Do you ever feel like your personality is just a little bit too stereotypical? And what can you do about it? Let's talk about it. Well, there's nothing you can do about it because that's just who you are. So just be who you are and stop complaining. No, that's not what the people want to hear, David. Anyways, there was this viral Reddit thread that was titled, Yo, how do you feel when you're doing something super stereotypically Asian? Do you embrace it? Yeah, this guy, he does Kung Fu. He's an assistant Taekwondo instructor. He loves watching anime and manga. He only eats out at Asian restaurants. And he said, man, I kind of feel like a stereotype because everything that you would think about a stereotypical Asian, I confirm that. And this turned into a whole post about, should he embrace it? Should he try to find more diverse influences? Everybody makes their own decisions growing up in America. How much traditional Asian stereotypical Asian culture are you influenced by? So of course, we got to get into our own takeaways, the comments section. So make sure you like, subscribe and turning your notifications.  It's a Chinese chili oil fused with the Sichuan peppercorn chili oil, but also Italian chili oil. So it's kind of this weird mix. But anyways, guys, pre-orders are still going on right now. Check out the Instagram for all the content that we've been making.  Yeah, you know, I'm trying to balance the East and the West. Anyways, David, so right off the bat, I guess let's get into a real quick, your personal opinion. Do you feel like a stereotypical Asian? Why or why not? Man, I was thinking about it and this is a good Reddit post. You know why? Because it sparks self-reflection and everybody's answer is different. Even two people in a family could be different, right? I would say this. I do feel like stereotypical in some sense, in the sense of like, you know how on TikTok, there's a people breaking down like, oh, Asian Hooper fits like these things and he looks like this and he has a Nike Tech Fleece. Well, I just did a brand deal with Nike for Nike Tech Fleece, you know? Check out his Instagram. So I'm saying like, yes and no. But maybe I would say the extent of the mishmash of stereotypes is more rare in the sense that I've studied a lot of Americana culture, both white and black heritage American culture, as well as international culture from places not Asia, but as well as a very, very deep study of Asian culture. So that mix of those things is not stereotypical, but you meet Asians quite often that fit into one or two of those archetypes. Right. Well, let's just say out of 10 main Asian stereotypical traits, you might rank, just give yourself a ranking. I don't know. Like in some ways, I would like culinary wise, I might be like a seven or eight, you know, but I just think the combination of being so deep in all these different archetypes is rare. Yeah, I mean, I would say most Asians, I guess on a scale of one to 10, probably have some stereotypical traits, but that doesn't mean you're 10 out of 10. And I think this guy is asking this question, this is my hunch, is that probably something happened in his life that made him second guess if being super stereotypically Asian is the best move for him.  Well, stereotyped for Filipinos are a little bit different. Right, right. Or even stereotyped for Vietnamese people are slightly different. Or is there one scale in Filipinos just rank way less stereotypical on that scale than Chinese? He's basically saying, yo, man, am I too much of a nerdy Asian? That's kind of what he's asking. And I think what my answer to him is that just based off his short description of himself, I don't know what happened in his life, but I would say he's only, he's a little bit, but it really depends on, I think, how you carry yourself. Because I think in America, interest-wise, that's stereotypical. Maybe he drinks boba. He likes Asian restaurants. He only likes, he likes to watch J.A.V. and all this other like nerdy stuff. But I'm just saying. You're saying he has that, this phone sideways, but it's probably an Android, watching some sort of like cracked anime stream while he's at Shabu Shabu, all you can eat in California. But does he have that American confidence? And I think this American confidence in who you are can carry you very, very far and can make a lot of people feel differently about you. I'm sure he feels outsided from white and black culture in America probably. That's why he's questioning. But let's be clear here. America in a mainstream sense usually has only two polar zones on the spectrum, right? White culture. And there's various versions of white culture, right? You have like corporate white culture. You have like country white culture. But then you have also African-American culture, right? Those are the two things. In Asian and Latino groups, Andrew, we often feel the need to triangulate ourselves with either both or one of these polar cultural spectrums, but also our own country of origin or region of origin culture, right? So for Latinos, that would be being in a reggaeton or mariachi music or the culinary things. And for Asians, that would be more being into K-pop, K-pop, the culinary things from Asia, as well