How can we practice self-forgiveness? And why does it matter? That's the topic that we're going to be exploring in today's podcast. Let's jump right in. Self-forgiveness is a topic I find myself drawn to today because I haven't been doing it as well as perhaps I might or should just lately. We're going through a bit of a transition in our household at the moment as we move from school-school to homeschool. And as somebody who teaches and talks and researches a lot in the area of emotionally-based school avoidance and has spent many, many countless hours in fact teaching people how to enable their children to stay in school, I found this is slightly challenging transition personally to get my head around because I feel like I failed, if I'm perfectly honest. And I haven't. Objectively I look at it, I'm making the right decision for my daughter and it's the right thing to do, I believe. But it's hard to get over that feeling of failure. And I haven't voiced this until I met with my good friend Carl the other day who's my climbing buddy. If you're listening Carl I don't think you do but if you're listening Carl thank you for being such a good friend and such a great listener. He's my climbing buddy but you know also works in the field so we tend to have some really, really good and deep conversations together when we're climbing. As I've said on so many previous episodes, doing alongside is a really, really great way to get talking and to get past the kind of difficulties of knowing where to go with those conversations and allowing silences to naturally happen and so on and so forth. So we climbed and we talked and yeah I explained to Carl something which perhaps I hadn't quite addressed for myself that I felt like I'd failed. And he picked me up on that and we explored that a little and I've been reflecting on it since. And so hence I'm thinking today about self-forgiveness. It really, really matters and many of my episodes are more about how we can help the children and young people in our care and perhaps this feels a little bit different. But actually this forgiving ourselves, being kind to ourselves, showing self-care and kindness and compassion is actually a gift to our children as well as a gift to ourselves. So I think the first thing to remember when we're thinking about this about self-forgiveness, self-compassion, self-kindness, self-care is that when we're being harsh on ourselves in this way, perhaps like me, you feel that you should have done better at something, that you failed at something and you're generally beating yourself up about a decision that you've made or a way that you've done something.   I wish I would have known then what I know now and I wish I would have done things differently. Sometimes when people learn with me they even fear that they may have done harm to children and young people in their care completely unknowingly and completely unwillingly because they didn't have the knowledge, the information, the skills that perhaps I hope that they're going away with after one of my sessions. Self-forgiveness is something that we touch in on then because the thing is, you can only ever do what you can do at the time. You can only ever work with the knowledge, the skills, the information, the resources that you have now. You can't work with the resources or the skills of the future. You can't work with the resources of the past. All you've got is the present moment and so when we look back and we beat ourselves up for not doing something differently because we know something different now or we've learned things a better way, it's wasted energy. We can't change the past and we did the best that we could and so often, particularly if you've got big issues that you're kind of, you regularly return to when you beat yourself up regularly, what is really helpful is just to think well what could I have done differently at the time? What was available to me? What did I get wrong there? And so often we really think about it. We did do our best. Most of us, and by us I mean my amazing network and community, so many amazing people who tune into this stuff that I keep rambling on about. This population, I've gotten to know you well over the years and you're not one a modernist lump, you're all different, but you all share that you deeply, deeply care and you all share that when we begin to pick stuff apart, absolutely, I think without exception when I've started to look at these things with you guys, always you will have done the best that you could and there might have been all sorts of limiting factors, whether that is your knowledge, your skills, your resources, the emotional resources you had available at the time, what you were allowed to do, the confines of a role, whatever. Those things may have stopped you doing being what you might want to be or do now, but you did the best that you could and that's really really important to acknowledge and to forgive ourselves and just saying you know I did the best I could and then we look forwards rather than looking back because when we keep looking back and we have one for in the past, that's really really challenging. That leaves us with all these kind of big feelings that take up a lot of space guilt, shame, anger, sadness, these are all absolutely valid feelings, these are all things that we're allowed to feel and we should feel those things sometimes and we should process them and explore them and get curious about them, but they're big feelings. They take up a lot of our emotional energy and chances are if you're listening to this podcast then either professionally or personally you've got a lot going on with the children and young people in your life and you're giving and you're giving and you're giving and that's amazing and that's absolutely laudable, but if you're filling up your head space, your emotional space, your ability to manage things with these big feelings about your past things you can't change then really that's slightly wasted emotional energy. My friend Jo, I have a lot of good friends I'm really really lucky, my friend Jo who many of you will have heard me talk about before, the post-it note guy if you've heard the post-it note story, my friend Jo at one point when I was going through, it was a few years ago now, going through kind of beating myself up and we were in the lobby of where we worked, so he used to be my boss and we were in the lobby and there were TVs on with the news playing, it was a kind of shared charity type space, there were TVs playing with like sky news or something and it was you know one of those kind of constant news loops going on on the TV in the background, he just pointed up and he went right so this this war that's going on how's that your fault because everything seems to be your fault, you seem to take the blame for absolutely everything, no one else is culpable, it's all down to you so how are you responsible for that on the TV and of course I wasn't and I didn't feel I was but I suddenly understood from his point of view how I was presenting to the world like sucking up all this guilt, this shame, this blame from all the different things around me and sure things were pretty tricky at that time, this was when I was deeply struggling with eating disorder, suicidal issues, all sorts of stuff, it was prior to my diagnoses of autism and complex PTSD both of which I've had great support with since and things were really really hard and in particular as a parent I felt a lot of guilt because I didn't feel I could be the parent I needed to be but I was just then over generalising that everything became about me and it being my fault which is quite an ego centric and self-centred way of looking at things really and Joe said to me that day said it's a waste of energy, he said you've got so much that you're investing here in terms of that emotional energy and you're feeling really guilty about the parent you're being to your daughters why don't you try instead of using that energy upon anger guilt shame and looking backwards use that energy for love kindness care now or we're looking forwards into the future about how you want things to be and use it to motivate you for change from moving on from where you are right now but using it for looking backwards that is a waste of energy that is just throwing that emotional loose change down the drain and I found that to be a really helpful if quite harsh lesson sometimes we need quite harsh lessons because we don't hear them otherwise so I was wasting that emotional energy these are big feelings they take up a lot of space and time in your head and you only have so much capacity so I suppose that's the thing I would say is that it can feel like maybe we feel like we deserve to be beaten up about this stuff but if we've got other people in our life that we want to be able to give to and care for and enjoy being with then we need to create enough space to be able to do that and that might mean actually practicing a little bit more self kindness self care self compassion self forgiveness and just kind of moving on from something of that some of those feelings the other thing that I think we should think about is what kind of role model we're being so when we are full of remorse and regret and shame and we're kind of beating ourselves up all the time that can feel like it's just about us and that maybe you know we think we deserve it and there's all sorts of different stories that we might tell here but we don't live in a little box where no one can see and interact with us we're part of our wider community and network and we need to just think about what kind of role model we are when we're being awful to ourselves like that because what our colleagues see particularly those who are more junior to us and absolutely what our children see are ways that they learn of being when they see us behave in a certain way they learn this is an acceptable way to behave whether we are beating ourselves up for how we look maybe you've got body image issues and your kids whether in your class or in your home here you see you looking at yourself and wishing you look different and saying things about your weight or how you appear or maybe they observe you beating yourself up for not doing things better and feeling like a failure and just the little tics that we have each day where we kind of mean to ourselves I have to watch myself on this one I spend a lot of time going oh pookie and I tell myself off but when my kids see me do that when they see me beat myself up what that tells them is it's okay to be unkind to yourself and there's no way I would tolerate them being unkind to each other in the way that sometimes I can be unkind to myself and so if we don't want them to be unkind to each other we certainly certainly don't want our gorgeous wonderful lovely most of the time children to be beating themselves up so we need to just think what are we showing them what are we telling them through our words and actions about how we treat ourselves instead in an ideal world we would role model self-care self-kindness self-compassion think about how you want your children to be how you want their lives to be how you want them to feel about themselves the relationship you would like them to have with themselves that relationship is one you're going to have to role model and that's hard and maybe we need like