Have the slides for the sponsor. I will be grateful. Thank you so much perfect, so this is The Eden the Association of European Distance and e-learning network webinar part of the open education week which is happening this week in fact globally and We have webinars every day at around one or three p.m Based on central European time, but today we have two webinars This is the first webinar and this is the webinar which is dealing about open education technologies and if you are tweeting or sharing Information which you can see here or find during this webinar We will very much appreciate if you can use the hashtags which are below and Eden handle so we can identify what everybody's saying around the world So thank you so much for coming to everybody who is here And I just want to remind you why we choose this topic Technology is playing a very important role in the education nowadays. In fact, we can say a tremendous role And in european union erasmus plus project which is led by the university college london By the knowledge lab from the university college london. We have developed an abc to really learning wheel which relates with all the tools which exist nowadays in The use of your education and we found over 500 which is amazing and part of this Part of this quite a lot of them are in fact open education technologies And we are very happy to have martin doge amas here from moodle who is going to present us about the open educational technologies movement and How to say the blueprint which he is Leading i'm diana doner for everybody to to know me i'm coming from romainia from the polytechnica university of And we have very interesting speakers today. We have two CEOs and founders Which is martin doge amas from moodle coming directly from perth, australia And also zvintor griff with the founder of h5p, which is coming from norway We also have dark bell show from the moodle net, which is A new network for educators and students We have professor alfredo suero from university of porto who is my colleague in the Eden executive committee and we have professor carne holotex for coming again from pincera So you will see a lot of interesting presentations, but Let's not lose the time. I just want to start with martin's presentation these two slides are for the end So martin the floor is yours and until we upload martin's slide Let me say something about martin martin Is the founder and the CEO of moodle moodle is the tool which almost everybody in the university is used as the for learning for supporting learning as a learning management system Even if he doesn't like that moodle is told to be a learning management system We still consider every label like that in the resource mainly And he's a very good friend of mine And this is just the tip if you are coming to timichara to the event conference in june You will be able to see and shake his hand in person and even take a photo with him. He's very friendly. So martin the floor is yours Are we still allowed to shake hands these days? I think there might be a Might change. Well, anyway, I would love I'm looking forward to being there. Thank you diana and thank you for the invite Eden is something I've known about and been involved with on the edges for a long time But I really think I've spent much time You know in an eden event like this. It's a pleasure Um, so Obviously, I'm just going to give you a bit of background about moodle because people have different impressions about it And I want to explain what's happening there Our mission has not changed in a long time. We're here to empower educators and to improve our world specifically We're very strong Supporters of our values and we try and talk about them and push them every time we can And what we're trying to build our vision is to build the the most effective platform and effective is a Balance between quality and cost The efficient And we have a very, you know, obviously education is a basic human right I know a lot of you know that But it's something that should be said and it's important actually as I go forward If you have a basic human right you need to give it Strong foundations and then it's be things that we can trust the word trust is very important So I'm going to very quickly just pretend we're give you a little metaphor here of some things I've been thinking about imagine this is star wars. I assume you've seen star wars and here we live on this planet um That the galactic empire as I see it is the the movement of profit obsessed companies We have these giant companies that are growing and becoming trillion dollar companies um that Do not mind destroying planets like ours And a lot of the problems that we have are caused by you know greed ultimately Um, I'm not going to talk about these but um, maybe in the in the The emperor palpatine of this universe is these large tech companies that that are seeking to control Right, they want to control things and as a as a general rule That doesn't go well having um Large controlling entities like this focused on profits So I see as as part of the resistance rebels creative commons open source Open education global eden UNESCO And open education resources in general I'm going to put moodle as Luke Skywalker. Why not? and What we're trying to do is fly around the universe and of the earth here and fix some things I'll get back to that metaphor later This is the picture of moodle right now moodle has is a lot of use around the world these are all of the different consonants and large regions moodle is predominantly used everywhere. The only place where it has stiff competition is in in north america And this red company for example spends a hundred million dollars a year just on marketing That's way way bigger than like our total budget at moodle for example So, um That's that's where we are what this means is we have a huge community Um of users and some of you may be using moodle But around the world, uh, we have many hundreds of thousands of people who support what we're doing in open education in general We have good parties sometimes too Um, so we're trying to build this ship, right? So let me let me, uh, talk about the the future of what the ship will be flying around in um We are facing some quite scary futures Right as a planet. Um, the world is kind of shrinking. Here we are. I'm in australia, but i'm talking to you now Um, we have more data than ever real and fake And artificial intelligence is controlling systems. It's starting to guide us in our choices It's giving us the options Before we ask for them And those ai's often can controlled by algorithms from these companies. I was talking about before There was an artificial intelligence algorithm last year a new neural net That you can give it one sentence and it can finish the article It can write a whole article and when you read the article as a human you go. Well, that could be true It's quite an amazing thing so With all of this data and all of these ai's and all of this Stuff going on issues are getting very complex. It's kind of hard for anybody to know It's very interesting right now. Say with coronavirus now. We what we need is like Uh scientific information. We need education at a global level and instead if you see what's being passed around on on social media and And many other places is a lot of nonsense people selling products that you don't need right because oh, they're taking advantage of this situation So all of us are struggling and I think we're all feeling it. Uh, I'll overload every day So if we're looking at the world, uh, these are the stg problems that we're facing How does a population that is struggling under an information overload um cope with a These problems. How are we going to solve these problems? If we don't have a good handle on what's true or not if we don't understand the the ramifications of things It's easy to go down to the local store and buy a lot of things But if you don't have an education that helps you understand Well by buying this thing by having an impact on another part of the world or the ecosystem that I live in Um, then uh, you know, we're leading ourselves into further problems So the future lies in the quality of education and it's this keyword quality Um, that we that I think we need to focus more on um this Someone when they converted this slide, uh, must have killed it But what is what it actually says is that universities should Uh, uh should model a better world I'd love to see education institutions Um, not separate research from teaching but research they're teaching more like as the main thing Um, they should be we should be in our universities looking at how should how can democracy be better? How can we work together more effectively? How can we? um Separate real news from fake news and these kinds of things Now people say it's quite hard to do but this is the alternative the alternative is if if we as the educators don't solve these problems The big companies are going to solve them for us And they're going to solve them in ways that we may not like in the future If the whole if you're only option in the future is to is to run a university is the software comes from one single big company And when you switch on the university in the morning that logo is all over the The company all over the institution Um, that's not a good future. That's not a future. I want for my children and my children's children So I'm very focused in what I'm doing. Um, not only obviously moodle, but like it's a wider problem How do we get the world's best educators and students working and learning together? Well, the only way I know how to do it and the only way I can think off to do it is with open technology and communities So it brings us to open ed tech and look at that concept that Diana mentioned um, so the idea is for open education technology is uh, investing in the common good and building an infrastructure for the world and I want to give you a couple of little Facts that might help you see how this makes sense This first one is I'm I'm sure most of you have heard of edgy roam edgy roam is um system used globally as you can see here so that if you have a username and password on any institution in this network when you go to another one you can log straight in and I have an account When I sometimes I'm walking down the street. I could be in new york or I could be in Sri Lanka And I look at my phone and it's on wi-fi and due to the magic of edgy roam This is a beautiful little piece of ed tech that's very very low investment very very low maintenance It's maintained as a small project in giant or giant the network in europe uh But the whole globe benefits and this is the kind of thing i'm talking about these nice small pieces of ed tech um another really Good thing to to point out if you haven't already heard is that the unesco in november This slide's been a bit messed up again um That unesco in november made a recommendation Um, which is a very strong recommendation. It's actually the result of every country in the world except for the us And maybe trinidad and tobacco or something um have said uh unanimously We want to support open education resources um and Now all of these countries are starting to develop supportive policies, which means moving money away from textbooks and commercial solutions towards open education resources, which is just like the best news ever um It means there's going to be a lot more funding for these open things because there's not only the oer But like where do you put the oer? How do you make the oer? How do you curate that stuff? And doug's going to talk about one one thing later Um, so