It's a new concept which has already abhorred. few of clay pieces in it are missing. We would probably do this as a west-class clay art. Please take a look from this corner. There we are now. If you enjoyed our video like, share and subscribe to our channel Don't forget to keep an eye on it.


Hi, I'm Zor. Welcome to a new Zor education. The previous lecture was dedicated to ideal rocket equation or formula of Tsilkovsky. Basically, it's a very simple equation which combines together the increment of the speed of the rocket and the ratio of the mass of the rocket before with the propellant and after certain amount of time when the propellant is exhausted. Now, today I would like to use this formula to make a couple of very very simple calculations. Now, this lecture is part of the course Physics for Teens presented on Unisor.com. I suggest you to watch this lecture from the website because there are other lectures. First of all, there is a course of mass for Teens which is prerequisite for this course, especially as far as vectors and calculus is concerned. Secondly, the course is presented in some logical sequence. So I would definitely recommend you to basically start from the beginning and go with the way how the course actually goes.  Plus, every lecture has very detailed notes. There are even some exams for those people who would like to challenge themselves and well, the site is free and it has no advertisement, so no financial strings attached at all. You don't even have to register. I mean, if you do, it's good. All right, so the calculations we would like to make today are related to basically launching the rocket. In space. So we will be calculating what actually is necessary and let me tell you, I was surprised myself with the results of this. Basically, how much fuel, how much propellant you need to launch the rocket. So let's use this Tsilkovsky's formula, the formula which is basically the ideal rocket equation. So let me just specify it again and we will discuss it a little bit. So that's how it looks. Now, delta V is an increment in the speed of the rocket in some inertial system of coordinates, some inertial reference frame. Let's say it's related to stars. Doesn't really matter. And we can always assume that the rocket goes along the positive direction of the x-axis. Now, to basically make this particular motion, it's supposed to exhaust certain propellant. So the very important characteristic of the rocket movement versus something which we have started before is that rocket is losing its mass as it moves forward. I mean if it wants to accelerate, of course. I mean if it works, I mean if it moves with certain speed, constant speed along certain trajectory, basically it moves without any loss of mass, but if it wants to accelerate, it throws away the propellant and that's what makes it to go faster. Or if the rocket wants to slow down, it turns with its back towards the direction where it's moving and again throws propellant and that slows down. So if propellant is thrown in the opposite direction to the movement relative to the movement of the rocket, it accelerates. If it's in the same direction, we can assume it's positive basically because it all depends on us. So if it moves, if propellant is exhausted towards the same direction, the positive direction of the x-axis where the rocket is moving, then it decelerates. And that's actually meaning of this sine minuses. So delta V is increment of the speed of the rocket. Now V E is effective exhaust velocity. Now again, this is negative here, negative because in its vector form V E is directed either towards the negative direction of the x-axis, which means my delta V should be positive to accelerate, right? And to make it positive, I need this minus sign. If, however, V E is positive, which means it goes into the same direction as the rocket itself is moving, then this would be negative and this would be negative 2, which means my speed of the rocket is decreasing. It decelerates. And this is the logarithm of the ratio of the mass of the rocket in the beginning and at the end of a certain time period during which we are the rocket exhausts its fuel, its propellant, right?  Now, I was surprised of this ratio. Apparently, we need a lot of fuel, a lot of propellant to launch our rocket to an orbit. And that's exactly what we are going to calculate. Now, let's consider that we would like to launch our rocket on the orbit around the Earth. Now, in some other lecture which precedes this one, I think a couple of lectures before it, I have calculated that the speed which is necessary to circulate around the Earth somewhere were international space station right now, it's it's circulating. You need about 7.8 kilometers per second speed of the rocket. If it's less than that, it will fall down onto the Earth. The Earth's gravity will pull it. If it's this, then it will be on an orbit. So, it will fly away and then fall down exactly by the same distance to keep it on the same distance from the Earth. Okay, now, so we know this which means we know delta V because initial speed of the rocket is obviously zero. So, starting from the zero, we have to reach the speed 7.8 kilometers per second during certain amount of time. So, my question is what kind of, how much fuel do I need? Now, this is something which must be specified. Now, this is a relative to the rocket effective speed of the propellant. Now, contemporary engines, rocket engines, and I didn't know it, I just looked