So, yes, as Carl says today, people are often very confused about hooks and filters, so I'm going to try and make a quick sentence. First thing that hooks and filters are absolutely everywhere throughout the WordPress source code. This is just even a core, and plug-ins also have their own. If we didn't have them, WordPress, you couldn't do anything with it. It's a developer's gateway into WordPress to make all these changes, you know, enhance it. If we didn't have it, we probably wouldn't have any plug-ins that we do have, you know, massive amounts of plug-ins to do. So if you're, as I said also, you know, if I'm looking at the source code, I go searching for things that do actually apply to filters. And when I see those, you know, those code calls there, I know that's an opportunity for me to interact with that plug-in or with WordPress at that point of time. And so, you know, like, WooCommerce is a fantastic example of tons of these around the place, so you don't have to go hacking those ones. And so the WordPress core has allowed them as well, so you don't have to hack it. I did a search for WordPress 4.95, and I found 860.72 action calls, and 1,700.385 filters calls. That's a huge number. It's this thing on the right-hand side, you might have a bit of a hard to see. One of the actions that it might come across is don't have any head. You'll see it in your, you'll probably see it a lot of times on themes. And so WordPress itself adds a lot of, uses that particular action to add a lot of code in there.  I'll give you examples of what it's doing in those cases. And so the first thing to do is, what's the difference between actions and filters? Hux is a bad name, I think, really. It, you know, doesn't really apply, but it might be, you might continue to, you can hook your way into the source code or into the execution of WordPress and do something. But with the actions and filters, which are the two different types that are available in the code, actions allow you to, it's, when you see do action, that's, you know, an action point. And the WordPress is going to see who's going to be, who wants to run at that point in time. What it's doing is, you can run your code at that point in time. You don't return any data, and that's the difference between any filters, but you get to run your code. When you see applied filters, it's what it's going to do with anyone who wants to run to the code at that point and give them some data, you know, which is obviously developed at that point. And, you know, you can do your code, and you're expected to return some data with it. So, to give a metaphor, again, to try and help on the standards, I would describe, you know, actions like a music festival. So, for example, the BBC's biggest, biggest weekend is on the moment over near the time quarter. And today, remember back, so let's say you decide you want to see Nina Cherry this afternoon. What, when this, with the music festival here, you say to somebody, hey, look, I want to see Nina Cherry. Give me a call, she's coming on stage.  They might just die from compression going.  This is the action name, so when you see a do-action caller, you're on, it has a, that's it there. Then this is the name, your code, and this is the position.  So when the WordPress comes along, WordPress goes along, and at this point in time, it says do-action bad name, it has a quick look, hey, who wants to be called, and who wants to be called a modeler. You might decide, I want to be called first, second, third. And that becomes more relevant depending on what you're trying to do. But most of the time, people don't write in there, 10 is fine, you know, they pick 10, so you can do lower numbers. And I mean, you have that number you want, you have 10,000, there's no over, there's no over number. Two. So, that's kind of obvious, yeah. Sorry about that. Okay, so with core, with do-actions, in WordPress, when I said I saw there was a ton, there was an 800 instead of, yes, 800. With your look at what happened, and there's a lot of, there's a lot of ones that use, when the page has been executed, you know, you make requests all the way to the end of the page being delivered, the core calls a number of plugins or actions that, you know, people are typically going to use.  And after the theme has now been loaded, and ending in it, one time showed that yesterday when he was registering, or earlier on, when he was showing the register of taxonomies, you do that, he also showed pre-guest posts, you know, where you can decide to modify the filter, and the one I showed earlier, your WP head. So, but there's a ton of, there's a particular codec reference, and this is about facing them.  But it lists them all there, and there are obviously, you know, 810 more. The plugins, and with regards to that one, they're all done in certain times, okay? And they become quite important, especially for the plugin loading. I think it's a good example of that. If, for example, plugins, there's a database entry, which has active plugins, and it lists them all alphabetically. And WordPress comes out and just runs those, those all in that order. Now, if your WooCommerce thing, right down the end of the alphabet, if I have plugins called amazing, you know, advanced WooCommerce, it's going to get run before WooCommerce. So if I wanted to do something with WooCommerce, I can't start running WooCommerce functions until that's loaded. So what I have to do with my code is, I'll say, oh, actually, my code I really want to run, run it on the plugins loaded action, so that won't actually get run. So that's like saying, hey, tell me when everything's loaded and come back to me and I'll run my code. So when everything gets loaded, now WooCommerce is loaded, now I can come back, you know, I'm called, and say, hey, do your stuff now. So I'm not running stuff early, having scenarios where, well, hey, this function doesn't exist. You know, you're actually sort of saying, you know, just put me down for this, come back later, and I'll do it. And when you're doing all your code, when you have your plugin, if you want to run something and, you know, your plugin's actually loaded really early on, but you don't get your code called later on, that's the whole thing about actions, and more just putting in like that music act to say, you know, I'm putting my register, registering my interest very early on, but, you know, I'm not going to get called to the appropriate right time. And so, here's a super simple example of what it would look like, and I say, in the code, you're in, so you write that action. This is the action name you'll see, it's my function name, I just put it in there, for example. And this is what it looks like, I have my function. So, because it's an action, I said it's, you actually get to do something, you're not actually returning any data, you're putting something there, and look, I'm just going to enter a comment. So, if I use the code, I've often said to people, and if you want to, you know, there's like, oh, my action, my code's not working. It's like, well, just put something in there that's going to render in your HTML, you know, and as a comment, it's not going to damage at least if you could view source and go, that is wrong, you know, then you can start working on what the rest is not working. And as I said, you know, this third one is default, so I didn't need to add it, just to show you where I made, but it's any positive number, it can be. And the example I wrote on was WP head, and you saw it, that small screen shot, it was from one of the core source files that there was a ton of code that's added to it. So, within WordPress core, really, this is the line that calls all those guys. And so, what WordPress does, it goes, oh, hey, all those guys who want to run this particular point is not necessarily running them. So, this function here, which is in this 20 trailer, and said, and on that action, WP head called this function, and that function actually pretty much just does this particular markup. So, when you look, the scene, if you look, you want to view source and say, what version of WordPress are you working on there? That's where that line came from, from that function. And that's why you'll often see these security plugins or optimization plugins where they remove that, trying to anonymize it, so hopefully, you know, no zero-blade function, zero-blade vulnerabilities are being exposed, and all they're doing is actually just stopping them running. So, an example, let me do an example here, where there's multiple uses for do action. And one example I would give is, you know, adding content. Like WP generator, you add a particular bit of content into the markup. If I could do something similar, I want to add my own name into the markup to show why I wrote this particular page. And so, what I just do is I do an add action and add my own name, and this is my code here, and all it does is, you know, spit out some mark, and so obviously, I haven't dropped out a PhD and got back in again, and that's why I didn't have to do an echo call. So, that's a simple example there. So, another one you can also do is, you know, when you do an add action, you can also do what the orders are running. You can come to that and actually say, oh, by the way, I want to remove something else. I'll show you how that would work. So, I said that there's three plugins that they might decide, hey, we don't want to expose the WordPress version. So, what they will do is, you know, use, sort of, say this was being added by this. So, what I do, and this is where the part comes into it, because obviously, if I wrote