Results for "expenses"

Accrued and Prepaid Expenses and Income

ETHICS VIDEO PRESENTATION opening AYEN - Good day, everyone! We are excited to introduce a new and innovative project that aims to expand robotics education beyond the walls of DYCI. DANIEL - DYCI has long been recognized for its excellence in robotics, representing the Philippines in international competitions. AYEN - But what if we could do more? What if we could share our knowledge and expertise with students from other schools who are just as passionate about robotics? Rationale & Purpose of the Project STEPHEN - Robotics education in the Philippines remains limited, with many schools lacking the proper training, equipment, and mentorship needed to develop students’ skills. AYEN - Our proposal is to establish the DYCI Robotics Club for External Students, allowing students from other schools to join and train under DYCI’s robotics program. SJ - This initiative benefits both the students and DYCI. By opening our doors to external students, we provide them with access to high-quality robotics training, while DYCI strengthens its robotics legacy by nurturing a wider pool of talented individuals. SJ - This is not just about training it’s about building a community of future innovators and ensuring that more students, regardless of their school, have the opportunity to develop their skills in robotics. Target Beneficiaries DANIEL - Now, who will benefit from this program?” MIKA - First, the students from other schools. Many students are eager to learn robotics, but their schools may not have robotics programs. Through this club, they will receive expert training, access to advanced equipment, and even opportunities to compete in robotics competitions. RYZA - Second, DYCI itself. By training more students, DYCI builds a stronger robotics network, discovers new talents, and further establishes itself as a leading institution for robotics education in the country. This also opens doors for partnerships, sponsorships, and greater recognition. Expected Outcomes MIKA - With the implementation of this project, we expect several positive results. RYZA - First, students from other schools will develop strong robotics and programming skills, giving them an advantage in their academic and career paths. CEDRICK - Second, DYCI will have a wider pool of trained students, which could lead to stronger robotics teams for future competitions. RAVEN - Third, this initiative promotes collaboration and knowledge-sharing, allowing students to work together regardless of their school, fostering innovation and teamwork. KATHLEEN- And finally, this project strengthens STEM education in the Philippines, inspiring more young minds to pursue careers in science, technology, engineering, and mathematics. Feasibility & Sustainability of the Project TASHA - Now, is this project feasible and sustainable?” MJ - Yes! DYCI already has the necessary robotics facilities, experienced mentors, and competition-tested training programs. We don’t need to build from scratch, we just need to extend our training to external students. CORINE - To ensure sustainability, the club will operate under a self-sustaining financial model. Students from other schools will pay a reasonable training fee, which will be used to maintain and upgrade robotics equipment, fund competition expenses, and support club operations. STEPHEN - We aim to keep the fee affordable and competitive compared to private robotics workshops or academies. Additionally, we can offer different payment options, such as installment plans, to make the program more accessible. TASHA - To further encourage students to join, we will offer a trial or introductory session where they can experience the program before fully committing. This way, they can see the benefits firsthand, increasing their willingness to participate. KATHLEEN - We will also explore scholarships, sponsorships, and installment payment plans to make the program accessible to more students. RAVEN - Additionally, senior members will take on mentorship roles, ensuring continuous learning and knowledge transfer. Closing CORINE - With this project, we are not just creating a robotics club we are building a future where more students have access to world-class robotics training, regardless of their school. CEDRICK- This is an opportunity to shape the next generation of Filipino innovators. MJ - Together, we can expand the reach of robotics education and strengthen DYCI’s role as a leader in STEM. Let’s make this vision a reality!

dépenses et emplacements (expenses and locations)

Classification of expenses in an Income Statement

Asset, Liabilities, StockHolders' Equity, Revenue, Expenses

Sett i gang 2, Ch. 24: Expenses and Consumer Goods

Here’s a concise **reviewer** based on the exact words from the slides: --- ### **Accounting Equation** - **Assets = Liabilities + Equity** - **Equity Components:** - Capital (original investment, additional investment) - Drawing - Income (+) - Expenses (-) --- ### **Income and Expenses** - **Income:** - Service Income - Sales - **Expenses:** - Salary Expense - Utility Expenses (water, electricity, internet) - Advertising Expense - Office Supplies Expense --- ### **Liabilities** - Accounts Payable (verbal) - Notes Payable (promissory note) - Unearned Income --- ### **Assets** - Delivery Truck - Furniture and Fixture - Land - Building - Cash - Accounts Receivable (verbal) - Notes Receivable (promissory note) - Office Supplies - Prepaid Expenses - Inventory - Office Equipment / Computer Equipment --- ### **Accounting Elements** 1. Assets 2. Liabilities 3. Equity 4. Income 5. Expenses --- ### **Accounting Information Systems (AIS)** - Refers to the *computer-based method* used by companies to *collect, store, and process accounting and financial data*. - Internal users use AIS to report information to stakeholders (creditors, investors, tax authorities, etc.). --- ### **Characteristics of Accounting Information** 1. **Completeness** – No essential information should be missing. 2. **Summarization** – Information should be aggregated based on user needs. - Low-level management >> highly detailed information. - Higher-level management >> less detailed or highly summarized. 3. **Relevance** – The *contents of a report* must serve a purpose. 4. **Timeliness** – The *age of information* is critical; it must be no older than the time of the action it supports. 5. **Accuracy** – Information must be *free from material errors*. --- ### **Accounting Information** 1. **Financial Position** (Balance Sheet) 2. **Results of Operations** (Income Statement) 3. **Cash Flows** --- ### **Users of Financial Statements** 1. **Internal Users:** - Management - Employees 2. **External Users:** - Investors - Creditors - Suppliers - Government --- ### **What is Accounting?** - Accounting is a service activity. Its function is to provide **quantitative information**, primarily financial in nature, about economic entitis. This information is intended to be useful in making economic decisions and reasoned choices among alternative courses of action. --- This reviewer is structured for quick reference and easy memorization, using the exact words from the slides

