I am a first-year teacher and I started the Gay Straight Alliance here at the school. Another teacher at the school, Miss Pamela, knew Miss Irvin and said that she would possibly be interested in coming and talk to the middle schoolers and I just thought it would be a really great opportunity for them and got in contact. 66% of people who have met a transgender person or at least know of a transgender person say that they support equal rights for transgender people and I think that that number is only going to continue to go up as it gets more exposure and I believe really strongly that we need these kids to be our leaders and so it's really important for them to be exposed to new ideas and make up their own minds about what they think is fair and what they think is right. Hi everyone, I'm Brian Socropanti with CalTV Entertainment and today I'm joined by Erica Irvin, also known as Amazon Eve. Yes. Most recently featured in American Horror Story Freak Show. It's exciting. It's a great nice to meet you. Thank you. It wasn't until fairly recently that you kind of came up publicly and did come out as transgender. Was there like a moment or an experience that sort of moved you to do that? In 2007 I wrote an article, the first line of that article is I'm a transsexual woman. Technically I would think that's my coming out. We're talking about the coming out party? Well that was American Horror Story Freak Show. I was living someone in stealth and I was using Amazon Eve as my alias name and I didn't want to come out. I was a little afraid. And event happened in 2012 which made me decide that I think now is the time. Right after Hemlock Grove. That's when I decided the next project I'm going to make a coming out of it. For my part originally it was written for man so I auditioned as a male. I nailed it and they googled who I was and said, oh Amazon Eve that's even better. Let's use Amazon Eve. So Ryan Murphy has given me the opportunity of a lifetime to tell this story. American Horror Story is one of my favorite shows in part because of the the way it tackles social issues. It tackles gender and sexuality and race and then disability even and just the idea of otherness. What was that like for you to to be working on this show with Ryan Murphy tackling these issues at the same time and just what was your experience like doing that? I felt better because everyone on set knew who I was. Knew I was transgender so I didn't have to feel odd about saying that and they were very accepting and very loving people. This is like an extended family to me. Got to work with Ryan Murphy because he directed the first episode and there's an opening there's a scene where after we kill the detective that I carry him. I was originally going to be carrying a box. Obviously not carrying. I said let me get my freak on. Let me carry the detective. You can do that. He's a 250 pound man. You see a lot of cases in which a straight actor will play a character who's gay, lesbian, trans, you know things of that nature and oftentimes will be received with critical acclaim but occasionally you'll hear some backlash from the LGBTQ communities as to why didn't that role go to someone that is LGBTQ in real life and what what is your take on that type of situation? We're challenged to represent and I always say make your dollars invisible as they make you but we're such a small group. How do you get to see us out there? It starts with other people playing us. It's part of that understanding. So is this what it's like to be you? Let me put this on. It's just about being human. I played straight cisgender females. Should that role have gone to a six-foot-eight woman? Very hard to find. We have a challenge right now. I'm trying to reach people who are isolated. I'm curious how do we do that? This is a conversation I wanted to begin now. Does everybody here have someone to check in with? A parent? A teacher? Does everybody have someone to check in with? I want to see more hero characters, transgender hero characters on TV. I want to be able to speak to the kids listening right. It's really important to get the message that there is light at the end of this tunnel and that there are other things choices you can make them take in your life. Now I never thought of myself as pretty or beautiful or even valued because these messages these bullying messages said that you're no good, you're not gonna mount to munch, you're mentally ill, these are old ideas. Wipe those away. I'm Brian Sacrapanti and you're watching Cal TV. Was that good? That was good.


Okay, round two of the Black Friday Cyber Monday sales that are going on on Amazon. I wanted to bring you such a great array of different things. We're gonna go beauty, fashion, home, with some gadgets and stuff in there. So I'm really excited about this. And don't forget that we have a numbering system, one through every many products we get through. I'll put a number up on the screen. All you have to do is remember the product corresponds with the number. Then go down on the description box, find the number. All the information about the product that you're interested in, and the link will be there for you to shop that way. All right, beauty, health, that kind of thing. We're gonna start off with my very favorite dry shampoo of all time. The reason that I love the Living Proof Perfect Day Advanced Clean Dry Shampoo is it truly does clean your hair. So it's not like you're putting more powder stuff in there and you get a bunch of grit in there. It does come in two different sizes. I usually buy the big one because I use it so much. I think it's 30% off or 20% off right now. For a dry shampoo, this cannot be beat. And again, we're doing rapid fire here. We're going very, very quickly. And another thing I wanna tell you is that I have heard recently that people aren't trusting what goes on as far as being sold for beauty or skincare on Amazon. The easiest way to get around that is look up at the top where they're selling the product. If it says visit the Living Proof store or if it says visit the whatever store, you're actually going to go to that retail store that is selling right on Amazon. So they do sell on Amazon. It is an authentic product. And I just wanted to mention that. Okay, the next one is a little mini size because I bought this for travel but I am completely out of my big one. So I had to put this in here because it's on sale right now and it Cosmetics came to Amazon. It Cosmetics CC Cream has a 50 SPF and I wear the light medium shade. And this has for years. I mean, way before I even had a YouTube channel, this is all I wore for years. It does have full coverage for a CC Cream that's crazy to me. It gives you a natural finish, not too dewy, not too matte. And I love that about it because at 55, I need something that kind of sits in the middle too glowy. It's going to show my texture too matte. It's going to settle into fine lines. And so it's just a really, really beautiful product and I've loved it for a long time. So glad that it's on sale. Next product is from, and you guys know I murder these names but I'll give it a try. It's from Payoung, Payoung, Kang, Yoo. These are black tea eye patches. I am in love with these. I swear these are probably some of the best eye patches I've ever worn. They're super duper hydrating but they have the black tea in them that if you have any puffiness kind of takes that away but there, sometimes when you talk about tea and the caffeine in it, it can be a little bit drying, not so with any of these. This is super hydrating. It has a lot of really good skincare ingredients and this is a Korean brand. So you know that it's going to have some really good ones in it. But my eyes, I put these out in the morning while I'm doing other things and getting ready to do my skincare and then I'll take them off and my eyes just feel so hydrated and I love these. They weren't expensive at all and now they're on sale for Black Friday, so bonus. I'm even gonna pick up another jar of this for myself. So good. So I really need to talk about the multivitamins