my client code before this, I might say, hey, remove this particular thing, it wasn't added to the list, you know, the music that interests this, so I can't add it. So, what I have to do is, I'm coming across here, or WP head, you know, I'm going to jump in and remove, just before, just jump ahead in the queue before this other one is about to be run, and I'll just remove it. So, that's where those security plugins probably do something similar to that, like they might use it slightly in action, but they have to run it. They have to run, if they made that number 11, if that function is already run, it's too late, you know, you're gone. So, you have to don't jump in before I can take it out. And you can do that, anything that has been added by add action, you can pretty much jump ahead of it and remove, you know. So, you can disable stuff with, you know, WooCommerce without, you know, adds a lot of stuff with add action. Again, you can use this type of scenario, jumping in before they get run, do something, take them out, change their order. Another scenario in this, WooCommerce, if you want to move stuff around. So, WooCommerce, I don't know what person was, they changed their templates. So, instead of actually having everything in big templates that were quite inflexible and required due to the edit template files, they changed to be in add actions. So, what they would have is like a single do action call, and early on they would have said add action, they'd say add the price, add the image, add the meta, add the short description, add the long description, and the variable fee is all those things added by that. And so, what that allows you to do is change things around or remove things. If you decided you wanted to hide the title or you wanted to hide the price until people are, you know, logged into your site, and that's what they would do is they would hide it. They wouldn't have to edit it and template it fast. So, for the example here is, I decided here, I want to move things around. Okay, so, what I do is I jump in, just before I jump in, this particular action is called before all this stuff here. So, what I do is I jump in pretty early and then start moving stuff around. And what I'm doing here, this one here, when you do a remove action, you have to call it. You have to call exactly the same add action, you know, but you just change remove to add. So, in WooCommerce code, source code, it'll have add action, all that, and, you know, template single price with a problem of 10. So, what I like to do is I have to go over the chain that you remove and I'm going to add in certain different spots. So, what I'm actually doing is, instead of appearing in, you know, the 10th position, I'm running it harder. So, the price will probably be very, very high upon the page. I do have an example of my own website where I just, a very exaggerated example where I just turned the whole WooCommerce page upside down by doing this type of thing. By removing them all and then adding them all in a completely different order. Just to show that you don't need to modify template files because that becomes a nightmare when WooCommerce updates theirs. Now, the filters, I think, I've often had a bit more difficulty with filters, partially because of the actual syntax involves a bit longer. So, what I would compare it to, like past the parcel, I don't know if everyone's familiar with that idea. It's a party game where somebody has a parcel and has a gift wrapped inside it, multiple layers of wrapping paper, and as it goes along with the music stuff, the child takes a piece of wrapping paper off it. So essentially when all the piece of paper is removed and it goes around in circles, they win that prize. So that type of idea is where they're being passed when you're with the added filters, your function is given some data called out the parcel, and the WordPress expects that parcel to come back. Now, the parcel can be unchanged, it can be changed. You can add more wrapping paper, you can remove wrapping paper, you can switch it to a completely different parcel in there, but you do have to return something back. So essentially, when we have the added action call, the added action call ended there, whereas with filters, you might be passing it at a number of pieces of data to you, so you have this as the counting for that. So, I'll give you an example of the content. So when you call the function of the content, and it has the same name as the filter, they are very different, so to say, when you call the content, it goes and calls the content filter. So that allows people, that allows WordPress, for example, to change all the, your smart aids can get changed, you can actually, I don't think it doesn't fit. There's a number of different things it does, and it might put in paragraph tags and that type of thing, and short calls are getting done as well. So, if you wanted to make some stuff, for example, if I wanted to append something to the end of all my posts, you know, not just footers, I would do something on filter. And it looks very like the add-action call, and, so, this is the actual name of the thing, this is the my function, because there's only one, and because I'm both positioned 10, you know, in order, and there's only one parameter, they can default, it's 10 and 1, so I don't have to add them, but I'm receiving this bit of data, and so what I'm all on doing is just taking the, and returning that bit of data, and this at the end. This is a very, very simple way to do stuff, and, you know, that's a very simple example. They do sometimes gash, a little bit more complicated, this is where the 10 and 2 come in, so in WooCommerce, for example, when they, they have a thing that says, the product is in stock, and you can decide to change it, you can remove it, or even when you decide you want to, you know, if it's on sale, it's show-numbing, you know, you might want to put that back for it and so forth. So with the add filter, you just say, add filter, now here's my particular function, main, and I'm going to, when you have a 2 here, you have to add a 10, and so on, because I can say it's 2, I can just pass to it. So what WooCommerce is passing to you is, it's passing in the string, it would say, in stock, and it's passing in the product object. So when I have this product object, now I can, this is, I can check the products, it's on sale, return nothing, otherwise return it, and yeah, so that's, you know, a simple way of changing stuff, I didn't have to file a template file, and maybe, I don't know those extra conditions here, I can change it to be saying, hey, it's super on sale by now, priority, or, you know, it's not on sale, just stick with it, you know, so you can choose it, change it, and another one I often do, about a particular filter, because he often says, well, I wonder if this is the right filter I've chosen for this particular bug face, and you might know what I often do is, you know, I check the data that's coming to me, so, for example, here, what I'm doing, and this goes back to the talk this morning about debugging, and so I say, well, am I adding a filter here, this filter actually doesn't modify any data, it returns the data, but I made a point of actually looking at what data came into it, I'm writing it to the error log, hopefully it's my debug log and WD constant area, and I'm also noting the page, so therefore, what I can do is, I can run my page, nothing has changed, I can go to the error log and say, hey, what data was passed and what page it was, and I can learn something better, and if this is a very simple one that was passed, with the WooCommerce one, I maybe didn't know, I don't know what spring came in, I don't know what's there, I can do a VAR export of products, and what data is coming into me, and I see, well, is this going to be useful, or do I need to use that data to find something else? So the big question is, where does all this code come from? So if you were to write a small little bit of code, I'd say, where do you put it? And you might not want to put it if you're a theme, you may only have a parent's theme and you say, well, I can't be modified, that's not a great idea at all, and you say, well, I think it's actually much easier, if you have a child theme, you can throw it into its functions.php file, but you may have code that you might say, I'm going to be changing this theme the next while, but this particular bit of code, I don't want to disappear, no matter what theme I'm going to use, I'm going to have this particular feature, something we would call a functional plugin. Previous talk, Tom said you can go to generatewp.com and it's a very simple one, I decided I'd call it that, I gave it to you in a quick description, because certainly these two bits of text will appear under plugins, so you know when a plugin is there, and I think it's also very useful that when it's a plugin, you can activate it, deactivate it, especially with something you only have for temporary use, but for a very short term, it's quite healing. So, I need to snippet that code I had already gone, you can just add a redoubt. It also means that you can say you deactivate it, you can invite it, or if there was a problem with it, like if it bombed out, if you put some code in here, let's say you have a spelling mistake in it, or a typo in it, when you try to activate it, WordPress is going to trap that thing, or if you put it into your functions on PHP, you had a mistake in it there, you load up the page, you've got your white screen, whereas this one you've caught it, you haven't affected anyone at all, you just go