having an Asada at home, if I don't have your friends over, or if you don't have a home that has a backyard, going to the local park that you see still, that you still see it, you know, like today, you see those parks and then just the smoke of the grills and the smell walking through and all the families coming together and music in the background and kids running around and at the center of it is this beautiful Asada just spread. Those are the recipes. And I always say a lot of people when they make an Asada, they'll just go to a cremiserie, whether it be at Northgate or Vallarta, right? And they have their favorite one.  I've done it before.  This is basically all those recipes coming together that I think if anyone makes any of these recipes, 100% people are going to think like they're a store bought. The coolest thing, and this is something that we've been talking about a lot recently, but it's like the coolest thing about food is when you have it and it just transports you to this moment. I think it's actually why people fall in love with food, but I think it's also one of the hardest things for a chef to figure out again. It's like, what spices can you do? What's the thing that's going to bring you back to maybe being a 10-year-old in LA again? Yeah. It's like chicken that, and it's like a gift. You have it. Not many people do. It's like the craziest thing. It's a gift and a curse, Diego. Why? Why is it a curse? What's the curse portion? I think people that are in food, it's the hardest industry to be in. I mean, it's no music, acting, arts. It's part of the arts. You know, if you're in the arts, it's very difficult because you just put so much of you, creativity, time, hoping to get some sort of return. Anyone that writes a cookbook, my respect, my admiration, because it's not something that you do to make money, right?  And then it's something that you do to fulfill something inside of you. That's just, it has to be out. Like this book has been in me for years, which it was actually inspired of a restaurant that never happened between us two. Yes. Yes. And I had that place in my heart just burning. And I knew I didn't want to open a new restaurant, but that, like that was inside me. And it just manifested itself in the book. Let's talk about that. So we were going to open up this really cool thing. Yeah. And it felt like, but at the same time, it was like, it wasn't, it didn't feel perfect. It didn't feel like right. And then on top of that, I think we dodged a huge bullet with COVID. 100%.  That one, it was all, I followed my heart, right? And it was, I think one of the first times, and like a deal that I just followed my intuition that turned out to be right. And again, it's not a restaurant, but it's a wonderful, beautiful book that I'm very, very proud of. And there's timing for everything I've learned. So give us a sense of like, what goes into this book? So the first time you did it with Javier, the Glutzer, people who don't know. Edder and Chief of Relay Taco. What do people not know about what's behind like a cookbook? Like what is involved other than, first of all, it's beautiful. So if people that are in content, it's like a content masterpiece. Thank you. But what is involved from the side of it that like me? Is it recipe creation? Yeah. Sourcing and then how long does the whole thing actually take? So everyone's book deals are completely different. Everyone's way of working is completely different. Javi and I, you know, this is your second book together. So we're pretty well versed in our relationship. And it was my second time around doing a book. So I knew what it went into. Obviously, when you're in it, you're like, why did I do this again to myself? But then you love it. So here's the way it works. So, you know, in like in any book deal, you get an advance. The difference between writing just a book on business, like the one you have here from a couple of weeks ago, you're burned the boat. Great book. Right. I haven't read it yet, but I was into your interview. And I'm like, I feel like now I have to read it in the night. Like in overnight, like you did because there's a lot of pressure. Yeah, you're you're speed reading capabilities. For him, I don't know if he wrote it or he had a ghost writer, right? But that's all it really goes to. That's all he does. Yeah, he sits, he writes, it's done, maybe decides on the cover. Maybe he doesn't done a cookbook. You get your advance out of that advance. For me, a percentage goes to the agent, then my writer, partner, happy, and I'll explain that relationship in a bit. But then out of you, the duck that from the advance, and then you have to find a photographer that you love. I'm very blessed to know Quentin Bacon, who is the photographer. Who was the photographer of my first book, who I automatically knew and wanted to do my second book with and who I probably would work for future books if I do, if I do more, because he is a one man show who shows up and it's really all about natural lighting. So if you look at the book throughout the book, it's all real. I always when I first saw his work, the best way to describe him, I would say he he's like a legend in the game, in the food game, the cookbook game, very blessed to be able to work with him. But he is a very much natural light realness. He doesn't do, you know, he doesn't play with studio lights. He doesn't have those harsh kind of sure, sure, sure, you know, that you would find in a bon appetit or a food and went, which I love, which I love is just not who I am. I wanted to just be a moment in time captured in realness. So that's what he does.  My recipe tester was my food stylist. So that was kind of like a two in one situation. But you have to find budget for a prop stylist. And anyone who's who is looking to writing a cookbook or working in a cookbook, I highly there's a lot of cool props to yeah, I learned the team here. They have like the fake ice cubes and that's the food styling. No, for sure. But it's crazy, like the amount of things that go into these these like shoots, yeah, I think would, at least for me, like blow my mind. Yeah, well, that's food styling. I didn't have any fake guys. All I have is all I have in my book is realized because these were captured in real moments. They weren't like set that we had like three days of shooting recipes for the sake of doing it. But most of the book was shot like in real life. But the prop stylist, again, going back to if anyone's interested in doing a cookbook or working in a cookbook, 100% always have a prop stylist. I think I didn't have one for my first book and I wish I did. Going back, I mean, I'm very proud of the first one actually wouldn't change anything, but this one, I would definitely prop stylist over food stylist any day. But that's also because I have, I already also have experience in styling and I have experience in cooking and have someone there and I have a team of chefs that always helped me prep stuff. So because of that, I didn't think I needed a food stylist. My recipe tester, who was my styling assistant, ends up then becoming a food stylist and now he's a food stylist because he'd love to work in the process so much. That makes sense. Jesse Ramirez, shout out to him. He's great. All right. Let's jump into one of the recipes you have here. And so what are you showing us this beautiful photo from your backyard? Yes, I was just gracing through the pages. One of the first recipes that I made for a can of soda was a Michelada marinade. I'm going to take it to my, I'm going to tie in my brand. I like it. Please do. But it was six years ago. I had a can of soda at my house for further July. I always host my family. It's like the thing I love for the July. Thanks for the advice. So nice. You're welcome. We'll get there.  Let it marinate. Text me a little bit more often. Send me a few memes before, you know, coming to my house. Yeah. So I was trying to figure out, I was, I was actually doing content for my Michelada brand. And I was like, I'm sure this would be great to marinate. I love Micheladas right here. To marinate meat with. So then I made this recipe. I developed this recipe. And it was one of the most loved dishes of the day. That was like the first meat to finish that day. So. So you marinate the meat. Yes. With different spices. And then we add a lot of our Michelada mix. And how long you let that sit for? Just, just I might have to try this. For marinade, I think you need at the very least two hours. Okay. You can do it overnight. Okay. But I think two hours is more than enough.  It really is just putting a few items together, a few ingredients together, either in a blender or in a plastic bag, putting your meat and closing it, closing it, put it in the fridge. Yeah, it's actually pretty easy. It's just, you just have to do it. Do it ahead of time. I guess that's the hard part. The hard part is like, oh, I'm going to eat in two hours. No, because if you're kind of people over, right? Right. For Saturday, do the morning and then, you know, or you want to, hey, let's do kind of salad later today. Great. Let's just marinate it. And then take it out in two hours. It's not, you do it at 12, you eat at two, do it at 10, you eat at 12. Like it's fine. And I think one of the most important things is always grilling your meat room temp. So even if, even say, even do this, like marinate your meat cold and just let it marinate, let it sit in your house for two hours and then just put it directly in the grill. Like it's not going to do. What's the most time someone could do this? And so two hours minimum, is there overnight? Oh, you can do overnight. It would be great. I mean, as long as the meat is good, you can just leave it there for four days and it'll be incredible. I'm going to try this. So what else do you add? So besides your michelada mix, what do you add? So here, look, we have, I'm not reading from the book. Garlic, powder, cumin, sea salt, beer, tomato juice, orange juice, shallot, or an onion. That's it. Yeah. You've just launched with Costco. Yes. I love micheladas, all LA. Yeah. Congratulations. And Hawaii. And Hawaii. Yeah. Congrats on doing that. Thank you. How's it going? It's going well. It's going really well. I mean, it's getting warm here in LA now. So it really helps when the heat, when the sun comes out for us. But we're hoping that we, right now we're what Costco calls like a seasonal product. So Costco is constantly rotating products, right?   So we are more of a summer, late spring, all summer, late summer, early fall window where we are on shelves, you know, in the beer aisle, you can find us. Got it. And the Chamoy, that's a new thing you guys just started with.  I want to see you interact with it. Oh my God. If I don't like it, what am I going to do? You're going to love it. I'm not, I'm not really worried. This is a new product that we have. It's been in development, believe it or not, for like two years. We wanted it to find the perfect packaging for it that you're having a heart. Oh, there it is. It's beautiful, by the way. It's really cool. Yeah. All right. What do I do with it? I just put it on this cup. I just want to see how you interact with it. It's, I just do it like this. I got like a lollipop. Do how you just do you.  