at Wikipedia or something, have a speed of exhaust about 4 kilometers per second. That's pretty fast, actually. So, when the fuel burns, it actually throws with this speed whatever the results of the burn is. So, this is your propellant. So, the propellant speed VE is this. Now, obviously, using these two factors, I can find this logarithm. Okay. So, VE, well, obviously, I should put minus and then this minus would be plus. So, it would be 7.8 is equal to 4 times logarithm of M in the beginning divided by M at the end. By the way, this is always greater than 1 because in the beginning, with the fuel, with the propellant, the rocket mass is greater than at the end when everything is exhausted. So, which means my logarithm of M in the beginning divided by M at the end is equal approximately 7.8 divided by 4, which is about 195. So, logarithm of this ratio is 195. Okay. So, the ratio itself equals e to the power of 1.95, which is approximately 7. So, here is very important ratio. The mass of the rocket in the beginning of the movement is 7 times greater than the mass at the end. So, which means that if I have a rocket where this is the useful part and this is my fuel and let's say useful part is about 1000 kilogram, 1 ton metric ton, all right, which is reasonable, 1 metric ton because you have equipment, you have the budget of the rocket itself. I mean, it's reasonable amount of weight or mass rather. Then this thing is supposed to be 6000 kilograms. So, for every ton you would like to launch on the orbit, you have to burn 6 tons metric tons of fuel. Now, that's what I was surprised with frankly. I didn't kind of feel that this is so big. Six times greater is the mass of the fuel than the mass of the rocket itself, the useful mass of the rocket. And that was my first problem, my first calculation rather. Now, my second calculation is related to trip a little bit further. So, instead of going around the Earth, where let's say International Space Station or all these satellites are rotating, I would like to go to let's say Mars, which means I have to go away from the gravity of the Earth. Now, we can very easily calculate how much speed I need for this, but in any case I just ask you to trust me that there are calculations which result in the speed necessary of 11.2 kilometers per second. So, as you see, we need more. It was 7.8 kilometers per second to get around the Earth in orbit, but if you would like to go away from Earth, you need more. And this is how much you need. Okay, now let's see how much fuel you need for this. That would be even more surprising, quite frankly. Well, let's again, let's just calculate. So, V, the effective speed of the fuel of the propellant is 4 kilometers per second. So, my logarithm of m from the beginning to the end is equal to 11.2 divided by 4, which is 2.8. So, the ratio of the mass is e to the point 2.8, which is what? Approximately 16. So, again, the same picture. This is the rocket. This is the useful part. Let's say this is 1,000 kilograms. Now, this should be 15,000 kilograms. So, you have to have 15 times more weight of the fuel relative to the useful weight of the rocket with all its equipment and maybe people, I don't know. But in any case, that's how much fuel you need. And that's a problem, obviously. I mean, it's not such an easy thing to have 15 tons of fuel to launch one ton of useful weight. Now, these are obviously very, I would say, teaching kind of calculations. The real calculations, the real rocket science is much more complex, obviously. Because, for instance, to launch the satellite on the orbit, if this is the Earth, you basically launch it like this. So, you have to calculate the speed a little bit more, a little bit more involved in detail conditions. But in any case, it's still something around the same calculations with obvious corrections on difference in, let's say, Earth's gravity on the Earth's level and the Earth's surface and on the orbit.  Whenever you're launching the real rocket, it's really a complex thing, very complex thing. I mean, besides the technical achievement, whatever it is, it's a lot just on calculation purposes. So, the calculations are involved. And by the way, when you're launching the rocket, you know, Earth is rotating by itself. So, it helps if you're launching the rocket in such a way that the rotation of the Earth helps you. Which means, since rotation is towards the East, it means that it's easier to launch the rocket towards East, because the Earth's rotation helps you move a little bit forward. And it's substantial speed as well. I think we did calculate the speed of the rotation. So, that's basically it. There are very simple two problems which we have solved using this rocket equation. But again, you really have to feel how difficult it is to deal with all these issues related to the launching because it requires a lot of fuel to launch anything significant on the orbit. And obviously, these were the first calculations scientists really were going through before they started to, you know, to complicate the picture with the rotation of the Earth and stuff like this. But anyway, this is the beginning, relatively simple, but with somewhat surprising results, I would say. Okay. Why don't you read the notes for this lecture? If you go to unizor.com, go to physics for teens. This is the mechanics part of the course. And then you have to go to dynamics. And it's one of the dynamics topics. That's it. Thank you very much and good luck.