back and fix it, and then you can activate it and help you save it. So, the summary is that I'd say my metaphor is for actions, like you're getting a line for concerts, you're just doing stuff, you just line up and you do your thing and you have to move, in the parcel where you're actually dealing with data, you have to return the data, which you've quantified as well, and a function on coding updates are very safe, with an Azure code that won't damage anything, won't get lost in updates, won't get lost in team changes either, so that's it. I really like the analogies, they're reading very well. They're running or something. My only issue with path to parcel is, as a Rusty PHP developer, for filters for me, I just can't get the paper off. So, is there any, filters, just to me, sometimes are quite difficult to just parse in terms of understanding what an applied filter in its intention is doing, are there any kind of tricks or ways of deciphering how to use a filter that you kind of come across? Because the example you get was great. Some filters get incredibly complex in terms of how they operate. Some of them are rigged. I had struggled for a while when you see an ad filter call, especially when it's embedded in a line of older stuff, especially because one of those, what's the triple one where you have a question mark call, one of those ones, one thing I always try to remember, and it's very quickly easy to get, is when it says that apply filters, the next parameter is the data that's coming and they want to come back to you. So you can have, for example, instead of applying filters, this video, I said HTML and then product. And that's where you think I've often looked at which is how we come back, especially where it was multiple parameters. And that's exactly why you're buying me this debugging thing, because I always experiment with stuff that way. And when it comes in, I always do a VAR export, or an air log of VAR export all the day to see what it was. And then, so now I understand what's going through that filter and then I go back into it. But this is a very safe way, always returning what I think should be, you know, you're not crashing stuff. You're not going to get just 500 errors and so forth. But, yes, it is, especially when they're written, if they're written on a single line, I've gone, you know, data equals apply filters, something, data. So they're passing data and sending it right back again. They're easy enough to understand. But when it's embedded in a line, that's why I always go for this. As a VAR export, VAR export is the one that's the truest way to get it. Yeah, because if you do a VAR export, whatever's true, it gets on your page. So, as an air log of VAR export, I always use that. It will send my data to it, it won't send it to a browser, it'll send it to an air log, and I can go look and go, oh, yeah, I can nail it. And especially if it's an object, or it's an array, and now you can understand how it would have died, it would have never died in, but it is a challenge, yes. Good. Thank you. Yeah, it's very easy to note the big sequential list of filters and actions, and it kind of feeds a little bit sloppy. I was going to wonder, is there any performance issue with a lot of us to a position of plug-in or to functions? And also, so it actually functions, I think it's a mid, people are often concerned about adding an extra plug-in. As always, they don't add too many plug-ins. But with regard to WordPress, I mean, if it's in your functions on PHP or it's in a plug-in, it's just another bit of code. They just have different names, you know, you might say, oh, it's in my theme, it's in my functions on PHP in my theme, and that's a huge look, and it's going to be difficult to manage. But you know, these things are all extremely quickly, the same code has been executed, you know, depending where you put it. But so the non-performance, in fact, I don't think there's any performance benefit in your theme or in a plug-in. I actually think it's easier to manage if it's in a plug-in because if you want to disable it, you can disable it just that one bit. It's just got a few years wrong. No, I agree with you. I think it is a misconception in it. And so it's justified to not having too many plug-ins. But I think a lot of people are perfectly wrong with two extremes. There are plug-in plug-ins where that particular logic applies completely. But in smaller cases, I think, I think it's much easier to manage. For example, like I have a folder and it's just basically I have WordPress, I think I call site plug-ins I bought. And I have all these different things. For example, there's one, you know, with your body tag, it will tell you, it doesn't tell you the page URL, but it has another few things it might say, Node.js or a few other classes there. Well, one of the ones I found many years ago was adding the page template into it and adding the URL. So if you decide on it, because right now in your body tag, you have something like page-1213. And that will be the ID of the page. I don't want them to remember the page ID. Whereas if you put in the page URL, so if you're about that page, it's going to put in page-about-bash-us. So when you reference that in your CSS, everyone knows what that means. You know, it's very logical what that means. And instead of page-1213, who knows, who's ever going to remember what that is. So that's a small and slight buggy that I just throw in. It's a very simple one-liner filter, a very short filter, and it just adds that into it. And again, that's something I would just drop in. I would happily copy those things into a client area without a certain performance. You could have a hundred loads, and it's still going to be faster than using that one. So it's really quality of your buggy into what the buggy it is. Yeah, and I gave examples on the area of WordPress website. They had a massive big plug-in. It had 18 modules in it. They were only using two. And one of them was, for example, related to displaying related parts at the bottom of the product page. And that was, you know, and when I looked at how to remove that, it was again, it was just a remove filter or a remove action call. So now, there's something similar with the other modules you use. So just by adding like two or three lines, I know to remove that whole plug-in. So even though they're only using two modules, the plug-in had all those modules in check. How you can use, how you can use, but all the code is parsed. So now I've used it. So, you know, you can, from a customer, from a person, a non-developer want to do, it was a good move to put that in there, you know, otherwise they'd never figured it out. I had to go even myself. I had to go, well, it's a code to figure it out. But in small cases of that, I think if you can convert it into code, I think it ends up quicker. And it doesn't matter anyway. And then you've ended up with the function part of loads and loads and loads of filters. You maybe start it off from the wrong bits. If you're worried about a huge page, you can really slot it, because you've had to filter in all this code. There's maybe a chance that you start it off from the wrong places. And we're trying to do too many things, and do we actually need all of those things? Or the thing, more than the basis, we started off from those well away from where we find, actually, what we can get to in the end. But having to re-build all the way back, you know. Any other questions? I'd like the idea of the functional plug-in that you can turn it on and off. Is there a way of having that, that you can edit the code in your admin interface? Yeah, you can actually. Sometimes the editor, the back-end editor is turned off. But if you would plug-in, I think plug-ins, I think. I know the editor is on by default for the themes. You know, you can actually go into your actor theme in it. You pick the file you want. Actually, plug-in, probably I don't think it is. There's another plug-in called CodeSync. I was going to say that's another option, yeah. Which basically lets you manage your in this case, you can manage them. But they're generally done, I actually used to use that quite a lot myself, but I've stopped using it because you lose version control. So, like, if I'm maintaining and they can tweak to something, if I might, if it's code, that's sitting on my hardware and I've got it committed to a git repository and I write something and I can roll back. Where's CodeSync, it's the plug-in. Well, it's great because it's yet not under version control, so that's the only downside. That would probably be the easiest one the way to achieve what you're looking for. Somebody says, oh yeah, just copy this from your Facebook group and you just drop it there and it will be the one to activate.  Yeah, these could even have to rename the plug-in or whatever it is. Yeah, so whereas, like, if I upload a mine and activate it, like, you know, if it's activated and then I upload one with a mistake, it's going to 500 error, I mean, you know, you have to FTP and take it out, whereas if it was in the database that could be even harder, you know, to find where it is in the database and, you know, remove it, it may be in a serialized area, you know, where they have taken all the codes and put them in one database entry and, you know, that could be a major mess. So, I don't know, I hope they store a bit better than that.  You go through your error logs and whatever they are, all this stuff and the did go to WordPress top this morning Anything else? Okay, all the rest don't look so real, thank you. Let's give them a big round of applause.