Chapter 10 - Business Expenses

(7)Liability for Funeral Expenses

Assets, Liabilities, equity, revenue, and expenses

Ch. 6 - Liability for funeral expenses

Chapter 5: Investment Income and Expenses

Chapter 27 Medical Expenses

PRINCIPLES OF BUSINESS SECTION 8 OBJECTIVE 4 1 | P a g e Describe the relationship between financial institutions and regulatory bodies (a) The regulatory role of the Central Bank (i) Changing the liquid assets ratio Commercial banks are required by bank regulations to hold a certain percentage (the liquid assets ratio) of their highly liquid financial assets in the central bank. Highly liquid assets are those that can be converted to cash at short notice, for example cash reserves and gilt-edged securities (government bonds). This is necessary to ensure that the commercial banks can meet all their anticipated expenses (meeting demands from their creditors- customer) and fund loans. But it is also a way of the central bank influencing economic activity. If the central bank implements a rise in the liquid assets ratio this has the effect of increasing the amount the banks must deposit with them, which reduces the amount of money in circulation and restrict borrowing, (ii) Varying or adjusting the bank rate The bank rate (also referred to as the minimum lending rate) is the interest rate at which a national’s central bank lends money to commercial banks, often in the form of very short-term loans. Managing the bank rate is one of the ways that central banks influence economic activity. Lowering bank rates can help to expand economic activity and higher bank rates help to reduce economic activity when inflation is higher than felt to be desirable. The commercial banks set the rate they charge for lending to slightly higher than the minimum lending rate. Consequently, the raising or lowering of the bank rate by the central bank has an influence not only on the banking system, but also on those who borrow from the system. For example, the return on savings will be lower with a reduced rate, while the cost of borrowing will rise if the bank rate is raised. (iii) Changing the minimum reserve requirements All banks are required to hold minimum reserves with the central bank to ensure they always have sufficient funds to meet significant withdrawals. The central bank demands minimum reserves are held before it will allow banks to draw on them. Increasing of the reserve ratio by the central bank means that the lending financial institutions have less money available to lend out, resulting in a reduction in the money supply. An increase in the amount of money in the economy results in increased spending. A decrease has the opposite effect. (b) The regulatory role of the financial services commission The Financial Services Commission (FSC) has the responsibility of ensuring those involved in the provision of financial services comply with the related Acts that aim to protect investors. Although these laws may be slightly different from one country to another, they will all follow a similar format to the following: 1. The Financial Services Commission Act and regulations which outlines responsibilities of the FSC as they pertain to all prescribed financial institutions.2. The Insurance Act and regulations which prescribe provisions for the regulation of insurance businesses 3. The Securities Act and regulations which provide requirements for the licensing, operation and supervision of entities dealing in securities 4. The Pensions (Superannuation Funds and Retirement Schemes) Act and regulations which provide requirements for the licensing, operation and supervision of private pension funds. 5. The Unit Trust Act and regulations which provide requirements for the licensing, operation and supervision of unit trust schemes. (c) The regulatory role of the Supervisor of Insurance The Supervisor of Insurance has the responsibility of ensuring that those in the insurance industry, such as insurance companies, underwriters and intermediaries (for example, insurance agents, insurance brokers and financial advisers) comply with all legislation that applies to insurance. This responsibility encompasses: ▪ Licensing companies and insurance intermediaries ▪ Ensuring payment of annual fees ▪ Monitoring insurance companies and the statutory funds they are required to hold ▪ Ensuring all licensed insurance entities comply with the requirements of the Insurance Act and all related regulations.

Auditing Prepaid Expenses and Intangible Assets

INCOME STATEMENT: (EXPENSES)

Finance - Module 3 - Expenses

Lec 3 - accrual concept: recognition of expenses and revenue

Classification of Business Expenses

Income & Expenses Python (Pandas, Numpy, and Matplotlib)