as of course, Andrew, martial arts or Buddhism. Yeah, exactly. But if they don't choose stereotypical, whatever that means, Asian culture, I know some Asians, David, who leaned into almost what you would feel like is stereotypical white and black culture. Like, we know Asians who almost act, I guess, stereotypically black or stereotypically white. Right. And that was that a function of them wanting to assimilate, to have a better life and fit in with the people in their local environment? Or was that just like something that just happened organically because that was their nurture? I don't know. But anyways, guys, we're getting to the comment section because there's more discussion to go around. This first comment is by a woman. She says, I'm basically a walking stereotype. I like Boba. I prefer Asian food. I enjoy anime, mangas, Asian dramas, J-rock, J-pop. Not to mention I'm a gamer. Oh, she said she likes the MMORPGs. That's the most Asian. That's the most Asian. This woman says, my car has Pokemon stickers.  Does she have the plushies in the back window though? Because you used to see that in the 6-2-6. She probably has the Sanrio stickers like she says. So my response to this is that this is a woman who is proud to be a stereotype. I don't know what part of the country she lives in or what her friends are. I'm sure she's happy with her life. Shout out to her. And I think that this is a good way to go. But I will say this, for a man seeking, and this is for if a dude is seeking American masculine acceptance in America, then fully being a stereotype or being stereotypical is tough for a guy. While it may not matter as much for a woman because maybe a woman she can live still a good life being very stereotypical. But one thing you lose by a man being a stereotypical Asian is like respect from other men sometimes. That's the feeling. Well specifically probably non-Asian men or even very assimilated fellow Asian Americans. Other Asians too, yeah. I mean I guess I would guess that this girl probably grew up in a heavily Asian enclave on the West Coast. It feels like it because that's where I've seen the most replication of 90s or 2000s or 2010 Asia culture. Dude, she's driving around even Cerritos or San Gabriel Valley or even San Francisco area not like very regular. Right, right, right. I guess it really depends on like what she's trying to do with her life though, right? It is true. If you want to work in music or sports that tends to be more like urban black American heritage culture or if you want to work in corporate America or you want to work in finance or real estate those tend to be more like white culturally. Don't you need to like adopt to the culture of the industry that you're going to enter? Yeah. Or do you think that depending on your upbringing you'll already gravitate towards various industries because if you want to stay very very Asian Andrew you could get a STEM job, be a computer programmer and it's not going to matter because it's going to matter how good you code. Well you know if you feel too stereotypical you know you have to ask yourself too stereotypical for what? What are you trying to do with your life? That's the most important thing and you know this guy I don't know if he really provided those details right to to fully flesh out the post. He said I do whatever I want unapologetically who cares if it's stereotypically Asian. I embrace it. I love being Asian and I'm proud of it. In some ways I don't feel like I'm perpetuating anything however I'm not going to stop enjoying things because it's stereotypical. Why should I feel bad when it's something a part of my culture and something that I enjoy? No you should not feel bad and I think that being unapologetic about the things that you like especially if they're Asian why not? Like you should be able to stand tall but again we're saying also if you like all stereotypical Asian things then don't be surprised if you're walking into a room full of non-Asian people who are very Americanized. You don't even mean non-bober drinkers. Yeah like you walk into a non-bober drinking place non-Asian files and don't be surprised if people don't know what you're talking about. You know what I mean? Like that's fine. Everybody should live their life but also just know what they're getting into. Yeah and I think in terms of like these are very fishbowl industry specific like things to your individual goals and your aspirations. However if you're just talking about having a sense of community I think it's easier nowadays in 2023 to be into whatever niche things you are whether they're big niches medium niches or small niches and build community around that because there's Twitch and there's Discord and there's Cosplay Conventions and there's Comic Con. I think 10, 20, 30 years prior it was much more difficult to find that in your local community but nowadays with the internet the ability to find your tribe and your vibe is your tribe and things like that. Somebody said are white people apologizing for doing things like listening to country music and having BBQs? Are Mexican people apologizing for eating tacos and watching Lucha Libre? I would say maybe are do black people apologize for listening to hip hop and