a whole other episode on actually how we practice self-care self-kindness and self-compassion because today is about self-forgiveness and trying to move on from the really tricky stuff but moving on from that and then into this golden zone of actually being really nice to ourselves well that's that's quite a big big leap and can feel very hard particularly if you spent a lot of time beating yourself up in the past so let's today be thinking about how do we get to neutral and how do we try to stop beating ourselves up so much or at least acknowledge that we should try self-care self-kindness self-compassion these are things we would love our children to live by so we are going to need to show them how because they can't learn it if they don't see it but we might go there another day but it is just worth checking in just acknowledging that the children in your care whether they are your children in your home or your children within your professional role they need good role models they need to see what good looks like if they're going to be able to achieve it I mean they might get there eventually otherwise they might see it through other people less important adults in their lives they might pick these lessons up from they might kind of stumble there through some sort of journey of self-discovery but they'll get there a lot more quickly and a lot more soundly if we show them and teach them the right lessons and the other thing we need to remember is that as important adults in the lives of young children lessons that we teach them now are lessons that are really hard to let go of my husband and I were chatting about this the other day about how you so blindly take on the lessons that you hear and the lessons that you see and the things that you're told and shown by the adults in your life when you're very small and it can take till now I'm 40 and I find myself occasionally just picking myself up and questioning a very deep core belief that I'll have that's something that I learned from an adult when I was like four eight ten up to about that age just unquestioningly take these things on and we can use that actually to our advantage by role modeling the lives that we would like our children to grow up to have so they unquestioningly take on board self-care self-kindness self-belief matters or we can do the other thing and show them that it's okay to beat yourself up it's okay to be unkind to yourself it's okay to sit and dwell in these feelings of shame and anger and sadness we can kind of choose a little bit here and it doesn't always feel like a choice because sometimes we're overwhelmed and if you find yourself really overwhelmed with all these big feelings and you're thinking okay boogie I get what you're saying and now I feel guilty because I can't move on from the guilt and the shame this is the point at which we then need to think where can we go to start to unpack this maybe you're fortunate to have a friend like I do who you can begin to explore that with or maybe this is a moment when you think about some professional listening working through these things to begin to unpack them if you're not able to sort of begin to move on then actually getting some support there to really begin to unpack stuff can really help I did have to do that I've invested many many many hours of my life in therapy in looking back in order to enable myself to begin to look forwards and it's much much easier to do it day to day now but I'm not suggesting it's a quick and easy thing so we've thought about the fact that we make the best decisions that we can at the time with what we have we've thought about the fact that those big feelings take up a lot of space and actually we would like to inhabit that space with more positive things and we've thought about what kind of role models we are the final thing I just want to address before we wrap up today is the idea that when we have this kind of unkindness to self it doesn't just hurt us and it really does hurt us it really wears us down over time and feels horrible life's just a little bit less nice when you're being horrible to yourself all the time and but it doesn't just hurt us it actually kind of hurts all the people around us because people who love us don't want to see us hurting and even if we're trying really carefully to like limit how much of this we're actually sharing saying out loud if we're spending a lot of our time living in those kind of pools of regret and shame and guilt and anger itself that's not something that's going to not be observed by those around us they will worry about us they'll feel sad for us they would hope that we could be happier with them and so what we really want to be able to do if we can is to try to move on to at least some of the time some of those kind of happier feelings so that not only we feel a little bit better but actually it's really nice for everyone around us to be able to live with love with that person who's allowing themselves to be a little bit kinder to themselves who's not denying themselves joy and happiness and kindness and all the good things it can feel like we deserve to be punished this might be you know core belief that you have that you deserve this you deserve nothing better and it's all about you but just remember you're not the only person in your world and when you are mean to yourself it's not so nice for the people around you and I think this one I struggle with a little bit because actually I spend a lot of time trying to say you matter and you've got to put yourself first and you need to think about yourself before other people because you can't be the adult that you need to be to the children in your care if you don't first look after yourself etc etc etc but I know you guys well and sometimes the only way that you're able to give yourself permission and I say you and I mean I as well sometimes the only way we can give ourselves permission to do nice things for ourselves is when we know that that will be to the benefit of others and it would be great if we could move beyond that if we could do nice things for ourselves just for ourselves but that's difficult and sometimes that stepping stone is recognizing okay but actually I need to change what's going on here I need to change the record because this broken record is not just harming me maybe you feel like you can live with that but it's harming the other people in my life as well those people about whom I deeply deeply care and if you can't do it for yourself do it for them it's not just hurting you it's hurting the people around you and if you're able even just to have little windows where you allow the joy to creep in through the cracks and you allow yourself to feel that happiness where we just have a little go a bit of self-care self-kindness self-compassion you'll find that some of those relationships will begin to really move on you'll see so much joy and kindness reflected at you from those people around you it's hard and it's something that you you know you don't just make a decision one day and that's it this is a constant battle particularly if you've had a lifetime of engaging with these challenging thoughts and feelings about self but like many hard things it is a battle that's really really really worth fighting and my sort of top tip here I suppose is just to become a bit more mindful about the thoughts that are passing through your head all the time because when we notice what we're doing then we're more able to change it it's not instant but when we begin to notice some people that I've worked with that have supported do not even realize a tiny bit quite how much self-hatred, harm, nastiness is going through their heads all the time and when we begin to explore that and voice some of those feelings allowed we just think gosh you would never treat another person like this try please to treat yourself a little bit more as you would your child or your friend or your dog be a little bit kinder so start by noticing and getting curious about where did that come from what's an alternative or my favorite from good old Matt my therapist what's the evidence for that thought I find that as a scientist I find that the most helpful question what's the evidence for that thought and is there an alternative explanation do you know what there's usually very little evidence other than sometimes something I'm carrying around from a very abusive relationship in the past that's not evidence that's conjecture from someone who does not deserve space in my head and so there's often not actually any good evidence because we've got to be critical consumers of our evidence and there normally is another way of thinking if I'm prepared to look for it so to wrap up I think we can think about aspiring to how we would like to feel so thinking about this in the round thinking about okay let's try and move towards practicing a bit more self-forgiveness being a bit kinder to ourselves we want to make life feel not just better for ourselves but for those around us and to use our emotional energy on the good things rather than wasting it on the big challenging horrible stuff we'll do a little bit of that sometimes we need to but largely we want to spend ourselves in the here and now doing the good things and a way of doing that is to think okay how do I want this to feel to spend a little bit of time going there imagining it wondering about it exploring it being really curious about it and then trying to act as if acting as if is such a powerful thing to do because we can't necessarily change everything right now but we just ask ourselves the question okay if I wanted to feel like that what would that look like how would I act if I felt like that and we just get curious and we just do our best acting for a little while we act as if as if I love myself as if I was able to forgive myself for this thing that happened and we explore what would that look like and can I give it a try and just see how that feels and be a little bit curious about it and don't just be curious about how it feels for you be curious about how when you act as if that impacts on the other people around you as well as ever the regular caveat about you know not trying to encourage everyone to mask all the time this is a little bit different this is about trying to connect with a different part of self but yeah don't spend your whole time acting and masking that's not what I'm trying to tell you to do not not suggesting you know you've got difficult stuff going on park that be happy this is actually going a little bit deeper and thinking what would it feel like what would it look like day to day if I didn't hate myself if I didn't spend all day beating myself up about this thing that happened in the past what would that look like and can I act as if that were the case and get curious so be kind to yourselves please thank you so much for listening in I hope there was something here to make you think a little bit of a different exploration today thinking about ourselves a bit more but as I said at the beginning it's really not just about ourselves this impacts so much on those around us as well and we can be good role models to them and lives get better life gets better for them as it gets better for us but you know what it is okay to invest a little bit in ourselves just for ourselves too good luck with it I'd love to hear how you get on and if you have any tips or ideas for exploring these ideas around self-kindness care and compassion and drop me a line on the socials if you would like an episode around self-care and kindness and exploring what that really looks like and going deeper there I think that could be a really interesting one to explore if you're up for it okay until next time over


