With fresh fang earnings should you stay in the group or take some profits Brad McMillan from Commonwealth Financial Network? We had strong earnings from the f and fang Facebook. What do you think? I? Think right now Facebook is still on a growth spurt. You're looking investors are looking for growth This is one of the few areas that are proving to be a good place to be I think there may be some more upside, but there was commentary though about how the company was running out of room on On the news feed for ads. I mean is that worrisome? I mean does it make you question the growth because with you know two billion users you have to start to wonder? Well, I think the question is not so much the number of users Okay, they're probably running out of head room there But the question is have they reached the limit of their ability to monetize those users and I don't think that's necessarily the case I think they're gonna have to be more effective. I think they're gonna have to be smarter They may have to charge more but running out of users doesn't actually mean that they're Unable to keep moving on their earnings. It just means they got to be a little bit smarter about it so far That's been a pretty good bet and Brad. Do you like fang better than the broader tech sector or the other way around? Generally speaking, I don't investors are looking for growth and certainly the fang stocks are The place to be for growth, but they're paying full price and even more for that. I mean you look at the valuations That's concerning. It's a momentum play at this point It's not a fundamental play and at some point that's gonna change. So you need to be maybe a little bit more selective about your tech sector plays Is that right? I think it's important to make sure you allocate appropriately In other words, don't just focus on the high fliers because they're not always going to be there So take some of your profits reallocate into other more appropriately valued names But at the same time that doesn't mean that the fang stocks are gonna come crashing down It just means you want to be smart about how you play it. Where are those appropriately valued names within the tech sector? I mean, what kind of areas are we talking about? Well, you're starting to see some more focus on hardware You're starting to see some more focus on service companies kind of business infrastructure as Businesses around the economy need to get more efficient They need to start paying attention to upgrading their tech infrastructure Right now the companies that are doing well are more consumer-facing the fang stocks are all consumer-facing Let's start looking at the business-facing companies in that sector. All right, Brad McGillen. We'll leave it there. Thanks so much for joining us Thank you, Scott


Grand just tweeted that any datamined stuff is probably wrong now.  Oh shoot guys. Did we forget to encrypt it again? Oh No, I mean this is fair right some of it is is likely fake right especially like stuff That's like flipping later phases right could easily be diff like it looks like the stuff the priest isn't even in yet It hasn't been mined yet like there isn't even anything else on pants and helm. Yeah, which is just weird You guys fake it's fine crisis averted. We're still going for it. I don't care I mean, let's be honest at least gives us some guidance about what they're thinking what they're planning I'm sure there's some of it is probably not true. They're probably some numbers numbers of subjects to change but like The fact that it's like on here at all means that there It's in their brain. You know starting off with warrior. We've got blood surge really know about this. We read this already basically Fight present chance when you use rage I think this will probably work on quick strike quick strike as well you get a slam It's incident costs no rage So nice burst burst ruin it because obviously if you're dumping rage on something like wallwind or heroic strike And you get even more burst available slam That's kind of nice for feel like bursting people like priests then for example, this is pretty good This is just gonna be all abilities cost three less rage, which I don't know than the maths on it But this might end up actually being more damage than this, you know, and then slam is now instant But as a six single then so it's just gonna be potentially like some sort of slam rage dump build Maybe PvE. I don't know in rage region. So warrior can heal for 30% max HP Wonder what the cool then is only be used while in rage Zercher rage or blood rage is active usable while stunned Intervene we knew intervene was coming from the war bringer rune. So yeah, again, don't know what the cool It's gonna be it's an interesting one.  Yeah, but someone bans an Ostra real quick Picking up UA. We don't like that. We don't do that here.  I wonder if it's gonna stack with the fortitude. Who knows Rampage Wario goes on a rampage increasing tap by by 2% and causing most successful melee attacks to increase attack by By an additional 2% stacking up to five times to 10% AP this can this ability can only be used after scoring critical here That's so random. What is UA unstable affliction sword and board when you're devastating revenge abilities deal damage You have a 30% chance of refresh and cool down your shield some ability and reduces rage by 100% So this is like a prop tank thing, but it looks a bit.  Now we're onto helm runes. These are mostly not gonna be in the next phase, but a date of mine, so Probably subject to change or something that is testing out according to aggrande who I think is Going for the hard cap, but uh, you never know increases all physical damage by 10% When you have a shield equipped and reduces the duration of disarm effects by 50% dude I swear they're trying to make prop worries a thing in PvP. What is this?  At least they didn't get like a billion stuns.  They're gonna be running this shit In fact, they're probably not they're probably really tanking with a two-hander So it's gonna be this shit belt and boots for phase two is is yeah, it's what we know in the moment Enlightened judgments Increases range on your judgment spells by 30 as they really want shock it into be a thing by the way Like if you look at these ruins, there's so many things that are like chocked in judgments They are drains and hit 17% so this works on like raid bosses, right your judgments You just don't need to stack here and you can judge a raid boss, which is interesting that it doesn't also include holy shock engrave your belt with Infusion of light.  Woof the cat the classic holy shock into holy shock combo. Love it chief of light Dealing damage from melee weapons increases your spell power by a mount equal to 30% of your attack power for one minute In addition your critical healing spells heal the target for 60% of the dude There's so much crit stuff for holy powers now gonna be a pain in the ass man They're actually gonna be lotto class again as well guarded by light each time you hit target with a melee weapon You give 5% max mana, but the man healed by your flash of light holy line Holy shock spells are reduced by 50% during I wonder if you can click it off and then this is bad They shouldn't have this this is terrible terrible terrible terrible each time the target takes damage They gain a sacred shield absorbing 500 damage increase in paladins chance to quickly heal Hit with flash of light by 50% for up to 6 seconds in addition causes your flash of light to heal targets with sacred shield Over 12 seconds, so you're gonna crit you get you take you imagine you take Infusion of light right no which one was it this one sheath of light.     You just ballin in with melee crits like run the holy shock thing while you're at it, right? Bang out some holy shot crits as well.    There's not in yet, right? We're okay. We're just passed boots.  What cool, and bros reset every single global anyway, Holy Wrath can now be cast Any Target and Will Stun Ingredinted Demons? I mean okay engrave your braces with Purifying Power Room reduces the cool down on an Exorcism Scheme thing I Just read this. What is what is happening in my brain? Oh?  Okay, that's fine Holy lights spell reduces the cast time of your next holy light by 0.5 set cast wait What is the custom of holy light?  How does everything have a million crit on it?    I'm calm. I'm calm check.  What? 40% of your current agility.  You know what you don't even need any other means you got this a good hunter That's all he needs. They don't need anything else.  I don't want to read it In grave your belt with melee specialist ruin raptor strike cool down reduced to three seconds and is now instant Mongoose by its bite cool down removed raptor strike as a 30% chance on each attack to not trigger its cool What is this RNG dude? Steady shot steady shot the cause of 60% weapon damage nice and simple if this was paladin It'd be like a steady shot that causes 60% ranged weapon damage and increases your crit by 20% and if you crit then it gives you an extra steady shot for Free that is instant grave your boots with dual wield speck rune This is damaged done by offhand weapon by 50% causes your raptor strike to you strike with both weapons when you're dual wielding and wrap strike Duals 30% increased damage when you're dual whipping two weapons of the same type grave your boots with the invigoration rune Your pets cause a critical hit with a special ability you instantly regenerate 5% of your maximum manner She trap low and show your traps gonna be placed at any Location within 40 yards that could be placed while you're in combat Additionally your fire based and frost based traps separate cool and as I swear man I swear survival is gonna be so good focus fire Consumes all applications of frenzy from your pet increasing your range attack speed by 3% and granting for focus to your pet It's application of frenzy consumed I mean this is gonna be like you need to track that shit man Your pet gains frenzy each time it uses a basic attack increasing its melee attack speed by 6% for 10 seconds TNT increases damage done by explosive shot damaging trap with it rogue Engrave your belt with the poisoned knife rune instantly throw your offhand weapon to deal normal offhand weapon damage With a hundred percent chance to apply the poison from your offhand Weapon to the target awards won't go. This is a range ship poison I benefit from all talents and effects of trigger or Modifications to strike.    