um, we started open ed tech as a way to get people together who are interested in building these technologies um and working together to produce a Um, a fairly standardized kind of model a platform an infrastructure For the next 100 years and we say 100 years because that gets everybody thinking beyond You know a grad's project or the next three year plan If you think 100 years you're starting to think about you know humans as a species living on the planet What's the best way for us to be learning and teaching our next generations? So we had a meeting. Um, uh, this is a photo of uh, some of us who were there at the end We had two full days um hard work. There was some um Good projects who came along. There were some Professors who came along from various places. We had the open education consortium represented. We had um It's some other products and it was just a really good time. We I got everyone working pretty hard um And we we did a lot of brainstorming and we came down to a couple of things. I want to quickly run through So the first thing is a a list Uh, it's hard to read this but um a list of what we thought were our principles And that to help us guide everything else So there is education as a basic human right open ed tech is the best solution for it We want open standards. We want interoperability We want the control of ed education technology to be collectively shared as much as it possibly can be We want to empower educators. We want education to drive the technology um So uh It's some of the things that we came up with in that two days. We prioritized these things and I love all the things in this list That really helps us decide what to do So then then we decided to work on what are our focus areas and things that we want to work on So there are six things in this list um The the first one here is um building a global education cloud Now this is looking for ways to connect Machines to connect servers to produce a kind of a general use cloud for education that you know, if you imagine every university put in one server Um, and they were running something like just like edgy roam does a standard piece of software If they were running some software that allowed all the servers to function together as a cloud We could easily build fairly easily build something that was comparative to you know, google cloud or um aws or something like that, but it would be owned by the education institutions um the On the purpose of building that is that now you have a platform that you can trust For a hundred years and on top of that platform you can start building um Systems for global recognition badges and things like that. Now you have a place to store them um, you can build uh, this idea of a globally idea bank, which i've got time to tell you about but it's a terrific idea You can um, we're also very interested in focusing on interoperability standards So the open ed tech group are not there to create new standards, but we are there to push Standards that we think make sense to highlight things that are good and um and so on and and finally what we want to do is be a catalyst for change. So we want to Start thinking about how do we show people that joining the open ed tech? Infrastructure is a good idea and That it's going to be a win-win for everybody in that that's I find it easy to talk about it But I think we institutions take time to change So Come to the website. It's open ed tech global I think the links in the chat From there. There's some early discussion forums started very recently where we're starting to discuss those things I just mentioned. Please come and join us. So we're looking for some people to help lead these working groups And if you're interested just come along and tune in. It's a moodle site at the moment And so if we go back to Star Wars what we're trying to build here is a kind of A group within all the resistance Something like a Jedi council, right where instead of using the force we're using the source So um, that that's what's happening here. Everybody's welcome We'd love you to join in and really this is the goal. We have this tiny planet, right? We need to decide how we're going to connect all these people together in the best possible way And that's me for right now. Thank you very much for your time I'm happy to have any questions. So much Martin. That was very interesting and very challenging I can say and maybe for a lot of our participants Quite new information about the open ed tech global movement And we are really looking forward to getting forward as many people as possible You already have a question there, but before we answer to that question I also have a very quick question for you. We have one or maximum two minutes for questions now because we are running a bit late Basically is what do you see as the major major challenge for the adoption of open education technologies by the Well, uh, we don't have big marketing budgets We don't have salespeople who go and talk to the vice chancellors We don't have those sorts of things. So it's a community driven thing and we need the community to help and We need support There's another question further down someone's asking about usability and accessibility in Moodle Those happen to be our two top projects and our two top priorities at the moment, but To get those that sort of work done in Moodle costs money We have to find that money a lot of people who use Moodle don't pay for Moodle. We don't charge for Moodle And uh, so we have a lot of people saying, oh, why don't you do this? Why don't you do that? And we go, well, we're trying our best with what we have So we need the support of the community We need the community to support these sorts of things if you believe that open software and open education technology and open education are good things Please try and make your institutions support them financially in some way because that's how we have the energy To employ developers to employ experts to employ All the people that take you are also some questions that we can also answer by texting, but I will pick only Yes, I can I will pick only only one Which is from coming from the former president of Eden arena volunteer agenda, which is saying that where we can find The tools and the everything the resources for teachers and students And I think Doug has the answer for that because that's what Moodle net is for. So if we can have Moodle Doug Flight, please Dora. Thank you And I will just briefly introduce Doug until then which is coming from In fact, he's coming from a tiller foundation. He was very very keen and An evangelist on open badges before this is how I first knew about Doug and he's now in charge with Moodle net, which is a Moodle network Moodle based network for resources, which is dedicated to teachers and students so Doug the floor is yours and Martin if you can answer some questions in the chat I will really appreciate it. Thank you Great. Thanks Diana and thanks Martin So, yeah, I've been working for the last couple of years on on Moodle net taking it from an idea that Martin had I'm just trying to flesh it out. So I'm hoping in the next 12 minutes or so to kind of share where we're at With our kind of small part-time team and the kind of strides we've made forward recently So I'm going to go quite quickly. I do apologize firstly for my accent and also for the speed in which I'll go I have pre-recorded this presentation and put it on twitter and you can also get my slides via even Okay, so at Moodle our mission is to empower educators to improve our world and that it kind of runs through everything that we do And so that's where Moodle net has come from really you'll be used to Moodle LMS Which is the core thing that is used by over 175 million people around the world But you also might be familiar with the Moodle app Moodle cloud The new service, which is Moodle workplace, which you can get through Moodle partners The MEC program Moodle educator certification and now Moodle net and that might be the one that you're least familiar with Because we haven't quite launched it yet. So I'm going to go through five things I'm going to go through quite quickly. I do apologize if English isn't in your first Language that if I go too quickly My apologies for that we've got lots to get through but I want to go through what Moodle net is who it's for How it helps how it works and what's next for us as a team So first of all, what is Moodle net? Well, we know that Moodle LMS is a private space for teaching and learning and that's exactly what we want We want those spaces to be private for those interactions between teachers and students and student to student But all of these educators have these great ideas and resources. So where do they go to share those? Well, the idea is that they go to to Moodle net and that's the place for discussions And to share resources So Moodle net in a nutshell is a space an open social media platform where you can share open content and engage in professional development And the idea behind that is that we're going to improve the quality of education by having the kind of impact We've had through Moodle LMS over the last 17 years So who is Moodle net for? Well, it's people like you and your colleagues. So educators learning technologists Trainers in corporate organizations teaching assistants and also systems administrators who are kind of caught between Outsourcing and kind of keeping things private. So all of these people have a stake and an interest in in Moodle net I would say Now when we did this original research when we tried to figure out what it was the educators needed All of those icons that you can see on the right hand side those logos They were the kind of things that came up in our research and the challenges that educators had were around Finding where they had a conversation that they'd previously had before and also finding resources that they'd come across and couldn't quite find again but also Having those places separate from their LMS and really struggling to kind of link those two places where there being social and finding resources With the LMS and getting things into Moodle So we found that really when we boiled down those needs It was to do with discovering and sharing high quality ideas and openly licensed resources Making sure that those resources could be easily reused and legally reused Adding those to courses and engaging in discussions with a shared context and what I mean by that Is that it's not just putting a tweet out and hoping that someone relevant is going to respond But it's having communities of people who you know do the same kind of things as you do and have that shared context So that's where we kind of began And our hypothesis behind Moodle net is that educators don't just need a better google Because learning is actually social If you think about it search engines require that you know what you're looking for already You have to type something in whereas sometimes you discover things via serendipity And also individual resources exist within a wider context I used to be a teacher and you never just use one resource for a lesson You tend to use a range of resources of the you know A lesson a course a scheme of work So those exist within a wider context and we wanted to make sure that that wider context was available to you So how does Moodle net help well before I show you some some screenshots? um, it helps educators, but because it helps educators by um They want to find teaching and learning resources that are high quality which are openly licensed So they don't spend ages searching google and open education