I take because I have spoken about them before on my channel. These have made a huge difference in the kind of energy I have. I don't hit that wall during the day. That just gives me energy all day long. Before I started taking these, I had to have a nap every single day. I was an avid nap person. I was like a kindergartner. I had to have my nap. And so I really feel like this has changed the way my body is feeling but also it helped me recover from some pretty major surgeries. This is the original multivitamins from Mary Ruth and it's liquid mourning at multivitamins essentials. Now this is on sale right now itself and then if you do the subscribe and save, it's even a better sale. But they came out with very recently, Mary Ruth's liquid mourning multi-vitamin plus hair growth contains lustre vina, lustre va, lustre va, yeah, okay. Clinically shown to help grow thicker hair, improve wrinkles and fine lines and support healthy skin. If this works like I think it's going to where it's a liquid vitamin and it's got a specific formula in it to grow your hair back, I'm so excited about this. And what's cool about it is that right now with it being a percentage off and then being the subscribe and save, it ends up costing the same as this did for me when it was on sale. All right, we're gonna talk a whole lot of fashion right now. You guys know that I have not been feeling very well. It's hard for me to stand for any length of time and to change in and out of clothes would be really hard for me right now. And so I'm gonna just sit here. I'm gonna show you what I'm talking about as far as the product goes. And then we're gonna go ahead and just show a picture of it out of the Amazon website right here. So first things first is what I have on. It's a v-neck with the scallops around it, scallop around the hem, and then it's got the white accent on the knit. I think this sweater is so nice. It's really soft. I love that about it. I love that it has this detail where you can zip it down a little bit if you want to and zip it up and it still looks really polished. I think this would be so pretty with a winter white skirt or pair of trousers. I just really think it would be beautiful like that. And then along those same lines is this sweater that I bought and this is so pretty. The way that the knit is on here and then the deep wine red. I love the color of this so much. All of these that I am showing you will be on a pretty good discount for Black Friday. So that's awesome. I really like this sweater because of the color of it. Again, you have the zipper with the v-neck right here. You have the collar if you want it, if you're cold and you wanted to wear it like a turtleneck, you can do that on this one or you can wear it open. This one is really true to size, maybe a little even bit bigger. I got a medium and it seems like it works just perfect for me. I'm like in between a medium and a large right now. This sweater that I got right here I think I bought in a large. So this one you might size up just a little bit or stick with your true size, I guess is what you probably would want to do. But this sweater is really beautiful and I'm so glad I got it. And then I have two cardigans that are just absolutely gorgeous. This cardigan has pockets, which I love. It's an open front cardigan. Again, the design on it is just beautiful. I got mine again in a medium and this one runs a little bit big. So I do like that it is a little bit big because I like to be able to wear heavier stuff underneath them. If I'm cold and I just wanna throw on a sweater or whatever, very high quality. I would say that this one is a medium thickness. So this is gonna do you really good for winter. And this color right here is almost like a dusty purple kind of a medium dusty purple. So this one is really beautiful. And then the next one I have is a lot longer. This is almost mid thigh length and it's got some copper buttons or actually these are snaps on here. This comes in a bunch of colors. Again, I got a medium and it seems to be perfect for me. I do like the sleeves on this one because this has the banding around the sleeves. So if you wanna push this up, it's gonna stay up instead of you maybe having to cuff it or anything like that. I just love the way that this one looks. I think that this sweater could go with absolutely anything that you have slacks, jeans, skirts, whatever you have that you wanna match it up with. This comes in a ton of colors, so many colors to choose from. This is a lightweight one by the way. It's not super heavy. It's almost like the weight of a jersey kind of knit fabric. Next one is a cardigan jacket that is gorgeous. This one is in navy and I have this one in medium and this one does run a little bit big but this is one of the prettiest. It's almost like a coat heavy material.  This is a great weight as far as keeping me warm without keeping me too warm and it is just beautiful the way it drapes. It's got an open front. You could wear a really cute scarf with this. I think that would be really cute with this. I was so impressed with how beautiful this color is. It's just kind of a vibrant navy and it's so pretty on. I absolutely love this one and this one does come down just about to the top of the knee. This is really pretty. By the way, I don't think I said that I'm 5'7 and 170 pounds so all of these sizes would be good for you if you were right around that. This right here is a suede jacket fully lined which I love about it and it is so cute when you zip it up. I love the detailing on this. It's got zippers all over it. You can zip it all the way up and then you can see this extra pocket right here on the lapel. This is just an absolutely adorable waistcoat and it does hit me just right at the waist. This is warmer because it's lined. I think it's great. So this is not real suede, obviously. It's faux suede but it is so soft. It's so, so soft. I love the detailing on the back of it over the shoulder. I think it's so pretty. And then of course you also have the detailing on the sleeve which is the zipper which I don't usually undo or anything like that but this is so pretty. I really love this one. And then this pink coat, it's so cute. I did get this one in a large and it's perfect. So this one probably does run just a tiny bit small suede. If you put any sweaters underneath it or you like to wear layers, you might want to size up on this one. This one goes completely down over the butt. Hits just below the butt, probably just at the thigh. Maybe mid thigh, maybe high thigh depending on how tall you are. But this is so cute with these buttons, with the pockets on the breast part right here. So pretty. The cut is pretty. This is just really cute in how it stitches in at your waist. It really is very flattering for a coat. I love it when these coats aren't double breasted and you actually can do them up. That is such a plus for me. Great quality on this. I was so impressed with the quality on this one. You can undo the sleeves if you want to and cuff this up if you like it that way. But yeah, this coat is a beautiful coat and I just was really impressed with the quality of it. Now, before we put this coat down, I want to show you how cute this purse would be with this coat. This matches it absolutely perfectly. This is a pink purse. It's in a quilted style. Let me go ahead and put the coat down. It's in a quilted style and I'm pretty sure that I have shown this one on my channel before. So you have the chain detailing that's in gold and you can pull the handle up like this and make it more of a cross body. If you want to do that, got a clasp right here and then it's got the three individual pockets and one pocket in the middle, the two sunglass holders and phone holders, a zipper pocket that's really secure back there. I really like a purse that does have a flap over because I'm somebody that if they don't, I am so bad about closing up my purse every time. And let me tell you how much I loved this. I loved it so much that I bought the Navy one. This is such a good quality purse and