I mean do they even need it? They have the why bother with this? You can just it makes no sense Why would you ever run this we could just run step? Oh, man. I need a gap closer or you could just step Sure can toss pve a re damage master of sub extra damage 10% extra damage after you open for six seconds We've got waylay on ambush and backstab for the slow increasing time between their melee attack by 10% in reducing movements We buy 50% so this is gonna be a physical slow nothing else on boots yet interesting combat potency You gain 20% chance to gain 15 energy each time you deal melee damage with your offhand weapon Focus attacks in two energy every time you deal a melee. I mean, it's just energy regenerate on or on the thieves when player or Pie in your pie quickly hits with the spell or ability you get a combo point in the current target Effect cannot occur more than once every second. I swear.   So, yeah, I mean road for a shadow step Waylay is pretty good master of subs pretty good. They need more. They get their stuns. I think rogues fine powder Okay, it's a priest dude. I'm not looking forward to facing holy powers next patch. I'm not looking forward to it It's gonna be horrible. I might even reroll alliance man.  Okay empowered renew your renew now heals one extra time immediately when applied and gains 15% increased benefit each time it heals from your folk your bonus healing effects So this is the the coefficient, right? Or is it just flag extra 15% extra? No 15% increased benefit each time It heals from your bonus healing effects. So it's 15% more like point one point five From bonus evening. Okay. In addition, your renew will renew can be active on targets affected by another priest's priests renew That's cool. That's this isn't this is nice. I don't hate this mine spike is kind of air Basically, it's like a spammable mine blasts. Don't know if it's got a cast time or not And it also increases the damage that the crit of your next mine blast by 30% but it stacks three times But the problem is my blast is not that good. So but yeah, I mean shadow doesn't really need this I would say renewed hope engrave your belts with the renewed hope ruin your heels from flash here Let's heal heal great healing penance. Nice that they've included penance on it I have 10% increased critical effect when cast on targets with weak and soul wait critical effect chance That's so weirdly worded because I thought it was critical effect It's critical effect chance. So it's just more 10% more crit 10% versus 18% Yeah, and this is like conditional on the fact that it's already got weak and soul as well engrave your boots with dispersion You just present pure shadow energy reducing damage taken by 90% so good You're unable to attack or cast spells, but you regenerate 6% mana every one seconds for six seconds Dispersion can be cast while stunned feared silence and clears all snares movement pairing effects one cast It makes you immune to them while dispersed very nice standard dispersion Then we also got on physical pain suppression Instantly reduces all damage taken by a friendly target by 40% and increases the resistance to dispel mechanics by 60% So you're gonna have approximately 75% dispel resistance with this up due to the inherent hidden 10% dispel resistance in the game that shouldn't exist in the game Rolling with the punches. I believe is just not a priest thing. I'm not sure why it's here. It's rogue Yeah, you can PS yourself, of course. This is probably the worst one. I've seen I have every single rune so far This is super super bad for the game.   I hope that you can't use things like the spell in this form This is this is super toxic. This is really Really don't want to see that despair.   We have nothing to really increase our crit So it's like the best thing we have is the Renewed hope for the extra 10% on we can solve but putting things like this is really sad because offensively You're not really gonna be critting that much. So, you know, it's my priest is kind of nice But yeah, the oh, I'm I wonder if the this works when you're just like playing disc, right? And you can just dot people up with like pain and void plague and then if you get crits on them Then it proc surge of light. Maybe it could be cool gives you an instance might sadly You're still gonna be suspect subject to going umul the time because they didn't include the part of this That makes the spell free. So that's kind of an important distinction The fact that it's an instant, but it's not free is a big deal and for me it should be free void zone It looks like a PvE thing you depends how big it's gonna be though If you can stand in this and make that melee have to go off you this is absolutely insane, right? If you can't then it's basically useless in PvP and it's a PvE AoE mechanic where yeah Some of the boys own the duals big formula shadow damage to enemies that stand within it every second for 10 seconds Divine ages standard divine ages. I wonder if it'll be dispellable interesting to see in this version Yeah, so crit heals that you don't have any crit for because you're not a paladin with them at random 18% rune to give you more crit or 50% for no fucking reason from sacred creep shield Provide a protective shield on the target absorbing 80 30% of the amount healed last 12 seconds And then shadow fiend on the pants. We only seen one pants thing I read shadow fiend was a book not a rune in another place. I doubt very much doubt But yeah, feel free to link the post creates a shadowy fiend to attack the target caster receives 5% manual and shadow fiend attacks In great belt fine over your fine over totem spell is replaced with fine over Which causes your current fire totem to emit damage at its location. That's kind of spicy In grave your belt with male strong weapon when you deal damage of a melee attack You have a chance to reduce the cast time of next lightning bolt chain lightning lesser healing wave healing wave chain Lightning or lava bus by 20% stacks up to five times last 30 seconds. This is kind of nice I like this you can purge this.  Did you see the shit?  They're gonna be one showing everything.      They didn't get ripped I that's a big deal and graveyard boots with a decoy term room deco term We'll redirect the next melee or range attack made against the target to the tome instead So it's just grounding for melee the target the tome also grants the target immunity to movement and parrying effects for 10 seconds What if you kill it? It's like a 10 second freedom summons a decoy tome for 10 seconds five half feet Target that will redirect the next melee. So it's like an intervene and a freedom What if you kill the totem does the freedom go away?  It's interesting. The alpha increases infuses the target With the spirit of the alpha wolf increasing threat generated by 45% So just right just fury but targetable grave your chest or robe with the 200 master each time you strike an enemy of 200 Weapon you gain 30% attack speed With 200 weapon for 10 seconds the tome dies before you even see it. So it's just a 10 second freedom. Is it dispellable?  I want freedom. Give me freedom.  Freedom's gross, man Frostfire bolt. It's gonna say are they getting brain freeze?  The spell will be checked against the lower Resist, okay hot streak anytime you score two non-periodic spell criticals in a row using fireball Fire blast scorch living bomb your next pyroblast spell will cast within 10 seconds will be instant yikes Missile barrage gives arcane blast a 40% chance and your fireball or and frostbolt spells a 20% chance to reduce the channel duration Your next arcane missile spell by 50% and reduce the mana cost by 100% Missiles will fire every 0.5. So this is like standard missile barrage. It's gonna be pretty pumpy Spell frostbolt. Dude, how many different bolts are they getting?  I can't even imagine all these bolts launches both spell frost at the enemy Spell frost damage slowing movement speed by 40% for nine seconds. Isn't it just isn't that just frostfire bolt? It's literally the same numbers. I feel like this doesn't exist.  Right here Cost no mana.  Like why is it on proc instead of on crit?  Heals a friendly target for a bunch uses arcane fire and frost magic to freeze Chrono energy into a stored state for later use you can hold this energy for up to 15 seconds before it combusts and expires When unleashed heals a friendly target for a bunch Spell is considered arcane fire and frost for talents bail fireball. Oh, I'll get another bolt What was this unleash a reality distorting burst of raw magic at your enemy dealing a bunch of damage Each time you cast bell fireball The damage of your next bell fireball within 30 seconds will be increased by 10 and your spirit will be decreased by 10 30 seconds both stacking up to 10 times Your spirit reaches zero as a consequence.  So if you get to 10 stacks, you just die.    Yeah, I mean imagine so warlock And then we've got druid and that's it. Okay grimoire of city.  