going to being in a basketball or football? Yeah no and obviously those things are all generally more accepted as part of American culture. Wow a lot of Asian culture is still kind of seen as like niche, nerdy or alien. Because it comes from the eastern hemisphere versus emanating from the western hemisphere just based on a global latitude, longitude, situation. But I do think that acknowledging that a lot of Asians are questioning themselves about this goes to show you how often we're raised with like a kind of self-doubt or an inferiority complex about Asian culture and I've been through something similar where you know sometimes you reject Asian culture when you're young because you're just trying to fit in and you're like I want to be cool I want to be American and then later in life you're able to balance it all which I think is the beauty of America which I think is great. I think that's the best place to be in America rather than only be 100% in one way or the other. Do you think that this guy posing this question and all these people sort of pontificating in the comments section are from the older generation whereas genre mashing seems more odd and maybe like somebody who's let's just say 25 and under and with heavy internet exposure may not struggle with this balance as much. Yeah, yeah, maybe. I don't know. I mean I know that there's still a lot of like depressed young kids out there too so I don't know if this this is one of the issues that they're dealing with. Somebody says you're only thinking that way because of what you've been predisposed to while living in a country that far too heavily magnifies racial differences and has unfortunately affected the lens with which we live and view the world with as you can see here with this very post. So don't let that affect you because none of the things you are doing are wrong at all. No and that is a good point that the Asian culture being in the Asian culture usually is not a negative on your life.  So yeah. Also one of the things I want to say is like Asian culture when you travel back to Asia especially nowadays it's very different. They have people that are very much into American culture over there. I mean there's like you know people doing all types of things that used to be considered Western but completely living their life wholly in the Eastern Hemisphere. Right. So it's not necessarily like we only got to be things that emanated from the East a thousand years ago even though those obviously are legitimate columns and pillars of Asian culture. Somebody's saying I'm kind of the opposite. I wish I could be good at something stereotypically Asian.  I always had bad academic performance. I'm unemployed. I only make a part time income. I'm unmarried at 35. I can't read Chinese. I know very little science medicine engineering tech. I fidget and I can't concentrate. I wish I could be more Asian. Wow. Wow. He's kind of saying like man I would love the structure and the focus to be a stereotypical Asian. That's very interesting. Right. He's talking about what being having the what the filial piety or the Confucianism or some sort of scholastic aptitude that was more heavily had weight on it in the East. Perhaps the grass is always greener, my fellow. Yeah. But I mean it's not the same when you go to Asia. There's there's bad students too. Yes. Yeah. It's just a lower proportion ratio because all the parents are kind of Asian-y. This guy was saying one of the great privileges of living in America as you can be an individual and carve your own lane. I will agree with this because you look at Jamal Williams in the NFL. He's always like, you know, Sergeant First Class Swagger Kazakage. You know what I mean? Like he's in the NFL and he's promoting anime every day. He's doing the reverse in the sense of like he's probably very rooted in African American culture and the masculinity surrounding that. But he's trying to promote something that's outside of that street. Right. So I guess shouldn't these people like be like yeah, it's all about how you represent it too. Yes. I think I think America is all about marketing something, man. If you market it like it's the coolest thing, super confidently and you're unapologetic and you've mastered it, that's the best way to convince people or something. But are you saying that you can't just live in it in an aloof, detached way not understanding how everybody's perceiving you though? No, yeah. Like I, you know, obviously everybody loves Jackie Chan. Jackie Chan admittedly doesn't know a lot about certain American cultures but he's unapologetic about it because he's mastered his world. So once you know you've mastered a world, you're able to confidently use that to share with other people and I think that's the best. You know what it is? How about this?  