I think it's just beautiful. This is the same color of Navy that the coat was that I just showed you. So I think that those two would go together so well. This is a beautiful purse, absolutely gorgeous. Another purse that I haven't had a chance to show you on this channel and this is such a cute purse for anybody that you know that is in college, a high school gal, whatever, somebody that's really studious. I think that this is just so adorable. They have several different styles of this but I thought this one was really cute with the buckle accent and then the two tone with the light brown and then the deep chocolate brown. So cute, I absolutely love it. What's nice about it is when you do put the flap over it, it does have some pretty good magnetic clasps right there or magnetic, I guess it's magnetic buttons or whatever snaps, there it came. And then the inside is just a singular pocket with the zipper pocket in the back and again the two pockets that can hold your sunglasses or whatever you want it to. This is an adorable purse. I love the clasp on it. It's got one hook that goes over it but these seal up pretty darn easy. They're not like hard to clasp. You can just carry it with its top handles and you can also make it a cross body as well. I think this one is very cute and would make a great gift. And yeah, this is one of those ones that I was really impressed with how cute this one is. Last purse that I'm gonna share that's on sale is this beautiful burgundy one. Now this one does come with just like a little makeup pouch which is in my other purse but again it does have a flap that comes over and I like that because I don't zip up my purses very often and I feel a little bit more secure with that. This is a little bit bigger purse than the other ones that I've shown but this one can hold a lot. It does have one pocket on each side and a zipper secure pocket and then in the back it does have another secured zipper pocket. You have the accents of the chain with the straps but you also have some straps that come with it. Again, I don't know where they're at. Some straps that come with it that can make this a cross body if you'd like it to be. This one really does come in a ton of colors. So really beautiful purse, very heavy duty purse. This one can fit, I think it's a 15 inch laptop in it. So this one's pretty roomy and I really like this one. I've shown these booties on my channel before as well but I wanted to show them to you again because they are on sale. These are from Lifestride. I wear these when I wear skirts and I can wear them with trousers or leggings, whatever you want to. But it's really cute with skirts and I can wear them with skirts because they're very comfortable, very well made. I think the detailing on it is gorgeous except for the dog hair. We probably don't think that's very gorgeous but I do love the way that it kind of gathers up like ribbon right here and then of course you have the zipper on the other side. Just a very well made shoe. I love the black suede. I can wear these with just about anything and I got true to size. I wear a nine and I got a nine and they were perfect. Also, I can't tell you what possessed me to get these other than I thought they were just so stinking, darn cute. These are over the knee, high heel suede boots and they're the slouchy style. Oh my gosh, I love these so much. They are just so sexy and so cute. I wear these with a sweater dress that's a little bit shorter and then I'll wear some opaque tights and these and it is so, so cute. That outfit is just adorable and it's kind of like a date night thing or going out thing or when I wanna dress up thing. So if you've been looking for something that would just completely elevate an outfit, I think these boots would be it. We're gonna head on over to household and I wanna turn you towards this tree right here. There isn't a video that goes by that I don't get asked about that tree. That tree is six foot tall. It's a warm cherry blossom tree. Each individual little blossom lights up and I don't know, I don't remember how many lights are on there exactly but I get asked every single time about it. And so I wanna tell you that that tree is on sale right now for the first time. I've never seen it go below about $45. So it was on a little bit of a sale occasionally but that tree is on sale right now so you might wanna take advantage of that if you've been thinking about it. I think it's somewhere around $38. So it really is a good deal because I've never seen it on sale before. So that's kind of fun. And then in home as well are these automatic gravity salt and pepper shakers. Now I've had these in the past and I had ones that were batteries and it took like five or six batteries in each one and I swear that's a lot of batteries and that's a lot of money. Like the batteries almost cost more than the actual shakers did. Well, I found these and they're in black which I like because my kitchen has a lot of black in it but what I love about them is that they're rechargeable. So I don't know if you've ever seen these or not but this is so much fun. So you push the button right here just once, turn them upside down and it grinds your pepper for you. So you've got it ground right there. You can adjust whether or not you want it to be more finely ground or looser ground. Up here you just twist this little knob thing right here. This would make a great gift for anybody. Men love this. So when I got tired of buying batteries for the other one my family's like, mom you've got to get those salt and pepper shakers again and get the recharge one. So I decided that I was going to go ahead especially during the sale but these are really fun, really easy to use and I love having them in my kitchen. Also for the kitchen, this is kind of more along the lines of something that is not necessarily novelty but I will say that this is something that someone that really enjoyed cooking would enjoy having. These are nesting measuring spoons and what's really cool about them is that they're magnetic so they all sit together. I have these that are the dual sided ones which I love cooking with because if you're cooking and you want to use dry on this side and liquid on this side or vice versa, you can easily use just one spoon instead of getting a bunch of spoons out. There's also a leveler right here so it's easy to use that as well. I really do think that this is such a pretty gift. It does come in a few different colors and this is on sale right now as well and the leveler snaps, not snaps but magnetizes to the other ones. So great gift as well. Also speaking of gifts, this comes in such a pretty presentation so if you're sending this off somewhere to someone, beautiful presentation on that. And here is what's inside. I had it sideways, sorry about that. This is a mug and this is one of the prettiest mugs. I got my mom this year and she about had a heart attack. She thought that this was so gorgeous. So you have the hand painted flowers and butterflies around here, the rose. It comes with just a cute little spoon there too. And then of course a pretty little doily that they put in there and then just a really soft cloth to kind of protect it. What a beautiful gift. What beautiful presentation. This is an absolutely gorgeous presentation. And I think I've given this three times or four times to different people and they have just gone gaga for it. So if you have somebody that you want to ship a gift away to but you want it to be looking really pretty when they get it, this has got great packaging on it and what's inside is so special and so pretty. On sale right now with Primaze. Next for the home are this set of vases that I got. I love that this looks like earthenware or pottery and it just is very well done for these vases. I love that there's three of them. Kind of like, you know, when you have a candle display it's just a beautiful look. It's got tan and then the beige at the bottom. I think this is a beautiful accent to any home. And I get a lot of compliments on these. And so this is just a really