I mean, this is not all stuff the next phase wrong pride This is all stuff datamined Belt and boots is the new based flow was a glyph. Okay Immolation aura burns nearby enemies for damage every two seconds and reduces all magic damage taken by 10% until cancelled Wait, does this do damage to you as well? No, right in grave races with summon fel guard rune Fel guard benefits from all talents and effects that trigger from or benefit any of your other demon minions But what is it just buffing fel guard up like crazy or what the emulation aura just looks permanent No, just damage every two seconds and reduces magic damage. Why would you cancel it? Just to not break CC or what the lock runes all seem very like small Small passive stuff and then they have ua. I mean, that's all they need, right? At least they don't happen this phase We've got one more phase of gameplay Braces 300 all red spell guard. Your conflagability also grants 30 spell casting. Hey, yeah, this is pretty big pandemic Periodic damage from corruption. I mean, this is just like athlete right and this is that's true They both look good. I mean these these these three things save all everything else. Maybe the fel guard as well Emulation aura looks weird. Like why would you want to cancel it?  Just mind link Please can druids trinket fear so they have two breakers of fear basically. That's scary man. Druid looks scary eclipse We've already read about this, but yeah star fire increases crit chance of your next two rats by 30% Wrath increases crit chance of your next star fire by 30% I think this is I think wrath should reduce the cast time of your next star fire Not increase the crit star fire is an excellent clunk bot to try and cast Both effects stack up to four charges. Both spells also gain 70% We'll look at that in a minute. Uh nourish heals a friendly target for a bunch Heals for an additional 20% chance Heals for initial 20% if you have reduce regrowth life bloom or wild growth on the target spell benefits from and triggers Healing touch, so it's just like a flash heal, right the druids Uh dream state your damaging spell critical strikes grant you 50% of your mana regen while casting for eight seconds increases Nature damage dealt to the target by 20%. Okay This is like a boomy thing. I'm probably mostly for pve, but if you're rafting, I guess it's creating anything You're just gonna get good mana. What else have we got? Oh, this is rough dude. This is a rough choice Okay, tiger's fury now increases all biz damage by 15 instead of a flat value and instantly gives you 60 energy Is no longer on global cooldown and it's only 30 second cooldown So this is like an almost like a this or t every 30 seconds, right? Plus you get 15% dam This is really really good and then in survival instincts when activated this grants you 30% max health for 20 seconds After the effect expires the health is lost usable in any form in addition You regenerate five rage every time you dodge while in bear form 10 energy while in cat form Or 1% max mana while in other form. I mean This is kind of like negligible. This is like tanky boy stuff. This is okay. 10 energy while in cat form This is nice and it's like something like a rogue. I think but yeah, this is rough, right? This is like there's way to survive So they've got to choose how they've got to even choose to survive or be a big damn lord But I mean, this isn't I don't think this is as good as like when they get the damage reduction wall This is the max health wall. I personally would go for king of the jungle I think if I was playing furrow. Yeah, efflurants swift men now also cause efflorescence healing all party members within 15 yards of swift men's target location So it's just you swift men. There's an aoe heal great braces of frenzied region Your frenzied region can now be using all forms or while not shape shifted It now converts your active resource into health every second for 10 seconds up to 10 rage 10 energy or 5% base mana converted per Second up to 10 health I mean that's that's trash man. I swear up to 10 health. Is that it? That seems low man 10% health per second. I mean you don't want to use this in human form You want to be using this in anything that's not human for me at what? Yeah, it's gotta be 10% for tick right up to 10 rage 10 energy or 5% base mana So it's base mana right not total mana So base mana is the mana that your your class has without any items equipped or buffs So this is pretty nice in cat form right because you're just gonna have 100 energy Like why would you I mean why would you ever do it in bare form then you would just do it in cat form This is this is really nice actually or feral like feral just gets a full heal basically Okay, you lose your energy, but so nice gale wins increases the damage done by your hurricane by 100% It no longer has a cool then and it's mana cost to reduce by 20% Okay, so druids finally have an aoe congrats a gore striking a target with last race wipe and more It's a 50% chance to reset the cool down on mangle bear striking a target with mangle cat Or shred has a 5% chance to reset the cool end of tiger's fury They need to chill with the fucking feral stuff man.


Hello, I'm Cheyenne Abbott and welcome to Learn The Sword on TGN. This is a weekly show with a new episode every Friday, so just click below to view the whole program. The second basic concept is your stance. A stance is just a simple transfer of weight, positioning, and movement, which carries the sword into and out of the target area. First placement of your feet, and the positioning of your legs, hips, shoulders, and arms are key factors that allow you to set up for your next technique. Gait on, yaw, hip, left jaw down, yaw, hip, right jaw down, yaw, right hustle, left hustle, right waukey-nou-kamae. Left waukey-nou-kamae. Number three are the basic cuts of hapogiti. The purpose of a sword is the cut through mass, and there are many ways to cut, mind But you need to choose the correct patterns to be consistent and simple, yet effective and practical. Here are your eight basic cutting patterns. And the fourth basic concept is kata. Kata teaches everything from the basic footprint to all the subtleties of the sword. Every turn and move has a set technique or pattern. Forms are a very important factor in your learning process. Let's take what we've learned so far, put it all together, and see what interesting patterns we can practice. Let's begin in a hostile position and execute a short, medium, and long-range cut. When we execute these three cuts, we're also going to ki-ai. Just follow along and slowly your muscle memory will be set again, and there you'll start looking at the techniques and I'm starting to understand this. I see how this works now. Within this take, you'll see that I have different ki-ais. At the very beginning, when I'm not exerting that much energy, my ki-ais are low and brutal. Later, when I start becoming a little more fatigued, you'll notice that my ki-ais are also changing. I'm practicing your thousand strokes. I want you to note that you probably are going to fatigue. The muscles in your back and your neck, you're going to start to hurt, and you might feel the next day like it's a little painful. All you need to do are a few stretches to alleviate that problem. There are a couple I'd like to demonstrate. When practicing this first stretch, it'd be easier to sit down. What we're going to do is we're going to stretch the muscles between our shoulder blades and our neck.  After you've grabbed onto one of your shoulders, I want you to push out and pull. You're going to start feeling the stretching between your fingers as you're doing that. You're going to do a lot of tension.  Those two stretches will help your back stay limber and allow you to go onto the next thousand strikes without moving you into a challenging hip fest. There are many angles to cut when you use the sword. Let's keep this simple and work with the basic eight. The first one is a cut vertical from 12 o'clock to 6 o'clock. The second cut is a top right to a bottom left cut from 9 o'clock to 7 o'clock. The next cut is one that is called a gyaku, or reverse, where I'm cutting from 7 o'clock to 1 o'clock and coming back up. The third cut is cutting from 11 o'clock to 5 o'clock. And that one's reversed. Coming from 5 o'clock, back up to 11 o'clock. There are also horizontal cuts that cut from 9 o'clock to 3 o'clock. There are also stabs or fluffs. When you put all of these together, there are eight basic cuts that you can work with and keeps it simple. What I'd like you to do is follow over on either side and start working with those cuts. But it is very important to know after every cut, to hold it there for an extra beat or two to get no two into the cut. A lot of times when people start swinging a sword too fast, the cuts become all blurry and you don't know where one cut ends and one cut begins. So make sure instead of trying to go for a bot, go for the quality of the cut. And make sure they're all done at 100%. When practicing your thousand cuts over on the other side, after you've put in a fair amount of the repetition, your mind will start to wander. That's all viable and great. The difficult part is your technique becomes sloppy. Sloppy technique can get to the targeting time. What I'd like you to understand is you need to use the focal points. Staying consistent with these focal points. Allow your sword to cut straighter and more true. During this lesson plan, if you don't do 100 strikes a day, don't worry about it. You might have to stop with 100, 200, go to 500, and go to a thousand after you've finished a thousand. Then we'll start working out when we start hitting 2000 or 5000. Most cuts and strikes need to take about 20 minutes or so to complete a thousand. So use that in your guideline. Akiyai is very important. Akiyai keeps you from fatiguing. If you put in the ki-ai quickly, you'll be able to go to two to three thousand cuts. Within this take, you'll see that I have different ki-ais.  Later, when I start becoming a little bit more fatigued, you'll notice that my ki-ais are also changing. Help! Congratulations! You have just finished your thousand strokes for the day. If you have any questions, don't hesitate to contact me at LearnTheSword.com I am Sheehan Abbott, and I look forward to seeing you next Friday on TGN. Until our next lesson, be well. Thank you.