repositories It helps learning technologists because they are trying to empower their colleagues And they can connect their colleagues with other like-minded people easily through Moodle net And they don't have to endlessly search OER repositories It helps systems administrators who are as I said before are caught between Outsourcing and providing spaces which are either locked down or fully public Moodle net is going to allow a bit of both And then finally it helps trainers and teaching assistants who want to showcase what they've done and also support educators So they can have professional profiles and also share their achievements and resources So we're really trying to serve the needs of educators and all of the people that we work with So we began a couple of years ago and from the beginning we designed Moodle net as a place Which would sustainably empower communities of educators to share and learn from one another So communities are at the heart of Moodle net communities of people coming together To curate collections of resources and engage in professional development So last year some of you might have been involved in this This was the kind of value testing proposition testing the value proposition in Moodle net And we we tested out and people really liked the idea But what we found was that the interface was a bit confusing So we actually completely rewrote the back end and front end of Moodle net and it's now in a much better position So when you log into Moodle net what you see is this And this is this is live now these are screenshots, but this is live and we're about to start testing on this again You see the discover tab you see featured collections and communities and you see everything that's being shared on your instance The thing I haven't mentioned so far, which I'll go into a bit of detail in a moment Is that Moodle net is federated and Moodle LMS are completely separate private sites Moodle net out of the box Is federated they're connected together Which means that you can join communities on any instance around the world any organization any university So these are featured collections and communities and these are the updates at the bottom around The things which are happening on in your university in your organization And then on my Moodle net this other tab These are all of the communities that you've joined the collections that you're following and the people that you're following So like a social media feed in reverse chronological order So you can get updates on the things that you care about When you go into a community like this one called the lounge You can see the tabs say recent activities and collections and discussions So communities curate collections of resources and those collections are really powerful and really the the building blocks of Moodle net So let's just go into a collection This particular one is spaced repetition within the community Instructional design and higher education and you can see that you can share resources here by adding a link Like a bookmark to somewhere you've found on the internet or you can add a new resource If you share a link then what Moodle net does is it goes out and gets all the information and brings it back for you So you don't have to type in loads of information. It adds the title and the description and the image And then when you put it into Moodle net, there it is really easy to add And you basically added a bookmark for other people to find within a collection of other relevant resources And likewise, we're going to improve the user interface here But when you add a resource you can upload the resource add a name and a description and an image And you can choose one of three creative commons licenses And we're using what creative commons call free culture licenses here to really make those resources as open as possible Now when you go into um into here into the collection, you can see now that that resource has been added We've got one added by link and we've got one added by upload with the creative commons license showing And if I go to search now when I search i'm not just searching my own instance of Moodle net I'm searching the entire network because you connect your Moodle net instance to a Mother shaper a kind of a search index and I can join communities on any instance and engage in those conversations No matter where I'm in the world and follow collections to So here's my profile. You can see that um the communities that I've joined the collections that I'm following The things that I've liked the people that I'm following and this is a bit of a serendipity engine too You can see that I'm an administrator of this instance Moodle net is already localized into several languages The one that I'll just show you here is is arabic obviously arabic is right to left So Moodle net is already working in rtl Which is great I've mentioned federation and this is perhaps the most complex thing about Moodle net We've tried to make it really easy to use but it's very powerful behind the scenes It's a federated social network. So you use a federated network every day It's called email and the reason that email works everywhere is because it's built on those open standards that martin was talking about before If you try to for example to send a message from twitter to facebook It wouldn't work because they're not built on open standards But email is you don't have to think about the email that I sent to dian. Is it going to work? Um, yeah, because diana, of course, it's going to work because diana is using an email standard standard system So for social networks now there is now an open standard called activity pub. So here is martin He's on his home instance of Moodle net, but he can join communities anywhere on any Moodle net instance Um an activity pub is brought to us by the w3c the worldwide web consortium and they work on the standards for the web So activity pub is an official spec Um, it's used by things like mastodon and pluroma and pier tube and pixel fed all these other social networks to So we're not the first people to be using this and there are millions of of users using these decentralized social networks It's important to note that you know like on twitter and stuff your you know martin's username is at moodler Mine's at dha bolshaw But on on moodle net it needs to be a bit longer It has to have the instance there as well And the reason it has to have the instance there is because it's like email you you're somewhere on the entire network So that's an interesting thing to point out there We're gonna or we've already got a mothership the search index of publicly available moodle net data If you connect your your moodle net instance to the mothership as we hope pretty much everyone will Then you'll be able to search across all of those moodle net instances Which make up the network and we're expecting there to be thousands of moodle net instances in a couple of years time Moodle net is of course open source using the agpl license Now I haven't got time to go into how agpl is different to gpl But do look it up. We're trying to make sure that this is for the long term for the hundred years like martin talked about open source and sustainable So I'm going to skip this in terms of advantages of federated systems. Do look those up if federation is new to you Please do have a look. I'm going to instead focus on the the technology and where we're going next So moodle net uses elixir on the back end elixir is a very scalable technology which comes from telecommunications Um, so it's not php and on the front end We are going to be where we are using javascript react and between the two we're using graph ql as a query language Now the advantage of that is that it's very customizable on the front end Very scalable on the back end and you can also make lots of different queries If the way that we've designed moodle net isn't exactly for your use case In terms of what's next for moodle net. Well, we have some priorities Our priorities around community sustainability making sure that it's localized Making sure that moodle net really flexible for different situations And also making sure that it's private where it needs to be in terms of The the kind of technology adoption curve where at this stage of of early adoption here So the people who come along to eat webinars like this are the kind of people who would set up their own instance Who would be tinkering with moodle net and joining us in our federation testing which is starting very soon So the next few weeks we'll be launching federation testing We're just finishing off some work to to get that started then we'll be starting user testing on moodle hq run instances LMS integration is on the slate for moodle 3.9. And then we'll have a version 1.0 release and hopefully in may After that there's a load of things we want to do we're very ambitious We want to make sure that we've got all of the things that you'd expect from a social network And also go further to be very focused on social networks for educators Because obviously educators have to reappropriate what's big tech use them. Um, just give them quite often So I'd like to say it's opportunity to thank my team. Uh, there's myself mail Alessandro, Karen, James in a van all based in different parts of europe as a remote team Um, I'd also like to thank all this slide has gone crazy But um antinus and catarina. Um, there's a moodle partner called umena who have been supporting us with some development time And also martin that that has gone very strange But um martin's Who you know sunday who's head of the lms team? Carlo from a data protection point of view tasks us from umena and of course the moodle users association Which you should all join if you haven't already And then just lots and lots of people who have been involved in idea ideation testing Giving ideas everything like that. So if you're interested in moodle net, you can email me dug Do u g at moodle dot com or you can email moodle moodle net moderators at moodle dot com Which will go to me and to mail you might be able to answer your technical questions So i'm going to leave it there and hopefully i'll fit into the 12 minutes, which dana has allocated. Cheers Thank you very much dog. That was perfect And I think you just answer some of the questions which people had in their mind in the recent years Because I kept hearing quite a lot how we can exchange easier information and resources Among the gas because we all have all of these o.r repositories, but They're quite difficult to use and especially to transfer How to say fields and documents and metadata also between our platforms So thank you for this and I really hope we will be able to join it soon So I have one more question for you until we will have The slides for the next presenter getting ready My question is basically that what do you see is the largest the also say the the challenging Let's make it again challenging problem for moodle net to really catch up To really become known and don't say again like marketing marketing problems No, the biggest problem around any federated social network is understanding what federation means And the fact that you can own your own data But also connect it with other people as well because we're so used to either a centralized platform like twitter and facebook Or private spaces and so federation is somewhere in between where you own your own data But you also connect to other people and that's why I use email as an example So that's the way that we've designed moodle net I would say is to try and make it so that you don't really have to Understand