Like don't be completely unaware of how they would perceive it. Right. So anyway, Andrew, ultimately what's your final takeaway, man? I think that people want to be into Asian culture the way their parents or their grandparents were but they don't want to feel like they're just like living in that bubble. They still want to know like, you know what I mean? I think people want to bring something to the potluck of America even if they're stereotypical Asian things and have other people sample and enjoy and be exposed to them but sometimes there's a disconnect between being that thing and then being like a PR rep for it to other tribes. Yeah, yeah. I feel like in general don't stop consuming and being who you are. You know, be into all the Asian culture that you want but I do think at the end of the day people are going to respect you for being like effective, effective in your life and effective in the world.  You know what I mean? Ultimately that's the best way for people to respect you regardless of your interest.  You're saying whoever is out there from other tribes is going to feel drawn to it if you just confidently project it and you sort of like just display it in an appealed way. Dude, all the coolest Asian icons that we have from the past to present had some stereotypical traits. None of these Asians were 0% stereotypical. Alright, I'll share a talk about Jeremy Ling going to Harvard and getting a perfect SAT score. Even Bruce Lee, Jackie Chan, what are they stereotyping? Jackie Chan, Marshall Larch, speaks with an accent, sounds like a Cantonese dad or even Simu, I'm saying Simu loves Boba, he speaks Chinese, he's a nice guy, he's that stereotypical for an Asian icon.  But then they also have traits that are not too. Exactly, so the best place is the mix but the stereotypical things that you have about you balance out with the other things that you're good at that are like, I guess, non-stereotypical. Yeah, yeah, yeah. I think there's a difference between like always having this tractor beam of like stereotypical Asian things and they're like still pushing outwards but still always having that almost a hiking carabiner wire that's like tied back to the old thing. I will say this too, if you don't want to adapt, let's say for example, there's a young girl who looks like Constance Wu, right? But Constance Wu grew up in Virginia, very, very, very upper middle-class whitewash sort of upbringing, right? And this girl's growing up deep in K-pop, K-dramas, J-pop, you know, Wu and everything like that. This girl that looks exactly like Constance Wu but doesn't act like her can be a famous Twitch streamer and still have an entertainment in media, being an independent producer and still doing her own brand deals and like acting in her Twitch world versus like trying to navigate Hollywood where I will be very frank, Hollywood is a world you need to generally 99.99999% of the time need to have a very deep understanding of cultures, not your own if you're Asian, whether that's white or black culture, you will need a very deep understanding of that to navigate that particular ladder. So that may, you know what I mean?  Right. Yeah, I would say, but yeah, as far as like things they could do, man, like for this guy who's a Taekwondo assistant and he studies Kung Fu, I would say like, maybe you might feel a little less stereotypical if you also picked up like and went to a boxing gym, you know, boxing gyms are very American, that's an American martial arts. Right, that's a Western martial art. Yeah, that's a Western martial art with Western people and, you know, then you're around other people who are respectful of a martial arts, but not and can respect you, but maybe from a different culture because anybody- They're not going to know what who-who means at the boxing gym. Because anybody who joins a Kung Fu class or a Taekwondo class are going to be like more open to Asian culture already. So that's a self-selective population. But when you go to a boxing gym, it's very American. Like they might not know anything about Asians. So you're saying, don't view your love for Taekwondo or Kung Fu strictly as, oh, it's an Eastern thing. It's an Eastern thing. Yes, it is. But it's also just a martial arts thing. Yeah, and you can relate to other martial arts people that way. It's a combat thing. Yeah, anyways, you guys let us know in the comments down below. Do you ever feel like an Asian stereotype? How stereotypically Asian are you? Put yourself on scale. I gotta say, I would say the most stereotypical thing about me is just for sure. I mean, that's at a 10 out of 10 is a love for really deep cut Asian cuisine. I don't even care if it's, if it only exists in like three provinces or two villages of any country in Asia, I want to try it. You know what I mean? I don't want to just try the top 10, top 20 dishes. Give me number, dish rank 642 in that country. Oh man, I think I got some pretty stereotypical facial features. Yeah, you know what's interesting? You know, I feel like people more have visually identified you as more stereotypical than me off the bat. Like when they looked, I remember one time you were in a rap battle back in the day when that, by the way, that was huge. They were like, yeah, put down the mic. This Asian looks like he plays Counter Strike. And you did play Counter Strike. A little bit, yeah. But I wasn't a big gamer either. All right, anyways, guys, let me know what you think in the comments down below. It was an interesting discussion. And until next time, we out. Peace.