QuickBooks Online 2024. Adjusting entry accrued interest. Get ready and some coffee because we're getting the business on target with QuickBooks Online 2024. First a word from our sponsor.  Like our trust me I'm an accountant product line. Yeah it's paramount that you let people know that you're an accountant because apparently we're among the only ones equipped with the number crunching skills to answer society's current deep complex and nuanced questions. If you would like a commercial free experience consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com. Here we are in our Geek Great Guitars 2024 QuickBooks Online sample company file we set up in a prior presentation. Open the major financial statement reports as done every time the reports on the left. In the favorites we're going to right click on that balance sheet to open a link in a new tab. Right click on the P&L to open a link in a new tab same with the trustee trial balance. Let's tab to the right close up the hamburger and change the range up top going from a one oh one two four tab oh two twenty nine two four tab. We're going to put a month by month side by side and run it tab into the right closing up the hamburger and we're going to do it again on the range change oh one oh one two four tab oh two twenty nine two four tab month by month broken out running to refresh it one more time tab into the right closing the hand boogie changing the range oh one oh one two four tab oh two twenty nine two four tab we're going to select the month by month breakout run it to refresh it. Let's go back to the balance sheet last time we gave a general overview of the adjusting entry process typically done at the end of month or a year we're doing it at the end of February because we only have two months of data input in order to get the financial statements as close to as possible the accounting basis usually an accrual basis but possibly you would need a similar kind of thing if you're doing a tax basis for the end of the year so you can get your taxes done so we're first going to look at the accrued interest so this is going to be related to the loans down below so let's go down to the loans here with the loans we're going to have a few things that we need to be doing with them one is that we have to make sure that we break out the interest note that this could be done a few different ways if you are a bookkeeper you might try to say hey look this is a pain for me to break out the interest and accrual portion every time I make a loan payment because the difference between those two change every time and I can't automate the system so one thing you might do is you might say hey look I'm just going to record transactions that clear the bank feeds by just recording them as a reduction to the loan and then I'm going to realize that I'm not properly recording interest but rely on my CPA or accountant at the end of the year to make an amortization schedule and break out the interest portion versus and get the loan balance to be correct that's one issue another issue is that or or you might do it periodically based on the amortization schedule we would make the amortization schedule and record the proper amount of interest and principal per loan payment another issue is breaking out the short-term and long-term portion of the loan something necessary for external reporting if you're going to be providing the balance sheet but not possibly necessary if you're doing it just for taxes and you're just looking at a schedule C because it's just the income statement so that would be a breakout between two balance sheet accounts another issue that could happen that we're going to look at here is is that we have accrued interest that we need to be that we need to be accounting for as well so that's going to be the one that we're focused in on this time so we're going to focus on this one particular loan we're going to make an amortization schedule related to that loan and think about this accrued interest situation so let's go into it this was our amortization schedule for the large loan that we put together to break out the loan payments I'm going to make another schedule over here I'm just going to add to it and I'm going to call this first one like loan one or loan one and I'll call this one just loan two loan two and I'm going to make a quick amortization schedule just so we get an idea I'm holding control and scrolling in just so we get an idea of what's going on with the payments and then why this adjusting entry might be necessary in some cases so I'm going to select the entire worksheet by selecting the triangle right clicking on the worksheet format the cells I like to lay down the foundation like laying down a base beat on when I'm doing my my wraps or something or I don't know what I'm talking about I'm going to say none on the on that and we'll say that we do want the decimals so I'll keep that and then I'm going to go down to the to the home font group make it bordered and then I'm going to put the information about the loan on the left so I'm going to say the loan amount was five thousand dollars we're going to imagine it's just a three month loan so it's only three months long because we're going to try to maximize the amount of interest so it's relevant and then I'm going to say the rate is really high because it's a short-term loan again I'm trying to maximize the interest rate so we can see an adjusting entry that would be relevant point three five thirty five percent I'm going to say home tab numbers percentify that now note that that would be the rate on a yearly basis so a rate on a monthly basis this would be the rate per year and that's often the rate that would be assumed if someone doesn't say year or month but we're actually paying it on a monthly basis so we could break it out to rate uh rate per month month which would be then equal to the 35 divided by the number of months in a year 12 and then if I percentify that home tab numbers percentify adding a couple decimals we get something like that notice there's a huge difference there this is a big you know rate which people can try to make sounds smaller if they break it down to a monthly a monthly rate so we have to be mindful of that and then I'm going to calculate the payment with our payment calculation I say negative I usually start it with a negative PMT and then brackets and we're going to pick up the rate we could pick up the 35 divided by 12 or just this number noting that this number is actually longer than this because it extends beyond two decimal places so you just you don't want to type in 2.9 2 percent or 0.002 you want to use that cell and then comma the number of periods is three and months not years so those two things have to be matching and then comma the present value is the loan amount so we're going to say okay so there's the amount of payments that we would be making on a monthly basis we can say okay that would mean that the total payments payments that we would make over the life I'm going to make this a little larger of the loan would be we're going to make three of those this times three and that means that the total interest over the life of the loan would be equal to the total payments minus the loan value so 294.46 okay let's break this out on a period by period basis now so I'm going to I'm going to make C thinner a skinny C and then I'm going to put the periods periods and payments and interest and then I usually do two cells here the loan reduction because it's going to be long and instead of having it in one cell and wrapping it I'm going to put it in two cells so it doesn't make a fat or long-nosed one like a horse with a long nose we want I'll just make it two cells so loan balance balance hold on sorry about that now I have got my sound board I hit the keys for the sound board all right let's go ahead and center this and then I'm going to go in the font group and make this black and white and then let's make this home tab font group and bordered okay and then the periods I'm going to imagine let's make this a date format so I'm going to select the whole column D and I'm going to make this formatted to a short date so that I can say the first is going to be oh two 15 24 and then oh two 15 20 oh three oh three 15 24 and then oh four 15 24 and we could probably copy that down to get the last one oh five 15 24 we're going to put it on the books we're going to imagine we put the loan on the books on two 15 of five thousand and then we're going to make three payments we'll imagine they are installment payments now note they don't necessarily we might not be making basically monthly installment payments it might be a case with a loan such as this that we're going to pay it all back you know after uh three months in which case the interest calculation you know might be a larger over that time but let's let's say we're going to make monthly payments so what would that look like well the payment's going to be the same amount it's going to be this I'm going to select f4 on the keyboard dollar sign before the b in the five because that's outside of my table so when I copy it down I want it to move down and then I can copy this down and I'll get the same amount all the way down and then the interest per month is going to be equal to this five thousand times not the yearly rate if I take that I would have to divide it by 12 or I can just multiply by this monthly rate noting and remembering that this is longer extended beyond just two decimal places so I'm going to say okay and then the loan reduction is going to be this payment amount minus the interest the rent on the purchasing power meaning that the loan balance is only going to go down by that even though we paid that therefore the loan balance is five thousand minus the one six one eight ninety nine this is the new loan balance I would like to copy this down but if I copy it down this cell is going to move down that's a problem therefore anything that's outside the place I'm working on I want to use an absolute reference so over here in b4 I'm going to put an absolute reference f4 dollar sign before the b in the four enter then I'll select these fill handle I could just double click on it boom and copy it down so there we have it and so let's put some borders around it to uh home tab font group and some borders so we're going to imagine that the interest was on the books at five thousand and we haven't we haven't yet made a payment right and in 15 days have passed so we have actually used half of the interest right so so if we break it down we've actually consumed in essence half of the interest at this point in time because 15 days have passed I'm not going to pay until next month so technically I should be picking up the interest here that has actually been accrued which I have not paid yet which of course would be interest of this divided by two now in our example problem this is a small uh fairly small dollar amount so it might not be significant it might be what we call in material and therefore you don't really possibly need an adjustment for it but you can imagine a situation if it was a you know a larger loan that this 15 days of interest expense could be a significant dollar amount and it's going to it's similar to like rent oftentimes people have a better idea of being able to to visualize rent if for example uh you have an office building and they gave you and you were allowed to use the office building and then pay the rent at the end of the month or the end of the year then even though you haven't yet paid the rent cash hasn't happened you still consume the expense you're in you have to pay the rent