on a technical basis how federation works You just get all of the advantages of that By being able to join communities and other instances and being able to search for resources across the entire network So we really have to try we have tried to minimize the the amount of technical knowledge you need to know But I guess that as ever is always going to be the the main barrier. Thank you very much And now we are getting ready for this right talk before we start I'm I really hopes right and so that I've managed to say your name Better than in the last year I'm trying to learn as much as I can And who is in fact going to present about h5p which I need to say is the tool which I really love I was looking so much To have a tool like this in the last year We are an engineering and technical university and we love to be able to have some interactions or some drawings Or questions or chat or anything on top of videos To to make them more challenging. They're more resourceful for our students He is used to be known Falcon, but I think he will still will still catch with mind toll if we can and He is a huge advocate of OS and he's been working for his entire life in fact in open source Software so it's vital the floor is yours Thanks a lot and either everyone I'm very pleased to Be able to talk to you guys and thanks a lot for the introduction Diana. I'm I'm glad you like h5p This presentation is slightly different than planned. I was I usually present with h5p h5p has its own presentation tool, but I can't share my screen here. So I have to use power points Um, but we'll be okay. So I'll give you a quick intro to h4p and and talk a little bit about our next steps so h4p our main goal Is to change the world of interactive content a little bit We see it as still quite medieval And the reason for that is a lot of the content is being created from scratch every time so Whenever you create for instance a resource about the kovid-19 virus A democracy or whatever it might maybe there are probably other people working on the same and for many things there are Tons of resources already available online So what h4p aim to do is make Make it super simple to find those resources that are available in the world and Instead of creating a new one from scratch you can either use an existing one as is or you can Take an existing one Translate it improve it make it yours and then use that for your student and you may also Choose to share your resources with the rest of the world When you listen to dogs presentation, they are doing some of the same things And we are exploring good ways of Of working with moodle also on that part of moodle. So with moodle, the focus is a lot on social Social media social interaction communities h4p. We are a plug-in. So we plug into different publishing systems We are an altering tool And we make the system able to produce better content. So for us the repository Is not a part of a social media system. It's part of our altering tool So, yeah, that's a bit about h4p make it super easy to reuse interactive content How do we do this? So h4p is open source, of course It has to be Not only to make it free, maybe the least important property Ideally we would like to Have over those with less resources. They shouldn't contribute to us at all And we wish that we could kind of tax the rich organizations and people using h4p So that we also have the energy to to move the project forward as fast as possible But we are open source because it's safe So as long as people are happy with us they'll continue using us and If they stop being happy they they can still use us until they find a better Better system. So it's very safe for people to use us. What happened to flash wouldn't have happened if it had been real open source apple could have just Changed it the way they needed it to be changed and then they could kept using it on iPads and iPhones So being open source If you put all your content into an open source solution It's a very very safe place to have your content And it also fosters collaboration. It allows you to customize All parts of the tool and the content And we are a plugin so we're not our own site. We don't need to We don't need marketing We don't need to try to make people go to a special website to use our tool They can just plug us in wherever they are. So if you're using mood or canvas or blackboard WordPress or Drupal There are now coming h4p plugins to almost every system there is So so we can spread super fast. We don't have to We can just plug into whatever people are already using makes us spread very quickly And obviously quality so In the old days at least open source initiatives had a tendency to Be very programmer focused and driven and not so much user experience at the h4p. We have always had A lot of emphasis on the user experience on making sure that everything is user tested Trying to make things super intuitive pleasant and thrilling to use So those three three things are what We focus on to spread the h4p as a standard So we should you use h4p? Well, we We focus on Making that the adoption curve the learning curve as easy as possible So a teacher can easily just start using h4p without much training There are no locking they're not locked into Moodle or canvas or Drupal or whatever you're using if you switch your publishing system You can just move your content over and it will work the same way and you can continue editing the same way And it's plug-and-play super easy In terms of traction we've seen tremendous growth since we started we've been tripling the amount of users every year um This graph stops on 2019 in 2020. We were Integrated in the core of moodle, which means that every moodle site in the world has h4p So obviously if we continue this graph 2020 it would be Growing even more the community is super global. So we have lots of use in the americas And south america is just as big as north america here. So very popular in the americas europe In australia also, australia doesn't have that much population. So it's only six percent, but More than half the universities in in australia use h4p And we've started to grow in asia because of languages there. We are a little bit behind But It's it's coming india for instance every state in india uses h4p now in some of the biggest learning environments there So we now have huge adoptions. We have cons of People millions of authors hundreds of thousands of websites with h4p access. So what's the next step? The next step for us is to bring all this together So right now we see thousands of times every day that people are Moving content between different systems. You have universities on blackboard Collaborating with universities on moodle and they're sending h4p is backing forward to altering a little bit here a little bit there It's nice to see but we want to make that a whole lot smoother So right now you need to kind of know where to find the resources you want to use We'll be connecting all our hundreds and thousands of websites And connect them through something called h4p hub And it will allow Our users to easily share their work with the entire world And also obviously search Search a global repository of content to see what exists already So if you want to create an interactive video you can go in go From your own altering tools. You can just start typing and we'll be searching our hub to see if we have a video About what you are about to create And potentially save you tens of hours of work if it already exists If you Start creating an interactive video and you want to add a multiple choice task Within the video you can do the same So you can go from within interactive video and start searching for Things to add to the video so you can find entire resources and you can also find partial resources From the hub and when you find things everything is integrated so So you don't have to think about copyright or anything because all that will be in place for you You just pick the resource and we make sure that All attribution and all that stuff is handled and eventually we'll also give you warnings if you for instance Pick a non-commercial image and put it into a video that is Is to be used commercially the system will warn you and tell you that no this this can't be done Because you have a non-commercial image so We've been spending all these years until now to build an authoring tool with huge adoption And what we'll do next is bring them all together and create a global collaboration system for interactive content so that The contents repository is part of your authoring tool. So we're very very excited about that. We're working on it and Very much look forward to launching it Yeah, so summed up Big problem we're solving that you're creating from scratch every time we want to help people Make the default not creating from scratch but creating from something so that will have both more efficient creation And we'll see better content through that We've been establishing a new standard for interactive content Come a long way in that Yeah So so we're very very excited for the future where we think We'll be seeing a lot better content online. Thanks to Thanks to our new global collaboration platform If any of you want to learn more about hvp, you can go register on hvp.org and try out the authoring tool there And we'll also guide you there to how you can start using it professionally. Thanks a lot for your time Very interesting. I'm very good. I need to say that I like it and I use it a lot and we use it as a university for creating interactive examples of videos, which for example, we film during the lab Any equipment and then we add Explanations and information and even graphs and links on it. So we really like Maybe an idea for Reinter, Martin and Doug Why you don't put h5p more at the core of MoodleNet So in fact to create the community of h5p together with the MoodleNet community Because that will be well Yeah, so well, um spinoff and I have already met in Barcelona to to talk about this I guess as soon as we've done the hard work of getting MoodleNet out there And something that people can use and we'll follow up those discussions, but definitely something I look forward to exploring how that can can be done. It should be It should be very strategically aligned. There shouldn't be anything stopping us from doing that Getting the social context around it and then h5p would bring very smooth ways Very good to be able to share Those as you said to create the youtube for open educational resources will be will be great And I think as videos are becoming so much the future and in fact, it is the present of Web it will be also of the education. We are moving so much from tax and just simple PDF files in education on online learning systems to videos and to interactive videos because Our students nowadays that's what they like and that's what they want. So we need somehow to adapt to the new student generation. Thank you very much Vain Torre. I really appreciate it. So let's See you soon. So now we are moving to Professor Alfredo Soeiro. He's coming from University of Pogto and he's a Eden fellow for the manual and he was also part of Eden executive committee for many years and he's going to show us some very interesting examples of how to use emerging technologies AR and VR in Indian engineering in fact, so Alfredo the floor is yours Thank you. Good morning. I mean the terrible spot to be in between you and lunch for most of you or for a piece for some but I'll try to to to be quick and in fact When talking is about the use of Open education technologies for something that We haven't been done very much in the past which is simulation. I think it's a great future of The education technology, especially the open ones What I'm going to talk is about a project where I participate which is The title is a little bit long, but it's construction safety education and training using immersive technology so it just started it has three months and We have a strong connection with the professional bodies in terms of education, but we don't have yet with people from In learning and open education. We hope that Even can participate as well as other members because I think that there is a great benefit for everyone if you use more education technology, especially on what we are doing, which is simulation. I think that's the probably one of the Big successes of the open education technologies in the future And let me show a little bit. What is the problem? How we are handling it? I'll be quick. So we have different target groups with different reasons But we go from the worker and the engineer to the construction owner and client. So there is a diversity of Target groups that were maybe interested in this simulation.  