Dude, I don't know. I'm just, I'll just do it like this. Sure. Oh, that's good. I wasn't worried. Here's the thing about like the Lopez's siblings, anything we do is going to be legit. This is why it takes us so long to... That's really good. Yeah, I know. Like this is making me, do you put this on me? You can put this on me. You can put this on anything. You can put this on anything. You can put in your ring, you can put in your fruit. You can put it on anything. What's in this? This is delicious.  Chili, how would you describe it? Chamoy is a, it's a paste made out of citrus, spice, chiles that just, and it's very, and it's salty. So most Chamoy's that you find in stores, they are highly sweet. It's almost like a candied Chamoy. Oh, true. I've had, yeah, yeah. Okay, that I've seen. Yes, people put on their rims and it like heartens. It has so much sugar that when you put it on your rim, it heartens. And I don't get me wrong. I like it, it has a purpose. I just can't have a lot of it. The way our taste buds work is that the flavor that you're having right now, the reason why you love it so much, because it's really activating your glands.  So like that makes you want to have more and drink more and just keep going. If it will be too sweet, you could only just have, you will have just a little bit before it just got too much. This one, you can just keep going because of the salt. OK, one of the hardest things that we had to do for this podcast is something so simple, it's to get chairs. We had been using these plastic chairs and they just weren't cutting it. And not only were they ugly, but they were also massively uncomfortable. So when we had the founders of Sundays on the podcast, it only made sense for us to get new podcast chairs. So they shipped us a set of count on me dining chairs. So if you're interested in upgrading your chairs to whether that be in your house, office, podcast studio or anywhere in between, check out the link in the description to pick some up yourself. We can't recommend Sunday's chairs enough. And people listening, we're going to give one of these away. Yes, the book away and the El of Michaladas. Yes, yes, which is great. Stay tuned for that giveaway. This is the two new products that we have. We have a pre-rimmed cups and for those listening. Oh, these are pre-rimmed right here.  Yeah. How do you explain it to people? We did this before, but how do you? Right. It was with your brother, actually. Yes, my brother. My brother. So a lot of people think Michaladas are just a Bloody Mary. And I think that if you were out there, if you were bartender, if you were someone who is in the in the front lines of, you know, the food and beverage, food and beverage, please do not use a Bloody Mary mix to make a Michalada.  You were pulling people away from enjoying the true flavor in Michalada. Just don't do it. Just say you don't have it. Don't. Okay. Don't put a Bloody Mary mix. And for those who are interested in creating a new Michalada mix brand, please go and find a co-packer that can make an actual, legit Michalada. Do not. Please don't put a Bloody Mary mix in a bottle and call it a Michalada because that's, that's doing a disservice. Yes, all the time. Oh, wow. I just think that that does such a disservice to the Mexican culture and to just like, it just pushes people the way. There's so many people that are like, I don't like it. It's just too tomato me or I'm not about it. And that's not what a Michalada should be. A Michalada should amplify your beer. It should make it better. It should make you want to have more. It should never be a meal in a cup. You know? Yes. So that's, that's really, we make our own. We have our own, our production line. We have our warehouse. We have our own team. We make everything, we make it, we make everything in-house, package it and make sure that everyone just has like a legit Michalada experience. With Costco. So since you're a seasonal product today, will that change if it does well? Or how do they, or do they just put you in that category? You know, it just changes with time. Even if it does very well, we do very, very well in Costco. Thankfully, if you don't do well in Costco, Costco is just such an incredible company to work with partners. They're the best partners. They'll tell you, they'll know. Like at Costco, we'll know if a product is going to work within the first three days of being in the floor. Oh, wow. Like they'll know, like, your shirt's going to pop off or it might not be the best. And if it doesn't work, do they basically cancel the order? Do they, how do they, how do they work with your next capacity? No, it's just, it's just basically they'll like, it'll be a, actually I don't know. Okay. You don't have that problem. I, you know, thankfully right now it's going very well. People love it. Um, I think that it speaks a lot of the Mexican culture where we are right now, especially in LA, to have a Michelada mix at a place like that. That's not even just, you know, a Latino store, right? Like that's like if you, in LA, we have the North Gate and the Vallartas. Sure. Right. We, we have a brand there, but there's also, that's where you go for it, right? Yeah. Now to have it at a place where it's a, it's just a store. Just a store, yeah. Totally true. And then to have our, our culture represented, I think it's really, really important. So what's next? Now you have Costco, or you think about other stores, other retailers? Right now I'm only in the Los Angeles region. So what's next? I, I love Costco. So I'm trying to just grow within the Costco family. It's never ending work, you know? It never is. That's the problem. You just, it never ends. You just keep going. Everyone always says like, what's next? So where are you going? I'm like, if it was that easy, that I can just nap my fingers and be on every shelf in America, you don't think I would, you know? It just takes time, relationships, knocking people's doors, still fighting the fight of like, I don't know if people are going to, you know, really gravitate to a michelada still. You know, you're like, how, how are you still not putting like Mexican products like these on your shelves? You know, why are we still fighting on pricing? Why are we still fighting on whether it's going to move or not?  Why is it such a mystery? Yeah.  It's too risky on paper, allegedly, right? Yeah, but I think I also, these are people who are making decisions, you know, in a, you know, inside a building, right in a vacuum in, in like not understanding the culture, not understanding, you know, the power of the community, understanding the way things, just the way it's shifting. It's been shifting in America, right? I think bad money was like the first artist to bring the Latino culture for from people are like, oh, shit, like this is really where these Latinos coming from all of a sudden. I mean, I think we're going to do the same thing with like pesto pluma, just kind of taking over the airwaves and the slow. I'm very excited to see his progression in the next few months and what it's going to do in the country. I think I see it in California and I see it sort of in my circle, but I think he's going to take over. Do you ever personally think about, so obviously, like television has a huge way of changing the narrative and educating the masses. Do you ever think about really just moving more into media in a bigger way for you personally? Like TV, media, I love TV. I like doing, I mean, I have a pocket with my sister and we do very well. We have a great, incredible audience of moms throughout this country. We have such a super great network. Yeah, super mama's still, you know, top ranking in the charts. We love it. We love doing the podcast. TV is one of these things to that, you know, we just, it's, it's, it's interesting being just, you know, you're in LA.  And every, if I show you an inbox, it's like an inbox full of people saying like, we'd like to develop a show together. Let's do it. Let's do it. Let's do it. Let's do it. It's very LA worlds, but you'd be surprised that when it comes to decisions, they're still looking, when it comes to food, they're still looking for like, people are still in search for the Bourdain. And it's like, it works if it's a male, white male. I see. You know, and if you look at actual TV, food TV, I mean, I think aside from Padma, is there any other. That's interesting. Yeah. Woman who is in. I guess Kristen Kish just got a Nat Geo show. Okay. But that's it. I think, yeah, I think you're right. Yeah. It's mostly, it's still very much, you know, let's put a male voice first, because we know that, like you said, like the risk, right? So many, and not many people have been open to taking risks. There have been so many times we've been so close to closing a deal. I think three times in the past five years that it was right there. All done. All in paper is just a matter of a signature.  And also like the things I get offered aren't exciting. Sure. They're probably too safe.  I was like, okay, what is going to push me?  And to me, I just don't want to do things that aren't fun. Like if it's not fun, I'm not going to do it. I decided that in my life. Yeah. For me, I try to do things that it's all about the story. So if it's a good story, like if I look back on it or I can tell someone like you'll never guess how this happened. Like those are fun stories. And so I just chased the story now. No, I just want to have fun doing it. That's kind of what I'm doing. I'm kind of like, yeah, I just want to have fun. That's like my number one thing. And then, you know, family, it's a big part of like, that's like my second thing. The Lopez fam here in LA for staple. Yeah. My family is very important. Make sure that everything is, my family's involved. I get to spend time with them that at the end of the day, for me, it doesn't feel fulfilling if it's just me sitting at the top alone. I'd have to be with my family. That's all that matters. Yeah. It's not shared with your family. They're like, what's the point? Totally. I get that. That's a very Latino thing. I think too, though. Very family focused, family centered approach. Yeah, we're very, we're very tight. We're just a very tiny family. And now with the cousins, you know, with my kids, my sister's kids, that's right. Everyone's having kids. Everyone's having kids. Now it's beautiful just to see the cousins come together and for them to feel like they're siblings and for them to just have that partnership or just that same bond is beautiful to see. When you talk to, I'm just curious, I do this with my nephews, we're all taking like a building that we own. And I'm like, this is yours.  Like when we bought this building, it was a pawn shop. And so they went in there and they're like, this is mine. I'm like, yeah, like whatever you want. And they found like toys. They found like little kid toys in there. But it was like the cutest thing. And then my nephews like, how do you buy a building? I thought you could only buy home. And so it's just cool to see the discovery in them. But obviously for me, there's like an emotional part of it where I'm like, that's what that's what's up. You know, it doesn't really matter. It's just like, it's cool that you can share it with them. Well, it's also cool to witness the fact that your generation is growing up with privilege and like what that's going to do for them. Right? Like, yeah, that's a good point. Yeah. Like I didn't grow up with privilege. Yeah. Same. And my kids are. Yeah. And like, that's amazing for them to have the power of culture, the power of all that and the power of privilege, because there's a lot of power that comes from privilege that people really underestimate. I think the word privilege has that has a really negative connotation in today's woke society. Yes, that's true.  