Before understanding the hedge positions in interest rate future contracts, it is good to understand the mechanics of pricing treasury bonds and treasury bonds forward contracts. Let discuss the pricing of a treasury bond as a hedge tool. The power value of this bond is $1,000 with annual coupon rate of 8%. So the semi-annual interest payment on this bond is equal to $40 each. The bond has maturity terms of 20 years. Now how to price this particular treasury bond? There is a tool that is the discounting. We can use the discounting of each bond's periodic payment and the payment of its face value at its terminal life at the certain discount rate. And that discount rate in our example is termed as the spot rate. This spot rate is denoted as capital R in this particular case. So we see that each spot rate or the R is expressed in semi-annual term. So each spot rate is equal to 3.92%. Now this is a one-period spot rate to discount a one-period cash inflow on the bond. Now we have 40 periods on this bond, accordingly 40 payments on this bond. So we will be using 40 spot rates to discount 40 payments in order to determine the price of the bond as of today. Now let's come to the pricing of a forward contract using this treasury bond as a forward. We see on the screen two types of cash flow, one is in purple and the other is in green. The purple cash flow is denoting the cash flows on the treasury bond. It starts from March 1 and ends on March 1 of the 40th period. So there are 40 cash flows on this treasury bonds. The other cash flows are related to the treasury bonds forward contracts and its cash flow is starting from some later period and that is September 1. Accordingly it is going some one period further that is for the first period. Now imagine a forward contract on this treasury bond. You see that on March 1, person is agreeing to buying a new 20 years 8% treasury bond in 6 months. That is the payment will be done on September 1. The payment under this forward contract or FC is on the March 1 and not is on September 1 and here that not on the March 1 at zero time period. The cash flows on the treasury bond begin exactly 6 months earlier than do cash flows on the forward contract. This means that cash flows on the treasury bonds are starting at time zero whereas cash flows on the forward contracts are starting at period one. Now let's see on the cash flows on this treasury bond. You see that cash buying of treasury bond is on March 1 and that is time zero. The first coupon payment on this treasury bond is going to happen on September 1 and that is the date one. So there would be as many as 40 payments and a payment on face value of the bond and these two payments will be on the date 40. So far as the cash flows on the forward contracts are concerned the price of the forward contract on this treasury bond is happening on September 1 and that is the date one whereas there is a receipt of a new treasury bond on the same day and that is the September 1. The first payment received from the treasury bond on March 1 of the following year and this is in fact date two. The last coupon payment occurs at date 41 on this forward contract and this will be happening along with the payment on the face value of $1,000 of the treasury bond. So with these payments how this forward contract on the treasury bond can be priced? We have a tool and that is net present value. So we can use net present value analysis in order to price this forward contract on the treasury bond. So we have a model in equation form where we are discounting each coupon payment using a certain spot rate. We see that the first cash flow occurs on the date two and that is in fact the March 1 of the following year or the year two. So this payment will be discounted by R2 or the spot rate two. The last cash flow that is the 41st cash flow which is the sum of the 40th coupon payment and the face value of the bond. It is occurring at date 41 so this amount will be discounted using the spot rate 41. The left side of the equation represents the cost of the forward contract as of date zero. So this cash flow at date zero will be discounted using this spot rate one because this is the first cash flow occur at the forward contract. Now if these spot rates are known by the investor in the market place then we can easily price this forward contract using the process of discounting and with the help of determining the net present value of all these cash flows the forward contract can be priced to a certain value. But what will happen if there is any change in the spot rates over the terms of 40 periods of semi-envolved. In case of rise in the interest rate the treasury bond will have a lesser net present value the value of the forward contract will go down conversely if there is any fall in the interest rates in the days to come then the treasury bond will have higher net present value and as a result the present value or the value of this forward contract on the treasury bond will go higher.