Good evening everyone and welcome to the second masterclass of the 17th Gibraltar International Chess Festival And here with me tonight to give the class is Sara Sara Sara Catamel Chariot from Iran who's having a fantastic event So tell us about your tournament here so far. Well, first of all, I'm very happy to be back again I remember two years ago. We also had a masterclass with my friend Otusa. That's right Yeah, and I'm very happy to be back here, but yeah, so far my tournament has been going on very well and I think I did more than I expected so I'm quite happy with my results But in general your form has been fantastic in recent months. Yeah, I can say last year. I didn't have a good year I lost probably around like 50 rating points, but In my previous tournaments, I got it back somehow. So now I'm having my best Rating you're up to something like 24 98. Is that right? 94 I think Well number 12 something like this. Yeah, yeah, unbelievable. I mean fantastic. Thank you You also did really well. We can talk about this later Maybe but you did fantastically well in St. Petersburg Sara won two silver medals and a gold medal Yeah, yeah in the women's blitz the women's rapid These are the world championships and the combined you got the gold Well, actually that tournament is one of my favorites because I really like their rapid chess I mean, it's more fun. I think compared to the standard tournaments, but We missed the previous one because it was in Saudi Arabia So we couldn't play because of the visa but this year I tried my best to play there and actually it went out very well Okay, so you're in great form. We don't know yet who you're playing tomorrow because I think there's still some games Yeah, I think so So it's a bit early for the pairings, but anyway three and a half out of four now You've chosen a game from this tournament to show us. Yeah, first. I wanted to show a game from the Bundesliga that I recently played I Played with Kostin you she was actually one of my idols when I started playing chess So it was very interesting for me that I could beat her So first I wanted to show that game But I think the games from this tournament are more fresh and I like them more So I decided to show one of the games. Is that the first time you've beaten Alexander in a classical game? Yeah, yeah, right another great result. Thank you So here we are so tell us about You're playing Alexander don't shank her. Well, yeah here. It was round three. So I was on two out of two This is yesterday's game. Yeah, I got double white like So here I played with him. He's I guess a very strong player from Germany is very young So, yes, he's been here many times Alexander and this is told So I always start with D4 and Before the game I saw he played some Ben Oni. So I was kind of prepared for that, but It actually got into Which in fact you heard you heard about it, right? Yeah, yeah, it happened in the game So C5 here and it goes to Ben Oni Your name was preparation. How much what you can tell us as you go ahead in the game. Yeah, sure. Yeah No, I didn't really Prepare a lot. I just wanted to get some games. So I'm a bit lazy to work on theory. So I just decided to play night D2. I think it's more Like a position that I can play on board. So I decided to go for that. All right So the idea is simple to play E4 like we usually do and Ben Oni so I think till here is the main position of the opening and A4 is one of the moves that is played It's actually useful move to prevent A6 B5. It doesn't matter if black plays A6 or not So and also the white rook sometimes come to A3. Yeah, right. It happened later in the game So here in this moment, I saw some games of I think it was 3F's game that he played night D B1. Wow, it's a strange looking move. Yeah, it's very strange but it's quite interesting because the knight goes to A3 later and Also, it has some plans to play with F4 and then when knight comes to G4 E3 squares. Right. Yeah, so you can play H3 later So it's interesting move, but I didn't remember exactly because I had to prepare for other lines So I just decided not to go for this one because it looks like a computer move Yeah, sure. I think computer is quite happy here with white's position But I was not really sure what was going on So I just decided to play with the more natural move, Queen C2. So here Yeah, I went with this idea, which was I don't know maybe not the best here Maybe RQ1 was a better move Because I think after Bg4, black is getting what he wants from Benoni I don't know. I don't see any advantage for myself here.  I mean, it's a bit weakening. I was not really happy with this So I just decided to take on G4 And here I think black is doing fine Looks like an equal position. I mean, I'm not worse, but I'm not getting something with white I wonder if something strange like knight H6 was possible with F5. Last move. A bit too strange maybe But maybe now I can go with F4 and knight c4 later on Yeah, that's extra So maybe black is not in time for doing this So here he went knight F6 And here we can... You played A5, yeah? Yeah, I played A5 Because here I could not see any ideas. I thought I can just play A5 and if the queen moves I can play knight A4 as I played in the game And A5 is... I mean, one of the moves that is always played in Benoni I mean most of the times to stop the B5 idea. So I thought it's quite useful Right So he played queen E7 You didn't mind B5, no? If he played B5 last move you have the better spawn structure Yeah, I think so because after B5 I can take if the queen takes, for example Still here maybe I can go F4 If check I can just move the king, so I don't know And if knight d3 you didn't take it, yeah But I mean last move, I mean last move Before c4 check Before c4 check? Probably just a blunder Yeah, knight d3, I will play knight c4 here Knight b4 Hey I can take maybe and then I can take, take, take You can take And then knight c7 No, but I might get myself stuck here Yeah, maybe, I don't know No idea, yeah But the Benoni is that kind of opening The Benoni is some ridiculous variations often Yeah So here I played knight a4 with the idea to play knight b6 and he played knight ed7 And here I didn't find anything better than just repeating the moves Okay, so what would you have repeated if you had to come back with knight c5 What do you say? Yeah, I think here it's just completely equal I don't have anything to try for So I was okay with the draw here Because this pawn is hanging So if I go, for example, I don't have rook e1 because he can take on d5 Of course, yeah And if f3 you don't like, that's horrible f3, you know Yeah, f3 is not a good move And if, for example, rook e3 to defend Then maybe just bishop a6, I don't know Then if f4 knight d5 again So here I thought I have to just And if you don't play knight a4 What is here? Is there anything else you could do for white instead of knight a4? Yeah, it's this position so Rook e1 or something, I don't know Yeah, but he always can play this idea with c4 and knight d3 So I think black is doing fine here So I was happy with, I mean repetition But he wanted to play on because he was higher rated So maybe he thought he had something So we repeated here and here he played rook c8 I played knight c4 which is I think normal So here I improved my position a bit compared to the other one My knight is on b6 So I think now I'm doing a bit better maybe So here I played bishop g5 because Actually this morning Serret, sorry to interrupt With Lyoncio Garcia, we do a little thing in Spanish every morning We do like a 10 minute, 15 minute slot in Spanish And he chose this game as one of his two games I started to recognize it from this position And according, I think he probably looked with the program or something With an engine and he felt that rook c7 wasn't the right square for the rook Yeah, sure Is that correct? Can you tell us about that? Yeah, because after rook c7 this rook is just stuck here So maybe rook d8 was a better move Yeah, probably, I didn't think of this during the game but I think it's right So here I played bishop g5 with the idea that Okay, I want to have some f4 ideas So here he played h6 which is I think normal reaction to bishop g5 But here I could take on f6, I missed that And if queen takes for example, I go f4 and then e5 is coming It's just much better for white Well, let's have a look, all right But I didn't see it, so I go e5 here, it takes Oh, because of d6 at some point? Yeah, then d6, I think here it was f5 something like that I didn't check it with computer actually But it was showing plus 2 or something Really? Really big advantage? Yeah, but it didn't look to me like a big advantage Yeah, actually after an a4 queen f5 is not possible because of g4 We're in the queen? Yeah, so queen d8 is the only move and then maybe d6 rook here and then something like f5 Yeah, so I didn't think of this at all And if black took on f6 with this bishop, would it be the same? Instead of the queen? So here it's fine because after, sorry I will show that, but after e5 computer shows 95 as the best move Really? It's the best move? Yeah, well So here I guess it's going to be very similar Yeah, it should be Bishop takes, yeah Yep Or maybe even 94 here is that possible? Perhaps So I think d6, yeah That might be strong move, 94, what does black play? Now we see why the rook will be better on d8 Yeah, sure Then c7 Yeah, that's probably the key move, 94, yeah Very strong So here I just didn't think of bishop f6 because it's, I mean if you don't see this idea then It's a non-natural move, isn't it? Yeah, it's not a natural move So I just played quickly bishop h4 but I was really surprised after the game to see this When you checked it, yeah So here he wanted some counter play Sometimes they lose this c-pound to get some counter play on c-file But I don't think it was a good decision Plus he could play g5, right? g5 and then knight h5 or something? No, but g5 and knight h5, I thought I could go knight e2 Oh, okay And f5 square is weak, so I thought I was doing quite fine here Well, okay, so I'll just go back there, sir Let's use f5, knight e2, of course black doesn't take on g3 Yeah, sure But knight g6 maybe or I don't know Is that possible? Knight g6? Knight g6 maybe I can go knight c4 also Can I take on e4 or maybe I don't know if I can, I'm not sure if I can Yeah, you can because both knights are hanging, yeah But also g5 is typical, but no any move, isn't it? Yeah, it is, yeah I know we can say f5 Yeah, but usually they played when the bishop is there Right, without having exchanged, yes Yeah, but maybe rook e3 But still, yeah, black gets some play maybe knight f4, for example Or bishop d4 also Bishop d4, bishop d5, I didn't know there's some Anyway, it looks Yeah, it looks better than Yeah, maybe that's the Oh, you could play bishop b2 after knight h5 and you don't have to play knight e2 maybe Yeah, sure But he played c4 Yeah, here he played c4 And I want to play f4 and take the pawn Rook e4 for us, right? I don't see any defense for that Any defense? Do you get nervous during games, by the way, in the middle games? Not really, I mean I just try to enjoy the games here So sometimes when I get better positions, like today's game, when I was playing with Aronia And I got really nervous because I was having a good position And somehow I just missed something So I got nervous because I thought I missed my chance, but later on I managed to defend that Have you ever worn one of these heart monitors you know that we're using here in some of the games? No, I didn't, I really wanted to try it on, yeah Okay, you heard that Wear a heart, yeah, maybe tomorrow Yeah, sure Oh, that's great, okay Sorry, so where were we? So you played rook e4 Yeah, so here he didn't, I don't know, I didn't see anything for him because I will take this sooner or later, yeah So he just decided to give it immediately, which was a bit strange to me So I took it with the knight And here knight c5 is not possible because of e5 And again this d6 move? Yeah, this e5 idea was just so annoying the whole game So here he played rook ec8 Okay And here probably I should have gone queen e2 to defend my knight And probably I don't see any compensation for black, I don't know You have bishop g3 coming, don't you as well?  