So What did we decide to do? We decided to use some techniques that are available I don't know if you know about it, but it's 3d or 4d or 5d or whatever representation of any type of building or construction that we are using it and it's Let's say very detail and has Most of the information needed to prevent accidents and we want to use Some gadgets that are useful for anyone including the workers on the construction site Not only to be aware of the risks, but also for training and for training we have used 3d glasses for instance goggles and immersive reality and Because partners are experienced some of them are experienced on One of these tools some are experienced in more than one But it is a very good group in terms of complementarity So this is an example uh, I was in London in the future build and you can see there a Simulation through come as a Nutility that it's a complete immersive environment, but we can have it also on the screen like I Show here and you can use it on a smartphone or tablet, but the idea in terms of What we're going to do is to combine the training with the digital tools And in terms of static approach, we have some scenarios We have gains for education and training and mostly we are betting To be honest on the simulation. We want to simulate the real environments before going there and Before being dangerous The methodology that we are using is We have the tasks. We have the risks associated and we want to visualize the environment Like I said with different types of participation, but We want to make The stakeholders learn and be trained By anyone and one simple gadgets not Very complicated and of course And the this is what we want to achieve We want this project to be a facilitator on the user simulation for training and education And it can be used on certification like exams for professional Certificates that they can use on the construction sites. It has to be adapted. I don't know if you know, but any Construction site is different from the previous ones and it's really very difficult to handle We want to have some standardized Training and we don't have much much money Just half a million euros and we want to use it properly And like I said, we want to use it on the site and on the training facilities, but I think the possibilities are immense. I think there is a lot of things to exploit for the people that are connected We've been learning And the new technologies to train and to educate Using these type of tools and that's it. Thank you very much Hello Is it okay? That was too quick. Thank you so much. You are always just on time and just put on So thanks a lot. That was very interesting. In fact, we are also running a lot of ar and vr especially vr examples recently with in engineering and especially also in civil engineering, but in We are running some examples on autonomous car cars We are trying to pass them with with vr using the some examples from some companies which are Doing some research in in Timishara in the west of the main region Thanks a lot. So that was really good. So I'm looking forward for some examples As we are a bit later than we said, uh, we will take some questions and discussions at the end I have some ideas already prepared for all the speakers Now it's my pleasure to welcome, uh, karnah holotescu. Professor karnah holotescu is a professor in computer science I'm the dean of computer science from another university from the same city where I am From Timishara in Romania And she used to be very famous for blogging and for tweeting But she's becoming quite well known for now recently in For her interest in blockchain and especially on using blockchain in education So another possibility may be for certification for badges and for the recognition in education So karnah the floor is yours Thank you. Hello, uh, everyone. Thank you diana for your presentation and thank you all for your wonderful speeches So now I propose you the topic of blockchain The studies show that blockchain is one of the most difficult to understand concepts But we'll see that very soon each of us will use this technology in our activities and in order to prove our knowledge and our credentials Uh, so, um, I will start with a very Brief introduction for this technology um, maybe Most of you are familiar with the blockchain starting with the its application of cryptocurrency but We should we should see that This application with the currency are Just an application of blockchain like email is for the internet. Let's say uh, so, um in 2009 this turn was coined by the still unknown Satoshi Nakamoto as the term for um The technology which was at the base of bitcoin bitcoin is the most well known uh, blockchain platform, but there are other hundreds of such platforms such as the ethereum or hyper ledger quorum Alastria or hedera hashtag Okay, blockchain Is the considered as one of the major technology of the party case And is a pillar of the force industrial revolution blockchain provides trust in information without using third parties Thus facilitating peer-to-peer transaction platforms uh, which leads to the creation of new businesses And we represent an ongoing source of innovation and economic growth We can see here the advantages of this technology and also, uh A large variety of fields in which this technology is applied It has the potential to disrupt a lot of domains One of them being education In europe blockchain is considered to be a strategy technology If you'll follow the link i put on this slide on Europa das EU You can find a lot of information about the project the funding in this this field In this field the the project Uh, I would like to mention the fact that Two years ago in March 2018 The EU blockchain observatory and phone was launched um It consists of two groups one is for use cases In this domain and one is for policies It's a very Active organization The group will end their activity at the end of this month in brasil And the new representative from the countries of EU will be chosen To be part of the new observatory for the next years Also, I have to mention the fact that 29 countries signed The partnership for european blockchain And we'll see that this partnership has Very interesting projects concerning all the citizens of EU I will code here some ideas of The european parliament resolution about the blockchain in education Ideas from two years ago We see here that There were threats the potential of blockchain for verification of academic qualifications also The lack of knowledge about the potential of this technology the need to Adapt the curricula of universities and of educational inclusion For this technology um Now, um I would like to draw your attention on this very important project of The partnership for blockchain It's about the infrastructure for blockchain european blockchain services infrastructure if the A project of this partnership started one year ago So we'll have at the level of the european union touch on infrastructure Based on different blockchain platforms last month This partnership has chosen for use cases To be deployed to be implemented On this infrastructure It's about the notarization of documents validation of diplomas european self sovereign identity And the trusted data sharing So it's very important for us that very soon All the diplomas all the certificate The credentials will be stored on blockchain Everyone will be able to prove their skills and knowledge for other Educational institutions for employers employers This in a cross border setting If you'll go on the link which is for this project on europe.eu You will find the possibility to test already This for use cases and the next one Other use cases will be chosen and will be implemented By the countries in the partnership on this infrastructure Also, I want to mention that The countries will Run their notes on this infrastructure already Seven of the countries Have Functional notes on this Okay So this is um a european application for blockchain in education If you want to Learn more Please go and browse the report eight reports Which were published by EU blockchain observatory on their site Also, it's a very interesting report called blockchain now and tomorrow A study about blockchain in education by the alex dress and Anthony Camilleri and very I think two months ago on the knowledge area of Observatory Was published another study related to blockchain and education Also, I think two weeks ago It was published a study of the digital Credentials consortium And also there is a group For digital credentials at the level of worldwide web consortium now There are a lot a lot of other applications of blockchain in education I quote The most significant on this slide you can see that Besides the digital credential There are applications for intellectual property management for funding tracking for student payment And also we can see pedagogical enhancement using this technology as pioneers for Using blockchain in education There are University of Nicosia Which started in 2014 the first master in blockchain The first course the first MOOC is free for everyone They use the the model platform for delivering this master Study this master program Also students Who take part in this program? receive Credentials on blockchain and also they can pay their tuition using cryptocurrency Open University from UK Has also a very active group in blockchain They have a lot of studies and projects Some of them are related to reputation networks. They have Very important project now, which is run with other institutions. So it is called Polychain Related to digital credentials And the third pioneer University is the meat from the United States They have the well-known project Which is open source for digital credentials Which is called Blockchart And now blockchart is run by a spin-off of this institution by machine Which is interesting is the fact that Most of the blockchain Applications and projects are open source. So we can learn from them. We can test we can pilot them I would like also to mention the fact that Which is called the blockchain island is the first nation state to deploy blockchain technology in education issuing Digital credentials for all the levels of education There are many Universities in which the payments by the students can be made in currencies Also, there are projects in order to issue credentials for informal learning or for learning in moves Then it's a family of applications Related to decentralized universities and learning