Hello ladies and gentlemen, welcome back to the weather forecast for this weekend in the upcoming week. Let's get right into it. This Saturday temperatures will be moving to a potential high of 65 to 70 degrees on Saturday with a low around 50 degrees at night. Winds will be mild around five to 10 miles per hour. The humidity during the day will be about 50%, but increasing as we get into the evening and Sunday. Partially cloudy during the day again will be increasing sky cover into the night and next day as we get a few signs of rain into the evening, but the rain will most likely be on Sunday and not on Saturday. Sunday forecast moving into Sunday we will see temperatures stay around that 50 degree area as chances of rain increased during the day and into the night. Winds may pick up to 10 to 12 miles per hour as we start to get showers the humidity will also be rising 60 to 65 70% going to be cloudy mostly the entire day and overcast into the night. In terms of the jet stream, the jet stream seems pretty much out of our range from our area to it will not be giving a significant effect on our weather this weekend. So no, so no wild temperature drops or sky covered sky cover changes are expected. And then into the the upcoming week Monday we will see a high of around 52, a lower on 45. Tuesday, we'll see a high around for 57 a lower on 46 Wednesday, high of 54 low 43 Thursday high of 56 degrees, a low of 47 degrees. Friday, a high of 52 and a low of 40, looking like a cloudy week with chances of rain periodically throughout the week mild temperatures no no swing to 50 to 70 or low to 30, sitting around that 40 to 50 degree area. But yeah, a little bit of a cloudy week coming up. And that will conclude our weather forecast for this upcoming weekend and upcoming week. Thank you for joining us. Hope you enjoyed.


Preventive health care, preventive health care alternately preventive medicine, preventative health care slash medicine, or prophylaxis consists of measures taken for disease prevention, as opposed to disease treatment. Just as health comprises a variety of physical and mental states, so do disease and disability, which are affected by environmental factors, genetic predisposition, disease agents, and lifestyle choices. Health, disease, and disability are dynamic processes which begin before individuals realize they are affected. Disease prevention relies on anticipatory actions that can be categorized as primal, primary, secondary, and tertiary prevention. Each year, millions of people die of preventable deaths. The 2000s study showed that about half of all deaths in the United States in 2000 were due to preventable behaviors and exposures. Leading causes included cardiovascular disease, chronic respiratory disease, unintentional injuries, diabetes, and certain infectious diseases. This same study estimates that 400,000 people die each year in the United States due to poor diet and a secondary lifestyle. According to estimates made by the World Health Organization who about 55 million people died worldwide in 2011, two-thirds of this group from non-communicable diseases, including cancer, diabetes, and chronic cardiovascular and lung diseases. This is an increase from the year 2000, during which 60% of deaths were attributed to these diseases. Preventive healthcare is especially important given the worldwide rise in prevalence of chronic diseases and deaths from these diseases. There are many methods for prevention of disease. It is recommended that adults and children aim to visit their doctor for regular check-up tests, even if they feel healthy. To perform disease screening, identify risk factors for disease, discuss tips for a healthy and balanced lifestyle, stay up-to-date with immunizations and boosters, and maintain a good relationship with a healthcare provider. Some common disease screenings include checking for hypertension, high blood pressure, high perglycemia, high blood sugar, a risk factor for diabetes, mellitus, hypercholesterolemia, high blood cholesterol screening for colon cancer, depression, HIV and other common types of sexually transmitted disease such as chlamydia, syphilis, and gonorrhea, mammography to screen for breast. Cerecolorectal cancer screening, a PAP test to check for cervical cancer and screening for osteoporosis. Genetic testing can also be performed to screen for mutations that cause genetic disorders or predisposition to certain diseases such as breast or ovarian cancer. However, these measures are not affordable for every individual and the cost-effectiveness of preventive healthcare is still a topic of debate.


Your time, maximum of 10 minutes, I will show you. Sure, no problem. Well, thank you very much for this invitation to discuss CEPOS talk. I think he has made an excellent presentation on an important topic, the link between financial liberalization and economic crisis management. Now, as you saw, the Nordic countries, they provide a rich experience, both for developed and emerging countries. For developed countries, as you know, they do have a pretty high level of income per capita. They have, I think, more important than that, or totally connected, they have very advanced institutions. And I find it hard to believe that when you are facing a crisis and when you're talking about financial liberalization, issues such as financial inclusion or the quality of institutions are irrelevant. But they're also important in terms of the potential lessons for developing countries, for emerging economies. And there are several reasons. I'm gonna show you some figures, but there are several things that are similar in the Nordic countries with these emerging economies. I'm thinking about the size, and I'm gonna be more precise in a few minutes in terms of GDP. I'm also thinking about the fact that these countries, to some extent, are kind of exotic, like the Latin American countries are, in the sense that they are perceived as different. And with differences, you have more liberty, more freedom to do things, but at the same time, you have this feeling of abandonment. I'm gonna try to be precise about this, and about how important I believe it is for police implications in a few minutes. Now, since I don't have a lot of time, and I like to talk, so for me, 10 minutes is nothing, let me basically mention that, and since this is not a mystery novel at the same time, let me just in one line stress what I think is my most important point. Maybe I should say that if really bad things, and when I say bad things, I'm thinking about policy mistakes and market mistakes happening in the Nordic countries, they can happen anywhere in the world, okay? So I'm gonna try to be precise about what that implies in terms of a police implication and the type of concern which you have, especially since you're talking about a high human capital and very advanced institutions, like the one that you find in Nordic countries, imagining countries with low human capital and bad institutions has, or at least imperfect institutions to be more polite as you find in Chile or in Vietnam. So let's talk about that in a few minutes. Now before starting and since I'm coming from Chile and I have the perspective of the Latin American countries with a focus in Chile, let me show you just a few figures that compare the Nordic countries and some of these Latin American countries that I'm referring to. So just in 14 seconds, several years, I don't want to start a discussion, I have Argentinian Brazil to be not so childish, but I'm gonna just talk about Chile. Go to the last column to your right, 2013. Size, none of these countries is really large. I mean, none of these countries, let's leave Brazil aside, it's even 1% of GDP in the world. I'm trying to say that we're not so important, no matter how rich we are, we're not so important for the rest of the world in terms of size. The second thing, go to the second panel of my slide. Of course the Nordic countries are much richer than, say, Chile, even today at least twice as rich in terms of GDP per capita. The third thing that I want to say from this table is that when we're gonna compare crisis, like once they had in the 90s in the Nordic countries, in the early 90s, look at, these are current dollars numbers, but I mean, you see what my point is, they were rich enough at that time, at least in comparison to the rest of the world in those years. The crisis in Latin America happened in the early 80s. So it happened when these countries were much poorer. And as I said before, it's gonna be very different to face a large crisis, especially a financial crisis, when you have a lot of challenges that you don't have when you're rich. And when not being rich implies to have bad institutions at the same time, and credibility has something to say about these things. Now, just two figures, two pictures, and then I go to my talk in the last seven minutes. So the crisis that Seppo was referring to happened in the crisis happened in the Nordic countries in the early 90s, in Latin America in the early 80s. I just called T two years before the crisis, 1980 for Latin America, the dot line for the three countries that I mentioned, I'm referring to Chile now specifically, and the straight line for the Nordic countries, at least the one that Seppo was referring to, where T is 1989. Just I don't want to get into discussion. So see what happened in T plus two where the crisis started either in 1982 in Latin America or 1991 in the Nordic countries, you see this huge fall, I mean these are drops in GDP of something close to 15% what we're talking about this yesterday. Now in Chile, the crisis was even more deep, more intense, right? Was deeper than the one that you found in the Nordic countries. But what I like about this picture, and what I think we need to concentrate in is the fact that we have three things here that we should concern about, and that may have