And it's like, well, normalize Latinos being privileged. Like, why is that bad? Right. Like, why is it bad that my kids are growing up in privilege? Why? Why do I have to like maintain them? Like, yeah, normalize Latinos make money. Like normalize Latinos making wealth. Like that is the only way we're going to get out of this. So for them to then be able to grow up with privilege with all those, with all that power of culture together, like I'm very excited to see what they're going to do. And that's like something that I'm tapping into right now, too, and being able to move in, like not only doing things that dub me as Latina, but like just doing things that are dope and being, putting myself in situations and rooms and then partnerships that are just great that don't have to have that, like Latina connotation to it. I like it. So when you come back on the podcast in two years, well, what will we be talking about? So for your third time. I don't know. Triple crown. What are we talking about on the third time? Third time. Uh, I'm thinking, I'm thinking a TV show. I mean, yes, a TV show. I bought a building together. Yeah, building. I, I, I loved, I think, I love idea of real estate of, of that. I think it's, I mean, you're in that game, right? Like that's your bread and butter. So doing that, definitely real estate massive. I think I really want to be able to experience the selling of a company. I don't know if that's going to be in two years though. I definitely see. Yeah. Okay. Yeah. Definitely like, probably some time TV show for sure. Probably something major. I do want to go through the process of selling a brand. That is one thing I want to do in my life. I don't know if it'll be in two years, maybe in five, but I, maybe in four. That is why we want to just focus on I love me. I want to know what it's like. I want to know what that's like. And I want to experience that in my life. I love that. Yeah. I love that.  Maybe we can talk about like how it went down, what happened now with, you know, Costco led to this, led to that. Yeah. We were talking about like what's the empire building now. Yeah. What I'm going to, where I'm doing with my money. Yeah. Right. Yeah. Am I, am I investing in real estate? Am I investing in people? Like, what am I going to be investing in? And I think that's pretty cool. Young versions of you and the Lopez family. I would love, yeah, that's, I think the end game of all of this is being able to just have more, more family. Latina businesses, just seeing what they can do with, with funding and what women can do. It's really amazing to see. I have so many girlfriends who have incredible businesses that they just, it just blows my mind how like the tenacity of Latina, that's a good network out for sure. Well, let's get, tell people where they can buy the book. Anywhere books are sold asada, the art of Mexican star grilling just anywhere, make sure to buy at a small bookstore and you can. What's a small bookstore? Barnes and Noble? What's anywhere? Anything. I mean, I always tell people buy a copy on Amazon, but also buy a copy in a Powell's or in a Barnes and Noble's in LA now serving indigo bookshop.org. Like there's so many different stores that you can buy online is really important to also that sales come from different avenues, not just Amazon for a publisher. That's a good tip. And we're going to give one away. So yes, give one away. Keep it here. For sure. But he said, thank you for coming on the podcast. We'll see you soon in two, three years when you sell this company. Yeah, for sure. If you made it this far, I bet you loved the episode. So you should join our YouTube channel membership for only two ninety and a month. This gets you access to one, the whole on a bridge conversation. Two, you get the episodes on Monday, one day earlier. Three, you get two additional entries to our giveaways. Check out our Instagram to see what we've given away. And four, you get access to seasons one through three. That's over a hundred episodes of wisdom and life changing advice. What are you waiting for? Join.


QuickBooks Online 2023, e-commerce inventory, Excel first in, first out, FIFO practice problem part number two. Get ready to earn the skills needed to boost your bank books on up with QuickBooks Online 2023. Here we are in our QuickBooks Online test company file using the account view as opposed to the business view you can toggle between the two views by going to the cog up top and switching the view on down below duplicating some tabs to put reports in by right click at the tab up top to duplicate it right click at the tab up top to duplicate it back to the tab to the middle we're going to the reports on the left hand side we want once again that balance sheet report as it's thinking tap into the right as we do every time reports on the left this time the profit and loss the income statement I'm going to close the hamburger change the range let's make this time the range is going to go from 040124 tabs to 053124 tab for that two month period let's also see it on a side by side with the month by month so I'm going to make it month breakout over here and then run it and then tab in it to the middle closing up the hamburger put the range to the same here at 0401 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 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<PHONE_NUMBER> let's do it a month by month side by side as well and run that report back to the tab to the left we've been looking at e-commerce situations selling inventory but not on ground in a store but rather online in the cloud with the help use support of third party applications for example being like a Shopify or and Amazon we've been looking at inventory flow assumptions breaking out the inventory from the sales side of things using a periodic system for the inventory method and we're using a first in first out with the help and support of our excel worksheet which we started out last time so if you didn't if you didn't see the last time presentation with this particular practice problem you probably want to look at this because we're on part number two at this point so we entered the first month of of data into our excel worksheet just as a recap we've been buying the inventory as we need it and then periodically at the end of the month we counted the inventory that we have left we determined then using our first in first out method what then ending inventory should be on i'm going to delete these items here on a first in first out periodic based system and then we went over here into our worksheet and we adjusted the ending inventory with a journal entry to match out and we recorded the other side to cost of goods sold quick books now reflecting properly hopefully our financial statements but the subsidiary reports in order to in order to sub to to back up those numbers are basically being done in excel now we're imagining we're just going to move on to the next month and we're going to do the same kind of thing i'm going to i'm going to imagine we have our inventory that's in our third party platform that we're selling on like a Shopify or amazon we're tracking the units of inventory as we purchase inventory we're going to say we're low on inventory in terms of units we're going to then purchase more inventory and we'll increase the number of units as we do so and then on a perpetual inventory system just for the units the the online platform will decrease the number of inventory as we make our sales and then of course our goal on the excel worksheet is to convert that from a unit basis to a flow assumption so we can get a dollar amount for the similar kind of process so we're going through we're saying okay we need to purchase more stuff in the following month of may now so i'm going to go back on over and say all right let's imagine that according to to our estimates we need more stuff to sell and so i'm going to say on five one now notice i put a table around this as i add each line item to the table it should extend the table as i add a line item so for example we're going to imagine that we're going to add uh six more items of item number one now note i can i might want to sort this you can also sort it over here it's sorted by date for example uh with these filters that's why those filters are quite nice so i'm going to say all right on five one and notice when i hit enter it extended the table i'm going to say that we purchased six more of product i gotta make sure i get the exact name so that my filtering works well product number one i've got product number one but i'm going to put them on there one at a time so and i'm going to say that the unit cost of them this time is going to be twenty seven dollars so the no it's going to be twenty three dollars so the cost was twenty dollars inflation happened or something it went up to twenty three so i'm going to copy this down one two three four five because i want to have six lines that have that same information in it i'm going to copy these down we uh here because those are our totals that need to be brought down as well and so if i look at those does that make sense we've got six items i put them on there one at a time one two three four five six of them you can see the physical count over here as well as the summing therefore the total dollar amount for those would be 138 now if you if you bought these in one lump sum and you had other expenses that were related to it for example you might say hey look i paid 138 for it and then you would just divide that by six right and that would be in essence your unit cost for uh those products let's also say that we bought uh on five three so so well that's that's going to happen on five one did we purchase anything else on five one no let's keep it at that so now we're going to go into our system and i'm just going to say this would come through the bank feed so the purchasing side is in essence on a cashed based system in that we should see the money going out of the checking account to tell us when to record the transaction as opposed to the decrease big to to inventory because we have to do that on a basically a a periodic basis using our accrual concept so i'm going to say this is going to be vendor one and we'll just say this happened on 0501 uh 24 we're making a purchase here it's just going to increase inventory like it does every time and i'm just going to put the new dollar amount which happens to be what did i say it was we're going to sum up these items it costs 138 dollars so one one three eight boom this is going to increase inventory the other side's going to go to the the uh checking account decrease it's going to decrease checking account increase inventory all right save it and let's run it so checking account goes down inventories are going up now so inventory if i