Rook b5, I thought of that, but I thought of queen f2 during the game And now I have, now I want to take the rook And for example if the rook moves to here, then I can go e5 Oh dear Yeah, so here, maybe he played rook c5 to play this, but he saw it later on, I don't know But here he played a mistake, he played rook e8 You see, still he could have maybe played g5, the move before you played f4 Oh I have to go back now Yeah, he didn't have time for that He didn't have time Yeah You mean here maybe, yeah Yeah, but here it's not possible It's not possible It's too late for that That's right, yeah Yeah Okay So this is a blunder, I play e5 anyways Like he's doing everything to stop e5 and still it's working So now I have this double attack Oh this is right, I remember this moment when Yonsha showed the game Queen f2 So here he thought for a long time and probably, because it's just winning for white, maybe he wanted to resign here, but he decided to play some moves Bishop g5, yeah It's a tricky move, but here I mean I can just take on f7, king goes here and rook e4, it's just over Is this the game? No, this is not the game It's not the game, right, yeah It's over Yeah, I did something that I was very upset about, I mean still it was winning, but Were you in time for trouble? No, I was, I had like No, I wonder why you're here I don't know, I just, I will show you what I missed I played rook e4 here and I thought okay, bishop e3 I will just take, I didn't calculate Rook takes c3, oh okay, this is a nice trick, this is a nice move, bishop e3 Yeah Very nice But here, luckily I had this idea to play queen f2 Still it's winning for me But I don't know if I didn't have this move, it wouldn't be so easy It's a strange tactic for black, bishop e3 and then rook takes c3 So now everything is hanging, but yeah So he has to take the rook, I take check And here I take, and I think rook is 7 Here, I mean still white is winning because I'm taking on b7, so he played this move And here I wanted to make the decision to play queen f8, king h7, rook f7, which I played it But it took me a bit long to calculate Right, right I just wanted to be sure about this Yeah, of course This is move 39 as well, you're just coming up to the first time for sure So here, rook f7, I think this is just winning D6, yeah Yeah, here maybe he has to go queen So if queen e1 check, oh that's what happened in the game Yeah, queen e1 check Of course Here maybe he has to go queen e8 Still it's winning, I have to give a check, king h7 is not possible because of queen e7, king g8 And then I go c4, probably later I can play queen e7 with the idea to c5, c6 Yeah, it's clearly winning isn't it Yeah, but here he took on c3, so with checks I can force him to exchange queens Very nice And queen e7 check Yeah queen is, he can't prevent that Very clean win, I would say After he played c4, well after black's place, probably that was the mistake, c5 I mean if I had played queen f7, I would have been so happy with my game but playing rook e4 was a bit upset, I mean it could go wrong It could have done, yeah, but okay If I didn't have queen f2, it could have gone wrong I mean against the strong young, 2,600 plus player Yeah, of course, I was happy with my game So Sarah, tell me a little bit about, maybe we have time to look at another game as well I'll pause another game A little bit about your status, if you like, your celebrity in Iran Because you're a very famous sportswoman, I suppose, you mean celebrity, you know People follow your career, they follow your games People usually, I mean before they didn't really follow chess But I can say nowadays they follow chess more than before So we are kind of, I can say known in Iran But it's also because of our boys which are doing fantastic Yeah, also we are not doing a bad job in, so I think You're organizing lots of events Yeah, that's true, we had the world championship And before that we had the Fide Grand Prix Which was for the first time So they're doing what all they can to promote chess and it's working Do people stop you in the streets and ask for your autograph? I'm more known with my name, not by my face So when usually they hear my name they would recognize me But with my face, I don't know why, they don't remember And also this event for example, actually I was sure They are operative from Iran as well here for the first time And she said that many or if not all newspapers in Iran Will be covering your results in this event Yeah, that's true, I mean even in the San Peters book For example, as you mentioned before when I got medals It was also on some front pages which was very important to me Because they pay a lot of attention to chess now So being on the newspapers front page I mean as a chess player is something I think very important What about in magazines or on TV or radio, this kind of the media Yeah, we were also invited to some national TV programs But we also went there When you say we, you mean the national team or? With the federations president also sometimes our boys get invited Sometimes I do, so yeah, I mean as chess players I say we I know that Ivan Sokolov is now coaching a lot of time in Iran And he's spending a lot of time more with the men Or also coaching you, how does that work? When he started working with our team he started with men But also for the women world championship he was helping our team as well But we also had a coach Mirosh Nichenko I think wherever he is with me in tournaments I do well So I should thank him from here Of course And also Matthew Kornet I believe was one of your coaches or? He's my only private coach He was or he still is? He still is Right, okay Yeah, we started working one year ago where I didn't have a good result I told you, I mean I was doing so bad but I think he helped me a lot Maybe when we started it didn't work that well It wasn't his fault, you did badly No, no, it's my fault No, I mean when we started I was not in a good mood But I can say my shape was so bad but now I think he helped me a lot So Matthew comes to Iran sometimes? Or you do it online? Is it online? No, we do it online but I really hope to have him in Iran as well Because I think he will like it and working in person is quite different than working I mean apart, yeah So these coaching opportunities are obviously funded I mean they're funded by the Federation No, the private coach is not But I mean I don't mind when I get some prizes in chess tournaments I don't mind spending it on chess because that's what matters to me I want to improve so it doesn't matter if I don't get the fund as well I'd like to spend it all I have on chess Tell us also and then we'll look at another game please That I know you were married not too long ago Tell us about that You know? Yeah, it was two months ago so we've been together for two years And he's very supportive, yeah He's here, I think he's live on Instagram there I can see it Lovely Yeah, so he's very supportive I can say I'm very lucky to have him Because putting all his work aside and coming here with me And not only in this tournament in most of the tournaments It's And tell us about his work, your husband's career He studied film production Yeah, he's I think more famous than I am in the audience So he studied film production If you win to Rosa you'll be more famous than him And he worked in that field like he had one TV show Which got the award for the best program of the year Really? As producer? No, he was the host there A host? Yeah, he was having some interviews with the celebrities So Is that how you met? We did interview you on the show No, actually I was I mean with my previous coach Robin van Kempen He was in Iran so I was showing him around And we accidentally meet on the street And before that we knew each other from Instagram I mean we were both known so we knew each other But we never talked So famous people meeting So then he invited me to one of his friends' concert So I went with Robin because I thought it would be interesting for him And that was where we met for the first time It started from then And you had a very nice honeymoon in the Maldives Yeah, it was before the St. Petersburg So I think it was the best preparation And then you got two tables in a row Fantastic Okay, we'll maybe have a little chat after this And maybe take some questions from the audience Or from online If you're watching online and you'd like to ask Sarah a question Sarah, you're at the end of the show Yeah, sure If you still have the energy for it Of course If you take questions from the audience watching So I have one more game Yeah, please do Of the second round But it's a very long game So maybe I could show some parts of it Absolutely, as you like Yeah This is against Jules Moussard One of our French friends Similar rating Almost exactly the same rating as Alexander today I didn't really want to play with him Because he's also one of my friends But it's- And what he says, you play chess You play your friends, it's okay Yeah, I know But I'm a bit emotional I don't really like to play with my friends But still So So He always wants to play chess So he doesn't really care about the openings, I guess So we played this Which transferred to Dutch Here In a great Dutch Yeah And again, as I said, I don't like to work on theories here I knew some idea from One of our coaches, Aloisa Skvenis Which he passed away Oh, that's why it's here So I would be able to say But I've used this idea many times in my games With U3 Was he- Again, I have to ask, was he coming to Iran? Or was- Yeah, he was working with the national team So he was- When I got into the national team, I was 12 years old And we were working with him for three years So it was really heartbreaking for me to hear the news Oh, yes, yes I was actually playing in Ancient Nations Cup then When I heard it He was quite young, wasn't he? Yeah, he was B3, yes, okay So the idea is to play, of course, Bishop b2 And then knight d2, rook e1 with the idea to If black plays e5, we play e4 So that's how we react For example, if knight d7 here Go knight d2 And for