beautiful gift if you want to give it as a gift but it's on sale right now. If you want to get it for yourself as well. It's a really nice addition to anybody's home. Next thing I'm going to show you can be for a guy or for a gal. I put this into almost every Black Friday sale video I've had from Amazon for the past. I couldn't tell you how long, maybe three years because this is a great gift. Absolutely fantastic gift for anybody, especially somebody that travels or they need to get rest if they are during the day they're day sleepers and they have a lot of people around and they need to get a lot of rest. This is so good. Besides the fact that it fits over your eyes just perfectly and it completely blacks everything out this is a Bluetooth. So it can Bluetooth to your phone and you can do any sort of sounds you want to. You can do ocean waves, you can do fan noises you can do rainwater, whatever you want on here. And that's what I do, I get on YouTube and I'll put my phone on what, find one of those and I'll play it for like eight to 10 hours. I cannot go to sleep without a fan on. I have terrible ringing in my ears, have had tinnitus for as long as I can remember but this completely lets me sleep whenever I'm away. I had to have this when I was in the hospital when I'm in a hotel. I cannot handle it when I'm in a hotel and you can hear the people above you or you can hear everybody out in the hall walk around drives me insane and it will wake me up every time, very light sleeper. Can take the ear microphones out, they're right here and you can wash this which is really nice and the other thing that's really nice about it is that when these are in their little holster here I don't feel like it's a big deal to lay on my side.


First and foremost part of our, you know, being here is to understand, you know, the accounting. In my first inaugural address, I was just discussing the easiest thing to understand, easiest thing to implement and easiest thing to take, you know, during your course of whatever services, whatever work you are doing. We, all people are, I think, in the accounting department, all are in accounting department, okay. Even if the person, I was objecting, Dr. Professor Bartok lecture here, but he just went away. I'll give him writing that even if you teach any technical or any subject, they must keep one subject of accounting. In all sciences, one basic conceptual subject of accounting they must have always. Otherwise what will happen? They will misunderstand. Like Mr. Professor Bartok telling to madam, he, madam is harassing, you know, some document is not there, some voucher is not there, etc., etc. So one subject, particularly in the first year or second, they must have accounting so that they can understand the conceptual issues of the accounting, okay. Now we come to the accounting. Accounting is made of what? Accounting is made for what? For a unit, for a institution, for a trade, for a commerce, for industry or for anything. The concept is different, we'll come later, but I'll tell you one very important thing is accounting, the person who is doing the accounting, the person with honor of the entity, the person who is behaving with the accounting are completely different than the entity for which we are making the account. It is not a fundamental accounting principle, it is accounting concept, but whenever I go and discuss, I'll discuss only first because we are taking the lectures for the bureaucrats, IS officers, then Rastan or other state accounts officers because they are coming from the RAC exam, you know, different examination, they are not coming from the Charter Account and its examination. So the first and foremost thing you have to understand that will make everything easier to you is that the person who is preparing the account, the person with honor of the institution, the person with director of the institution, the person with employee of the institution or anything is completely different than the entity for which you are making, you are preparing the account. It is very clear, very clear. Now what entity is what? Entity is a artificial person, nothing, and he, that artificial person, say this is the entity, I can say this mobile is the entity, mobile can understand a lot of things, I can say this span is an entity, okay. Now this entity does not understand anything, does not understand anything. It understand only that who is transacting to me, who is in contact with me, who is working with me and under what circumstance, under what nature it is working and it asks every question to you only. Like you gave this entity 500 rupees, this entity says 500 are given, so I will not keep, they say I do not, I am only a small entity, so I will not keep anything with me. So this 500 rupees where to put? I have given, I am owner of this entity, I have given 500 rupees, okay, I am giving 500 rupees just to start, say no, no, I do not need any money. So I give 500 rupees to entity, it says from where to put? The money has to go where? I do not keep any pocket, I do not keep anything, I am a single artificial person, simple, nothing. So it says okay, you give me 500 rupees, I tell him that you time being put in the cash box, you took time being put in the cash box, so it is okay, I put in the cash box, so it is a box, okay, so it says box, I am giving you 500 rupees, I will take back from you. So it will debit, hindi maul the naam likdena, debit, debit cash box, that I have given you 500 rupees, I will take back from you. So it will debit to cash box, cash account debit, cash box debit, 500 rupees. Then the system is, it says that I keep the account equal, the balance should be 0, debit credit should be 0, so I will credit to whom? Kiske jama karun? Kiske jama karun? Bola sham agarwal, who are you? Say I am owner, okay you are owner, what owner means in the account? I say it is capital, okay capital, so I credit capital, sham lal agarwal, finished. So it is a computer box, whatever I put inside it covers, okay. So it is a double entry accounting system. This entity says I have given you 500 rupees, cash box, debit, who have given me? I am a partner, proprietor, owner, who are you? I am sham agarwal, okay, sham agarwal. For what you are giving, I am giving as a capital, okay capital, capital account credit. Account talent, talent, very clear.  One solution is very clear that whatever amount has come, whatever amount has gone, whatever asset has come, whatever asset has gone, whatever expenditure I have incurred, whatever revenue I earn, there are two entries. One is debit, one is credit. This should be clear in your mind. And both debit and credit, debit means I have to take money from you and if I take money from you, I will give to somebody, so balance is clear. So this concept you should keep in mind all the way. This is the main concept of the accounting. Never think that this is owner, this entity is not owner anything. It is only an entity which is keeping an account for you. So it is not coming in picture. It is neither carry asset nor carry liability, nothing. Whatever you put, debit and credit. Now what is debit and what is credit? What is debit and what is credit? Debit means, suppose I have given you 500 to him. So I will ask 500 to him. So I am a, even if capital, I am giving as a capital, but I have given 500 to entity. I see entity, I have given you 500 loan or capital, whatever I can take back from you. So this says I have to pay Mr. Agrawal 500 back. Now I am owner or I am a creditor. I am giving money to him as a capital or as a loan or as a supply of material in any case. This entity has to give me back money. Now it depends on the transaction. What transaction you are carrying out? And that is why professor was trying to tell to madam that madam wants the transaction supporting evidence. Okay? Because if you go to the evidence, the evidence can convert a asset into an expenditure. Evidence can convert a liability into income because both are credit. Suppose I am giving 1000 rupees to this entity. This entity can say 1000 rupees is fees