look in maze inventory then we've got that increase on 5 1 very good nothing if i exit this out if i go into my my uh income statement no cost of goods sold yet for may because we're going to figure that out at the end of may even those sales have been taking place possibly already we're not going to we're not going to do the decrease of inventory and cost of goods sold until the end of the month all right and then let's say that time passes and over here on our platform we're still tracking on in essence a perpetual inventory system with regards to the units of inventory because when i purchased those inventory units i would have increased them to you know product number one and then sales would have happened over time but i'm not decreasing the inventory in my worksheet for sales however they would be decreased over here on a perpetual method because because this is tracking just the units on a perpetual method and i might say okay now i need to purchase more stuff and in the month of of may so i'm just going to say all right i need more stuff to to deal with logistically uh keeping up with demand over here so this is on 5 15 on 5 15 we're going to say that we purchased two more of these product ones product one we purchased two more of those and i'm going to put them on one at a time but now they cost $27 inflation killing us so they're going up in cost even though the same units i put them on there two times so that cost me $54 for those two i could copy these down these need to copy down and then i'm also going to buy on the same day 5 15 we're going to buy three units of product number of product number uh two so product two we're going to buy three units of those and they now cost one one one uh one hundred and eleven dollars of product for product number two they used to cost 105 so now they cost 111 i'm going to put them on the books individually so two more of those so they cost us uh $333 we can copy these down again and then we've got also on 5 15 we purchased three of product number three and we're going to say that they cost us 675 so once again inflation happened hold on these need to go on the books one at a time 111 and then one and then these cost 675 hopefully i didn't confuse you too bad there they used to cost 650 so again inflation hit us again and we're going to copy those and paste them here boom and we'll copy these down so now we've added these to the books sales have been happening but we're not recording the sales yet for may we're just going to record the sales at one time just like we did over here at at the end of at the end of this whole process so let's say okay then what does that add up to i'm going to say all this stuff happened uh i could say from here to here so it cost us uh two four one two two four one two and and again if if you were buying product by product product one two and three and so on like if i was buying these three products and it if the total came out to 2025 total cost including everything sales tax and whatnot that's included i could take that number divided by three and that would be basically my unit price that i would be putting into my worksheet per unit you can get a little bit more complex of course if you're if you're buying multiple different products at one time to try to figure out what the unit cost is for each product when you get into sales tax and whatnot but you can come up with a with a ratio method to kind of allocate you know sales tax and whatnot properly uh to the products even though you're paying possibly you know a lump sum amount we want to break it out by product so that we can put it on our sheet over here okay so now we but in our excel sheet we're just going to pay let's say one vendor again for the 2004 12 so i'm going to say all right let's go back on over here it's going to come out of my checking account so i will see it hitting the checking account expenses and we'll just say this is going to be vendor one again and this happened on 5 15 and we'll say that this was inventory is going going up by the number i can't remember i just said it 2004 12 2004 12 2004 12 and this will decrease the checking account increase inventory once again so let's save it and close it time has passed and now we've got the inventory we boosted it back up here in may for the two purchases that happened in may we don't have any sales yet in may meaning we did actually have sales we haven't recorded them in quickbooks because we're going to record and notice we would have recorded the sales half of the sales but we're not recording the decrease of the inventory part of the sales of inventory that we had because that we're doing on a periodic system if i then go on over to my profit and loss nothing's over here for may in the profit and loss notice that the income line would have income because the income is tying in to the to the format that we pulled in the income from which might be quickbooks integration or using a manual journal entry method or whatever method we use that we talked about in prior presentations we're focusing now on the cost of goods sold and notice i put this one into cost of labor i think it should have gone let's actually fix that i'm going to go into that it's not labor what are you talking about i think i have a cost of goods sold account let's put it into cost of goods sold straight up cost of goods save it all right that's probably what's bothering people i don't want to bother people unnecessarily all right so there's that and then we're going to imagine the end of the month rolls around again and if i go on over to my my Shopify then i can see the units that are basically being tracked on like a perpetual system even though i'm only updating my worksheet on a periodic system monthly in other words over here i've been i had my beginning balances from last month i added the purchases when i purchased them so that it's reflected in my Shopify so i can cover my sales and it's being decreased in terms of units when the sales actually happen by Shopify or whatever online platform you're dealing with and you can tie that out to the physical count as well and make sure that this number you know ties out to the physical inventory and then we're going to take out whatever the physical inventory is which should be reflected here in this number on your online platform and say i'm going to assume the difference between that inventory and what i currently have in my worksheet our sales right so i'm going to go back on over here and say let's break this out one by one again product by product so then i can say i can adjust my products because i have them all in this nice worksheet this is what the nice thing is about the worksheet i could say let's sort my products by just product number one and then say that that as of the end of the time frame we have units left to product number one four units left of product number one so i'm going to say okay that means that i sold and maybe it would be easier to do in the table over here if i said i had four products left right i have eight in my little table minus the four so i sold uh four products would be the general ideas i'm going to go back on over here and say okay uh we sold four now notice if you had more information than the end of april you can also filter by date i mean at the end of may so if you had more information in june and you're trying to figure out where you stand at the end of may you can use your filtering options here to see your table for this this time frame but now we're going to say okay so we sold four of these items on five let's say five thirty one so five thirty one and i have to format my date fields here so let's go ahead and just copy the formatting here and i'll put that all the way down to my table and i'll say this is on five thirty one we sold four of these they're all going to be on there one at a time the cost is going to equal the cost of this line item so it'll it'll tie out and map out so the the number of units left of course is zero that's this minus this and the ending inventory is this minus this there's nothing left because we sold this ending inventory these two need to reflect nothing and we're going to say that we sold let's do that four a couple more times i'm going to copy this one two three more times so there's the four that we sold putting them on there one at a time and it's picking up then the reflected amounts which are all the same here because they all cost $23 it wasn't until we got down here that we had higher costs per unit notice i'm filtering by product and i'm also sorting it by date in order to to pick up the right line items on a first in first out inventory method okay so now let's imagine that product product number two we had five we still have five on hand so we didn't sell any a product number two and then product number three let's imagine that we have two on hand on the physical count that means we sold five of them so we sold five of those items so i'm just going to go back on over here and say let's sort this by product number three i'll filter it in other words or more properly product number three and we sold i said what did i say we sold now i now i deleted it but we sold five of them all right so we're going to say on five thirty one we sold five and i have to do the date thing again let's select this whole column and format this thing so that i have the date like that okay so this is five thirty one and we sold five of them and the units out are going to be one each time and the cost is the six fifty i'm going to copy that down four more times one two three four so that we have five of them one two three four five counting at the five and so this is the cost of those particular items and notice that there's a difference in the cost for right here that's the problem because now we sold five of them and some of them cost six hundred and fifty some of them cost six seventy five and so we're saying that we sold the ones that cost six fifty first and then we're eating into the six seventy five ones noting that in an inflationary time frame we're left with the ones that are more expensive the higher priced ones so so meaning our our balance sheet is going to be reflecting the the items that are cost more even though they're the same units in a first and first out inflation if there's an inflation or increase in time in price time frame all right so that's going to be that so now i'm going to let's unfilter this again i'm going to say let's take the filters off boom and so now i'm going to delete this stuff we're going to say this should tie out to what we have in our indian units like i've got four units of product one five product two and product three has three and this is according to our our formulas that we put up last time we could also do it like a pivot table so we have that we might do a pivot table in a second just for the fun of it but we've got that and then uh and then now we've got the total this is what our indian inventory should be so our indian inventory over here in quickbooks is currently at five three six zero it's going to be higher because we've been purchasing stuff but not recording the sales five three six zero so we're gonna have to bring it down this minus this adjustment it's going to be three thousand three sixty four to get indian inventory to that so