different policy implications or at least have to do with different issues. Three things, or three phases if you want. The first one is what happened before the crisis. So we can discuss about what incubates a crisis. And of course to have good policies is gonna be important, I'm gonna try to mention that for me the key, I just destroyed this, I hope I don't need to pay it. For me the key thing when you're incubating the crisis and you don't know the crisis is coming is the fact that some similar things are happening all over the world, no matter how rich, how dark your skin is, or how much money you have. And the fact that you have a lot of, something happening in the financial sector, a lot of credit is going on and so on. And suddenly you have the gray line, the crisis, bad thing happens. There's a shock, shocks do happen, and the crisis is triggered. That's the second part, which may be different from the previous one is connected, but it's a different issue, it's a different paper. And the third part is what happened after the crisis. Here, I'm gonna try to say that what happened before the crisis is very similar in the Nordic countries and in Latin America and in the US and so on. The crisis, there can be all kind of shocks, but I mean at the end you have a shock, something bad happens, you have a fixed-section way, you made a marker mistake, and you need to liberate, you have problems of credibility and then things go wrong. Or maybe something wrong happened overseas, maybe the URSS disappears and you have problems with your exports, or maybe you have a German unification and you have problems with your interest rate, or maybe Reagan is in charge of the US and raises interest rates and you had a lot of debt before and with flexible interest rates in Latin America and then you need to use all your export to pay just the service of the debt. But what is also interesting, and this is the third paper, is what happened after, is the recovery. Because as this picture shows, recoveries can be very different. I'm gonna just show you one picture in a few seconds. And I think the recovery also has a lot to do with the decisions that you make, and that's a lucky thing. I'm also sure that the first part, incubation of the crisis is something we can control. I'm gonna finish with that line in a few minutes. I don't have a lot to say about the trigger. We can talk about what you were talking about, problems, marker problems, but I think the recovery is something we have a lot to say. Let me just mention that, and this is based on the kind of things I have work on, that productivity is gonna be key in the recovery. The kind of decisions that you make that allow the market to adjust after the huge initial cost are gonna have to do mostly with productivity all over the world, and also sometimes labor, as it happened in Finland. And then when the recovery is the right one and you did the right things and you learn from the lessons, you are in a fantastic picture like this one, when you have the Nordic countries, but even better, I'm sorry to be so aggressive, Seppo, but just you can defend yourself. But even better in Latin America, look, I mean, this is just fantastic, these poor countries that face the worst crisis in 100 years and nothing happens there. This is 2008. All of them are 100 in 2007. So Chile is just growing like crazy in the middle of the second worst crisis in the post-industrial revolution era. And this has to do with the kind of things you decide to do after the original crisis, what you're learning from those experiences. Okay, so let me start my presentation. I have 10 minutes then, right? No, just kidding. No, I'm starting my presentation. I know, I know, two minutes, imagine. Well, thank you very much, I know. Okay, so just a few comments. I mean, come on, I mean, this is a lot of material. I was reading Seppo's papers, they're really interesting. I mean, the experience in the 80s and in the 90s and so on. So I'm gonna just focus on a few things to try to stress a few messages, but then we can maybe have a very broader discussion during the 30th or 40th last minute. And you're gonna see this by yourself. I mean, not much to say here. Basically, I already mentioned what I wanted to mention. A lot of agreement with respect to what happens before the crisis, exposed of course. I like the quote by Christine Lagarde from the IMF in 2011, all financial crisis. She doesn't say in advanced economies, all financial crisis are brought about by the same circumstances. Easy money, so a lot of credit. Slack regulation, regulators didn't do their job, and optimism, blue skies thinking. I like that, I think that happens in... The fact, I mean, it's so amazing too, because if you tell me this is gonna happen in Chile, I can see that. But if you tell me it's gonna happen in the Nordic countries with the human capital and good institutions they have, I think, wow, this is a powerful thing. And we need to accept that and see why that happens. Even if you have such a different institutions in these two type of countries. Just one second, there you have an example of the same incubation of the problem, the same shock, but then very different recoveries in the early 80s. These are two countries, Mexico and Chile, with terms of trade shocks. One exports only oil, the other one copper. All of them go, both of them go down 15%. Look at the difference since then. In one case, and I don't have time to talk about this now, the resolution of the banking problem. Both of them had fixed exchange rate, by the way. Both of them have the speculation against exchange rate. Both of them were small open economies, because I mean, there's an oxymoron if you're gonna talk about exchange rate and you have all kinds of restrictions to the capital market then. I mean, if you are a small open economy with a fixed exchange rate, I mean, we learned the first day in the first macro class that you were not supposed to do anything with the monetary policy. I'm just making an extreme comment. So, but these countries did that and then they had the attack, the speculative attack and you see the result. What was important is the resolution. In Chile, after a 15% drop in output, after four years after that, 1985, the whole financial system was healthy. We should talk about what happened there in terms of the way you use the market, the way that you provide some relief to the lenders and the borrowers, but relief in the short term doesn't mean forgiveness in the long run. We can talk about that in one second. Just two more slides, please. So basically, I think that, and I'm gonna try to connect this to what yesterday Basel was saying in his plenary talk when we started this conference. I believe that at the end, standard economics explains well how the crisis unfolds, the incubation of the crisis and the crisis itself. We have learned a lot about that, about bad shocks and about macro policy mistakes. We know also that there was a lot of risk exposed. And we also understand the recoveries. But what we don't understand very well is why countries like Chile, Mexico, the US and the Nordic countries have in common the fact that they exempt, expose, end up accepting so much risk. That's something that we don't understand. There are people like Schleifer that claim that, and this is why I was talking to Basel, about Basel, the thing that the only way to do this is to incorporate other social sciences like psychology and try to understand what happens in our brain. I think it's beautiful when you compare again, a country like Chile and say Denmark and Finland, they're so different, so different.  Now, if you don't like to bring the psychologists here, we can think as a traditional economist and bring all problems with imperfections like agency problems or political economy problems. And I think we need to talk about these issues in order to try to understand what the policy lessons are. One more slide and we finish. We talked yesterday night when we were having the beautiful party about this. So, and he mentioned that separate today. There is a fifth Nordic country which is Iceland and there are some interesting things to learn about Iceland, especially since Iceland is so small and is exotic. And I finish in one second. And the fact that at least exposed you realize that no matter how important macro is, no matter how important to understand shocks is, at the end, I believe that even though it's not sufficient, a clearly, clearly necessary condition has to do with a strong and strict financial supervisory authority with a strict prudential regulation. That's something that you cannot forget. Let me finish, you see, my last slide. Just as I said before, so that we can maybe talk a little before they're about the things during the next few minutes when you ask your questions. I believe that we do understand the key precondition, the strict prudential supervision. I think it's important to talk about the market, you mentioned that, recoveries are important, but at the end, I believe, and I could be wrong, I just want to try to motivate a discussion that given that these so different countries face the same problem exposed that has to do with this excessive risk-taking, if we really want to face this, we need to consider seriously to accept the trade-off of losing part of the contribution of these financial institutions in growth and making them simpler. I don't see another way until somebody teach me something different. I believe that we need to move, and this is my final comment, after we learn what happened in countries like the Nordic countries and the Latin American countries in terms of facing the same challenges, we need to move in the direction of accepting a second best, which is to have simple financial institutions to force them not to take the risk that they typically end up taking every 10 or 15 years. Thank you very much.