because you've consumed it you've incurred it therefore you should be recording the expense the expense and that in those cases is usually kind of good from a tax standpoint because obviously we expenses are deductions possibly and you might get a deduction for that so that's going to be our adjusting entry i'm going to say okay we we're not going to actually pay this interest until next period but we should be recording 72 92 of interest now remember this is this adjusting entry this whole amortization schedule is something that as a bookkeeper we might say hey i would like the tax preparer to deal with that for so from from us an internal bookkeeping standpoint we might use this amortization schedule to help us break out the interest and principal portion every time we make a loan payment so that we tie out to the loan balance in which case you'd still have to do possibly this adjusting entry if it was significant right or again we might as the bookkeeper say hey look i'm just going to record each of these payments as a reduction of the loan balance ignoring interest and this accrual for the 15 day situation and you tax preparer or accountant at the end of the year can construct this amortization schedule and then break out the proper amount of interest according to the amortization schedule and do this added accrual adjustment if you think that 15 days is necessary and by doing that notice again the bookkeeper can or if you are the bookkeeper and the tax preparer you still might do that because then you can automate your payments i can automate these payments to happen automatically through the bank feeds not having to break out a difference between the principal and interest and at the end of the year i'm still going to possibly have to create the amortization schedule if i have to do this entry anyways so i might as well possibly do the whole thing you know at the end of the year that might be a little bit easier of a system just just to point that out okay but right now we haven't had a payment happen yet so we're just going to record the fact that that 72 92 is interest that we should be putting on the books as of now so let's go back to the first tab and we can do that with if i hit the drop down we typically want to do these with journal entries note that there's no forms for these adjusting entries because these adjusting entries are not part of a normal cycle they are adjustments and the fact that we'll be using journal entries will make it easier to see that these are adjusting entries uh so we're going to make all the adjusting entries as of the end of the period we're going to put a memo saying they're adjusting entries and we're going to use generally journal entries all of those things being somewhat unusual making it easy to see where the adjusting entries are happening so let's but we don't really we might not do it with a journal entry if we can use a register it might make it easier since there's only two accounts affected so let's look at the register situation if i go to the transactions uh and then the chart of accounts you'll recall that there is a register not just for the checking account but for every balance sheet account so in here we're going to we're going to do an adjusting entry for for basically two uh balance sheet uh i'm sorry for one balance sheet account now we notice we're looking at this loan right here so this so you can you can imagine that we own we have a liability of the interest on the loan that has accrued typically we will not put that in the same loan account we might call it interest payable that's what i would typically call it right interest payable or accrued interest i like the term payable more accrued interest is possibly more uh i don't know classical of a name it's an interest that has accrued up that hasn't been paid but payable sounds to me like a liability and it seems more clear so that's what i will use so i'm going to make a new account and i'm going to say it's a liability account it's going to be an other current liability to do so we're going to say it's going to be in other current liability and we're going to call it uh loan payable let's just call it other current liability and i'm going to call it interest payable interest payable all right and then i'm going to say why is the e out there like that that's weird and then i'm going to say save and let's find that account now so it's an other current liability account so i'm looking at my my accounts here assets fixed assets other current liability now it's an alphabetical order here's the interest payable that's the one we just set up let's go to the register and that one i'm going to now do a journal entry in the register so i'm going to go to a journal since there's only two accounts affected and i'm going to say as of 022924 since we're in the leap year here so that's going to be the cutoff date all of our adjusting entries are as of the cutoff date you might say hey well wait a second that's a problem because why it's going to be wrong as of the 28th because as of the 28th we should have had you know 14 days and notice it's not really exact because there's a leap you know 15 days is i'm assuming half a month so we're still doing some estimates which you're going to have to do most of the time because uh because we're going to say if it's immaterial then you know we're going to try to get it to the closest we can often using estimates right that's what has to happen but you might say hey look it's not right as of the 28th because there were still like 14 days or whatever that would not have been recorded as of that point in time of expense and and that's correct it's wrong as of before that or imperfect as of before that time with all of the adjusting entries for the most part and we're accepting that we're going to say that's fine because we're going to we're going to say that we're we want a process that works from the bookkeeping standpoint internally and we're not going to mess it up just to have everything perfect every single point along the way in time but rather make it as easy as possible and sacrifice the exactness during the month so that at the end of the month or year we can then just do an adjusting entry getting it right at the point in time that we have external reporting in the format of tax returns and or possibly financial reporting all right so we're going to say this is going to be then i'm not going to put a payee i'm going to put a adjusting entry so notice all of my memos i'm going to put there's an adjusting entry so that means notice if there's a separation from the bookkeeper and the adjusting department or even if you're doing your own adjusting entries then it gets confusing in terms of why why did the bookkeeper is going to say what what happened here the accountant did something and it messed up my accounting well we want to clearly identify that this was an adjusting entry so if there are questions about it we can ask the question so we will identify that it is an adjusting entry by one putting a memo two putting them all as of the end of the period month or year whatever we're working on and three they're all going to be entered using journal entries which is a form not often used in the normal accounting process so then we're going to say this is going to increase 72.92 and the other side is going to be going to interest interest expense so we called it interest expense and we have these sub accounts i'm just going to say interest expense all right and so this is so that's going to be the journal entry so let's go ahead and save it and check it out if i go back into it and and i was to edit it then it's going to take me into an actual journal entry you might feel more comfortable doing journal entries if you have a a bookkeeping background that's totally fine i'm going to put the description in both sides you could just use a journal entry which would be a credit to interest payable and the other side the debit going to interest expense i'm just showing the register and how we could use it which would often be a way to do it if you only have two accounts affected if you have more than two accounts affected the register is going to be more difficult and debit and credit really is is the way to go but let's go ahead and save and close we'll see that in future presentations balance sheet if i run the balance sheet we're going to run it and then we're going to go down and say that we have down here in our payables interest payable 72 92 72 92 if i go into it we can see that it it's marked clearly as an adjusting entry and it is a journal entry and if i go into that journal entry it'll take me to the form which is the default form if no other form is to be used of a journal form in the form out of debits and credits closing that back out the other side on the income statement let's run it to refresh that we have interest income towards the bottom here it is if i go into the interest income we have more there of the 72 92 so we have impacted the income statement let's go back we have increased the expenses which is going to decrease the net income on the year for interest that has accrued because we've been using the purchasing power of money for which we have not yet paid because we're going to pay it in the following month paying it in accordance with the amortization schedule now the next question is well should there be a reversing entry for the transaction is this a temporary kind of transaction is it going to confuse the the bookkeeper now this first one notice you could kind of leave it there and just tell just tell the bookkeeper yeah this is this is going to be uh the the where did it go the the the interest payable is going to just be sitting there don't do anything to it just pay off your loan payables like normal and then we'll make another adjustment as of the end of the next month or the next period where we need to make an adjustment for it or possibly you could simply reverse it and then as of the first day of the following period so that again you don't confuse the bookkeeper so this this is one I think it can basically go either way it's probably not going to be in the way of of messing anyone up because it's not actually impacting the loan balance if you break it out into its own separate account but you might choose to reverse it just so you're back to the normal point that's what we're going to do next time to see uh the reversing entries note that sometimes when we look at these reversing entries we have to determine is this a timing difference or is it is it a temporary difference or is it a permanent difference that uh we are recording so we'll kind of go over why we we might reverse it next time by looking at uh the journal entry that would happen at the next payment in other words next time the bookkeeper makes a payment here uh if they have to take this 72 92 into account that's going to make their journal entry their payment even more difficult if they're doing it according to this amortization schedule if they're trying to reverse this payable account as they make the payment and we don't want to make anything more difficult on the bookkeeper so so that's why we could say maybe we'll just reverse it and make it correct as of the cutoff date and then and then change it so we'll take a look at that uh next time but now let's go back on over and I want to open up my my uh journal report so if I go to the reports on the left we can look up a journal journal report and so this is often a report that you might use to present the adjusting entries that we've made so notice this report gives a journal entry format for every type of transaction