given by Mr. Shyam Agrawal to me. So if it is a fees to the entity, it is income of this entity. If say I am giving a loan to the entity, then it is a liability. So mind it that loan or income are on one side. Income and liability is on one side. And suppose this entity gives you 2000 rupees. So if it gives you 2000 rupees, giving a lecture, it becomes expenditure. It will not come back. And if you give 2000 rupees in advance, then it will come back. So it has become expenditure or asset. If the money has to come back to this entity again, then it is a asset. If it is not coming back, it is expenditure. If it has to pay somebody back, it is a liability. And if it need not to pay back, it becomes its income. So this is a basic principle of accounting which everybody must understand. It appears to be very simple, but it is very logical. Logical in the sense that it goes by its own basic, basic, basic principle. And very simple and you know very conceptual and very easy to understand. Now you tell me anybody sitting here could understand this transaction or not. Anybody is aware of not. Now fully aware that asset and expenditure are on one side and liability and income are other side. Because liability and income are credit and asset and income are debit. So this is the principle of basic principle of accounting that this entity does not carry anything. Either it has to pay or it has to recover. It has to incur or it has to create an asset. Either it is income or it is a liability. So these basic principles of accounting takes you a long way. Now every transaction, any transaction in your life comes, you should think only four corners in your mind. Only four corners. Any transaction will either be a income or a liability and counterpart will be asset or expenditure. Or it can be increasing a liability. A liability may increase and other liability may decrease or asset may increase or other asset may decrease. So it will counter the transaction. This is the basic principle. Asset and liability are the balancing. Because asset and liability would say that those asset and liability, what is asset and liability? Whatever transaction is carried on in any entity, if the transaction after incurring the transaction, it is not to be discussed in future, not to be recovered in future, not to be paid in future. Nothing, nothing to be done, you know. It becomes a gone case. If that is the matter, then it is either income or expenditure. But if whatever transaction has taken place in the next year because accounts have taken a particular date or next period, it may be one month, two months. If those transactions carry in the next period also, next period also, if they are carried either as asset or a liability, then it comes in the balancing. So the expenditure income means they are not carried for the next period or income or expenditure. If they are carried, it becomes asset or liability. So we concluded that there is a profit and loss account, income and expenditure account and there is a balancing. All others are part of all these two things. So whenever you carry any transaction, you think in your mind that where it will go. Suppose I purchase this furniture. So this entity say, furniture purchase, I don't know furniture. What is furniture, furniture? Okay, furniture account debit. I will recover from the furniture. Why you recover from the furniture? Why? Because furniture is not an expenditure. Furniture is not an expenditure. Furniture will provide you facility to speak, to sit for one day, two day, three day, ten day, one year, two year, three year. Whatever may be the life. But it will provide you the facility to work. Okay? So it becomes asset. So I say furniture is asset. Furniture, debit. Now who has given the furniture? A supplier. Accent company. So it means I have to pay accent company some money. So furniture, debit, accent company credit. I have to pay money to accent company. We recover from the furniture. Now why I have taken this example. You cannot recover the furniture. It is not a cash box. So what will the recovery? When one year complete or one period complete. I say furniture of one thousand. Furniture of one thousand rupees. Has become now eight hundred rupees. Because its life is only five year. Or four year. Whatever it is. So two hundred fifty rupees expenditure. So whatever I will say, whatever income is there. I will charge from the income. Telling that I have purchased the furniture. Of that furniture. Some part is lost. It depreciated. So that money I have to recover from the income. So that becomes the depreciation. So that two hundred recover from the furniture. And you pay to the creator. If you pay him early. Then you are paying from the other income. Other balances. Other credit. From where? Suppose you want to pay accent company two thousand rupees. From where you pay? Because furniture. Depress may take four year. Accent company not remain pending four year. So I as a owner give you two thousand to capital. So liability of capital increases. I will pay two thousand rupees. My account two thousand credit more. So that will increase. And the liability to the accent company will decrease. So increase in liability and decrease in liability. Is a similar transaction. Increase in asset. Decrease in asset is a similar transaction. Increase in expenditure. Decrease in can also be the same. One expenditure can be recovered. One can be paid. Increase in income. Decrease in can also be the same. But the trial balance. The balance of debit and credit should tally. So every transaction wherever it comes in your life. You imagine that is a system of simple debit and credit. Nothing else. And while carrying out the transaction. While carrying out the evidence checking everything. You should find whether this transaction is creating a set. Creating a set or it is expenditure. Will not create a set. Whether it is coming to me as income. Need not to pay back. Or I have to pay back the money it has come. Those two principles only you have to account for while discussing every transaction. And this discussion will take you a long way. And you will simply able to prepare everything. Cash basis accounting. Double-end system accounting. Accrual accounting. There are three accounting system. People are confused. The cash basis accounting is double-end accounting. Double-end accounting is cash basis accounting. Accrual accounting is different accounting. But what is cash basis accounting? Previously what was happening in the government sector? You are given the budget. Budget means treasury payment. Now what you normally used to do it? That whatever payment you want to make salary or establishment or PF or some expenditure or consultancy etc. These are the recurring charges. So you had a budget of recurring expenditure. Non-recurring expenditure or capital budget or revenue budget whatever it can be called. So capital budget you say furniture, picture or fan or some AC or some you know some equipment etc. So that is capital budget. So budget is given to you whenever somebody supplies you material you approve it. Put that budget 5000, less incur 200, balance 4800. Mark the budget register and bill is passed. Shields signed, verified and sent to the treasury. Treasury pays it. So that is a cash basis accounting. Single-entry system. Because you do not make double-entry. Who will pay? Treasury will pay. What you have? You have a budget. Whatever income comes to you? Whatever scrap sale or any, you know, any scrap sale or any miscellaneous deposit or any investment deposit or anything which may come to you. Or any fees etc. Whatever you recover. That is your income. So what you say? Amount received as fees. Credit to the treasury. Underhead 241, 342, 342. What are their two heads? One is loan head. Another is the receipt head. So receipt head you credit to the treasury and the things are gone. So you need not to maintain any account. That is the single-entry system. Normally people say cash basis accounting. But cash basis accounting is basically a double-entry system accounting. Whenever