QuickBooks Online 2024, Rental Income Estimate and Customer Deposit. Get ready and some coffee because the accounting team is on hand with QuickBooks Online 2024. Here we are in our Get Great Guitars 2024 QuickBooks Online sample company file we set up in a prior presentation, opening up the major financial statement reports the way we do every time reports on the left. In the Favorites, we're going to be right clicking on that balance sheet so we can open it in a new tab. Right click the profit and loss, the P&L open link in a new tab. Same with the trustee trial balance. Let's go to those tabs up top and let's close the hamburger. Change the range. We're going for 01, 01, 2, 4, 02, 28, 2, 4. First two months of 2024, dropping it down so we can do a month-by-month side-by-side run that report. Next, tapping to the right same process. Hamburger, close it, change range. First, a word from our sponsor. Yeah, actually we're sponsoring ourselves on this one because apparently the merchandisers, they don't want to be seen with us.  Like our Accounting Rocks product line. If you're not crunching cords using Excel, you're doing it wrong. A must-have product because the fact as everyone knows of accounting being one of the highest forms of artistic expression means accountants have a requirement, the obligation, a duty to share the tools necessary to properly channel the creative muse. And the muse, she rarely speaks more clearly than through the beautiful symmetry of spreadsheets. So get the shirt because the creative muse, she could use a new pair of shoes. If you would like a commercial free experience, consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com. 010124Tab, 022824Tab, dropping down so we can go month-by-month side-by-side, run it to refresh it, tap it to the right, close that third hamburger. It's a hamburger hat trick. Scroll it up. We're going to arrange change going from 010124Tab, 022824Tab, and then we're going to select the drop-downs say month-by-month side-by-side, run it once again. Let's go back to the balance sheet discussing our process here. We started a new revenue source of income in the business. We originally were selling guitars and then we added the guitar lessons to what we're going to do as well. But then the neighborhood went to crap and we had to put stuff on the doors so people don't break in and steal our stuff and bars and everything. And our beautiful shop got kind of unglified so people don't come in as much and they don't look like the guitar lessons possibly as much. But we still have all these guitars. So then we're like, maybe we'll do rental guitars. We'll just rent out the guitars and we can have another revenue stream that way as well. And this will be similar to possibly other rental activities such as like renting property, for example, in which case you might collect a security deposit upfront. So now we are once again going to get paid before we actually do the work. So you will recall I won't go through the whole thing again, but quick look at the flow chart. This is a desktop flow chart even though we're in the online system because we're just looking at the flow of the forms. And normally in the revenue cycle, we would expect at some point usually at the end of the process to have money come in for goods and services that we provide. The flow usually goes this way with the arrows. But sometimes it might go the other way such as our case here where we're going to say when someone calls in, we will make an estimate. And then we want to collect money upfront before the actual rental property takes place so that we can lock them in to actually commit to renting the stuff. Otherwise we'll rent it to someone else or possibly sell it if we can in the meantime. And then when they come in, we will finish the transaction and record the sale. And at that time, you'd probably still want a security deposit as well until they return the merchandise. But we're just going to go with the scenario we have now with the estimate. So we've set up the items. We've already set up the items to do this because we're imagining someone's going to call in and they're going to request band equipment so they can piss off their neighbors.  And we're like, that's what we do here. And so we're going to make an estimate. But we want the guy that's working in the shop who basically sleeps under the counter until, you know, someone calls. It's like that, you know, so any case we're going to have. And so when they call, we want that person to be able to fill out the estimate as easily as possible. So we set up our items. It's similar to someone was going to bring him the guitars in the shop, right? The person at the front of the register doesn't know much about the accounting behind the scenes. But they can ring up the product pretty good. Even you can ring up the product these days, right? And the self-checkouts and anything. And I ring up stuff at the grocery stores. I don't know what's going on. I just scan the thing and then I scan my card and then I leave. And that's any case. So if we go to the first tab and we go, what we did is we set up in the sales area and the products and the services. I closed the hamburger. We set up our rental items and we put them in their custom category here. And we said that this is what we tell our person that works at the shop. We've got the new revenue stream. And if they want to rent something, they have to rent the entire band set. They can't rent like one guitar because that's not worth our time. It'll still cost them for the entire band set. And then if they want to add to it, they can add other rental items on top of that if they want to up the quality of their rental. So we have this baseline amount and then they can add more. And the guy that sleeps under the counter and occasionally rings stuff up is like, okay, I totally got that. It's easy. That's easy. I can do that. And so we're like, okay. So then we're going to we're going to imagine someone calls in. So we're going to hit the drop down. Someone calls in and they want rental property. The guy wakes up from under the counter and is like, oh, dude, are we being shot again? Is someone looting my store again in California? I'd call the cops, but they don't care. But whatever. I'll just know it's someone wants banned equipment. So we're like, okay, let's go to the estimate over here and we're going to say that it's going to be a new customer. And so then we're going to say, we're just going to make a generic customer number five, adding a new customer. We're just going to say this is going to be customer number five. Once again, with the genericness. And we're going to go, okay. And then this happens on oh, two, let's say 2724 and expiration date. I'm not going to put one tags. We don't have any tags.  And he's like, wait, you have to have wait before you start. You want a couple, but you have to have the basic band set. So let me tell you what that has. And we can go from there. So the basic band set has two guitars, a drum set and a base and an amp. And it's $2,000, we're going to say for the weekend or anything. And there's no sales tax on it because it's a service item. Is that what you want?  So we want an extra, an extra guitar or a couple extra guitars. So we'll say more guitars. Oh dude, I totally get it. The guy says from behind the counters, like I will, we have added guitars, but they cost more. So we're going to put on two of these guitars. That's another $50, dude. And then, and then they also want an added amplifier. Oh, totally. I would have put that in the base package if it was for me, but they don't listen to me here. I just sleep under the counter. So we're going to say, okay, add an amplifier. That's totally worth it, man. Four amplifiers. Yeah. Yeah. Can I come to the party? That sounds good. All right. So here's going to be our estimate. Now we're at 2002 60. So, so now when we record the estimate, it's not going to record anything. That's going to be an internal document, but we can use the estimate to then try to calculate how much of a down payment we want, which we might have a general system of saying, well, you got to get a 10% down payment or a 20% down payment or something like that. So the dude, the guy on the phone is like, it costs 2002 60. And you're going to come in next Saturday. But just to make sure that like you do come in because we have other people that totally want our rental stuff too. We would like a down payment. And then we can give them the down payment amount. So let's go ahead and save this. If we were going to send it, we could send it here, but I'm just going to save and close it. So that hasn't recorded anything. Thus far, if I go into the sales area and the all sales, we can look at the estimates now. So I can look at the estimate. And so there's our customer five estimate. And then if I go into the customer information, we can also look at the estimates here and we see customer five has our estimate. So the estimate is up and running. It's currently in the status of pending. So now we're going to, we're going to say that they accept it. So we're going to change it from pending now, which we can do by selecting it. And then I'm going to say the more actions drop down. And I'm going to say that now it has been accepted. So we're going to mark it as accepted. And so we could put by and the date, but I'm just going to keep it at that. We're going to say, okay. And the next thing we could do then is convert it to an invoice. We'll do that not yet though, because we're going to do that once the, once the actual transaction takes place. So now we're going to be saying that we need a down payment. So we're going to imagine the down payment. Here's where we get paid before we do the work because we haven't actually provided the