every form type so but if I look at just the ones that happen at the end of the year so if we go to a custom date as of 0 228 24 or 229 24 0 229 24 because all of our entries were made as of the last day then this will limit the amount of journal entries that we will have we still had our paychecks at the end here uh and but here's our journal entry that was actually a journal entry form we can then sort this for this by transaction type which would be simply the journal forms so if I filter this I could say that I want to filter by transaction type and it needs to be equal to a journal a journal entry and so we're going to say okay and so now it's limited to just the journal entries and so notice I still have two entries because I had this payroll adjustment that wasn't an adjusting entry so so then if I wanted to filter this down further I could export it to excel and just delete this one this one item but I just want to show this report because this is a common report that we might use to then explain what we did in the adjusting department especially in a situation where the accounting department uh is or the bookkeeper is different than the person doing the adjusting entries and you're trying to say hey look this is the adjusting entries that we made in order to do the taxes or external reporting uh or whatever we needed to do all right let's go to the trial balance now this is where we stand on the trial balance so we've got the balance sheet on top of the income statement here best report to check your work basically all the assets checking accounts and asset counts receivables and asset inventories and asset investments and asset payments to deposit asset prepaid insurance asset furniture and fixture asset the accumulated depreciation contra asset machinery and equipment asset those are what the company owns then we have the liabilities and equity the flip side of the coin who has claimed to those liabilities or the value of them liability who has claimed to those assets liabilities and equity so we've got the accounts payables a liability visas a liability sales tax liabilities we've got the uh interest payable is now a liability we've got the loan payable liabilities to the bank we've got the payroll to the government liabilities to the government unearned revenue liability to the customer for prepayments and then we have our claim to the balance including the owner's equity which is draws the owner investment and the owner's equity similar to retained earnings if it was a corporation and the entire income statement income being credits minus expenses being debits the difference between the two resulting in a credit balance if there was net income which would then roll into the owner's equity equivalent to retained earnings for a corporation and quickbooks does that automatically on a yearly basis which we can see if we go up one date 010125 to 010125 we'll see that the income statement closes out everything rolls into equity the equivalent of retained earnings


Hello and welcome to the session. In this session we discuss the following question which says find the probabilities that a EPS selected at random will contain 53 Sundays. First of all let's see how do we find the probability for an event E probability of E is equal to number of outcomes favourable to the event E upon triple number of possible outcomes. This is the key idea to be used in this question. Now let's see the solution. So we have to find the probability that a EPS selected at random will contain 53 Sundays. First of all we have a fact that in a leap year there are 366 days. Now 366 days means 52 weeks, 2 days and we have to find the probability that this leap year will contain 53 Sundays. Now since we have 52 weeks in this leap year so this would mean that a leap year is 52 Sundays but we have to find the probability that it contains 53 Sundays. So of these 366 days we have covered 52 weeks that is 52 weeks contains 52 Sundays. Now we are left with these two days. Now the remaining two days can be Sunday and Monday, Monday and Tuesday or Tuesday and Wednesday, Wednesday and Thursday, Thursday and Friday or Friday and Saturday can also be Saturday and Sunday. So clearly you can see that there are seven elementary events associated with this experiment. So let's consider let A be the event that a leap year 53 Sundays. Now the event A that a leap year has 53 Sundays will happen if the last two days of the leap year are either Sunday and Monday or Saturday and Sunday. Thus we say event A will happen if the last two days of the leap year are either Sunday and Monday or Saturday and Sunday. Thus favorable number of elementary events is equal to 2. So out of these total seven elementary events two are the favorable elementary events. Thus the probability of the event A that is probability that the leap year has 53 Sundays is equal to favorable number of elementary events that is 2 upon the total number of elementary events which is 7. So probability of A is equal to 2 upon 7 or you can say the probability that a leap year selected at random will contain 53 Sundays is equal to 2 upon 7. So this is the final answer. This completes the session. Hope you have understood the solution of this question.


So, what we have looked at so far is, we looked at strings, how to create strings, how to access their elements, how to do some basic arithmetic kind of operations in strings, access the elements, we notice that strings are immutable, we solved a little problem by looking at slicing in great detail, striding, then we looked at string methods, keeping in mind the fact that strings are immutable, solved the problem, looked at join and I also demonstrated for you split. Let us look at conditionals next, so what I will do is, we will finish conditionals and loops before we get to lists, lists we will do in the afternoon, so let us look at conditionals. Now, python is a fairly simple language in terms of conditionals, there are not too many conditionals, typically you will use the if, if else, if else blocks which we look at now. So, consider the code here, this is python code where I am saying first a is 5, so what have I done, I have created a variable called a to which is assigned an integer 5.  But getting back to this if code, so a is equal to 5, simply a variable declaration to an integer, if a percentage 2 double equal to 0, so this is how you express a logical condition, equal to is an assignment, double equal to is conditional, you check, so if a percentage 2 is equal to 0 means what, is it divisible by 2 essentially, if it is divisible by 2 it is even and now notice that anything inside this if is indented one level to the right, now indentation in python is very very important, all of scope is determined purely by indentation, many of you will be saying, why do not you have brackets to indicate in scope, it turns out that if you put brackets everybody has a different bracketing style and some people have no style at all, which makes code very difficult to read, but python therefore enforces that you must have indentation to determine the scope, so in this case everything that is indented one level to the right is inside this if condition, if you did not back to the level of the if, then you are outside that if condition, now one note in indentation, I would suggest that you do not use the tab key and instead use spaces when you do your indentation, reason is you cannot mix tabs and spaces when you are doing your indentation, in one python file avoid mixing tabs and spaces, so as a rule if you have an editor, many editors have this configurable, in them for example it is called expand tabs, similarly in emacs there is something like that, even in g edit and all of these other editors, if you look at the program or if you look at the properties or the features, there will be one thing which will say use spaces as tabs, so every time you type tab it will convert it to some equivalent number of spaces, I would suggest you use spaces in your code uniformly, do not use tabs and I would additionally suggest that you use four spaces as a tab, do not use eight because eight becomes too much space, so use four that is a recommendation that I am making, it is not compulsory but I recommend that you use four and I will use four in the subsequent set of slides, all the slides that I demonstrated, so if A percentage two zero it executes this block, else it executes this block very straight forward, so let us try this out, A is five and I would suggest you also try it out on your local sessions, A percentage two equals zero and even also this, I am just modifying it so that you can see that, now if I have to go to the else, I cannot type else here, I have to go back, now I type, now notice that it is not giving me back the impromptu, so you enter this twice, now since A was odd, it said odd, it is, so remember indentation is important and more importantly by the way is many people will forget to put this colon, so if you say for example, if you forget this it will be syntactically incorrect, so every block is indented and before that block you have a colon, semicolon not semicolon, colon is the character you have to use, now if you do not have an if, if you do not have an else that is fine, so I can say if A percentage two that is also fine, you do not, else is not compulsory, but often you will say if else if right, so instead of else if there is a condition, there is a thing called L if, it is kind of like bash, so you say if A greater than 0 positive, L if A less than 0, negative else and only one of the blocks gets executed, very straight forward, again remember indentation, semicolon, everything indented one to the right is in that scope, for example, let me make a few mistakes, if A is greater than 0, gone, I cannot put an L if, if I put a new line after this, I cannot say L if after that, so if you are using an editor and you are typing this, make sure that the L if and else blocks are together, so this is very straight forward, the other thing is else is optional, so if user is admin do something blah, blah, blah, notice that there is no else block here, that is perfectly legal, now very often you want to do an assignment very conveniently, but without having to write a 3 line if or a 4 line if condition, so for example, let us look at this simple example, there is a variable called score underscore str, that is either a string of a a indicating absent for a student or a string of the numbers in the range 0 to 100, some mark, it is the score of that student in that paper, we wish to convert the string to a number using integer, so this is one thing that I have not shown you yet, supposing I have let me make him pass, so let us 50, if I want to convert this to an integer, I can do int of, this will convert it to a integer, I have not shown you this explicitly before, so int of a string with a valid representation, so for example, if you say int of that is invalid, which is value error invalid literal for int with base 10 score, it does not know how to convert score, so what I want to be able to do is I want to say essentially I want to do this, if score str not equals a a, score equals int of score, else score equals 0, now you will find this is a very common requirement, you have to, in this case it worked but sometimes score could be a a, score str was a a, how do I now make this simple, so it turns out there is a ternary operator which can do this in one line, so I can say score is equal to int of score str, if score str not equals a a, unfortunately my font is too big, so it does not fit in one line but you can look at the code, so let us just