communities and I Coated here The name of a few and They're linked What is interesting is the fact then On blockchain it is recorder the learning Journey of all the participants These applications come with a reward system to simulate user participation So participants receive tokens for their activities such as creating materials completing the courses coaching duration evaluation peer mentoring and so on Uh, the participants can use tokens in order to pay for other educational services and this way A global ecosystem of teachers and learners and also employers Is created Blockchain is listed as one of the most Wanted skill for the job Linked Show that blockchain is The job the most popular More popular than cloud computing or artificial intelligence There are a lot of career specializations for blockchain Not only developers or analysts, but also You have to know things like do machine learning to law in order to apply This technology and to obtain the potential the potential it can Bring okay Let's see now How universities adapt their curricula to this technology um A report was published by a coinbase a few months ago that shows that In the world for the top 50 Universities A number of I don't see the number there 56 i think of percentage of them over Courses related to crypto and the blockchain up from 42 in 2018 what interesting is the fact that 70 percentage of classes are in the department outside of computer science Including low health humanities economic and so on So it's the need for skills in this domain Universities try to adapt their curricula and also there are a lot of MOOCs A lot of Free courses in which all of us can learn about blockchain and I quoted here a few MOOCs Some are Delivered by universities some by Student organizations some of companies And you can find more if you start from the directories for MOOCs such as Class Central or MOOCs Now at the end just a few words about My activity and the activity of My collaborators related to blockchain At my university we opened a center for open education and blockchain five years ago It was the first course for blockchain programming which I started Three years ago And also I designed the first this term for digital certificate on blockchain on the ethereum platform Two years ago We are We are working now in different projects for MOOCs, organization for mobility for citizen science and what I find to be Very useful and very important is the fact that We can teach Blockchain to our students if we learn blockchain so We have a plethora of MOOCs for learning Blockchain we we have a lot of of learning communities and communities of practice Which whom to share and to discuss and to find the common project And the best way to learn blockchain is to use blockchain to test different projects and to use The platforms which have infrastructure on blockchain And I would like to end by inviting you If your interest is in this domain To write for the special issue related to blockchain and open education Which will be published by the well-known Journal called the future Internet So this was my presentation and of course I'd like to know Your feedback your questions Thank you Just think I'm very up to date. In fact, there were a lot of comments in the chat about the blockchain technology and I am there with some of them which says that Blockchain technology uses a lot of energy and With This all of these issues which are going around us The weather at least in Europe was very funny this this winter We need to look also into that Do you have an answer if that would be a possibility for not the adoption of blockchain at least not in education factors? Not to adapt blockchain because of the climate impact Uh, okay, so, um Platforms the platforms of blockchain use different algorithms for conferences Uh, the energy is needed for the algorithm, which is called the proof of work But there are many other algorithms Which don't require Such energy the energy the resources are very low You can have all the platform on your computer all the nodes so Bitcoin and ethereum Use such high energy, but the other technology is so There is the proof of stake, which doesn't work and ethereum Just started to use this consensus algorithm So this is not so this is not a real problem Sure, that's very good. Thank you so much karmann. That was really interesting Now we'll have about five minutes Five to seven minutes of comment and I really would like to invite martin back if he can because uh, I think it's Again, what I really don't quite mention in the last Message About the european education area, which is quite big at least in europe Sorry for the others, which are not part of the european union european Union has put a lot of stress recently on defining initiatives As to build up a better education for all the europeans And especially for higher education the higher education But also for the early charge for dedication there are a lot of challenges defined and probably technology and especially open technology should have Say on this martin well, yes I'll stop there. I mean, yes, uh, so, uh, I Some of the reasons I get I think open technology in general is the stuff that works you look at All of the dot-coms out there. They're completely reliant on linux You know amazon web services is all linux. It's all open source software Look at the web itself the Apache web servers that run things the the standards like http This is what's made all this technology. You know, all these phones are based on unix And um It just works so it's proven that it works and to think otherwise that oh, no now there's a better way I just doesn't make sense to me and a lot of these initiatives that I see That uh, say we have the solution. It's running at this dot org or this dot com It reduces trust. You don't have the trust that that dot com or dot org can go away Open edu chain.io isn't there right now and like it's uh It's just a common issue on the internet. So we have to try and build things. So they are distributed I and I I like uh, some of this blockchain talk about distributed ledges is good for some things But I feel like it's it's like one tool from a toolbox that's being applied to everything And um, it's a bit of a there's a bit of hype around it as well So it it makes sense to look carefully at are we using the advantages of blockchain correctly? Rather than just trying to add it to everything because I I just see so many blockchain companies and products already disappeared Because they didn't mean anything so, uh, yeah Um, I really agree with you in a way. Yes. You are completely right. And I think the ledger technology is quite hammer future I think there will influence the education. Uh, maybe I'm jumping a bit out of things here like Fintech technologies at least in europe there was like About five years ago. There were none existing everybody was laughing at the fintech technologies and nowadays Just the idea of revolute how popular it is at least in in europe and how many people are using it Is quite interesting. So we never know but I strongly believe that as we have for example moodle and other tools for Let's say Support of education. We should have a different system for certification and education And for diplomas because at least in europe that's becoming quite a challenge And it's becoming a big challenge also on the terms of How to say not taking it by validation and by sharing at least in the european Space where you can go Leave work and educate yourself freely in any country you want So, uh, I would like to have another question for right or if he can if he's available like I know that quite a lot of H5t tools have a lot of interactivity and I quite like the idea that You mentioned here that you are developing Some of them especially for the For the kaleidoscope if I remember right or for the virtual tool. So what's next on the pipeline? That is a secret So so we're having a big conference in may in madison wisconsin in the u.s We have been piling up. We have more than 10 new content types coming. We have huge new Features that will impact everything Coming and it will all be launched in in the madison in may. So come there and you'll see And in fact, if we are speaking about the invitation, let's invite everybody to go to uh, net We shared here the link and try to write. Obviously. We're all quite familiar with noodle I don't think we need more incentive of Going and joining model maybe to join the open at tech global community for quite a lot of us which are working with technology and today and Let's look at what h5t has next in line And from my position as even vice president I I will like to invite you to the next Webinars one is passing in half an hour from one I have also presentation there. So that's a bit of advertisement. Uh, if you allow me Then we have another one on tomorrow about the textbooks on open worlds. It's a very interesting finding when the information there and on pride about the micro learning and the quality of lifelong learning the digital aid But the biggest invitation which I would like to make is for the eden 2020 annual conference Which is happening in kineshwara in my city in The next In june, let's hope that the virus is not really hitting us and we will still be able to To join and to be able to meet in person Martin togeomas is one of the keynote speakers among The micro samson and Rebecca Wilson and we have two more news Two more speakers, which we are going to announce quite soon The deadline for submission is still open until the end of this month And the papers are going to be in back. So please educators Join us and it's also an open call for a phd symposium Which has proven recently to be very popular and very successful as it gets together students With mentors and we are trying to support from the next generation If you have anything else to say i'm inviting all the presenters. It's not Anybody else Marty you have the mic on so please yes Well, just a pleasure to be involved and talk to everyone. Thank you for inviting me And for those who don't know me. I know I sound Australian, but i'm half greek half german and we have an office in spain And I feel very european So I I think when I look at the world All of the all of the most interesting humanistic open Just the best thinking in this area is is happening in europe the most And it's kind of the center of this sort of open thinking. I love that. So thank you very much That's very nice for you to say you're welcome anytime in europe and we are so that's nice So thank you everybody from australia first to norway to portugal to great britain to rumania And also to participants from all the corners of the world. We've had participants from all the fourth continent So that's amazing and great. Thank you all for taking your time for this webinar And see you at the next event and please use technology responses Thank you. Bye


Welcome to Yankees baseball on my good friend John Sterling on Michael K. We started working together. Our first regular season game was April 7th of 1992. The final game we worked together November 4th of 2001 game seven of that unbelievable World Series. What a 10 year run we had. We'll go through it a lot during the game. But John what have you been doing in the 20 years since I last worked with you. Well basically I've been doing two things. I've been watching you on yes and and saying that's baseball Susan. Yes it is and we'll have a lot of it over the next nine innings and a lot of memories as well. We've been looking forward to it. We're pumped. We come back lineups first pitch baseball reunited at a feel so good on yes.