you make two entries of one transaction, it becomes double-entry accounting. When you do not make any entry, then it becomes single-entry. Single-entry and double-entry both can be cash basis. But double-entry can be accrual basis also. What is accrual? What is double-entry? Cash basis that I will explain later. But you first understand there are three system accounting, not two. People always confuse. Whenever I go to lecture, even professional people, certain people are taking lecture. They say that the accounting is set to only. One is cash system, one is accrual system. Now in person working in the government department, way for them it is very necessary to understand there are three accounting system. Not two. So whatever in education system we are following, if a department is there, then you are following single-entry system. The department says whatever budget comes to you, verify the bill, pay, send it to the department. The budget is clear. So for department it is a single-entry. But for the institution as a whole, it is a double-entry on cash basis. Double-entry on cash. Because in institutions some grant comes. So they have to take grant income and debit to the bank account. So bank account debit and grant account credit. They have to make one entry. They have to maintain a cash book at the center level. So what is cash book? Cash book is not a single-entry. Cash book is a double-entry. Why double-entry? Because one part of the entry is already in the cash book. Suppose you pay the amount as expenditure. So you go. What entry will make? expenditure account debit to cash. Cash gone to you. So two cash, cash books you have taken cash. Whenever you take back from cash book, cash books you have to credit. Because you have taken money from cash books. You are given, debited. Taking, credit him. So you have to give credit. So credit, cash books, debit to expenditure. Because to whom you are paying? I am paying for the establishment. So the entity says, okay, establishment, debit. Now whether recoverable or not recoverable that you decide. Now say I say establishment, salary, PF, gratuity, printing history, telephone. They are revenue head. So it says, okay. Establishment, bracket by revenue head. Debit. Understanding is debit. Okay. So it will go to revenue expenditure. So this is the system. When cash book is maintained it is a double-entry. It is not a single-entry. When cash book is not maintained, only budgetary system is done, it becomes a single-entry. So you should be clear what is single-entry, what is double-entry. But what happens in the government department, education department, you prepare the cash book. Then you see it is single-entry.  One, two, three, four, five, six, seven. Make it total. And then cash balance itna. How much amount cash balance? And make total given the money. Finish. Single-entry. Because you are not preparing the, you are not posting the entries made in the cash book. Head-wise. You are not making the classification. What you are doing? You are having the classification register. Some people have classification in the cash book only. One, two, three columns. They will total the cash book. We will classification the cash book. It is a double-entry. Double-entry. Because once you are telling that cash came from whom? Bank. So you say total payment made by each department. Say one department pay 10 lakh rupees on various heads. And the closing balance is 10,000 rupees in the bank. So 10 lakh, 10,000 is total. Okay. 10 lakh will come from where? Either it has come from the head office. So it will say H-O. Central office it will say C-O. Restar office it will say restar office. Or from bank it will say bank credit. Because sometime money may be given a bank extra. Or sometime the previous balance of bank may be utilized this year. So the opening balance of bank was 10 lakh. And now closing balance is 10,000. So opening balance of bank has provided you funds to incur the expenditure. So this is the system. So whenever a cash book is prepared you should prepare a trial balance, known as trial balance that from where the money came and where money goes. And what was the opening balance in our pocket? What was the closing balance? A simple system. You go from the house. Whatever money available in pocket is your asset. Asset means it was opening balance on the day when it started your journey. It is your asset on the first day. Now whatever money came inside, suppose somebody gave you 200 rupees fees for lecture. So that is lecture fee. 100 rupees pocket, 200 lakhs of it, 300 income. Expenditure, distance expenditure, 200, 50 rupees, balance 50 with cash, 30 with cash balance. So opening balance 100 rupees, 200 rupees income, 250 with expenditure and 50 with cash balance. Trial balance, 300, 300, finish. So take your pocket as a trial balance. You will understand every transaction. Now in the pocket and the entity, only one difference is certain expenditure or revenue expenditure. Certain expenditure are capital expenditure. Revenue expenditure paid finish. Capital expenditure you incurred but the benefit will be available on next period also. I gave you salary, salary month finish. Next month it will not be available to you. Next month you again want to salary. So go on finish. But I gave you the advance. Food can advance. So say food can advance. 10,000 will be given. Every month 1,000 reduction. So gave in September 6 month reduction. 4,000 will be deducted next year. So 4,000 is advance. Not deducted. That I will take. That I will take next year. You assume that everything is paid. First you understand everything is paid. Because if you don't understand everything is clear then we will not be able to understand next step. So first we should understand everything is paid. Paid incurred. Or not incurred, credited or debited. If not incurred, debited or credited. I told you now I supply furniture. It is either paid from the cash box. Not paid, it is credited. It means it is credited to my head. So 1,000 rupees I am giving a lecture. I am not getting a fees. It is debited to institution. IIT Bombay 1,000 is recoverable. So but I can expand only in my pocket balance. So cash balance will be go, will go by the cash, cash book. So cash, so far cash book is concerned. It is concerned only with the cash. So far paid or not paid is concerned. It is not concerned with the cash book. This transaction will not be entered in cash book. Cash has to tally. Pocket cash, morning, evening has to tally in the evening. No transaction which is not paid or not received will not come in the cash book. So that will be a separate book. That will be a separate book. Or people for convenience keep a different column in cash book. So that is debit and credit set. That is a counter entry. Debit also, credit also. So for that there is separate book called as journal. Journal says two entries. Because one entry in cash book what is benefit? You have to make only one entry. It becomes double entry. Because one should pay expenditure and put on credit side of the cash. The opening balance 100 rupees get reduced by payment. So closing will be 50 only. So one entry to credit the cash is not required to make. Because cash balance is written in the left side. Right side you have expenditure entry. So balance is 50 rupees cash. Automatic cash reduced. Automatic cash reduced. So because cash book is maintained on opening balance, closing balance. So second entry is not required to make. Because one side is already there in the cash book. That is a simple system. You put any example in your life and calculate you will find it is very easy. You make entry first separately and then maintain the cash book you find the same balance. And you will say it is very easy. So this is the cash basis accounting you must first understand. Is clear everybody? No problem? So how is it? It is the easiest thing in the life because normally since morning to evening we are maintaining a cash book. At every point we are whenever you go to a shop you will find how much money I have put. No I don't