rental yet. Therefore, if I hit the drop down, we can't really enter an invoice because that would record revenue and we haven't gotten the revenue yet. And we can't record the normal sales receipt because again, that would be recording revenue. So the method that we're going to use is, and we did these two methods for a prepayment in a prior presentation. And I've made the argument from an internal standpoint. I think QuickBooks works quite well with the receive payment method, which will usually decrease and it will decrease accounts receivable, but it's usually tied to an invoice. Now we have no invoice to tie it to, which means it'll create a negative receivable or credit balance for this customer, which isn't exactly right from a financial statement perspective, but it works quite well from an internal bookkeeping perspective and we can do adjusting entries at the end of the period to properly adjust it if we need to for external reporting purposes, although we might not need to if we're just doing a sole proprietor tax return because the income statement will be properly recorded. All right, so let's go to the receive payment and say, okay, we got to get a down payment. So now we're going to say this is going to be for customer number five. And we're going to say it says, customer five's payment doesn't have an open invoice. There's no invoice to tie to down here. So we'll save this payment as a credit to your customer since you don't have any open invoices. If you want to record this payment without an invoice, use the sales receipt. So that's perfect. That's what we wanted to do. We wanted to make a credit for us that we can then apply to. So I'm going to say this is as of 022827, let's say 24 payment method. I'm just going to say cash. And we're going to put it once again into the payment to deposit instead of into the checking account directly. And I'm going to say it's for $200. That's just our normal process. So now what's this going to do? It's a receipt payment form that decreases accounts receivable, usually decreases and ties out to a specific invoice this time. No, but still decreases accounts receivable resulting in a negative or credit balance for the sub ledger account by customer for customer number five. The other side's going to go into a cash account in our case, the payments to deposit. Let's save it and close it and check it out. So it says you didn't select an invoice. We'll save this payment as a credit. That's great. That's what we want you to do. QuickBooks do that. You do that. And so then if I go to the tab to the right and I run it. So now we're going to say that if I go into the deposit, we have our deposit there $200.  What is what does that have to say? I don't know. That's from a movie. It just sounds cool.  The transaction is okay. So we're going into the accounts receivable and here as well, there's our payment. So that looks good movie B to the end. Let's go back. We can also see the sub ledger. So if I go to the tab to the right, right click on it. And I'm going to duplicate of that tab so that we can see a sub ledger report, which we will create by going to the reports on the left, hamburger, close it, scrolling down. We see who owes you money. We want the classic sub ledger of customer balance detail. Opening that and range is good. So we have customer number five. There it is. Notice it has a negative balance in it. That's not exactly proper because that would mean that we owe them money, which we do, or we owe them the service, which we will do. And so it should be a positive liability, not a negative receivable. However, the sub ledger works great from an internal perspective because this sub ledger is tied to the customers. And so it worked good from a bookkeeping perspective. Again, if that was outstanding at the end of the year and I needed to adjust it, possibly not for taxes for a small Schedule C, but for external reporting, then we can simply do an adjusting entry at that time and fix it. So that's going to be the idea. Internally, by the way, the total AR then, 21, 9, 76, 50 is positive. If I go to the balance sheet, but the dates are wrong. Wait a second. What is happening? 21, 9, 76, 50 over here 21. Yeah, that's right. I don't know what I did. I got messed up. I'll go to the tab to the left. And then if we look at this internally, we can now see that we have the estimate is now in place. It's been accepted. So that is great. And if I click on it, we can see the process here. And then we also have the payment. So if it was another person that came in, we have two people that sleep under the counter and occasionally ring stuff up or watch people as they loot our store because they can't do anything because we don't want to get sued or anything. So if the other guy is in there, even he could look at this and be like, oh, dude, I see what my friend did the other day. So yeah, what he did is he made an estimate for this one. And then he took a deposit, a payment. And you currently have a credit balance, Mr. Customer 5. So that could be applied to the rental that you're going to have once you actually do the rental process. However, we will pick up that part of the story next time. For now, what we want to do is just make the deposit. So I'm going to go to the balance sheet. And recall that we have that $200 in payments to deposit. Let's say that's the only money we got by the end of the night. And so we're just going to transfer it from the payments to deposit into the checking account because we're taking that to the bank. We're getting our armed escort to go a block down, go a block away and then we're going to take that to the bank to safeguard it in the vault. So we're going to go, OK, let's go to the first tab and then hit the drop down on the plus button. And we're going to use the good old deposit form. And we're saying we're going to take our $200 to the bank and we're going to put it 227. So that looks good. And OK, and then here's the deposit. We don't have to combine it with anything else. But of course, if we had other sales at that same time, then we would want to combine the sales with the other cash sales so that we deposit them at one time so that we can make the bank reconciliation as easy as possible. And that's the process. If it was a credit card, you would do the same thing. We would group the cash together, deposit it together, and then group the credit card payments according to the different financial institutions and the way they expect to put it into our bank account, which might include us having to make bank service fees that would reduce the amount possibly like say $5 because maybe they're going to take $5 out for the fee and it's going to actually hit our bank account at $195 instead of $200. So if that was the case in the case of a credit card, you have to figure out how you're going to do that. Otherwise, you're going to end up with a mess as the bank feeds come in and you can't tie it out to the deposits because you put the deposits in a different order and didn't record the fees because the credit card company is doing something crazy and you've got to work what we've got to do that. So what's this going to do? It's going to increase the checking account. The other side is going to be decreasing the undeposited funds. Let's save it. Let's close it and let's check it out. Let's go to that balance sheet and we're going to go into run it. Fairly impressive. It's been working on as balance sheet skills. So we're going to say that wait, not in accounts receivable. We know that the checking account then went up. So $200 on the checking account. The other side in the payments to deposit back down to zero. So we see it going in and out. That looks good. Let's go to our trustee trial balance now and just see where we stand and we'll continue the story next time. So we're going to run the trustee TB and this is where we are at. If you're following along, if your numbers tie out, great. If not, try changing the date range. Let's see if it's a date issue. We got the balance sheet on top of the income statement starting with the assets. These are all assets. Checking account accounts receivable inventory investments payment to deposit prepaid insurance accumulated depreciation contra asset tied intimately part of was broken out from the furniture and equipment or property planting equipment. That's what the company owns in dollars, not units. And the flip side of that coin is who has claimed to those assets or at least the value of those assets. Third party liabilities including accounts payable, the Visa company, the bank in other words, the government for sales tax, the bank because we took out a loan from them, the government for payroll taxes, unearned revenue if we had any unearned revenue that we haven't earned yet. And then we have our claim to our assets of the business in the owner investments similar to the corporate stock if it was a corporation and owner's equity similar to retained earnings if a corporation and then the entire income statement part of equity, which are credit, which are sales or revenue minus the debits, which are expenses, which would result in a net credit balance if we had income and not a loss, which is part of in essence equity and would roll into therefore the owner's equity or the retained earnings if was a corporation and we can see that by just bringing it up one year, QuickBooks does it automatically, 010125, 010125 on a year by year, not a month by month basis and you can see it rolls it right into that equity similar to retained earnings. That amount there, owner's equity like retained earnings representing the income over the life of the business, which has not yet been distributed out in the form of draws if it was a partnership or the form of dividends if it were a corporation.