We have a long tradition of scientific collaboration within Europe, within the European continent. And in order to better achieve or ambitious goals for the future, scientific goals with rather increase or collaboration between all states within Europe, including of course the UK and Switzerland. And I sincerely hope that we'll be able to intensify scientific collaboration between EU member states and the UK and Switzerland and between UK and Switzerland and member states.


Hello, and welcome to this session. This is Professor Farhad. In this session, we would look at allocating income and losses among partners. This topic is covered in financial accounting as well as in advanced accounting. I do have it covered in advanced accounting as well in a more advanced fashion. This topic is also covered shortly on the CPA exam, the FAR section. As always, I would like to remind you to connect with me on LinkedIn if you haven't done so. YouTube is where you would need to subscribe. I have 1,700 plus accounting, auditing, finance, and Excel tutorial. If you like my lectures, please like them, share them, put them in playlists, subscribe to the channel. If it helps you, it means it might help others. So share the wealth, connect with me on Instagram. On my website, farhadlectures.com, you will find additional resources to supplement your CPA examination or your accounting courses. If you're looking to improve your performance on the CPA exam, please check out my website. I can help you earn those 10 to 15 extra points to get the CPA behind you. What we're gonna be looking at today is dividing partnership income or loss. So simply put, when a partnership makes a profit, so let's assume we are looking at a partnership that made a profit of $100,000. This is the revenues, and we're gonna assume expenses of 60,000. So the partnership made a profit of $40,000. What do we have to do at the end of the period? So we're gonna keep it simple. We're gonna split this profit 50-50. So 20,000 goes to one partner, and we have two partners, and 20,000 goes to the other partner. Now I hope you remember how to do the closing entries. If not, I'm gonna go over this real quick. Let me show you real quick the closing entries that you learned in earlier chapter because you will be needing those closing entries today. So in other words, if you don't know how the closing entries work, I'm gonna give you a quick tutorial using this example that I just used. So if you have revenues of 100,000, what you need to do, revenues is a credit balance of 100,000, and we have all sorts of expenses, and expenses, they do have a debit balance. So what we need to do first, we need to close revenues. So how do we close revenues? We are going to debit revenues, 100,000, to close it down to zero, and we're gonna, for revenues, we're gonna transfer this account to income summary. So we're gonna debit revenues, credit income summary, and what we did is we transferred the 100,000 to this account. Now we're gonna have to do the same thing with expenses. We're gonna, I'm gonna use a different color, we're gonna credit expenses of 60,000, make the expenses go down to zero, and move the 60,000 to income summary. Now what happened is we have 40,000 in income summary. Now from this income summary, this 40,000, this is the profit, remember we have $40,000 in profit. So the profit sits in income summary, then the profit will be distributed, in quote, distributed to each shareholder. So what's gonna happen, we have two partner, we have partner with the name Adam, and partner with the name, my name, Mansour. So we have two partners, and what's gonna happen is, we're gonna credit Adam's account, 20,000, we're gonna credit the capital account of my name Mansour, 20,000, and we're gonna debit income summary. So what we do is we debit income summary, 40,000, therefore income summary goes down to zero, and this is the entry to allocate the profit to 50% to Adam, and 50% to my account Mansour. So in this session, we're gonna be, they're gonna be giving you income summary. The reason I went through this is to kind of remind you how income summary work. This is how we get to income summary. Now also we close the withdrawal to the capital account, but we'll see that later. So simply put, partners are not employees.  So you cannot have salary expense to yourself. So you cannot report yourself as a salary expense because you are the owner. No salary expense is reported. Profit and losses of the partnership are divided among some agreed upon ratio. So here I assumed between Adam and Mansour 50-50. Now that's not the case. You could do it 50-50, or you could do it in any form such as any stated ratio. Like when I said 50-50, this is a stated ratio. The ratio could be 70-30. The ratio could be anything. Okay, 60-40, it has to add up to 100. So stated ratio is one of them. Capital balances, for example, if I contributed 50,000 and Adam contributed 10,000, well, guess what? What is our capital balances? The total is 60,000. I contributed five six and Adam contributed one six. So what we do is when we distribute the profit, five six goes to me and one six goes to Adam. This is based on the capital contribution. And the third allocation, we could use a combination of services, how much time you invest in the partnership, capital contribution, how much money you invested and some sort of a stated ratio, which is a combination. And we're gonna be looking at all three examples to illustrate this concept. Starting with stated ratio. It's pretty straightforward. In a partnership agreement, we have Zane is to receive two-third and Paraz is one-third of the partnership income and loss. If the partnership income is 60,000, what's gonna happen? Two-third, which is almost 66% and one-third goes to Zane. Simply put, two-third is 40,000 and one-third is 20,000. Therefore, we increase Zane's capital 40. We increase Paraz's capital 40 and we debit income summary. But you know where the income summary came from. Income summary came from revenues and expenses. Let's take a look at capital balances. Remember, another way to allocate the profit is based on their capital balances. Zane and Paraz agree to allocate their profit based on their beginning capital balances. So what's their beginning capital balances? Well, let's assume that this is the beginning capital balances. Zane contributed 30,000, Paraz contributed 10. So Zane 30, Paraz is 10. They add up to 40,000. Now we need to find the ratio. Three divided by four or 30,000 divided by 40,000 is 75%. What's gonna happen? Zane gets 75% of the profit and Paraz gets 25% of the profit. Therefore, we'll take 75 times 60. 45,000 is allocated to Zane and 15,000, which is 25% of 60 is allocated to Paraz. Why did we do so? Because they wanted to share the profit based on their beginning capital balances. How much you contributed? And remember, you look at the beginning of the period, beginning of the period capital balance. Because this is the beginning, and if I ask you, what is the ending balance of Zane? Well, Zane started with 30,000. Then Zane increased their balance by 45. Zane's balance now was 75. If I ask you, what is Zane's ending balance? And we'll do the same thing with Paraz. Started with 10, increased by 15. Their balance is 25,000. This is the ending balance. And this ending balance will be the beginning balance of next year. So next year, their capital ratio, if they did not make any withdrawals, because remember, if you make any withdrawal, you reduce your capital ratio, their beginning balance is any profit will make next year. Paraz will get 25% and Zane's get 75%. Why? Because 25,000 plus 75,000 equal to 100,000, 25 over 100 is 25 and 75 over 100 is 75. But that's for next year. The third contribution, we can use a combination of services, capital and stated ratio, something to that effect. So here's what they agreed upon. Zane to receive 36,000 annual salary. Remember, this is not a salary expense. Basically, this is what we call this a withdrawal or a guarantee