example, queen e8, rook e1 e5 and then maybe directly maybe taking then e4 So this is the idea Yeah But in the game, he went c6 I used to play the Leningrad judge for black Really? Lost some bad games It's like the Bernonis, one of those openings that can easily go wrong Yeah, that's true So a5 here, maybe I should have played c4 And in case of a4, I can go b4 But I just didn't want to react to it So I played rook e1 Maybe it wasn't so good Because now a4 gives black a bit of a counter play But he didn't play a4, he takes 6 So I played a3 too If a4 I can go b4 maybe Because here, for example, b5 is not a good move Because c6 would be weak So then I can go c4 And I think white is doing okay And also stop his knight coming to b4 Yeah, that's true When you go e4, bishop f5 or something So he stops e4, knight e4 Yeah, knight e4 But knight e4 is not a very big deal here, I think Because I go c4, queen c2 And then d5, again, is not a good move So he has to probably exchange the knight later on Here he went queen b6 with the idea to take a pawn Now if I don't defend it, he will take And if I take with the knight d4, he's hanging If I take with the queen b3, he's hanging So I had to go e3 And that's why queen b6 is not such a good move Because now knight c5, for example, is not possible Because I take and I attack the queen So here he saw that his queen on b6 wasn't really useful So he took here and played queen c7 Here I went b4 anyways because of the pin here So I think white is better in this position So b5 And here I found I think it was a nice idea to play c5 So if black takes here, I can give a check and then take on b5 I think I'm doing fine here Well, you have full developments in black's pieces So here he took c5 Check was also a good move After queen f7, I made a mistake I could have taken an e5 But I didn't see this idea That after c4, I have knight c5 And b7 is hanging But now still Would you mean b7 is hanging, sorry Like if it takes on, I can take on b7 I thought after c4, I will lose a pawn But I didn't see knight c5 here So I think I could take here Black's pieces were also having some difficulties to get out So here I made a mistake I took on c6 And after e4, black is back in the game So here what I wanted to show was this position Where we got into endgame So here he made one I think it was interesting He played bishop f8 to try a bit He didn't exchange Again, like the Don Schenker game Did you feel that your pawn, Jules, was trying to play for wind from an equal position? He was trying for wind A little bit too hard maybe Yeah, because here I don't think black has anything to play for But yeah, he tried to win here And I will go quickly to the So we exchanged And here we played this position for a long time Yeah, it's very cool So I will just go to this position Because it kept going, we just played on And I think special Oh, I saw him showing this game in the bar I think, or some of the, what the mistake was So here after h5 probably Here I could get a bit better by playing rook c7 And rook b8 probably Right I give a check here If I move the bishop, then he can take on b5 And I would lose a piece But I can go rook a7 And white is a bit better I mean, he should, he's the one who should try for equality here Right What should he play in fact here? I don't know, I was a bit afraid If he can get something afterwards For example, to take here later on And then I don't This past April Yeah But it was, I mean, I shouldn't have been afraid of that So I just decided to wait And here it's completely equal, I can say So we repeated again Nobody offered a draw? No Just by repeating, but not as he offering a draw No, I mean, I knew he was trying to win Because he is not a person who likes to go for a draw So here he made a blunder He played bishop b3 And I take a pawn like this Because of h4 and a5 hanging So we got into one interesting end game This one And here what I'm not happy with myself Is the decision I made, I played king g3 Which is very unusual Because I should bring the king to this side Right Because it's very obvious that if I go king g3 Then my king can stuck here And I don't really have anything by coming to h4 Should you be playing bishop e2, king f1 and bishop e2 At some point Yeah, later, but I mean now he can't But I can't go After king f1, I mean, if you played king f1 Yeah, I can go king Okay, I played some moves I played king g3 And I got stuck here for a bit But he could wait on this diagonal And it would be equal, I think He could hold this Yeah He could still hold this Yeah, he could hold this Because of the mistake I made by playing king g3 Because you can't play bishop b5 You're too slow, yeah? So I just realized my mistake I came back with the king So I will show you the winning plan So now I just... The plan is to push h4 of course And then at some point you come back with the king And play bishop e2 in the right moment And then h5 So if the king... It feels like it should be winning You've got an extra... Yeah, this is winning I mean, now it's winning, yeah, yeah Yeah, he should keep the bishop on e2 On e2, right? Yeah, so I couldn't come with my king And here I mean, we just had to play some moves Because I was not sure about my plan But I found it later on You were torturing him Yeah So here it's not possible to exchange Because he's in time to come with the king He can just take and then come here So I was not in time Right So here if he goes with the king to, for example, f6 I go bishop e2, bishop e8, I go bishop d1 And then I push And I come with my king to take this pawn So... Right So he went king... Oh, sorry That's a long game Yeah, no, I just showed this part Because it's very interesting, I think So here I managed to get this pawn But the position I want to show you is this one Because we got into this position And now if I don't play the move I played He wants to take an a4 And then take with the king on... And then it's just equal For example, if I play any move it would be just equal So I found this h5 idea It's the only winning move Is it?  He's not in time to come Oh, bishop b6, bishop b7 Yeah Is this a theoretical win? Yeah, it is So here you just... He didn't have time because he's king to d6 Yeah, yeah Yeah, that was the point But also I think if he comes to d6 It should be winning for me Like here If he comes here I come here For example If I don't play bishop c6 And bishop f3 Maybe I have this idea to play bishop f5 I mean, if I'm in time I can play bishop f5, bishop c8 And then come from there You can play a6 first, bishop b7 Yeah, also a6 to b7 So it doesn't matter if he controls this Must be a theoretical win Yeah, yeah Yeah, I think what he should do is If he's in time he can put the king on b4 And then play bishop c8 at some point And then I can't improve Because in our game when he... When if he comes bishop c8 here I'm in time to play king c7 But if the king is on b4 then I don't have that So probably that's the only defense here Okay, so those are two strong grandmasters I mean 2600 plus young players To pretty convincing wins, no? Spend it to the first one we saw And today you played last year's winner, Levon Aronian Without showing us, but how does it feel to have drawn with him? Well, when I saw... You had a better position you said You had the advantage at some point No, no, I didn't have advantage But I mean, when I saw the pairings I think I was with you So I was very happy because I thought whatever happens to the game I would just enjoy it Because we don't really get the chance to play with such kind of players in other tournaments So I was really happy about my pairing And I thought I would just try my best And at some point it was... And you had black Yeah, I had black I was happy with my position in the middle game But then I just blundered a pawn So I was thinking to myself that I just missed the chance Of making it draw with Levon Aronian So I was a bit upset with myself But then I managed to defend it Anyway, fantastic, yeah Thank you And your first round game here, was an easy win? No, actually it wasn't so easy I was playing a guy from Madagascar Oh yeah, shoot out, yeah And that game was also I think equal at some point But he made some mistakes so I managed to win in the end But it wasn't so easy Tell me about a little bit about your trip here I know you had an unforced one Something bad happened with your trip You want to tell us quickly about that? What happened on your trip here? Something happened that I've never seen before This is really a sad and amazing story Yeah, my husband's luggage got stolen at the airport Tell us about what happened today Yeah, first day when we arrived my baggage came So I was quite happy and then we saw that his didn't come Which was your route? You went from Tehran to? Tehran to Vienna To Vienna to Malaga Okay, right And we thought it was delayed And it's a normal thing When you have some connection flight Sometimes it happens that it comes after two, three days So we waited a bit And nobody was answering from the airport So they were saying they were searching for it They didn't know if it had arrived to Malaga or not But I mean it has been five days So he decided to go to the airport himself And he went to the police and they checked the cameras And some guy stole the baggage Unbelievable Yeah And they don't know who this guy is Or anything, no? Well, you'll do it about it His face was clear But I don't know, I hope they find it Right Well, I hope you can still play it Whether it's done, what's done is done When it sits Maybe get some compensation or something I don't know what will happen That's one thing, okay Very unlucky Then also tell us about backgammon Because this is also interesting for me Because that's maybe some people watching know We do, and certainly Martin I know you know this Here in the hotel we do have a backgammon festival Been going for three or four years now Following the chess, a few days after the chess Three or four days afterwards we move into backgammon And I believe your husband Well, you also play backgammon, right? No, I don't know how to play backgammon But in Iran I think we have more fans of backgammon than chess Like not professionally doing it But as a hobby you can see it in most of the families That they play since they're young For example, my husband is playing since he's five So that's what they do when they at family meetings They usually play backgammon So when you said that there was a tournament here I think he's still thinking about it How does he think of it? Yeah, to attend the tournament And I think it would be very interesting How about if you win that you brought a chess festival And your husband wins that you brought a backgammon festival I mean that might be unbelievable, you know Yeah, that's true Okay, I don't want to have high expectations in this tournament Because it will make me have more pressure So I just want to Enjoy it day by day I don't really think about the result Who in our studio audience has a question for Serna? Any questions on the games that you're showing or anything else has come up? Or maybe online? We'll have some questions And what are your plans after? What, we have a question? No, Chefs? Can you speak to the microphone? At the back? At the back? I can't hear you And then you come up here, I don't have to How do you need to come up here, sir? Thank