have put. Where are we? Where for the? Okay opening wise 5000. I have drawn back again 5000 became 10000. But I paid 10000 the school fees. So money is not here. 10000 is gone. So purchasing cannot be done. Every moment you prepare the cash balance cash book in your pocket. So this is the cash book and cash system of accounting. And it is a double entry. When you prepare cash book it is a double entry system accounting. Okay. Now double entry and equal system of accounting. What is the difference? Why MHRD is behind everybody to prepare account on double entry accounting system? This concept I want to take later but I will give you just brief only. Because first we have to go accounting concept. All accounting concept there are lot of accounting given in the book. So I will go by you know item wise so that whenever you read you find this is what that. Okay. So double entry accounting why ministry is in interest study that at any cut of date any point of time you are not able to understand and arrive at and report that what is my asset today and what are my liabilities as on today. Because you are accounting only payment basis whatever paid you treat expenditure what are required you treat as income. So you are not able to understand at particular date which is normally end of the year end of the month end of the quarter you are not able to understand that how much asset I have how much amount I have to recover. And how much amount I have to pay that is my liability even if I have not received any amount I have to recover even if I have not paid the amount I have to pay. So some people carry I am a good position having lot of cash balance but at next morning on 1st April 1st we have to pay immediately all the payment. So his enjoyment goes you know only for 2, 3, 4, 5 days when the days come balance become near. So that is why ministry came that there should be a equal system of accounting in equal system accounting only one thing comes that on a particular date.  Whether amount received to you or not if it was income you will account for as income and saying that I have to recover this income from these fellows list it out. And whatever is your expenditure whether you incurred the expenditure you have to pay the salary all the people but salary bill not pay bill in March you have to pay in April. So you must know how much amount I have to pay on account of salary for the particular year in which the persons have done the job. So why particular year to have a matching concept that whatever income you account for is your particular period, particular year and expenditure also for a particular year so that they can match together. If you do not match then mismatch will be there in one year income will be used another year expenditure used. So a matching concept is coming when you have actual system of accounting. So when you start actual accounting you will learn matching concept, monetary concept, going concept, a lot of concept will come. Those concept you will automatically understand when you start making the, automatically understand. So first I will take up the concept terminology and then we will conclude the mercantile system of accounting or the actual system of accounting or the people say double entry system accounting double entry case also. But normally double entry people say it accrual based accounting. So not to be confused now. So all these terms I think you will be very clear for that. So let us go item to item what are the accounting names? What are the accounting heads? We will go by A, B, C, D. So that you can understand well. Account. One is one you will find account. What you will say? You will say account. What account?  Expenditure, whatever name? Whatever name you have in your mind, you know institution, fees account, cost and money deposit account. Every head, every head of receipt or payment. Every head of income or expenditure. Every head of asset or liability. Whatever may be head which is not matching in one head. Salary means salary payment. Now salary payment you want subhead? Salary payment to admin staff, salary payment to technical staff, salary payment to hire staff, salary payment to junior staff, salary payment to PON, salary payment to driver. You can have separate heads also. So how many heads? What number of heads are there? You can have more heads, you can have less heads. There can be one main group. That's salary payment. Okay, salary payment. Now in salary payment you can have salary minister staff, salary education staff, salary other staff, whatever names you want you can have subhead. So account means there will be an account of that particular type of transaction. So that the particular type of transaction you can get at one place. Because whatever entries you are having in cash book, cash payment and whatever entries you are having when we see the mercantile laser in a journal book. Both are posted to an account laser. So posting is made account wise. Suppose you have to make payment salary every month. So this account will say it will have the, you know, date, particular and amount. Okay? So it will say date on 4th April 2013. Amount, salary paid cash, cash, accrual base, it will say salary payable, it will say amount. So those entries which are related to salary for the whole year or the whole period. Suppose you want to make total quarterly. You can make quarterly account. Yearly is yearly account. Normally we take yearly so that you can understand better. But instead of yearly you can make quarterly or monthly or happily also. Okay? So yearly account means a particular account of which all transaction, whether debit or credit are entered in that particular account. So we prepared a trial balance while making the cash book. I will tell you only two entries. Okay? Will you? Two entries. One entry, I have given 1,000 week cash as a capital. So this entity will say 1,000 rupees credit to Shyamagarwal capital account. Capital account bracket with Shyamagarwal because some, there may be partnership from, then there will be two persons. So it will be capital account Shyamagarwal. The proprietor, proprietor capital account. The partner capital account Shyamagarwal. Okay? Debit to cash books or cash books debit? Cash account debit to Shyamagarwal. Okay? Now, second entry. I have paid cash to purchase furniture. Okay? So furniture account debit 1,000. Two cash. Cash is returned back. So furniture debit to cash 1,000, 1,000. So 1,000 was in box. 1,000 returned back. So cash balance become nil. Now what happened? 1,000 furniture is a set debit. And 1,000 capital is credit. So trial balance is 1,000 asset. Furniture account debit and Shyamagarwal. Trial balance tally. This is tally. In this fashion, whatever transaction you want, this debit and credit will tally you. Now say, in furniture account, there are five entries. In first month, I purchase 1,000. In second month, I purchase 2,000. In third month, I purchase 4,000. In fifth month, I purchase 10,000. So how do you know total furniture account? You cannot know. What happened in cash book? I paid all the time cash. All the time cash. I went to the company, you know, this entity. 1,000 gave, 1,000 cash book. 2,000 gave, 5,000 cash book. Now 1,000 cash book become paid to furniture nil. 2,000 became paid furniture nil. 5,000 became paid to furniture nil. So total amount, 8,000 furniture and 8,000 capital. So from where we will get 8,000? We will not get 8,000 to one place. Because not only furniture entry, there are other entries also in the cash book. So all the entries in the cash book will be posted to the respective account. Okay? And that account will tell you in the whole year, 8,000 is entry, 8,000 case came balance nil. Now there are going to be 1,000 entries. So that way 1,000 entries amount will have, definitely has to be in cash book. And there will be 10 heads. So all 10 heads taking together will tell you to the total amount available as credit to the cash book. Very easy. So like 2 entries, there can be 5. Then you add 6. Then 7. Then 8. Then 9. Then 10. Then prepare the trial balance. Then there will be 10,000. So it does not make a difference. The difference will come only when in the cash book side, I have written 5,000 as furniture purchase. While posting to furniture account, you write 6,000 wrongly. So if I have purchased 5,000, you have to debit furniture and only 5,000. Not 6,000. That you have to mine. If you debit 6,000, then your balance will not tell you because 1,000 where will you come? In cash book, 5,000. Now only I paid 5,000 paid furniture. So you will have a difference. So that will give them a laser account is prepared to have all type of transaction of a particular head at one place. So that for the complete year, you can know how much expenditure I incurred on salary. Say 2 lakh rupees. Who paid? 2 lakh rupees. 