There it is, and now we can lock the door, but wait, this is one of those ones that requires just a little bit more.  There it is, locked. Now let's say we were on the other side of the door. If we were on the other side of the door, I don't know how we would do this, but you go this way.  Security pins on this side. Should have closed while I was ahead. This is the first hint of a false set of how to do this thing. That's why, uh, so this is really interesting. I'm gonna fail at this one, so I managed to lock myself. Boy, that really wants to go, doesn't it? I can't say whether this is a false set or I've somehow done something wrong to the lock. That's a third time this has happened. Not clearly as capable of opening a little something. I think we may have a spool in our midst. Whoa, we'll drop the lock on the floor. There we go. This is extreme picking, gentlemen. The lock falls out of the door and you keep picking it, just on general principles. Okay, there's no door, but still. There we go. And then you do that three more times and you're back into your house. So anyway, it's a CESA.  Oh, there you go. Three by three, whatever the hell that is. Hold on to WAVA, the new something. So there you go, SPP at least four times. Anyway, Ms. Alex, thanks for watching. Have fun and please keep it legal. Cheers.


Hello, and welcome to this session in which we'll discuss the concept of partnership. What is the big idea of a partnership? Well, a partnership is an association formed by two or more individuals. Now when we say partnership, we always think of two people, but a partnership it has to be at least two people. Why did they form this association? Why do you form a partnership? Well, the purpose it's the meeting of minds and effort to carry a business, to carry on for a trade or a business, to make a profit and share that profit. As a partner, which we're going to talk about at the partners later on, you can contribute money to the partnership. In other words, you can give money to that business. You can contribute property and obviously you can contribute your labor and your skill. That's the most important usually in a partnership. But basically that's what happened. You want to start a business, you form a partnership. Now you got to keep in mind, you are going to be sharing at the end of the day the profit and loss of that partnership. So the loss and the profit, it will go to you as a partner. Now we're going to talk about the taxation in this session. In the next session, I will talk about how that profit and loss is a flow through flow through to you as a partner. Before we proceed any further, I have a public announcement about my company, farhatlectures.com. Farhat Accounting Lectures is a supplemental educational tool that's going to help you with your CPA exam preparation, as well as your accounting courses. My CPA material is aligned with your CPA review course, such as Becker, Roger, Wiley, Gleam, Miles. My accounting courses are aligned with your accounting courses, broken down by chapter and topics. My resources consist of lectures, multiple choice questions, true, false questions, as well as exercises. Go ahead, start your free trial today. Now, who can be a member in a partnership? Well, who can be a member? A member can include an individual, which is a person like you and I, a trust, an estate, a corporation, an association. Another partnership can be a partnership as well. What are the characteristics of a partnership? Well, it can be an unincorporated entity. Simply put, you could have a partnership without any formal paperwork. Just two individuals agree to conduct business together and you don't need anything. That's it. You have a partnership. However, a partnership cannot be classified as a corporation, trust or an estate, but those, they can be a member of the partnership. What type of partners do we have? Well, partnership entities are defined under state laws and usually we have two types of partners. We could have a general partner or general partners and limited partners. Now, I'm going to give you a real quick and overview about why do we have general partners? Why do we have limited partners? It gives you an idea about why they are called general, why they are called limited. We're going to look at this individual with a business idea. So this individual has a business idea and this individual has the money. So here's what's going to happen if you have a great idea for a business. Well, most likely, if you have a great idea, you don't want to share it with anyone. You want to go ahead, start your business and see if it works and make make a lot of money. But sometimes you have a great idea, but you need the money. You need the money to manufacture the product. You need the money to market. You need the money to expand your business. Whatever it is, you have an idea for a business, but it's not good enough. So what you do, you'll ask someone with money to give you the money. And this is usually how we form a partnership. Now, why do we call certain partners, general partners and the others limited? The general partners, think of them as the people with the idea. Those are the people that are going to manage the company, manage the business, participation and entity management. So if someone comes to me with an idea and I have the money, I may have no clue about