you A question from a member of our audience So we can hear the people at home can hear Thank you How did Sara get interested in the game of chess in the first place? That's a very good question Well, I was eight years old And nobody in my family played chess So one of my classmates was a chess player And she told me about the tournaments and all So I got interested I went to the chess academy in Tehran And I can say I started professionally from the start Like I was not playing at home or anything I didn't even know the rules But I started in an academy Thank you Thank you And sorry, I was falling on from that question As you went through school and your chess studies Was it like a chess school or a chess academy? Did that mean you didn't have a normal, normal? No, like I had some classes there No, it was not a school It was like after school, was it? Yeah, it was after school Actually, the guy who run the chess academy He was the first international master in Iran And he used to be our coach for a long time I think most of the players owe a lot to him Because he helped us a lot He was playing in the interzones before What was his, what's his name? Harandi Oh, I've heard of him Yeah, but unfortunately he just passed away a few months ago Like one month ago So I should also thank, I mean, I think I owe a lot to him Right, yeah, yeah Let me ask you, is Iran, I know you're going to say yes Iran is changing in many ways as far as we know Yeah, that's true Also for women particularly Can you tell us something about that? Yeah, I think so Because we are having more opportunities to play everywhere To take part in, I mean, in important events And I think generally everything is changing So we're hoping for the best You have another question? Question from the chat Is, do you have a favorite chess player of all time? Good question Of all time? I think Kasparov is, I mean, he has been my legend for a long time But from the players, now I can say Magnus I have a question I did an interview about a year ago with your former countryman, Doris Adorek Shani She claimed that she was able to read at the age of one and a half And there's also a cute video of her on national TV in Iran Singing at the age of like five or six So do you have any hidden talents that we don't know about? No, actually not Because, I mean, when I was younger, I just tried some things apart from school It was, I used to play guitar, which I don't remember now And I used to play tennis, which, I mean, I can't do it now But I can say when I started chess, I just put everything aside So it was chess the whole time Nobody in your family plays? Your parents? You have brothers and sisters? No, but they all follow my games And for example, Ardeshir, he loves chess 24 because he can see it goes up and down Evaluation, no? Yeah, he doesn't like to see the moves But he likes chess 24 because it's easier for him to follow my games Okay, nice Please, sir Another one from the chat, what do you think of Alireza and Parham And their chances to become a super GM? Well, I think we have many good players now Alireza, Parham, Muhammad Amin, and Puyya, I think they are so young And about Alireza, I think everybody knows that he's very talented But Parham is also working a lot and he improved so fast I think both of them have the potential to be in the top 10 in the future But it depends on the support they get if they are in the right direction I think they can easily do it Interesting So some of the events that we cover, we ask people like Hikaru and Maxim and Magnus What they would do with the 100 grand that they just won And of course they give very boring answers because they don't need the money But if you win the top women's prize, you could win the top prize overall Let's just stick with the top women's prize That's 15,000 pounds, something close to 20,000 US dollars You're still quite young, is that like a life-changing amount and what would you do with it? I think I would just spend it on chess Actually in St. Petersburg, I got a lot of prize because it was almost 70,000 But still I would try to use it on chess to improve more I mean, I don't think about the money How much have you spent so far on that 70,000? I haven't received it yet My honest answer You haven't received it yet? No, yes It's just three day events, come on, what is this? Yeah, because we have some problems because of the sanctions Our banks are blocked, so it has to go So if you had to spend quite a bit of money on getting training by like a really famous player Who would you like to receive some training from? Well, that's a good question Because right now I'm very happy with my coach, Matio Kornet Just for one night You don't have to answer that No, I think because far off just, yeah You're obviously very ambitious You've set your sights on just improving and you'd love to be a women's world champion and maybe more, I mean just What does it go from here? What are your plans for the next three, six months? I mean And how do you project that forward? I remember even two years ago when I got this question in this massive Yeah, I wanted to be in the top 10 and now I'm very close to it I had one year that I played so bad but I think I made it okay this year so I'm like 12 now I think First I want to get into top 10 and I don't know, I just want to see what happens next I don't really want Because for me after the Grand Prix I had a lot of expectations from myself and I think that was the reason why I didn't play good in the next events because after the World Championship I felt so stressful during the game You got knocked out early on there Yeah, I don't really want to feel that again so I just want to see what happens next in my tournaments Right Yeah, yeah Do you have any other hobbies? I mean you're not studying chess 24 hours a day you must be doing Is there anything else you love doing? Actually if I tell you I'm not working at all I'm not lying But nowadays I just play in many tournaments so I don't really get to do anything much but I don't know, I'll see what happens You've traveled a lot there You've been to I don't know, 30 more countries now I think so, yeah If we get some time we would like to have some vacations for example in summer when I had some free time we went to Russia for the FIFA World Cup and then we had some free time we went to our honeymoon so You've been to Venice, you told me Yeah With your husband, yeah, you had a nice time Yeah, it was great Any final questions or anything else from the audience or online? No, a little bit quiet tonight, the audience Mike? Right, it's a rise by the play I would guess So, okay well So anything else you'd like to share with us before we wrap up? No, just thank you for organizing this event it's one of my favorites and I think it's very great to be here What did you like? You like it being tough, you like playing I mean you like playing the chance to play somewhere I live on today It's my fourth time here and I think everything also I mean not only chess also the side events that you have for example the Battle of the Sexes that we have tomorrow Let's finish with that, yeah So it's very interesting I mean for the audience for the chess lovers for the players it makes it I mean wonderful to be here So You're going to play in the battle tomorrow? Yeah Yeah, good, we look forward to watching that Yeah, me too And Sarah, thank you very much Thank you Thank you Thank you


Hello and welcome to the session. This is Professor Farhad and the session we're going to be working practice questions that deal with the third tax asset, as well as the third tax liability. A topic that's challenging for many students. Those practice questions are based on the previous session, which I introduce. I go over the third tax asset and the third tax liability from an introductory perspective. LinkedIn is where you would need to connect with me. If you haven't done so, YouTube is where I house my 1,500 plus accounting, auditing finance lectures. This is all the courses that I cover. So in this session, we're looking at something in intermediate accounting, as well as technically CPA questions. On my website, you can find additional resources, questions, quasi practice simulation notes, PowerPoint slides, as well as many, many more resources for you to succeed as an accounting or as a CPA student. Let's go ahead and start with the first sets of questions. So the first thing I'm going to ask you is a list of true, false to make sure you understand the most basic concept. So the first question is this true or false? What I want you to do, I want you to pause before each question, try to answer it. Then listen to my recording and see if you got it right. Let's look at the first true, false, a temporary difference is the difference between the tax basis of an asset or a liability, and it's reported amount in the financial statement that would result in a taxable amount or a deductible amount in the future and future years. Is this a correct statement? Yes or no? And the answer is, yes, this is a true statement. This is exactly what a temporary difference is. It's a temporary difference because of the tax basis of an asset and a liability, and it would result in a future taxable amount. Taxable amount means it might result in a deferred tax liability or a deductible amount it might result in a deferred taxed asset. So a temporary difference will get you either a deferred taxed asset or a deferred tax liability, depending on what the difference is. Second question. When the book amount of an asset or a liability differs from the tax basis as a result of a temporary difference, basically what we're saying, same thing here, the future tax effect on taxable income must be reported solely in future financial statement that the difference effect. Hold on a second. So first we gave the, basically the definition of a temporary difference. Then we said the future tax effect must be reported solely in future financial statement. No, not at all. It has to be reported now. The temporary difference has to be reported now as either a deferred taxed asset or a deferred taxed liability. So this statement is false. This statement is false. Okay. So it's reported in future financial statement, not in current, sorry, in current, not in future. The third tax liability is the amount of the third tax consequences attributable to an existing temporary difference that would result in net taxable amount in future years. Is this what a, the first tax liability is? Yes. A deferred tax liability would result in more taxes in future years. So that's a true statement. That's, that's the definition of the third tax liability. A deferred tax expense is the decrease in a deferred tax liability balance from the beginning to the end of the accounting period. Now, you're at this statement. You are really stuck. I really don't know the answer. Okay. Let's look at it from a, from a journal entry perspective to see if this makes sense. And there is an important concept here. A deferred taxed expense. So the third tax expense. Remember, what do we do with expenses? We debit expenses. So notice this is a deferred tax expense. We debit expenses is the decrease in the third tax liability. Hold on a second. If you have a liability and that liability decrease, I also have to debit the liability. So what you're saying, I debit the third tax expense, then I debit the third tax liability. That doesn't make any sense. Well, if I'm debiting the third tax expense, if the third tax expense debiting, if I'm, if I am connecting this to the third tax liability, the third tax liability must be increasing, right? Because to increase a liability, you credit a liability to increase an expense, you credit an expense. You credit an expense. Okay. Therefore, the third tax expense. So what does that mean? This is, there's an important concept here. It means every time the third tax liability goes up from year to year, your deferred tax expense goes up.  