i'm going to say all right let's just do a journal entry periodic a journal entry new button and we're going to do a journal entry and we'll do it as of the end of may this time and we'll say that it's going to be a debit to cost of good sold see if i can pick the right one and we'll say that was for the amount of three three six seven so three three six seven and the other side's going to go to inventory for three three six seven let's go ahead and save it and close it and the balance sheet running it so now we've got our indian inventory over here at the one nine nine three and does that title one nine nine three so that's what we wanted it to be and then the cost of good sold is going to be over here cost of good sold run it so now we've got our cost of good sold for may of the three three six seven which is of course the calculation that we made for this item you can also basically see that in our table over here if i was to filter on on this date field for the sales dates and i just want to see the items i'm going to that were in may so i've got the may items and i'm going to say okay and i've i've unfiltered everything else and i can go in here and say okay this is the cost column if i select the whole thing that comes out to the three three six seven so that's another way you can kind of double check and sort your data so now over here notice the sales would be happening using the method we looked at before possibly with like the the intuit integration with a Shopify or amazon or or ebay or whatever and then these cost of good solds will hopefully match up more properly to the proper time periods which will give us better you know matching information so that we can make decisions on what we're going to purchase in the future and what our costing our costing should be and again we could try to map this out by product for example which gets a little bit more detail so we can think about our profit margins you know on a per product type of basis and whatnot so we can go through our inventory decision making but the bottom line is that now we've got these hopefully timed out properly we're doing it on a periodic mace method adjusting at the end of the period we have our inventory item number over here which should be correct from a financial standpoint but doesn't have the backup or support within quickbooks of the unit amounts and and the flow assumption because that is being done on a periodic method in our worksheet on this side now before we wrap this one up let's just note that you could make like a pivot table out of this data over here as well which sometimes could be a useful way to see it so let's get rid of the filters right here and say let's remove the filters and everything is selected and i'm just going to add a pivot table so we can kind of see that format as well so we're basically going to rebuild this table but do it with a pivot table which is kind of easier to do in some ways but i kind of like the hard formulas as well but you know different people have different options and so i'm going to select any cell in here just one cell though i've got one cell i'm going to insert i'm going to go to the insert tab up top and i'm going to go to the pivot table it's already in a normal table over here but i'm going to create a pivot table and then it creates the range and it's basically selecting the table i'm going to put it into the existing worksheet and i'm going to delete this bit right there and i'm going to put it right here in s1 and say okay and it gives us our pivot table thing and i'm basically going to reverse this so it has the products on the left and the unit and the ending balance up top so i'm going to say all right let's pick up then the product so i'm looking for the product field and it pulls that into the rows so that looks good i'm going to pull that into the rows very nice and then i want to pick up the unit balance and the ending balance so unit balance it put it where i wanted to go which is on this side and it's using the sum so there's the four the five and the three the four the five and the three and then the ending balance and so there we have the ending balance of the 100 the 543 and the 1350 now if you make adjustments if you have a pivot table for example if i close this out it should it's a nice easy thing to build once it's built up it's nice it's nice and but then if you make adjustments over here your pivot table you have to right click on it and possibly refresh the pivot table so that so that you can refresh the numbers and if anything gets wonky on the pivot table then you can basically recreate the pivot table once you've done it a few times it's not too difficult and you could format it and whatnot but i'm gonna bring this in a bit maybe i'll do the headers and wrap it over here and center it so i won't get into much more detail on formatting the the pivot table but that could be a little bit faster once you get used to them than creating a table like this and then you could refresh the pivot table as needed as you're updating your data to the left and again if the pivot table something goes wrong with it you can always just you know recreate the pivot table from your data set over here once you get the hang of creating a pivot table


Yn arweinydd hwnnw. Fy oedd y ddechrau. Mae'r ffordd yn ddalamol yma yn ymgyrch yn gyflawni Jayce. Fy oedd yw'r cyflwyll yma'r ddalaes iddyn nhw'n gyflawni'n gyflawni, yn gyfer y gyflwyll yn gyflawni. ICHEC wedyn yn gael ydyn nhw'n gweithio'r ddalaes a Jayce erbyn i'r cyflwyll yn gweithio'r ddalaes. Mae'n gweithio'r cyflwyll ar gyfer y gyflwyll, yw'r rhaid iddo'n gweld eich ffobl o'r wider ac oedd yn y dweud o'r bobl yng Nghymru, ac mae'n hynny wedi'i gwelio gwahanol o unrhyw unig o'r Unedd, yn ffawr, yn chefiwyr, yn ysgledig, yn unig o'r unedd. Ydyn nhw'n byw'n cael ei wneud i'r ddisgwst, os yw'n cael ei rhai, mae'r cychwynod o bobl yw cyfnodol, cychwynodol a'r cyfnodol. Rydw i'n edrych, mae'n ddysgol y oedd ychydig o'r law fforddau Mor's sefydlu gwylliant o'r bwysigol yn cyfnodydd cyfnodol, o'r bwysigol, mae'r bwysigol yn cyfnodydd. Ond mae'r bwysigol yn cyfnodydd. Rydw i'n edrych ar y cyfnodol yn ymwneud o'r ysgolionwyr ar gyfer o'r ysgolionwyr. Felly, mae'n ddweud i'r ffawr o'r cyfnodau ar gyfer y mylion, yn ymddangos, byw, erio, nautic, yn cynedd, ond yn fawr, mae'n fawr i'n ddweud, fawr i'n ddweud y cwestiynau. Mae'n ddweud. Ddwy'n ddweud i'r ffawr i'r gweithio. Ddwy'n ddweud i'r ffawr i'r gweithio.  A gyd, mae'n gwneud o'r ffynol yn dweud o'r cyflwyffyr wedi'n nesaf o gydag a'u rydyn ni'n meddwl.  Rhywbeth mwy o'r ymddorol, yma'r chynyddiadau cyd-dwynger iawn, oedden nhw, yn cyflawn llwyngol ac yn ymddorol. Mae gyflawn i'r cyd-dwynger i'r cyd-dwynger o'r cyd-dwynger. Mae gennymau yn y ddechrau sy'n gweithio cymhwysig gyfmau Cymysgar yn gyfnodol, a byddai'r desgwyr, cyfan, ystafell, ac ymnodol. Y gwirionedd y cadw rhan, fy oedd 59% i 65%, ac nid os sy'n ni'n ei byw, rhaid i'r perlwysio gwirionedd y môl. Cymysgu'n rhaid i'r perlwysio cyllid yw 95% i 75% i Tsigwyr Elidwyd. Mae'r gwrthon o'r gwrthon yn ystod ardweud yn ddweud o'r llwgr yng Nghymru, yn olygu'r cyfnod o'r cyfnod. Mae'n ddechrau y bryd i'w ddod yn ddiddordeb yn ddiddordeb sylwf yn ddiddordeb sylw'r cyfnod, ond mae'n ddiddordeb yn 2005. Mae'n ddiddordeb sylwf yn ddiddordeb sylwf yn 1965, yn ddiddordeb sylwf yn ddiddordeb sylwf yn 2005, ond mae'r gafodon yn ddiddordeb sylwf yn ddiddordeb sylwf yn 2015. Ac rwy'n dechrau byddai y progres, Ac mae'n mynd i'n gwybod ddau'r cyfwyr yng Nghymru o'r cyfwyr yn ddiweddol, o'r cyfwyr gwyrdd cyfwyr. Rwy'n gwybod i'n gwybod, mae'n rhoi ddiwylliant yn ddau'r cyfwyr. Mae'n meddwl gydig o gydweithio'r cyfwyr o'r cyfwyr yn y cyfwyr, oherwydd, dyma'r cyfwyr yn ddiweddol. A'r cyfwyr yn ddiweddol, mae'n ddiweddol o'r cyfwyr yng nghymru I ddaf glau'r rydw i'w gweithio y llwyddoedd yn ddianfodol. Mertho gwrthio'r etymlu oherwydd mae oherwydd fynd i ddweud o gyfarion a fyddai. If mae'r ddweud o g挖fynn Fleiaf, roedd o gyfarion, yn 1978, iawn yn gweithio yn fynd ar Fflaid Llywodraeth ar New York yn y ddweud o gweithre'r llwyddoedd ac mae'r gallu mwynhau yn ddweud o'r ddweud o'r ddweud o gyfarion ar gweithre'r Llywodraeth. Ond oedd gofynnodd yn phoedd yn gallu meddwl i'r werthion, Gwsdalol ffordd o'r byw y gwisw'r wrth i gydhanol ar gyfer y dyliarol a i'r dyliarol, ynween amlŷ i ddod o'r cyfrifwys ac mae'n rhan o'r prosesoedd yn ei fitd. Ond o'r gwybodaeth a'r gwybodaeth yn y cyfreonol sydd ynnu'n olygu dda, ond unrhyw o'r argyfnod o'i ddweud â'r G. Yn y roedd y gynhyrch yn y myfwile i'r wneud digwyddag yn ôl? Yr argyfnod o'r gwybodaeth yn ôl? Y ddiwedd, mae'n meddwl i'r Morzlof yn ôl, mae'n ffrifadau, mae'n meddwl i'r Morzlof yn ddiwedd, mae'n meddwl i'r Morzlof yn ystafell ffordd, a'r ddiwedd yn meddwl i'r ddechrau, a dylai'r ddysgu am rhan oed yn y ddechrau. Y ddau mewn 60 yma, mae'n meddwl i'r byddwch ar y ger, i'n meddwl i'r byddwch yn y 70, mae'n meddwl i'r byddwch yn bwysig, mae'n meddwl i'r byddwch ar y byddwch ar y byddwch. this is what we call the top 500, in the early 90's a group of computer scientists, American computers scientists said, we want to have a registry of all the most powerful supercomputers in the world, because all domains, academia, industry, government, whatever you use it for. And we want to have a standardized benchmark, to see who is the billion one, that's a big concern for American Cuando. Felly, fy cheif wnaeth y posiedd argyferwad, sy'n fan mewn diemddugol, o'r number 1 cynsianwyr yw'r newydd o'r number 500. Mae'r number 500 Cadwyr yw'r number 500. Mae'r number 500 Cadwyr yw'r number 500 Cadwyr. Rydyn ni'n ddelig iawn o'r number 500. Felly mae'r number 500 Cadwyr yw'r number 500 Cadwyr. Ac yn iawn, mae'n amser, a dyna'r iawn yn yn gweithio yn iechyd a cael mawr fawr mewn. Mae'n adegwyd yn wedi'u'n mae'n cychwyn 15 oes gennymau ar yr iawn. Mae yna dwi'n dechrau i eich hollwyddiad cydwch. Os ydych chi'n amser, yna myllai Walton hereau. Walton isrwyd yn y Fathlwn Gwerthgawr, cws iawn i Llyfrgellol. Merthyn yma, y fathlwn gwirionedd thef i diodel at 400 yma, i gof ychydig i fyno eu gydweithio mewn Fathlwn Gwerthgawr, a mae'r pwysig o'r cymdeithas o'r gweithio cymryd yn cyfrannu. Yn y bwysig hwyl, y 7 ychydig, y cyfrannu yn ôl y 1. Y rhan o'r cwm yw'r pwysig yn ôl i'r uchydig o ffrindwyr o'r cofio'r cyllid ar gyfer hynny, felly mae'r pwysig yn olygu y 15,000 bwysig o'r cwm. Ychydig, o ble mae'r pwysig? Yn olygu, mae'n olygu o'r cwm yw 1,1 miliwn, is what I'm doing with technology in line with the accessibility that technology provides me. What's very important is one of the reasons why you are outperforming North Europe is that investments don't remain constant. There is growing global recognition of the economic and societal impact of high-performance computing across most governments in the world. Currently, in fact, there is a global race taking place between Asia, the USA and Europe. The mission of Europe currently is to become the number three. But China in particular and the US are firmly anchored in the doctor position so it might change with the current administration. There is a very interesting policy paper called HPC Europe's Place of Global Race that outlines the importance of high-performance computing for innovation and competitiveness in Europe. Now we