what that business is about. But from an accounting perspective, the business makes a profit. It looks good. I'm going to make money. Therefore, I invest, but I don't know how to run the business myself. Therefore, the general partners are the people that run the business. And also because you're a general partner, you are responsible to repay the recourse debt. Now, you have to understand the general partner is on the hook. What does that mean? If it means if anything happens, if anything happens, they are responsible for the debt. Now, we have to understand that a recourse that what's a recourse that versus unrecourse that recourse that is type of a loan that is secured by a collateral that allowed the lender to go after the asset of the borrower of the default. It means this individual here with the idea of anything happened to that loan, they can go after you personally. They can go after you personally. So they're taking more risk. Why? Because they only brought the idea and they believe in their right in your idea. If you believe in your idea, you're going to be taking more risk. The limited partners, sometimes they are called the silent in a sense silent that they don't participate in management. They have limited to no participation in management. And if I was a limited partner, I will try not to participate in limited liability for partnership debt. So the maximum they can lose is what they invested in the company. Simply put, they limit their risk in terms of the partnership debt. They limit to what they contributed. So you cannot go after the limited partner personal asset, but you can go after the general partner personal asset because the general partner is the owner of the idea, the owner of the business really. And that's how we have to look at it. So it's very important to understand what is a limited partner versus a general partner. What are limited partners and general partners? Why? Because when we discuss types of partnership, that's what's going to really define the types of partnership. We could have a general partnership. We could have limited partnership. We could have limited liability company, a company LLC. We could have a limited liability partnership. So we're going to discuss each type of partnership separately, but knowing the type of partners would help facilitate that discussion starting with general partnership and a general partnership. You don't have any limited partners. So no limited partners are not no limited. You don't have any limited. So you might have two, three, four, five individuals and they are all general partners. What does that mean? They are all participating in the management of the partnership. Some common use for this type of partnership. It could be for anything, but it could be for operational activity like product manufacturing or sales, corporate joint venture, as well as any other business. It offers flexibility because the management shares among partners. So everyone is a managing partner in this partnership. Bear in mind, what's the risk of this is you are personally, personally liable for the partnership debt.  It's a popular choice for business and it's engaged in operating activities and collaborative ventures. But I don't like general partnership. I don't like partnership in general. Just it's a personal preference, but in a general partnership, everyone is responsible for everything, basically, management as well as that limited partnership is a little bit different and limit in limited partnership. You have to have at least you have to have at least one general partner. So you cannot have a limited partnership. So you can have, let's assume we have a partnership. OK, one of the one of the partners has to be a general partner, this this person in blue. So we have four individuals. You cannot have a limited partnership without having one general partner. If a general partner is gone, the limited partnership no longer exists. Why? Because you need this blue individual to be responsible for the debt of the company. So at least you need one general partner. Obviously, you would need at least one limited partner because it's called limited partnership. So in a limited partnership, you have at least one general partner, one limited partner. You have to have a general partner. It will not exist without it because you need someone to be responsible for the debt. Limited partnership. Again, as I mentioned earlier, when I when I spoke about partnership, it's utilized to secure capital for activities. Why would you have a limited partnership? Again, because you have a person with an idea. Which is the general partner and people with money. And this individual, they want the money. If they want the money, they're going to they're going to take the risk. They're going to take the risk. Therefore, you need them to exist in a partnership to take the risk. This could be a limited partnership. Are you are used in oil and gas exploration, research and development and financial product investment? This is, you know, typical businesses and limited partnership could involve many limited partners. So you could have many people that can contribute money. You could have 10 people and one general partner. So this general partner is really responsible for the business. The other people are just what are they? They are investors in a sense. They are