Hello friends, let's solve the following question. It says, in how many ways can one select a cricket team of 11 from 17 players in which only 5 players can ball? If each cricket team of 11 must include exactly 4 ballers. Let us understand the key idea behind this question. R objects from N objects can be selected in NCR ways. And we should also know the fundamental principle of counting which says that event A occurs in N ways, event B occurs in N ways, then event A and B occur in M into N ways. This knowledge will work as key idea behind this question. Let us now move on to the solution. If total players are 17, number of ballers are 5 and the number of other players is equal to 17 minus 5 that is 12. Now we have to select a team of 11 players which consists of 4 ballers and 7 other players. The number of ways to select 4 ballers from 5 ballers is equal to 5 C4. This is by theory of combination. Let's discuss the key idea. Similarly, number of ways to select 7 other players is equal to 12 C7. Now the total number of ways to select 11 players in which exactly 4 are ballers is equal to the number of ways to select 4 ballers from 5 ballers that is 5 C4 into number of ways to select 7 other players from 12 other players. This is by the fundamental principle of counting as we discussed in the key idea is equal to 5 factorial upon 4 factorial into 1 factorial into 12 factorial upon 7 factorial into 5 factorial. 5 factorial gets cancelled with 5 factorial and we have 12 factorial can be written as 12 into 11 into 10 into 9 into 8 into 7 factorial upon 7 factorial into 4 factorial and 4 factorial can be written as 4 into 3 into 2 into 1. Now 7 factorial gets cancelled with 7 factorial 2 3 is 12 and it gets cancelled with 12 and now this is equal to 11 into 5 into 9 into 8 and it is equal to 3960. Hence the total number of ways to select 11 players in which there are exactly 4 ballers is 3960. Complete the question. Hope you enjoyed this session. Goodbye and take care.


One challenge that patients encounter when they get a cancer diagnosis is to have hope that there are treatments that can help them. That's why radiotherapy is so essential for this hope. Cancer in Africa is like an epidemic. In a country like Senegal, we are expecting more than 12,000 new cases every year of cancer. Around half of all cancer patients need radiotherapy, but in low-income countries, only 10% of people can get access to this life-saving treatment. Africa is particularly affected, with over 20 countries having no radiotherapy capacity at all. All decision makers know that they need to do any thought to get new facilities and getting new facilities will lead to save lives, definitely. This disparity in radiotherapy access is clearly visible in global mortality rates. For example, for both cervical cancer and childhood cancer, survival in high-income countries is 70%. While in Africa, it is less than 30%. Gambia is one of the country's lacking radiotherapy, so when Alpha Ba was diagnosed with cancer of the throat, he had to travel to neighboring Senegal for treatment. The international atomic energy agency is the world's nuclear body, with significant expertise in the safe and effective use of radiation medicine. The IAEA has been working to help countries all over the world improve access to radiotherapy for over six decades, supporting research, arranging training, offering procurement help, and providing guidance on international safety standards. It has already helped dozens of countries establish or upgrade facilities, saving countless lives. Just one example is Tanzania, where, until recently, treatment options were limited for many cancer patients. But 10 years of focused support and investment from the government, the IAEA, and its partners has made a considerable difference. These patients that would cost a lot of money to send abroad for treatment, now they are actually being treated within the country, and I think we are able to give patients more hope. But a lot remains to be done to provide cancer care for all in low-income countries. Raise of Hope is the IAEA's new initiative to significantly scale this effort up around the world. The Director-General of the IAEA recently visited Senegal to discuss ways to drive this effort forward. We are very happy to be here at the Dalal Jam Hospital, a very impressive facility. The IAEA has already been supporting this facility, and we have announced today that we are going to be increasing that level of support. The work that is being carried out here is essential and will be an essential part of our new initiative, Raise of Hope, because the work indeed continues. Raise of Hope will work by focusing support on countries that have little or no access to radiotherapy at the moment. The initiative will provide donors with clear packages for investment in radiation medicine. This will help countries get the machines they need. The IAEA will also provide the necessary expertise to ensure new facilities can continue running safely and securely into the future. We're looking at sustainability and making sure that as a member state embarks on their first radiotherapy center or expands, that they understand the long-term cost implications. So the packages that have been developed by the agency not only look at those upfront costs of infrastructure, procurement and training, but also look at equipment maintenance and the long-term staffing costs so that the center that opens will still be viable and sustainable down the road. Raise of Hope will help established hospitals become regional anchor centers so they can provide high quality training and technical support to their neighbouring countries. It will also focus research on finding the optimal amount of radiation needed to treat different tumours. To get the most out of the machines available. The research and innovation in Raise of Hope is extremely important as well because for example with some research we can find efficiencies so that we can treat more people with less. The impact of the IAEA support is very important because at this time they are giving fellowships for training staff. They are also giving equipment, but more than equipment and training, the most important thing is advocacy. The IAEA is calling for action on increased access to radiation medicine together with Senegalese President Maki Sao, the 2022 head of the African Union. We believe that together we can do something important to deal with the current cancer crisis in Africa and elsewhere. It is on us to do it and we will do it.