were extremely fortunate for our 10th anniversary to have a visit from Dr. General Roberto Fiora who gave an address after the IAEA as it happens. We had to share Roberto between our two organizations and he provided a key note for half an hour to emphasise the importance of HPC, for example, to understand the function of the human brain, to model the human brain functions, in order to try to better understand the disease of ageing, for example, the kind of Alzheimer's disease and so on. I think you are similarly supportive and I read recently that the Vice President, Mr Hansi was also delivering a very important talk last week on the importance of high-performance computing. So if you wonder what the number one in the world looks like, this is what it looks like, it's in China, a couple of statistics which are interesting. First it's 10 million processing elements so if you want to use the world power of the world machine you need to understand how to make this 10 million so different little computers work together to solve the problem and this is part of the difficulty. But the second number which is very important is 15 megawatt, absolutely a lot of electricity, not only in terms of cost but in terms of infrastructure to actually support the world side. This is the last time we are going to see this problem. So something struck me with Moore's Law. Moore's Law in many respects I think under-represented the level of innovation that went into designing those chips. So if you're in your curve and you think, oh yeah, sure, just more of the same. They kept on doing the same thing, kept on going up. It's not at all the case. I mean our friends in the electrical engineering world and I should be careful, maybe they are electrical engineers today in the audience, but kept on seeing in the near term a few years ahead the limitation of the current process and they know that in order to keep on pressing ahead they will need to come with some form of innovation to overcome this barrier. So we went on an electrical engineer and those are the Intel guys kept on coming up with new processes to push the boundaries from micrometers to 100 nanometers to 10 nanometers and I believe next will be 7 nanometers which makes me wonder why it's going to stop. But the same is true for either one's computing. So it was linear. We went through a number of paradigm changes or a number of different approaches on how to solve a problem. One single is new machines, keep on going faster, it's magic. Vector machines, more for engineering, for weather forecasting, so all the big automotive industry and weather forecasting engines is one of those extravising machines. MPP stands for massively parallel. So we've got a lot of very small processing elements that we're using in the machine. Then we moved in 2005 the concept of mutico so most of you might have heard that even your phone or your laptop is dual core or quad core or eight core. Now we're pretty much at 20 cores plus. And now we are in the minicore era which is again thanks to NVIDIA, Intel and those are manufacturers. We have now little processors or cars you stick in your computer that have literally thousands of processing elements in your hand. So the latest Intel minicore proposition is called Intel Night Snonding offers you four times the power of the iPhone. So I like to compare it with the iPhone because it's interesting to put in perspective everybody has a mobile phone. Everybody can understand how much power actually this kind of device is offering. So don't be fooled by the linear curve where things are a lot more complex than they are. We have to face increased complexity in the architecture. I also wanted to put it into the cloud because people try to say the HPC guy hates the cloud guys and the cloud guys hate the HPC guys and it's not true. I really don't want to make a happy world. So it's also a sense of misunderstanding of these two technologies. The cloud is just for me a delivery mechanism and I have somebody from Google here so I need to be careful. But yes, it is a delivery mechanism and it is true to say that quite the contrary, the cloud is going to democratise the use of high performance computing by making it more readily available through public cloud services. So you look at Microsoft as you as one of the good examples of a cloud with good HPC resources available. But one thing is true though is that debugging fixing your code when it fails called debugging or optimizing your code making it go faster will be more difficult within the public cloud than it would be if you got a machine in your own data centre. So it was a call for anybody from the department of jobs if you have some different department of jobs or education or co-founders that don't be fooled HPC centres are going to be very quiet even more so in a cloud world. I'd like to say thank you to our friends from Accenture Labs. So one of the get meetings within the 10th anniversary we had the honours of getting something called Mark Calbillard who is a global managing director for innovation and he met his team and he totally inspired about quantum computing. What's next? What's after conventional computing? And they actually authorised me to use some of the materials I'm going to publish very shortly for current report on quantum computing. But I think you can put it in a really interesting context. We had a bit to walk down those blinker 1970s to whatever 1980s to 1115. We need to go back to the early days first computers to the next generation. What's coming next after conventional computing and this is quantum computing. Now what is quantum computer? Well first of all I think it's a piece of you appreciate the quality of the engineering. It's truly fascinating. This is the actual infrastructure that grows around the chip and this is part of the cryogenics part of the world cooling infrastructure. It's truly fascinating. This one comes from D-Wave I think we had one of the co-founders and chief scientific officer actually came to the visitors last year or two years ago as part of the bell days in November. It was a very interesting very interesting presentation. So a few points very quickly. Yes it is a genuinely destructive technology. This terminology in my view is used far too often incorrectly. Second point. It's not a panacea. Quantum computing will not replace mainstream computers. It's not to be used for general purpose. But it's particularly well suited to address any number of classes of problem optimization something at machine learning of the very broad range of the workforce. So it will coexist with conventional systems and again what I put here in double quotes are rotations from the actual report I mentioned earlier. As such it is unlikely classical computing will be replaced by mainstream by quantum computing. And our friends also forecast that consistent enterprise use is only 2 to 5 years away from one class of quantum computers called adiabatic. It is a category of systems the way are manufactured. 2 to 5 years from now, sorry. So I don't know about you but when autonomous vehicles started coming on the road I didn't realize I was already on the road in testament. When I'm being told quantum computers are already in use I thought it was just some kind of 10 years on the line I didn't realize initially that this technology was actually so close for being used for operational use. Absolutely, absolutely fascinating. And that demonstrated need to be extremely agile that in terms of police making when opportunities like this come you don't have the luxury to spend 2 years thinking about it because if you do, that cheapest side and all the countries will have made progress and you'll be being catch up. So if you don't want to be one of the innovation followers if you want to become part of the innovation I'm not sure whether it's actually setters or part of the innovator class you need to act quickly on this type of opportunity. And the final observation of how fascinating as well is when they say the number of qubits so the qubit is a small element in quantum computing if you look at a classical computer you've got a bit which is 0 or 1 so yes or no. In quantum computing it's called a qubit it can have several different properties that can influence each other anyway but it's notice that it's growing at similar pace as morthlaw and now the way that it sells starts taking order for 2,000 qubits computer. Morthlaw might seems to be relevant with classical computing but he may very well continue to be relevant within the quantum computing domain. So here I picked up a number of technologies I found particularly interesting and postulating that similarly the future has already started and again that sounds exhaustive some of you might disagree but I pointed out that deep learning of autonomous vehicles, blended reality you can break the slide. Now I like that quote about autonomous vehicles from Elon Musk a well-known entrepreneur and he described autonomous vehicles autonomous cars as a supercomputer with four wheels. It is not the exact quote but something of that nature that emphasised how important HPC was to this kind of technology and I think again it is something we miss far too often. When I mentioned high-performance computing how do you see people just switch off? I said I have a super computing thing no it's not. Transcomputing supercomputers are just the deep of the iceberg. HPC is a methodological approach to problem solving which is about exploiting the computing power of various components that will come back in a minute. I said what all of this technology 9 technologies have in common they need one or more of the following either to be extremely scaleable being able to address very high throughput terrible to have very low latency so if you are an autonomous vehicle you want the decision to be taken in a very timely manner it's part of your important. One which is very often overlooked is we need to deal with big data but what big means large and not something else but far too often I hear big data is not about large volumes of data I don't believe you can say that it's about big volumes of data and it is also about energy efficiency if you think about wearable devices whether it's a mobile device whether it's wearable devices whether it's a Google glasses whether it's wearable computer business say we need to be energy efficient if you look at all those sensors in an industry context say we need to be energy efficient why? because you want them to last as long as possible with a charge or maybe you want them to use environment or solar energy or whatever to last if they are in a hostile environment but what's interesting is that all these capabilities how do you achieve that is what we call programming for performance right? and ultimately these are the high performance computing techniques I've got here a few of my colleagues Michael Lyser who is hitting about novel technologies area and he's a man who does all the interesting work I'm just doing the talking which is far more interesting but we've got very exciting collaborations going on with the likes of Intel, Nvidia, Data Diode Networks Cylins and so on and I can give you a few examples it's a medical device we brought down a diagnostic system from 24 hours to only 4 minutes right? so