switch to, so now what to say, let us just switch to the presentation, all I have done here is I have made this line shorter by storing this in another variable called ss, ss is score str, score is int ss if ss is not a a l0, so in one line I have done what four lines do here, it is a very convenient thing you will use it repeatedly and the format is score is what you want under the condition that this is true, otherwise so what it does is it will first evaluate this condition, if it is true it will evaluate it to this, if false it will do, so it is very easy to read, score is int ss if ss not a a l0, it is called the ternary operator and it is very useful. The last piece when you are doing functions, when you are writing conditionals and generally when you are doing anything with this indentation, supposing I want to say the following, let us switch to the terminal, if a percentage 2 equals 0 print even but I want to do nothing when it is odd but I do not, I want to have that else case and do nothing, I want to write it so that the code looks clean, so I can say if it is even do something, if odd do nothing, in this case you can use what is called pass, pass is what is called a syntactic filler because if I put else colon, the colon will indicate that the next section should be indented, when you say pass it will basically say there is nothing to do, this is also useful when you are doing functions and when you are writing your own code, so you are writing functions and you are trying to get an idea of I want to write this function which does something, that function which does something, you are not interested in the details of the function, but you want to just say that function should be there, it should take these arguments, you define a function and you say pass which means you will come back to looking at the code later on but you want to just create a dummy function, then you say create that function and say pass inside it will basically, it will compile as legal python code but you will do the implementation later on, so pass is something you will see very often when you look at code and when you write your own code, so it is just a note that you should keep in mind, so that is it, so there is only an if conditional in python which makes the language rather easy to read, there is no switch case, then none of that is there, it is just if and only ifs, if, l if, else that is all you need to know, so loops get a little bit more involved, so let us look at loops, so we look at the while loop, so I will show you the simplest while loop that is possible, let us print the squares of all odd numbers less than 10 using while, so to do that first set the some variable to i to 1, while i is less than 10 and i star i, i plus equals 2, so you will also make mistakes when you type, unfortunately the version of ipython I am running does not seem to have multi line editing, first mistake you can make is you forgot to increment the counter, now it is going to go into an infinite loop, so how do you stop, let us control c, it will get out of that, so now let us go back i plus equals 2, so now it is printing the squares of all odd numbers less than 10 using while, so the basic syntax let us switch to the slides is while condition, this has to be a Boolean condition typically, any semi colon very important, anything inside this indented block is going to be run as long as this while loop condition is true, so if it is always true, so for example if I want an infinite loop I can say while true pass, now control c will get out of it, notice that I could also do it like this, this is also legal, basically pass will block will basically assume that there is no further block, so this is very simple, so there is nothing more to while, you need to establish a condition everything inside this condition is executed as long as this condition is true, there is no do while in python, the other thing is for the next looping construct is for, what I will do is I will finish for and someone has asked a question I will answer, may be before I get to for I will answer the question, can you give more examples on join and split, I do not know, so I can give plenty of examples on join, I think I already gave you fairly many examples, so join jbc that is join and if I actually give a lot of examples, I do not know if I can give more, there is nothing more to it than I covered even all the optional arguments, I covered the separator, so I can now say separate on, if I do not give any options for the split, it means it will separate on any white space and remember I showed you an example where I gave multi line input, where I had new lines that is new line is also considered as white space and that is also handled, whereas if I say split say on the letter s or let us split on is, then it will be th space space a string, let us split on s, you will get something, so basically you can give it a separator argument and you can say I want only the first split, it is a max up, if you do not specify a max up, it will split all of it, join is very straight forward, just give it a string, it will join on that, so if I take notice that it does a, so essentially you can think of it as instead of these commas here, it is replacing it with this string, it can be any string you will supply, that is pretty much all there is to it, perhaps interesting things you can do like this, notice that the join argument is a sequence, let us see if this works, that does not work because it expects strings, each element of that sequence should be a string, but this works because hello is a string and each element of that string is a string, so h and e and l and o, let us try one more thing, this will give me back hello, what if I give the empty character as split, what do you think they should do, it will tell me error, I do not know how to split it on empty character, it knows how to deal with this, as does it know how to split, notice that it is when I did h e l l o dot split l, it says h e empty string o, because it is saying between these two l's there is nothing and it is giving you that, I think I have given enough and more examples of split and join, so much so that people may complain that I am doing too much on split and join, let us move on, you have about 5 minutes, I will wind up with for looked at container ship, for n in some sequence print n, for example, this example is, so let us try this out for n in 1, 2, 3, semicolon indented block print and now it prints 1, 2 and 3, so essentially at every iteration level n is initially n becomes 1, then n is 2, then n is 3, so n is a variable that is first 1, then it is 2, then it is 3, for example, I could do this, so it will be 2, 3, 4, very simple very straight forward, so essentially you can think of it as 4 iterates over every element of a sequence and now this does not have to be 1, 2, 3, it could be, because it is a sequence, it can also be a string and since n is a variable, you can have any name, so let us slide to something little more complicated for c in, so for c in s, if c is, I am combining both things that we learned and make it a little better to print, notice that it is basically when I, instead of saying print c, if I do print c, it will only print a space instead of a new line every time, so all I am doing is, if it is a, b or c, I am not doing anything, if it is anything else it prints, some silly code, very stupid code, I just combined your conditional along with looping, so the general structure is for variable name in some sequence, do whatever code inside this block, that can be anything, for iterates over each element of a sequence, now one common thing that you will often need is, you will typically you would say for y, you typically in c you will say i is equal to 0, i less than 10 plus plus things like that, so there is a built in called range, what range does this, it returns a list of integers typically and the syntax is kind of like our slicing syntax, start, stop and step and this stop is not included, so if I say for, I say range of say 5 by default, start is 0, I have only specified the stop element, 5, 5 becomes a stop and step is 1, instead I can say 0, 5, 2 that will be 0, 2, 4, so I can say for x in range 5 print x comma, so for loops are extremely convenient because it allows you to iterate through any iterable, any sequence, you learn later on there is something called an iterable, so anything that is iterable you can iterate over elements of that, sequences are iterables and range can be used to generate a list of elements quickly in a convenient fashion, so if you want iterate over some set of elements you can do that, so what we have looked at now is loops which are while and for, so it is very simple, there is nothing more to it than that, there are additional details to how to use for, for it can be a little more, there are more details that you will learn later, while loops are simple but these are the only two looping constructs in python, there is no do while, there are few more constructs you can use inside your loops, one is break which is very similar to what you have in C or other languages, what it does is it breaks out of the innermost loop and please remember it only breaks out of the innermost loop not the entire loop, so we have two nested loops one for inside another for, the innermost break will only break out of the innermost loop, so for example this code here produces the squares of odd numbers below 10 using while and break, so it says initializes the counter to 1 while true, please note while true is ordinarily an infinite loop, so what it does is print i star i, i plus equals 2 that is the same as what we had before but in addition it says if i is greater than 10 so let us just try this, the other construct that is often used is continue, so what it does is if you hit a continue, so let us look at this code for n in range 1, 10, 2, so what will this, if I just print without this it will print the values of n would be 1, 2, 3, sorry 1, 3, 5, 7 and 9 correct, why because range of 1, 10, 2 will be 1, 3, 5, 7, 9, so n percentage 3 is 0 continue, it means it will not execute anything below this and jump back to the start of the loop, so let us try this, so for n in what it printed was 1, so it is divisible by 3, it did not print, however if I put the print n star n on top, the answer would be different because if you continue at the end of the block it does not mean it make any sense, it will still execute that print state, so you have to be careful about where you put your continues, how you do the continue, so there is a question between of what is the difference between pass and continue, the big difference between pass and continue, so my suggestion to you is you please try it yourself, you put pass here and you put continue here and you tell me what the difference is, what do you expect, question is what is the difference between pass and continue, what will happen if I put pass here, why will it be stop, whoever said that, while true is an infinite loop, while true pass is an infinite loop, pass is nothing, it is just syntactic block indication that is all, what will happen, so I want you all to try this and before you try it, think about what is happening, what is pass, this answer is clear, what happens if I did this, this will be an infinite loop, so if I did pass here what happens, it will do nothing, it is like a no op, nothing, do nothing, so it will print everything, it will not do what you expect, so pass and continue are entirely different, we have finished with looping constructs and the next concept is list which we will consider post lunch.