If deferred goes up, your income tax expense goes up. Now, also we can say if a deferred tax liability decrease, write these down, the third tax expense goes down. It means, it means if I'm debiting the third tax liability, the corresponding credit is the third tax expense, which is part of income tax expense. I am crediting the third tax expense. I am crediting the third tax expense. And using the same logic, let me, since we are going there, using the same logic, every time the third tax asset goes up, okay, the expense, the corresponding expense must go down.  So make sure you jot these down. So those are very important, very, very helpful shortcuts. Let's take a look at this question. The concept of a deferred tax liability meets the definition of a liability established according to GAB because it's a result of a past transaction, present obligation, future sacrifice, represent the future sacrifice. That's exactly what the liability is, and the third tax liability is no different. It means this is a correct statement. An objective of accounting for income taxes is to recognize the third tax liabilities and assets for future tax consequences of event that already been recognized in the financial statement. Hold on a second. Is this the reason of, is this the objective of accounting for income taxes? And the answer is yes. So the third tax asset and the third tax liability tells you what's going to happen in the future that already happened in the financial statement. That's basically what it is. So the, the, it is just correct. The third tax asset represent the increase in taxes payable in future years as a result of a taxable temporary difference existing at the end of the current year. So, so let's, let's see if this is a correct or incorrect statement. So they're asking us about the third tax asset, the third tax asset. Does it represent an increase in taxes payable? No, at the third tax asset, what does it represent? It represent a future savings or, or, or an increase in refund, not an increase in taxes payable in future years. That would have been at the third tax liability would represent an increase in taxes payable, not the third tax asset. The third tax asset would represent future savings. Let's work a few more of these through false. The third tax asset should not be recognized in the accounts because they, they failed to meet the definition of an asset. No, the third tax asset is an asset. It's a future benefit. It's a future benefit. The third tax asset should be reduced by evaluation allowance. If based on the available evidence, it's more likely than not that some portion or all of the third tax asset will not be realized. So this is evaluation question. Is this a true statement? And the answer is yes. This is a true statement. What, what happened is this, if we have a third tax asset, we have to look at available evidence, whether it's negative or positive to determine if we should have an allowance account. And I talked about the allowance account. Basically, if you are not going to be using the third tax asset, you need to write it down. All positive and negative information should be considered in determining whether evaluation allowance is needed. Yes, I just said this. You have to consider positive and negative. Positive means stuff that's gonna affect it positively and negative stuff that's gonna affect it negatively. Basically, we have to look if we are going to lose or have more, if we're gonna, if we're gonna more likely or less likely to use those tax savings in the future. If we are not gonna use them, we need to write down that the third tax asset. We should not have an asset that we are not going to use, which is considered a useless asset. Let's take a look at this multiple choice. With regard to the third taxes, the use of the installment method for tax purpose will typically result in what, okay? So what they're saying here is this. If we use the installment sales method, now if you don't know what the installment sales method is right there, you are in trouble. What is the installment sales method? The installment sales method is when you sell something, let me go back here, when you sell something and they're gonna be making payments in future years. So each acts represent a payment. And if we are using this method for tax purposes, it means every time we receive the cash from those payments, we have to pay taxes. Now, versus maybe for financial accounting purposes, what we did is for financial accounting purposes, we recognize the whole revenue upfront. So for financial accounting purposes, we recognize the whole revenue upfront for tax purposes. This is what we're using here. We are waiting for the payment. What is that going to give us? That would result, would it result under the third tax asset and would that result under the third tax liability? Think about it for a moment and let me know. Okay, hopefully you got it. What's gonna happen in the future is I receive my payment. Whatever that payment is, I have to pay taxes. Every time I receive the payment in the future, I have to pay taxes. I have a future taxes. What do I have? I have a deferred tax liability. I don't have a deferred tax asset. So one is out, A is out, C is out, B is the answer. I have a deferred tax liability. Let's take a look at this question. The reporting of which of the following would typically result under the third tax liability? So we have two, warranty expense and bed debt expense. And which one of them would result under the third tax liability? Let's look at each one of them separately. Now here you have to kind of use your knowledge to know how this whole work, okay? So what happened when we report warranty expense? Okay, so from a financial accounting perspective, here's what happened. From a financial, this is the financial statement and this is tax. What happened when we report a warranty expense? We debit warranty expense, let's say $10,000. We credit estimated warranty liability $10,000. What did we do for financial accounting purposes? We don't do anything. We don't do anything. Sorry, for tax purposes for that year, this is 2020. We don't do anything, okay? Now what happened in 2021? In 2021, we are expecting for that warranty expense to materialize. We are expecting for a warranty expense to have occurred. And once it occurred, we'll take a deduction. Hold on a second. So a warranty expense gives us a future deduction because in 2021, so 2021, when actually for tax purposes, when I actually pay for the warranty, I debit an expense and I credit cash. When I pay for the warranty for tax purposes, for financial accounting purposes, I already accounted for that. So it's gonna give me a future deductible amount. Hold on a second. Future deductible amount is not a liability. Future deductible amount gives me a deferred tax asset. Therefore, one is out, A is out, C is out. Now the question becomes to bet that expense. Follow the same logic. Bet that expense, we book bet that expense for financial accounting purposes, but we don't do anything for taxes. Why? Because we only take the write off when it's the direct method under taxes when we actually write off the account. Therefore, the same concept. We book bet that expense for financial accounting purposes. We debit bet that expense and we credit allowance. And for tax purposes, we don't do anything. Then in future years, when we actually write off the amount for tax purposes, this is when we take the expense. Therefore, bet that expense on the financial statement now will give us a future deductible amount in the future. Where therefore it doesn't result in a tax liability. Therefore B is out and the answer is neither one nor two. Okay, both of them are deferred tax asset. Let's take a look at this question. Station Toy Train Company, a cash basis taxpayer prepares it's a cruel financial statement. In year 2013 balance sheet, station deferred income tax liability increased. So the third tax liability went up. Okay, hold on a second before we even proceed. If a liability went up, liability takes a credit. The corresponding to the liability should be an expense. So the expense will go up just before we even proceed any further, okay? Which of the following changes during 2013 would have caused this increase in the third income tax liability? Hold on a second now. So they're asking us why we would have an increase in the third tax liability actually, okay? Well, let's think about it for a moment. The third tax liability went up. It means the third tax expense went up. The third tax expense went up. It means the third tax expense is part of income tax expense, but we have to be specific. The third tax expense went up. So the third tax liability went up. The third tax expense went up. Which of these one, two or three would result in this? Okay, let's take a look at one at a time. An increase in prepaid. Hold on a second, let's see.  You're looking at your financial statements and you acquire a prepaid. What would you do for your financial statements? For my financial statements, I debit my prepaid, let's make it 3000 and I credit cash 3000. Prepaid, PP is an asset, prepaid is an asset. Oops, sorry, prepaid is an asset. Now, what do I do for tax purposes? Well, you need to know this. For tax purposes, I am going to expense $3,000 and credit cash $3,000. Okay, this is for tax purposes, you expense your prepaid. You cannot hold them as an asset, generally speaking. That's the general rule, an increase in prepaid. Well, hold on a second. If I took the expense now, I took the expense now, 2020, in year 2020, what's gonna happen is this. In future years, in future years, what's gonna happen in future years for financial statements, so now let's take a look at the future what happened. In future years, I'm gonna have an expense on the financial statement and on the taxes, I'm gonna have no expenses because I took all my expenses. Therefore, yes, an increase in prepaid. If I acquire a prepaid in the future, I'm gonna have a more deferred tax liability because I already took my expense. Therefore, one is in, if one is in, I can take out A, I can take out D immediately. This is how you should be thinking on the exam because if one is in and you're positive about this, all what we'll have to do is determine if two, you know three is out because there's no one, two, and three. Hopefully you see this. Now you just have to know if this is correct. If this is, if this result in a deferred tax liability or not, an increase in rent receivable. An increase in rent receivable. Let's take a look at it from a financial accounting perspective. From a financial accounting perspective, an increase in rent receivable, it means we debit rent receivable and what do we credit? We