investors. Now, to minimize the liability for this type of partnership, the general partners, there's a way around this, are frequently entities with limited liability, such as a C corporation or limited liability LLC, which we will discuss next. So what you will do. Yes, you will become a general partner, but what you do is you become C corporation and you will become a general partner in a limited partnership as a C Corp Y to limit your liability. Or you become an LLC limited liability company as a partner in a partnership. Now, this structure allowed for reduced exposure to the entity's liability while facilitating capital raising for various entities. And this is why you do this. You want to raise the money, but also you want to have limited liability and LLC, we just talked about this in a moment. LLC is a structure where the owners are called members. Just the technical terms. It's a hybrid role resembling both a limited partners and active participant. So in an LLC, it's a hybrid business. Members enjoy the limited liability for the company that similar to limited partners, but also they can participate in management. So in an LLC, if you remember, it's the both of both words. You can participate in management, but you have a limited liability. Limited liability. Again, it's how you structure it. So it provides the advantage of limited liability similar to a corporation. That's what it's called the company, which also benefit from the partnership taxation, which include the avoidance of double taxation. So from tax perspective, we will see next in the next session, it's treated as a partnership. So you can participate in management as at the same time, you have a limited liability like a part, like a shareholder and a corporation. Limited liability partnership. This is an LLP. Well, LLP is very similar to a general partnership where everyone is responsible for everything. That's fine. So what is difference between the LLP, limited liability partnership and a general partnership? Because it's like a general partnership. Here's the difference. The difference is an LLP, limited liability partnership. The partners themselves are shielded from personal liability for the malpractice of other partners. So think about a doctor's office. You could have a few doctors, four, five, six, seven. Here's what's gonna happen. Let's assume one doctor conducted a malpractice.  You could have five doctors in that office. Guess what? The other four, so if you have five and this individual committed, you know, a malpractice. They had, they prescribed the wrong medication. During the operation, they made a major mistake due to negligence. It doesn't matter. They committed some malpractice. The other partners are shielded from the malpractice. Listen to me carefully. Only from the malpractice of other partners. Now if the business fails, everyone is responsible for the debt from a business perspective. But if one individual committed malpractice, whether it's a law firm or an accounting firm and one person committed a mistake, the firm is sued, guess what? The other partners are protected. So each partner will have basically malpractice insurance and the suing party will go over that doctor or over that party, whatever that party is, doctor, lawyer, accountant, whatever. This makes LLP particularly popular among large accounting firms and various service providing entities like law, health. That's why you see when you go to the doctor or your lawyer, it's formed as an LLP to protect the innocent partners. The LLP provide a level of production for individual partners while maintaining the benefit and flexibility of a partnership. Now, you can have a partnership agreement. You don't have to, but you should. For example, a general partnership, you don't need to have an agreement. Although it's a good idea to always have an agreement. That's a contractual document that's signed by each member involved in a partnership. For what purpose? The agreement serves to outline the rights and responsibilities of the partners, including how we allocate the income, deduction and cash flows, specify the requirement for the initial contribution. How much money am I putting and what's my partnership? Condition if you want to terminate this partnership and addresses other important matters like if you want to include a new person or if you want to basically change the business. What do we do? And this agreement is crucial for providing essential information for tax preparation purposes. Sometime you have to go back to the partnership and determine how things are split between the different partners and include information about specially guaranteed payment and other tax relevant issues, such as contribution and distribution of capital because we want to see how we're gonna be taxing those transaction. So this is basically an introduction of partnership or introduction to partnership where we looked at the type of partners and the types of partnership. We did not dive into the taxation yet. In the next session, we will dive into the taxation. What should you do now? Well, the far hat lectures and look at additional resources, lectures, multiple choice, true, false. That's gonna help you do what? Learn this topic better, whether you are a CPA candidate an enrolled agent or an accounting student. Invest in yourself, good luck and stay safe.