now we've got back then a big medical device company in our funding actually the work with Enterprise Ireland to allow us to port this software for one of the medical device prototypes we did similar achievement with the UK financial services company again we reduced risk calculations from 4 minutes to 1 second so there are huge applications for your very broad range of domains the second part is to look at opportunities for Ireland because I think it's nice to be not to be sitting on the fence, it's better to really be part of the action in my opinion we're living from significant and unparalleled opportunities but we need to be very agile as I said we cannot afford the luxury of thinking about it for 2 years and we need a multidisciplinary approach and I will explain later what I mean by this new technology we're going for an era of digital transformation and in my opinion it's due primarily to the convergence of all these key technologies at the same time we look at the cloud computing the internet of things, the big data the analytics, the machine learning the HEC, you put all that together all this capability together to solve problems it's amazing amazing what you can do nowadays and where the discussion recently we coordinated a project on smart agriculture and on flood prevention flood management making a combination of earth observation from satellite data from high resolution computer modelling and from sensor data on the ground it is absolutely unbelievable what you can achieve nowadays in terms of precision agriculture and I think whoever makes the first move of that we will draw major, major areas but the other thing I wanted to emphasize is the growing role and the growing importance of technologists so I'm not saying researchers researchers are extremely important but researchers alone will not bring you the finite, the full package of the full solution you need to get technologists involved in exploiting this technology and last but not least we have an extremely favourable policy environment and particularly at the level of the European Commission so some of you would have noticed last week we had the celebration of the 60 years of the Treaty of Rome and we had as part of this a digital day and that suppressed release on the European Commission and you will see that the Commission will bring ministers together tomorrow to discuss high performance computing connected mobility and industry digitisation we've gone a long way now to get HPC recognised as the number one technology here in the digital transformation agenda that you are you wish to have to look at it more closely you find a lot of tweet posts and blogs from Commissioner Heatinger from Dr General Robert of Eula from the Vice President of the EU it's actually a map of a number of European countries which have engaged in this industry for policy agenda and there is going to be an extra nine countries joining them shortly so there will be a total of 22 or 23 EU countries working together to get this digital transformation across this industry for policy it's very exciting so after everything I said earlier was one of the domains where I think Ireland has a good share of goals on computing and it is primarily thanks to friends from IDA Ireland because IDA has been a super addition to all these companies here in Ireland both the IBMs and Google, Microsoft and Intel and Accenture Labs are innovation labs as well there are partners from OneCubit and these are the people who are making this story who are making it happen so there is technology guys here and I didn't plot underneath but all the financial services manufacturing, all these other domains which are going to benefit the most from quantum computing are also located here in Ireland so it might seem to be very silly not to avail of that ecosystem to do something about it and these are the four application domains where we consider quantum computing and of course Ireland is one of the most respected centres internationally it is a mix-up service but I have to take this opportunity to plug the fact that we have been recognised among the top 5 centres in the world by Intel and LGDL with Xilinx who were the only academic centre to help their certification in design and Data Direct Network with a master of Singapore and Saudi Arabia so that's a truly and genuinely global partnership of those companies what demonstrated the ability certainly to pick up new technologies very quickly one final thing I need to say is that I wouldn't be able to produce all that material on quantum computing without a little help from Mark Kyle and his colleagues of Accenture but I promised that in exchange I would point out that if you are interested in quantum computing I've got the e-mail address of the person what we hope that document and that you should certainly contact them that are very interested in hearing about anyone who is interested in exploring quantum computing and what you can do for everyone else what Mark mentioned is that they are currently porting with their partner room in excess of 150 real-life test cases industry test cases on quantum computer so it's not science fiction, it's happening as we speak Dipler means another domain which recently got a lot of publicity to admit until a few months ago I just didn't know what it was but everybody was talking about it you know bidding somebody a plane go for the first time then I get to do something maybe a little bit more useful with some plane go which is to look at detecting eye disease I think it was a whole free hospital in London in NHS and I think that data acquisition for mobile phone app and for that again to determine to identify this and then somebody's item again I learned through that process I didn't know but it's that if you suffer from diabetes you are 25 times more likely to develop blindness but it's that if you identify that the problem is coming at a very early stage in 98% of cases you can actually you can control the situation I think it's fascinating so this kind of technology can actually save people's sight if used accordingly for detections I think it's worthy of of managing that it's a genuinely useful innovation now the second one is to look for the second collaboration that also was carried out with a different hospital in East London was a huge, looked at huge data sets again so here we make a comparison between Formula One and Deep Learning we say big data is a fuel with that big data you will go to where the last time the low precision neural network is a driver and this is your Formula One car this is a new generation of devices that utilises what we call low precision low precision communication and you see in the video on the internet moving news is worth of mention that's my good friend David Moroney who is the great great Irish entrepreneur, great success we got bought by Intel a few months ago the great Irish success so basically what you do you travel with huge amounts of data and your neural networks we discussed over lunch whether it was a black box or not is going basically to determine basically give you a verdict as to whether or not particular eye condition is as occurred what's interesting there is a map on contradiction between inexact computing here you spoke earlier about precision medicine precision agriculture and now I'm saying in fact computing it's a bit of a contradiction isn't it so what's happening in fact is that yes it isn't exactly the case of one data set because remember you possess huge volumes of data so statistically the result you get is actually a lot more precise and it should be for a deterministic approach and it means that because you are happy with exact results then you can afford to use only a small part of your processor so in the past we went to 32 bit 64 bit processor increasingly precise calculations now we go in the opposite direction and we got processors who are going to do floating point operation with commas floating point numbers with only 8 and that's perfectly appropriate for even fact computing and that kind of boost tomorrow because when you go say from precision to single precision automatically your device goes twice faster so you guys have boost for free basically just by switching to a lower precision technology so it's very exciting I was mentioning earlier the conversions of all this technology this is a good example the second one I feel very passionate about is precision medicine and again it's very interesting for us to remember how far we went and how quickly we went so the first sequencing machines 70 years I was told with the first machine in it that cost several billion to actually get one human genome several years 2000 with the first human genome project and what's been happening here with breakfast in terms of innovations in the creation of this high food sequencing machine we have been able to lower the cost so this is the cost 100 million, 10 million, 1 million 100k and so on so we are going to worse the 1000 US dollar genome it's increasingly close before human being it means we will be able to have the whole news of genome data as part of your medical treatment but it comes with a difference because when you get that graph it does represent the volumes of data generated by this technology how much storage do you need how much data is actually generated by those technologies and here you have three lines the blue line is more slow the yellow orange line represents the projection from Illumina who was a leader in the domain of high food sequencing and the red one is actually a historical trend historical trends say you double the amount of data, the volume of data every 7 months so give you a sense again of how much of requirements are going on I didn't need to mention that because when we go to our funders we will make a case for certain equipment and there's always a sense that the check has been signed, you've got your equipment just go away, you probably won't need anything else for the next 5 years I said well, not quite because technology goes so fast that equipment is actually becoming observesent within only 2-3 years that's unfortunate but as you see in precision medicine is interesting so many people again do not understand why HPC, why data management with a huge volume of data to process you need to get a very high level of processing capability and does your model, you went somewhere you downloaded the data, you were tested now it's finished, the data is too large to move is what you do, you move the computation where the data is but also we did realize that the way we did medicine in the past say you had routinely we prescribe say aspirate people with some kind of heart problems and so on so the type of treatment was based on average efficacy of the drug for the population and so dosage you received very much depends on the advice of the chief physical officer so what country you live in now we do a far more personalized approach with precision medicine for example you got a number, typical cancer have different strands, different mutations so the first thing you would do is to identify the genome for a particular tumor to see what kind of tumors are you actually affecting with then you look at the genome for the patient as well and with all those different analysis you are going to identify