credit revenue. We credit revenue. So we counted the revenue for financial accounting purposes. For tax purposes, nothing. We don't do anything, no entry. Why? Because we're waiting to receive the money. Once we receive the money, we count the revenue for the rent. Therefore, for this year, I'm gonna say for 2020, for year 2020, I have no revenue for tax purposes. That's good for now, for tax purposes. But guess what? In 2021 and 2022, I'm gonna be receiving this money. Hold on a second. What happened when I received this money? I have more taxes. What happened if I have more taxes? I have more deferred tax liability to book. Therefore, two would also result in a deferred tax liability. Two would result in a deferred tax liability. Therefore, the answer is C. The answer is C. C as in Charlie. Which is correct regarding current and deferred income taxes? So basically, they're asking us, do you know what current and deferred income taxes are? Because current and deferred compose your income tax expense. The third income tax expense is equal to the change in the third tax liability or asset on the balance sheet from the beginning of the year till the end of the year. Is this a correct statement? Yes, this is what the third income tax is. It's the change in your deferred tax asset and your deferred tax liability. So one is in. If one is in, I can take out B and I take out D. Now you're down to 50-50. Let's take a look, see if the second statement is correct. Current income tax expense, do you know what current income tax expense? Equal to the income taxes payable on the corporate tax return, assuming no estimated payment were made. Is this your current income tax expense? Yes, this is what I explained to you earlier. Your current income tax expense is what you have to pay to the IRS is your income tax payable. Both of these statements are correct. Therefore, the answer is C. Remember, those two, the deferred income tax expense and the current income tax expense together will give you income tax expense. And we talked about this, okay? But those are the definition of them.  Make sure you know the definition, know what they look like, how do they fit together? Okay, let's take a look at this question. Delaney company had revenues of 180,000 for book purposes and 150,000 for tax purposes. Let's take a look at the question. If Delaney has a 35% tax rate, what's Delaney income taxes payable for 2017? What are they asking you? They're asking you how much, what's the check that they should write to the IRS Inc, which is, I can't call it, what's the check that they have to write? I can call it current income tax expense, whatever you wanna call it, but make sure you know it. So basically they're asking you for the current income tax expense, okay? Or income tax is payable. So they have revenue of 180, so for book, I don't care about the book purposes. They have revenues of 150 for tax purposes. So revenues 150. Delaney also has expenses of 100,000 for both. So the expenses for tax purposes also 100,000. This is for tax purposes. Therefore, my taxable income is 50,000. Therefore, if I take 50,000 multiplied by 35%, I should have 17,500. Okay, if I want to journalize this, let's journalize it. You will debit current income tax expense 17,500, income taxes payable 17,500. So this is the current component, the current component of your taxes. Well, since we do the current component, let's do the deferred component. What the heck, you know, let's do it. So what is the deferred component? Well, guess what? You have more taxes now. You paid more taxes now. For financial accounting purposes, you're gonna have 50,000 less of taxes. You're gonna have 50,000. 50,000 means what? Why 50,000? Because remember, from a financial accounting perspective, your revenue is only, oh, actually your revenue for book purposes is higher. Sorry, from a financial accounting perspective, your revenue is 180, actually more. Your revenue is more. And your expenses are 100,000. So it's 80,000. So notice, so from a financial accounting perspective, you have more revenue. It means in the future, you're gonna have, in the future, you're gonna have 30,000 more in revenue in the future. So in the future, you have more revenue. In the future, you have more revenues. 30,000 more revenues. Well, if you have more revenues in the future, you have more taxes to pay. We're gonna assume the future rate is 35%. Let's do this. I believe it's 10,500, but let's... So I'm just gonna show you how can they trick you. I mean, 30,000, you have to know what they're asking. You're times 0.35, that's 10,500. The 10,500, the 10,500 is the third component of your taxes. Therefore, the entry will be the third income tax, 10,500, the third tax liability, 10,500. Now, can I combine... So basically, let me just tell you, simply put, if you wanna combine those two, basically this and this, those two, this is the current and this is the third taxes. Now, I can combine those two. I can put income, my income tax expense is... Sorry, my income tax expense is 27,000, 28,000. Then I, my deferred tax liability, 10,500. In my income taxes payable, taxes payable is the 17,500 credit. Okay, sorry. So this is the combined entry.  In other words, for this question, they can ask you for what's the deferred component. The deferred component is 10,500. They could have also asked you, what is the total income tax expense that would have been 28,000. So you have to understand, they could ask you all three questions here. So they ask you about the taxes now. The taxes now is 17,500. The deferred is 10,500. Together is 28,000. If you understand this question, you have a good understanding of things. Let's take a look at this question. Morene Corporation reports income taxes before, before income taxes, before taxes of 500,000, AKA GAP, and its income statement. But because of timing difference, taxable income is only 200,000. So for financial statement, they have a half a million for tax purposes. Their taxable income is only 200,000. Now why, there's a difference of 300,000. Why is there that difference? It could be that we took more deduction for taxes or we took more revenues for financial statement. Either we took more deduction for tax purposes, therefore our taxable income 200,000, or we recognize more revenues for financial statement. Okay, it's either or, okay. If the tax rate is 45%, what's the net income should the corporation report? So here what they're asking us really is the net income. What's net income that should the corporation? So we're looking at financial statement perspective. How can you solve a problem like this? Well, you have your income before taxes. So you're looking for your taxes. Okay, what are your taxes? Your taxes are composed of two things, the current and the deferred component. So your income taxes are current taxes and the deferred component. Well, can I compute my current? Yes, I can easily compute my current. I have my income taxes. I multiply this by 45% and that's gonna give me 90,000. So my current taxes is $90,000. This is the current component. What is the deferred component? Well, let's see. The difference between my financial statement, taxable income or financial statement income before taxes and taxable income is 300,000. What does that mean? It means in the future, I am going to lose a deduction or have more revenues of 300,000. Regardless, in the future, I have more liability in the future. I have more liabilities in the future in terms of deferred tax liability. Okay, so I'm gonna have to have more liability because 300,000, it's gonna either, it's gonna increase my taxes or it's a reduction that I'm not going to have, a deduction I'm not going to have. Well, it means the deferred component is an increase in deferred tax liability. It's 300,000 multiplied by 0.45. So 45 plus 45 equal to 90 plus 45 equal to 135. So the deferred tax liability is an increase of 135. Well, guess what? So my taxes are 0,005 to 225. To 225. So my income tax expense is 225. Let me also give you the journal entry for this. So this way you know what the journal entry is well. So the journal entry will be, I'm just gonna call it income tax expense, income tax expense 225. Okay, the third tax liability, which will be a credit of 135, this is the credit and income taxes payable, which also a credit of 90,000, 90,000. So the debit is 225 and those are the two credits. So my income tax is, and my income tax expense is 225, so 225,000 minus my taxes will give me a net income of 275, in the interest to 275. Notice 225 is here, but that's not what they're asking you. They're not asking you about your income tax expense. Also notice the 90,000 is here. The 90,000 is your current income tax expense, which is your, this is the check that you write to the IRS. They could ask you, again, in this question, they could have asked you about many, many component, many component. Just be careful what they ask you. Just be careful what they're asking you, okay? According to GAB, at the third tax liability is what? Result of a pass transaction. Yes, it's a result of a pass transaction. Therefore, D is out. Is it a present obligation? Is it a present obligation? Yes, it is. So A is out. It is present obligation. So it's present obligation. It represents the future sacrifice. Of course, it's a liability. So the answer is C. C. So this is basically the definition of a liability. At the third tax liability is a liability. So that's basically, you have to understand this. It should fit the definition of a liability any way you frame it. Any way you frame it. Glime Inc. has a deductible temporary difference of 100,000 at the end of the first year of operation. Its tax year is 40%. Income taxes payable are 90,000, which is those are the current taxes. Glime properly recorded the third tax asset. Later, after careful review of all available evidence, it's determined that it's more likely than not that 15,000 of the third tax asset will not be realized. What entry should they make to reduce the asset value? Simply put, how do you report an allowance for the third taxes? You debit income tax expense? Yes. Do you credit the third tax asset? No, you don't credit the third tax asset itself. You reduce the third tax asset, but not by crediting the third tax asset. So that's incorrect. Income taxes payable debit? No, no, no. You don't reduce your taxes for the IRS, that's out. And you don't reduce your taxes, neither income tax expense. You debit allowance to reduce the third asset to expected realizable value? Well, allowance is a contra asset. Contra asset, it's not increased by a debit. Therefore, it sees out. Well, by process of elimination, D is the answer. You credit allowance to reduce the third income taxes, which is an allowance account, which makes sense. And you increase your income tax expense because you lost that savings. So D is D. So if you have any questions about these questions by all means email me. In the next session, we would look at additional topics that deals with the third tax asset and the third tax liability to start to expand our horizon because this was an introductory questions. I strongly suggest you subscribe to my website as it's an investment in your career, especially if you are an intermediate accounting student or a CPA candidate as it will help you in both situations. Good luck and study hard.