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Zero Accounting Software 2023 Short Term Investment, Sale, and Gains.  Here we are in our Custom Zero homepage. Going into the company file we set up in a prior presentation. That being, get great guitars. Duplicating some tabs to put reports in like we do every time. Right-click in the tab up top so we can duplicate it. Right-click in the duplicated tab for another duplication of the tab. Going back to the tab to the middle as the one to the right is thinking. Accounting drop-down we want the balance sheet. Then we're going to tab to the right. Accounting drop-down this time instead of the income statement. I have that custom report we made last time which is a comparative income statement allowing us to see the two months of operations thus far as we do the data input. That being January, February, and the change. If you don't have that you can just open the normal income statement and that's fine. Back to the tab to the left and let's change the date range. Drop-down, customize 2023. End of, I'm just going to go to the end of the year 2023 and update it. Alright, so we are continuing on with the second month of operations. We're going to continue with a few transactions that are not like normal and that they're not basically the day-to-day type of transactions. Last time we did a loan payment. This time we want to take a look at the short-term investments that we put on the books in the prior month. And we want to first just mention the different kind of complexities that happen with short-term investments. For example, investments in stocks and bonds. First off, note that if this is our business and we sell inventory and or do guitar lessons that investing in stocks and bonds is not the primary goal of this business. It's not what we do to generate revenue. And therefore we wouldn't normally put our personal investments in our business bookkeeping. We might have another zero accounting software to track our personal side of things, for example. So that's the first thing to note. What happens when you make a lot of money in the business and you got money in the checking account? Well, then you might want to invest it, but typically for accounting purposes you would take it out of the business in the form of a draw, right? Equity goes down, cash goes down, and then personally invest it in stocks and bonds and possibly track it on your personal bookkeeping side of things, possibly using zero to do that. Now, if you have short-term investments within the business, meaning you have excess cash, you're going to use that cash in the business, but you want to put it somewhere else for now to pull in some dividends and interest, hopefully, as you're sitting on the cash before you spend it, that's when you might park it into stocks, bonds, or some kind of savings accounts or something like that. So we're going to imagine this is in stocks and bonds for a short-term time period, but when we start to value the investments, you have a similar concept, whether you're talking about your business books or your personal books, and that is that the short-term investments will have income, hopefully related to it, in the form of interest, which typically is going to happen if you are invested in bonds, in the form of dividends, which will typically happen if you're invested in stocks, and hopefully capital gains, because the value of your stocks, for example, will go up in value, and then you might have capital gains. However, you don't actually realize those gains until you sell the stock, which adds its own level of complexities. Now, also note that when you're investing in stocks and bonds, it's common that you might not invest in individual stocks and bonds, but in mutual funds, using tools of mutual funds or ETFs or something like that to invest in the stocks and bonds, and you might have multiple mutual funds that you are investing in. Notice that on your zero accounting balance sheet, you probably do not want to list out every individual stock, maybe not every individual mutual fund or ETF, possibly only breaking out by investment institution, such as a Vanguard or your Bank of America or whatever, the institution is E-traded that you are investing in. You might want to list the actual investments, and that's one way you might want to break them out, and then when you want to look at the more detail of the investments, you look at other software, or you go to the actual platforms themselves that you're invested in to get the detail of the performance of the particular portfolios that you are in. Otherwise, you're going to make a lot of work for yourself in the accounting software, because it's not really designed here to give you that detailed analysis. It's designed here to give you the kind of overall big picture of the balance sheet, is how I would typically think of it. The other way you might want to break it out is you might be able to break out between bonds versus stocks. However, that will be difficult if you're investing in mutual funds, which have a mix of stocks and bonds. You also, if you're on the personal side of things, might want to break out between short-term investments, possibly those that are not under the umbrella of some type of retirement account, like a 401K or IRA, and long-term investments, those that are under an umbrella, because you can't pull those out until retirement, and you might have more tax implications if you were to pull them out. That might be one way that you break out your investments as well. Now also, just realize that there's other