2 lakh rupees Sambra and Agarwal paid. Sambra and Agarwal is who? I am a proprietor. You are proprietor. So you paid as loan or capital? 1 lakh I paid as capital. 1 lakh I have loaned. Why you paid loan? Why you paid capital? Because I paid capital for 1 lakh. Because I had only 1 lakh in my head. Another 1 lakh is not I am having. So where money will come? In the next year with this salary I will earn money. So from that earning I will take 1 lakh back. So next year what happen? You arrange the classes. All those faculty you earn 4 lakh from the classes. And 2 lakh is expenditure salary. So 2 lakh you save. Out of 2 lakh, 2 lakh is available in cash books. Out of cash books loan is paid. What will happen? My loan is paid. Capital normally is not paid. So 1 lakh my loan is paid. 1 lakh become nil. And cash balance of 2 lakh becomes 1 lakh. So that account is valid. So this says who has given you the money? Now the question double entry will come? Okay. The money was not there then whom you have to pay? I have purchased furniture 10,000. I have to pay accent company. So trial balance will say furniture 10,000. And payable to accent company 10,000. Balance telly. So at each and every entry the balance of debit and credit. Means asset and liability expenditure or income should telly. In all the debit heads there are either expenditure or asset. In all the credit heads there is a liability or income. So both credit and their nature is credit. Because whenever amount comes to you as a profit. Even if it is a profit. Why it is credit? Now concept of credit is from where it comes. Suppose this is a business entity. You have given him 2000 income. No expenditure, nothing. No, not only one. He has received 2000 rupees as cash. Why? Because I am owner of this entity. I came here to take a lecture. And professor paid cash 2000 rupees in the name of this entity. This Shyam Agarwal and company. My firm name is Shyam Agarwal company. So he made a cheque or cash Shyam Agarwal 2000 rupees. So it got 2000 rupees. And he said no, no, no. No income is not mine. Because I have to keep nothing. So who is the owner? Shyam Agarwal. So I have to pay to Shyam Agarwal. So what to do? 2000 income will come in income side. No transaction. Then in the P&L account it is transferred to capital account. Income, who is the owner of the income? Me. So it will transfer to my account. Then income will come credit to my account. So whenever cash will be there, it will pay to me. So that is why the entity concept comes. Income does not pertain to this. Income does not pertain to this. So whatever income is there, the income is also liability for the entity. Because income does not belong to this entity. You go to this point. Now I think it should be very clear. Even income comes. People may say income here, income is your asset. People are confused. Whatever income or entity, it is asset. It is income. It should be powerful. It should have a set. It is true. But income is not his income. Income relates to either proprietor or partner. So net income, income less expenditure, balance income, it will credit to owner. So it will keep balance. Okay. Now what is net balance? 2000. So 2000 income he has to pay to me. Where is 2000? 2000, 1000. Facebook once are recoverable from IIT. So when IIT people give him, it will give 1000 to me. If I want to case 1000, I can take 1000 case. So account is net. So income does not relate to entity. That is why income is also a liability. You go to the point. You have to put this finally in your mind income is not a set of this company. Income is a liability. Whenever I go to government department, they say, when is what you are doing Mr. Agrawal? I want 50 crore rupees profit and you are showing in liability side. How it is liability? It is my profit. Because whatever P&L account net profit comes, it transfer to the liability side. Because liability side we have capital. Because capital for this company, whatever capital I am giving, it is liability for it. This entity, I am giving a capital. But the capital is also liability for this fellow. I am preparing account for this, not me. Not my individual insight, my heart. My heart debit gate are different for this. So I am giving capital, it is liability. So whatever profit you are earning, that is also liability for the company. Because this company has to pay to government. No, no, no, it is my company. I am the government officer and I am managing the actor. This should be my asset. You are not mistaking and you don't understand. You should be removed from the auditor. Ultimately this is happening in the bureaucrats. So this is very much, Bakshi sir, that you must have the classes first for the bureaucrats, second for the account officer, so that they can understand what is this. Because what happened? Once we go to the seat, we say, normally I discuss in case-based accounting also we have to prepare balance sheet. Balance sheet? What balance sheet? There is no accrual, no money came, money gone, only case balance. Why? Because as on the closing date, whatever is a case balance, that is asset of that company and that asset has to pay to the owner. So owner is the liability. No, no, no, you are mistaking. I am the managing director. That is a big problem. I am the secretary of MRD. How Bakshi you understand like this? So that becomes a problem. So whenever I take classes for bureaucrats, because normally I teach in the OTS, I first teach them the first lesson that this entity is different and you are different. That is the first part. So this will make you understand a lot of things. Now you will think any time you will be very easy for you to understand. So this entity concept is a must for you and that is the part that we are working in this environment. That is the easiest thing. You ask whenever I read accounting in 10th class and 11th class, I had two years I had accounting system because I am a shop, my father is shopkeeper. So I think when I was in 8th or 7th class, I used to write the books of the shop. Whenever I used to go in the schooling classes, I used to speak. This will happen like this. How do you know? I am doing in my routine practice. So that makes you very easy to understand. And if any person in the country does not understand accounting, even if it becomes IIT in top or any top R, I think he is failing in his duty because always he will be questioning those things which will completely be rational, ethical and in any center even if it is a medical, it is IIT, it is engineering, it is technical, civil or whatever they are especially only for one thing, their particular subject.  Why 10,000? In market available 6,000, madam says no, no, you first year bought 6,000, now how about 10,000? Oh madam, I don't know, it was non-people. Why non-people? You have got 10,000 system, open system, how can you do it? What is the life of it? Three years. Three years life only. Where are the many things to do? What is the system? So accountants are much more powerful. They understand everything. Not one subject. There is no one sign. Accountant is a sign of every sciences that convert into all the transaction into a monetary system and by which everything is measured, monitored, controlled and administered. So this is the most important accountant system. Thank you very much.