payment. Paraz to receive 24,000. So this is what they agreed. So this is what they do. Maybe Zane's put more time into the partnership and they want to live, therefore they have to take 36,000. Paraz is putting less time, therefore we'll get 24,000. Anything remaining, I'm sorry, that anything remaining, each partner is allowed an annual interest of 10% of their beginning capital. Simply put, what they're saying is the money that you invested, we have to compensate you and we're gonna compensate you for 10% because you have some money invested. And anything that's left is allocated equally between the two partners. So let's take a look at an example to illustrate this concept. So let's see how we allocate this 70,000. Well, remember, the first thing we agreed upon is Zane gets 36,000 salary allowance, Paraz gets 24. So of the 70,000, we allocate 36 to Zane, 24 to Paraz, what's left of the 70,000 is 3,000. Then the second level is each one of them get 10% of their capital contribution. Zane contributed 30,000 of capital, that's 10%, and Paraz contributed 10,000 of capital, that's times 10%. And this is where we got these figures from 30,000 and 10,000. So 3,000 is allocated to Zane, 10,000, 1,000 allocated to Paraz. We subtract from the 10,000, we're left with six. Now anything remaining is allocated equally, equally means 50, 50, 3,000 and 3,000. So simply put, we allocate 42,000 to Zane, 28 to Paraz. Now the journal entry obviously is credit Zane's capital 42, credit Paraz's capital 32 and debit income summary. Now let's assume the income is only 50,000. What's gonna happen is this, we're gonna follow the same formula, but here we might have a negative balance. So how do we deal with this negative balance? First we allocate based on salaries, 36,000 to Zane or allowance and 24,000 to Paraz. That's gonna give us a remainder of 10,000. You don't stop, this is an allocation process. You have to keep on allocating until you follow all the formulas. Now remember, 10% of 30,000 is 3,000, 10% of 10,000 is 1,000. Now we have a deficit of 14,000. Now this deficit will be allocated equally to get root of the negative 14,000. So we're gonna allocate 7,000, negative 7,000 to Zane, negative 7,000 to Paraz. Now we net them out, Zane gets 32,000, Paraz gets 18 and together they equal to 50,000 of the net income that we wanted to allocate in the first place. Let's take a look at the what's called partnership financial statement. During 2016, Zane withdrew 20,000 of cash and Paraz withdrew 12,000. And let's assume we did the allocation based on the $70,000 net income. So now we're gonna prepare the complete financial picture of the partners. When they started the year, we did not have the partnership, therefore the beginning balance is a zero. Zane contributed 30,000, Paraz contributed 10,000. That's the beginning of their capital balances. Then we allocated the profit of 70,000 based on salary, interests and any remaining balance. And here's what we did earlier. So we allocated 42 to Zane and 28 to Paraz, notice total of 70. Then Zane withdrew 20,000. We're gonna deduct it from Zane's capital and Paraz withdrew 12,000. We're gonna deduct it from Paraz's capital. Now the ending balance for Zane is 52,000 and the ending balance for Paraz is 26. And the partnership has capital of 78,000 in total. So notice what we did here. We added the partners withdrawal. Now what is the entry for the partners withdrawal? Simply put, we're gonna credit cash. We're gonna credit cash for 20,000 for Zane. And we're gonna debit the withdrawal account. We're gonna have withdrawals for Zane and that's gonna be a debit of 20,000. So this is the entry. Now, so let's take a look at this example to illustrate this concept. Merkel and Putin began the partnership by investing 6,000 and 4,000 respectively. So simply put, Merkel invested 6,000, Putin invested 4,000, so this is the credit and the debit will be the cash, kind of if you're interested where the debit goes. The debit is to cash, but we're only looking at the capital account. During the first year, the partnership earned $80,000. Prepare calculation showing how the 80,000 is allocated to the partner under each of the following three separate plan for sharing income and losses. The partners fail to agree on a method to share income. Now what we are saying here is we have 80,000 of income summary. That's what we're saying. How are we gonna allocate this income summary? Now we have to be very careful here. There is a tax, there is a tax requirement or is a financial accounting. Now for taxes, I'm not gonna deal with taxes. If we fail to agree, then it's gonna go 50, 50. So simply put, this 80,000 will be allocated 50, 50 because they fail to agree or the investment asylum. Now for tax purposes, there's a new rule that it doesn't go with 50, 50, it's based on the capital contribution. But since this is not a tax course, we're gonna follow the financial account. And obviously 50, 50 will give 40,000 for each partner. So basically the allocation is equal, 50, 50, okay? So 40,000 to Merkel, 40,000 to Putin and Putin. And this is how we prepare the journal entry on December 31st, which is debit the income summary, 80,000 credit the each of the respective capital, 40,000 and 40,000. Let's take a look at it from a T account. So notice the income summary is debited goes down to zero. Now the Merkel account is 46,000 and Putin account is 44,000. So this is the first allocation since they fail to mention an agreement, okay? So now in the second scenario, the partners agree to share their income and loss in proportion of their initial investment. Remember, six plus four equal to 10. So we have 6,000 and 4,000, that's 10,000. Merkel will get 60%, Putin will get 40%. So we're gonna take the 80,000 multiplied by these ratios. Simply put, 80,000 multiplied by 60%, Merkel gets 48, 80,000 multiplied by 40%, 32,000. Again, 48 goes to Merkel, 32 to Putin and this is how we allocate them. We credit their capital account by the amount and we debit income summary for 80,000. Now what's the new balance? Notice the income summary goes down to zero. The new balance for Merkel is 54 and for Putin will allocate the income of 32, which will give it 36,000. Let's look at a third scenario where the partners agree to share the income by granting 38,000 per year annual allowance to Merkel, 13,000 allowance to Putin, 20% interest on their initial capital investment in any remaining balance is split 70 to 30. So starting with the 80,000, first we allocate the salary allowance 35 and 15, what we remain is 48. Now if the remain is negative, you keep on going. It doesn't matter because at the end, you'd allocate the negative against the positive but now it's still positive. Interest allowance, 6,000 times 20% to Merkel, that's 1,200. 4,000 times 20% is 804 Putin, that's $800 and 1,200. Again, what's left is you have to reduce this, you have these amounts reduce the remaining balance, which is now we'll remain the, now we have, we are down to 30,000 because now we allocated 50 and anything left, which is 30,000 is split 30 to 70. 70% of 30,000 is 21,000, 30% is 30% of 30,000 is nine and now we are left with nothing, we allocated everything, the remaining balance is zero of the income. Now we add up, we add up those and 57,200 goes to Merkel, 22,800 goes to Putin and here's the journal entry to allocate this income. Basically we credit their capital and we debit income summary because we need to close income summary. So income summary is closed, credit the capital balance. If you like this recording, please like it, share it, put it in playlist. I always I would like to remind you to visit my website for additional resources. If you're looking to supplement your accounting education or pass your CPA exam, you invest in your education once in your lifetime, make it properly, good luck, study hard, accounting is worth it and the next session would look admission and withdrawal of partners. Good luck and stay safe, especially during those coronavirus days.