software that you might look at that can track financial investments. I think there's a personal capital has a software, I think, which might be, I think they changed names or something, but some software can pull in the ending balances from the financial institution. So you might say, hey, look, I'm connected to the bank. Why doesn't my balance sheet here show me what is exactly in my bank account? You might have your checking account not match out to what's in your bank account. You might say, hey, look, why can't I connect to my financial institutions in the same way and show my balance sheet balance as it shows on my statements? And that's because accounting software such as Xero is not designed to do that. The accounting software is designed to look at the detail, the transactions to reconcile to the bank if it just pulled in the ending balance from the financial institution, it would give you an income statement, but not an, I will give you a balance sheet, but not an income statement. We wouldn't have the detail. So you could work your investments in alignment with other software, software that can pull in just the balance sheet information, the ending balance where you stand at any particular time. That's not what Xero accounting software is designed to do. You have to make adjustments to it. Okay. So that said, you, if you have dividends and interest as you accumulate the dividends and interests, if you're taking dividends and interests and income, your checking account will go up and you can record dividend and interest income on the income statement as that happens on a cash based system like you normally would. However, if you're getting dividends and interests and they're rolling that back into the investment, then you want it, then when you get the dividends and interest, you're not going to hit the checking account, right? So it's going to be coming back into your investment account. So you'd have to record dividends and interest and then an increase to your investment account because that money had been earned and then put back in as though they gave you the money and then you invested it again in the stocks and bonds, right? And then you're going to have capital gains or losses. And those are not going to be realized until you sell the stock. So for example, if this stock goes up in value to 12,250, I might adjust for that periodically when I have my bank statements. I might say, hey, look, I'm going to report this at the current value, 12,250, not 12,000. This is what I invested, but then it went up in value. Why would I do that even though I haven't sold the stock when I don't do that for things like fixed assets? Because the stocks and bonds are traded on the stock exchange and it's similar to currency in that you have standardized units of stock and therefore we know exactly what the price is because other stock is trading for that price at that time. So although it will fluctuate over time, at least I have a pretty good idea of what the value is. Unlike fixed assets, property, planting, equipment, where every fixed asset is unique, every car is unique, every building is unique. So you can't just sell your car like that, like a snap the fingers for the same amount as a similar model because your car is different than the other model even if it was made, you know. So unlike stocks, which are all the same. So there's an argument for adjusting the value of the stock, but the problem is if I increase the value of the stock, then where does the other side go if I have not yet realized it? I'm going to have to increase this with a journal entry. It's not going to go through the checking account. I'll do it periodically. The other side could go to a liability, I mean an equity account, but normally people just put it on the income statement as other gains and losses, which if you did, you probably want it like at the bottom possibly as other income so that you can see income from normal operations as well as the income that's not from normal operations from things like unrealized gains. Okay, that said, we're going to imagine that we're actually going to sell this investment now and get the cash for it as though we're going to use the cash then to purchase more inventory and fixed assets, but when we sell it, the price went up and we're going to sell it for $12,250. So we would see the $12,250 if using bank feeds hit the checking account when we sell it if we did an electronic transfer, but we would have to then, an electronic transaction, we would have to then, I'll record two accounts. And this needs to go back down to zero. We don't want it to be a negative 250, right? And then the 250 would be a gain, which we're going to report on the income statement. All right, let's see how it would work. We can do this with a deposit form, a money in form. So I'm going to say this is a receive money form. And we're going to say it's going into the checking account and let's check it out. So let's say it comes from, we'll just say Vanguard. Let's say that's who we are getting the money from. Let's say it happened on the date of 2-2. So I'm going to say Jan-Feb-2. And then we're going to say description sale of short-term investments, something like that. And we're going