your therapy which is going to be optimal for the person, for the patient and hopefully with far more positive outcome but you need integration of infrastructure such as HPC data and lab equipment institutions from the clinicians and so on technologies and so on you also need data protection on the side which is very important and you can do these parties as well so I think that's a slide particularly particularly passionate so next one I go back to what I was saying earlier so I won't read it again because pretty much repeating what I was saying about these two collaborations between Google the first one is the Royal Free Hospital the second one is Moorfield High Hospital the only thing you would mention is that they have the largest repository of optical coherence, OCT, tomographic data scans in the world and they share it with Google I am told about a million animals digital eye scan with related information about the course of treatment and whatever was relevant information about the patient information but that supports in terms of the ability of legislation to keep up and the first one in part of Clarco's lot of controversy and people who were openly criticizing the press the right of the NHS the right of the hospital to share this data with Google I think there is a natural anxiety as a prospect of private data being in the hands of big black multinational corporations most of us are a bit worse but fearful about that why I say do it first and this was a response at the time that was given by the hospital they just followed standard policy in terms of sharing data with the party organizations now is that appropriate or not what's very interesting is that for the second collaboration the data were anonymized and there was no such public protests in terms of Google work in terms of hospital work but what's very interesting is how to strike the balance between the right to privacy and the public interest and in the UK there is a very interesting report because the UK can pick up principles and I like very much the 7th, 4th and 7th principles which is the duty to share information from the other people as a duty to protect patients from dementia now I don't know too much about this so if you have any questions about Cardicot that's my colleague Emma here in the corner is looking after our public sector collaborations works very closely with the central statistics of this and with the health research board Emma could tell you all about this principle what I wanted to point out and passing however is that the function of what we call this preceptor party data processor function in Scotland is actually fulfilled by their national high-performance marketing centre where I used to work so again it demonstrates the validity of these approaches and these are my final two slides because I realise it's getting warm and everybody is feeling a bit like an English sister we need to be strategic I said please so that's not a requirement just hope are we ready? yes we do have this platform absolutely we have innovation driven policies it goes without saying I think innovation 2020 demonstrates the importance of innovation in national policy and we have very strong industry links both for the remarkable work of idea Ireland and enterprise but in my opinion there are a number of key structural issues and the way I see it the venture with prioritisation based policies it can lead to a silo mentality or unnecessary silo of research and development that's part of the problem and also underfunding of platform science and technology and for me that's a key problem so then if you look at this emerging domain earlier quantum computing precision medicine and so on you need technologies to work hand in hand with domain specialists sometimes domain specialists for multiple domains so if you start putting in place a system that tries to partition, isolate and create silos in my opinion this is counterproductive what's even more counterproductive is to ignore the platform science technology and infrastructure and my second difficulty is the chronic under-investment in national infrastructure and I think what will be very useful here is to have some level of routine benchmarking of hybrid computing and data management infrastructure per capita compared to other European countries and I think that's a well known fact that we currently have 6 UK universities with more computational power for their own university individually than we have for the country as a world and I don't think that's a normal situation that I don't think this is causing a lot of difficulties to people who rely on processing power to carry out their business for example I think another example was the lack of availability for a platform for data management I think again the mystery to name is that this is certainly slowing down as you know from the observation of learning I can name some but a few most of the companies that come under name come to see me, the first thing they say is do you have very large data sets? why? because you want to do machine learning you want to do deep learning you don't do deep learning I was going to say I'm a floppy disk you did much larger data sets hundreds of terabytes of data pipes why do you put them if you don't have an infrastructure to store this data? I'd love to ask that question particularly with big data analytics in regard of the priority infrastructure is not just about equipment infrastructure is about software and more importantly is about people so in my view the funding makers should take care of addressing infrastructure as a whole including the funding cost including the software including the people all too often are on the side and I think the whole importance of technology should not be understood and I think if you want those guys like my colleagues here and effectively with domain specialist clinicians, whatever it is in industry or academia we need access to opportunities to funding but we also need clarity of resting and the problem with the academic world I hope I don't offend too many people but it is one of the last remaining caste systems it is a caste system right? so you are a career academic or you are the riffraff you are the technician a glorified technician but that's a problem because we don't form high performing teams without respect and that's the last slide key recommendations are taken to free I think we should consider focusing on a top-down approach to national infrastructure funding and I've seen somebody here from the department of the t-shop so maybe that's my one we need an approach which caters for cost department or cost agency initiatives because I think to my mind as taxpayer it would make sense to fund data management infrastructure computing power, a different one for agriculture different one for jobs, different one for education different one for each government department it just doesn't make any sense this needs a cost department role and you achieve considerable economies of scale not only in terms of the hardware but the software infrastructure in terms of deployment and operation so we need that big deal and the management department recently visited the data center of the revenue commissioners and I was delighted to see that all the equipment helps the little batch from the department and you find pretty much in the single government department you find the it was the prism services you had revenue commissioners all these state agencies together understood the benefit of the data center and sharing the same infrastructure so there is a good understanding of that domain of the benefits of connecting the doors and having a cost department approach so in such infrastructure to be robust near machine critical and loyalty disciplinary robust why? because if you want to use it to deliver public services if you want to use it as a platform collaboration of industry it need to be 24x7 if you look after it it's just not good enough so we've been operating the national weather forecasting for over 10 years we know how to do this kind of business we are very happy to help people who are offered this opportunity disciplinary at two different levels because the current approach tend to lead to organization of resources again as I said if you start distributing infrastructure funding across several universities because you are concerned with your popularity of the university sector those are genuine benefits of bringing together data cells from various disciplines within the same infrastructure greatly facilitates you look at transport weather or climate and health and so on you can look at clear correlation between say climate and the development of certain conditions like respiratory disease and so on or transport for example if you start by putting them all over the place flooding is a good example right? flooding seems a calculation once you need almost I think about 10 different data sources for an efficient flood modelling system I mean again if you all decide under the same infrastructure it's much easier to deploy models the second one if you need to introduce programs to support HPC technologies again it's a bit self-serving I apologize for that but I think it's a good platform to I hope you allow me a bit of self-serving promotion but there is a significant opportunity for the country in terms of training education there is going to be huge demand before too long for people who know how to deploy these kind of technologies very effectively and again that's something not only to look at the third level sector but also something to look at the younger age and I think there are some very good initiatives in this domain I heard about some initiatives from Google earlier over lunch so thank you for that so it's a kind of initiatives we are looking to see adopted and the need to bring despite your esteem and come back to it again which is maybe reconsidering certain eligibility criteria that places us outside of training models and the way in which applications are being reviewed and the final one I think we have a need to expand processes we can always do better no matter how good what we do is we always need to do better and my feeling in terms of policy implementation is that we could greatly benefit from the creation of an international strategic advisory network participating in such groups in the UK for a good few years and that allows me to show that whatever awareness of technology is going to be found and we need to be responsive what's happening in other countries that are connected to the rest of the world and not taking our decision in vacuum and the final one really is I would also be very keen on the position of chief technology officer to the government being created we saw the benefits of creating the position of CIO as no doubt we all understand the benefits of what a good chief scientific advisor can do in that domain as well but I think technology is sufficiently if some domain is sufficiently distinct from science in my view that it deserves to get somebody really in charge of this brief and somebody I would add with a long track record in industry and a long track record of innovation would be even better if we could secure as a participation in such a person Hop, I wasn't controversial Well, yes you were Thank you very much