In this presentation, we will take a look at multiple choice questions related to partnerships. First question, which of the following is generally thought of as a benefit of partnership organization? A. Limited life B. Mutual agency C. Unlimited liability D. Separate legal entity and E. Flexibility with profit sharing terms. So we'll go through this again and see if we can eliminate some options with the process of elimination. So question, which of the following is generally thought of as a benefit of partnership organization? A. Limited life Now a partnership has limited life, but it's not really thought of as a benefit because you know, a lot of times it's a benefit to have the partnership you would want the partnership to exist after your death possibly to have something so that would typically be thought of as a. So limited life is not usually thought of as a benefit, although it is a it is a characteristic of a partnership. So I'm going to remove that B says mutual agency and again there is a mutual agency issue, but we typically think so it might be good, you know, but we typically think of mutual agency problems because that typically means that there's going to be multiple individuals that that have can combine the business to different contracts and because of differences between risk versus reward and whatnot between the agents, the partners, there may be negative outcomes. And so we typically think of mutual agency problems, but there could be benefits as well as from mutual agency as well, because that's part of being a partnership, you got two individuals who are involved in the decision making process. Just the problem is that, of course, one, the individuals have, you know, if you vote on everything, it can slow things, you have a committee, basically, it can slow things down, but and if one individual is making decisions without someone else, then it could be, you know, it could cause problems as well with the other individuals because they're committing the entire partnership. C says unlimited liability. That's a characteristic, but definitely considered not good, typically. And then D says a separate legal entity, and a partnership is not a separate legal entity. A corporation is. And then E says flexibility with profit sharing terms. And that sounds pretty good. So I'm going to leave it with B and E. We'll read through it again. Which of the following is generally thought of as a benefit of a partnership organization, either B or E, mutual agency or flexibility with profit sharing terms. And of the two, I would think that B, again, could be thought of as positive or negative, probably negative for most discussions of it. And then E's flexibility, this is really a benefit of a partnership. So a partnership has a lot of flexibility with profit sharing and being able to split the profits between the partners in different ways, whatever way best suits that people involved in the partnership. So final answer and question, which of the following is generally thought of as a benefit of a partnership organization? E, flexibility with profit sharing terms. Next question. Two people form a limited liability company. Unless elected to be treated as otherwise, the Internal Revenue Service will tax the LLC, limited liability company, as. A, an S corporation. B, a C corporation. C, a non-taxable entity. D, a partnership. And E, an estate. So let's go through that again. Two people form a limited liability company unless elected to be treated otherwise, the Internal Revenue Service will tax the LLC as. So this is one of those hybrid kind of organizations, the limited liability company and really it's confusing because you really have characteristics between a partnership and a corporation. And then so the question is, is it more of a partnership or a corporation? What they're trying to do, of course, is to have liability protection as a corporation would as a separate week. And then also have elimination of the double taxation and that's going to be a benefit of a partnership. So they want to kind of have the best of both worlds. That's what an LLC does. That's what an LLC is there for. So if we go through these, then A says an S corporation. That's going to be a different type of organization similar to an LLC, but it's not going to be taxed as an S corporation. That's another one that's going to be in between a partnership and corporation. A, C corporation. B says we might leave that one because that's one of the two options. Really, we're talking about between a partnership and a corporation. That's what an LLC is. So I'll leave that one for now. C says a non-taxable entity. And again, we might think it's going to be taxed as a non-taxable entity or be treated in that way, but I'll keep that one for now. D says a partnership. And that's, again, the main option is really between B and D, you would think, because an LLC is between a partnership and a C corporation. And then E says an estate. And I don't think it's going to be an estate. So we can probably eliminate the estate. So if we go through this again, two people form a limited liability company unless elected to be treated otherwise. The internal revenue service will tax the LLC as either B, a C corporation, C, a non-tax entity, or D, a partnership. And again, I'm going to remove the non-tax entity, even though, you know, that it is kind of a flow through type of entity. And I think the major options are going to be between B and D. And between the two, the LLC will typically be taxed as a partnership. And that's typically the way it's going to end up working here. It's going to be a flow through entity in a similar fashion as a partnership. So in essence, we'll do all the accounting type of information for it in a similar fashion as we would with a partnership when we have an LLC. So final question and answer, two people form a limited liability company unless elected to be treated otherwise. The internal revenue service will tax the LLC as D, a partnership.


What's going on everyone? Sam here with late sports guards are up in 22 23 But any premier prism Premier League soccer breakaway five box break number five random team style There's a look again at your random results as always find those on the website under results tab as well as the Lincoln Shatt Let's do it got one more box of this after and then we've got just one spot left on tiered Revolution again the only revolution spot left on the night and then we've got eminence and football PYT Two half cases contenders full case impeccable full case of immaculates Silver Tyrell, Malacita Base our work's Maddie cash silver and Golo Conte base base First disco is Lucas Dine or acid via the blue of Jojean Anderson 29 of 75 for Crystal Palace Yeah He was freaking out He went crazy the impact blue is Jed Spence at 17 of 49 for Tottenham spurs random color. I would think silver as Rikonso Purple Anthony longa nice one there for man United 21 of 25. It's like this purple. You can throw in. I guess just every color Yeah, that's fine Jeffrey Shlup Disco you're a shlup. I was gonna say that in your middle name slupper I'm Sam Shlup the burden Come on down the back car for me Niko Williams Disco How y'all doing? Sam Martin here. We got pink virtual bands like kaleidoscope pink is gonna be Joel Concello 87 of 99 for Man City nice one there Joel Concello There's Anthony Gordon 299 on the pink disco Everton keep telling me is the impact of that recipient steamer Silver is Wilfred Zaha Kevin de Bruyne score his club silver Morgan Gibbs white Jacob Ramsey. There's a blue Danny Ings 70 or 67 or 68 of 75 for Asin via blue kaleidoscope Gabriel Jesus Blue Daniel James 275 for full instant impact and you go Williams That's Joao Paul Hina Disco silver Damari Gray got disco of Albert Sambi lo conga for arsenal pink to 99 Josh Joshi Anderson pink is Pat's and DACA nice one there for Leicester City disco Lucas Paquita Diego Lorenza So we've got an auto go.  It's actually a lot easier than I Thought it was gonna be a thought it'd be something super European Jed Spence 249 on the red disco rookie Everybody's still left other than me is a big time Shlop Casemira silver Lester city Blue Adam Lilana 275 Skucks like Jordan. Yeah Team yep, say kumara to 25 on the purple rookie for Southampton That was Kulisepsky, I know I couldn't Disco is Andy Robertson dying. I got Disco of Riyad Amarets Man City Pink Joe Alconcello man city to 99. It's good Carl acting champions over here Holland base pink disco Ederson 1099 for Nancy kaleidoscope hungman son disco Alexander Esauk Charleston it's gonna be a Roy Keane for Man United on the legends disco Roy Keane red Tyler Adams to 49 for Leeds a few more spots coming in everybody. Thank you again. We're sold out now on tiered So slow down all revolution nine sixteen fourteen four thirteen to go on The American savior a great name too. Oh, yeah Silver rookie of Deniz und off silver Christian Norgaard disco Ederson man Holy soup Steam Kulise scope Wesley Fulphana and Bobby Clark rookie disco That was like All right, cool, I was on a band hair Nice most solid nice one there to 99 for No, Muhammad's Silesia different one South Hampton to 99. That was most solid.  Good luck here everybody Right in that one. We rode the soil diaper for a while Road that one forever. Oh, yeah, I mean that's still Ski ball right Silver of Eddie and Keetia Should be the crime that it's not blue Virgil van Dyke nice one there 75 Revolution that made everything work In my mind it's impact any Robertson. There's Rico Henry blue to 75 for Brentford I know Disco David Deguilla silver Philip billing Disco Callum Wilson I am yeah, thank God That should genuinely be used as like a Like a way to torture people. Yeah, there's Jochim Anderson pink I think we pulled like four so far to 99 Of the same guy. It's like to have to set up everything Do all the moving and then have to set up all everything else scores club Holland Anthony on the pink man United to 99 Green that is Dominic Solanke. Hey appreciate that Hc. Let's go. Let's go Hc Wesley Fofana to a five on the green for Chelsea nice one there Chelsea Patriots gone now and packable the beccatino and Jordan Pickford that is Gonna be Jolinton on the disco for Newcastle disco auto. We've got red to 49 of Chemin Campbell rookie and base do a quick recap guys We could probably slim down the recap after Pinkston 99 Anthony my hobbits lisu Inerson Joel Concello Pots and DACA Anthony Gordon Joel Concello Jochim Anderson three times 21 23 and 97 Blues to 75 Rico Henry Virgil van Dyke Alexander Mitrovic Aaron Hickey Adam Lallana Daniel James Danny Ings Jochim Anderson reds to 49 Jared Bowen Tyler Adams Jed Spence Jed Spence Jim Campbell Purples to 25 say Kumara Anthony longa green Wesley Fofana to five Autos we had Jolinton Jeremy Roy Keen and Takahiro Tomiyasu That'll do it for the break. Thank you guys again for the field next up number six