to say 12,000 is going to decrease the short-term investment account. And then the other side is going to, we're also going to have 250 to make the full amount, because we're going to get a deposit for 12,250. And this is going to go into, we're going to make an income account, unrealized or realized gains and losses. So we'll say gains and losses. Now we're not going to have, this is our income accounts thus far. They don't have anything for uncategorized other income. So I'll make another income account. So let's see down here, we've got then the expenses. And they do have realized currency gains. That's interesting. But I'm going to put it into other income, which I'll name down here as let's say 8300. I'm trying to find a number that will work. Let's say 8300. I'm going to say on the income side of things, it's going to be, I'm not going to put it into normal sales or revenue. I'm going to put it into other income, which normally will be at the bottom of the income statement. So I can break it out as opposed to the normal income at the top. And we'll see what that looks like in a second. Let's save it. We'll check it out. I need a name. That would be good. Let's say gains on sale of investments. Okay. Okay. My finger is not working. They're in the wrong spaces. All right. Let's save it. All right. So there. So what's this going to do? It's going to decrease the checking account by the full. I'm sorry. Increase the checking account by the full 12,000 to 6250. It's going to decrease the short-term investment down to zero. And then the gain is going to go on the income statement, but the bottom of the income statement for the for the 250. So let's save it and check out and see if that is indeed what happens. So let's go on over and say update the balance sheet and go into the checking account to check out the checking. Check it. Check it. Check it out. We're going to go down and say we have the there it is 12,262. Is that the 12,262? It is, but it recorded sales tax. Hold on a second. I'm going to go into this. Let's drill down on this thing. I didn't want any sales tax options. Let's edit the transactions and edit por favor and say, why did it do a sales tax? I must have hit that on accident. No sales tax and then update update. Now I'm going to have to open my balance sheet back up again because I messed it up. So let me open up the balance sheet and then change the range. The home on my range needs a change because it's it's leaking. The roof is leaking on my home on the range to change. Okay. So there we have it. And then so we then recorded that. Then the other side, the investment is gone now because it went down to zero. So we don't have the short term investment. And then on the income statement, I go to the income statement and up to date it up to date it. And then I go down. We have the gains and losses in the other income. So notice we put it down here as opposed to the income line item up top because the idea being it's not part of our normal income. This is not what we normally do. We're not in the business of selling buying and selling stocks. We're in the business of selling guitars and doing guitar lessons. And so we're going to put it as an kind of an more of an unusual thing at the bottom. So we've got net income from normal operations then, which would be here. And then we've got the other kind of more unusual transactions that we broke out separately. So we can get to this net income first and then see that that difference down here. And so that's the rationale for putting the gains and losses down below. Now this gain and loss note that we actually realized the gain and loss here. Whereas if you were recording gains and losses periodically that are unrealized in alignment with just the the financial statements, then then you might record unrealized, you know, the unrealized gains and losses that you might put down here in a similar fashion. All right, let's open up our trial balance and see where we stand at this point in time. So I'm going to go back up top, go into the accounting drop down, let's go into our reports. And type in trustee trial balance, trial balance. The balance is on trial changing the date range with the drop down custom date range 2023, the end of it. We're going to update if your numbers tie out to our numbers. That is great. If not try changing the date range. If your numbers were on last time at the end of the last presentation, but they're off this time, you would think the things that were changed would have been either the checking account because we did something to that. We decreased the investment account, which is gone completely at this point in time because we took it down to zero. And we had a change to the account down here of gains on sale of investment. This one being a little bit confusing when you look at the income statement because it kind of grouped them up here where the income side of things are instead of down below because it's an other current, an other income account as we saw it on the income statement.  So there we have it. If something is off, you can try to drill down on the number that is off. If it's a date issue, go to the source document and see if you can change the date to what it should be.