It's all about Banks and Checks

Soo this is my third post, and it's all about bank reconciliation. What is bank reconciliation? Do you have a hint on what does it mean? Me, at first I don't even know what reconciliation is, as in a total "whaaaat?" So here it goes, Bank reconciliation is the process of bringing the bank's monthly report from each depositor showing deposits made, checks written, cancelled checks and service charges. It also tells us how to manage  checking accounts. Reconciliation statement putting an agreement the bank statement balance and the checkbook balance.

Gets? Okay here are more information about bank reconciliation.

The differences in the balance maybe due to:

1. Outstanding checks - checks issued by the depositors but have not yet been presented to the bank for payment.

2. Deposits in transit - deposits made but late to be included in the monthly bank statement. (because of the cut off period)

3. Service charges

4. Errors in check stub entries.

5. Cancelled checks - checks that have been paid by the bank.

Post-dated checks- are checks delivered now with a written date in the future, so that it cannot be cashed until that date. The danger to the recipient is that such a check is legally only a promissory note due at the later date, and if the account is closed or short when the check is presented at the bank, the payee has no rights to demand payment by the bank or claim that the delivery of a bad check was criminal.

This is an example of a bank reconciliation worksheet.  For example, this Bank Reconciliation Spreadsheet will help you keep your church and nonprofit accounting general ledger and bank statement reconciled.

and here is the bottom part of the worksheet.

Having a bank account especially when you're working is very important. Most of the people doesn't to put their money on banks, they just keep it in their homes. These people even cite that saving under a mattress is no different than having a bank account since interest rates are so terribly low.

Protection in banks are more secures because they have hundreds of guards. This protection is far better than hiding money at home and having it stolen, with no one to insure you'll get that money back. In fact, most money taken in home break-ins is never recovered. Let's put it this way, you hid your money somewhere in your room, but your maid cleaned every single space in your room and found your money, in her mind she would think and try to get those, or even get some of it and lie to you, but on the other hand, when you put your money in the bank, no one would get those but only you, you are the only one who can access to your account.

A checking account also is much more convenient for bill paying. Online banking makes this monthly nuisance even easier. Many merchants and online merchants require a bank account and a debit card if you have no credit card. Actually, with interest rates climbing on most credit cards, a simple debit card and checking account will cost you far less on each purchase plus over time.

Banking is easy and keeps your money in a better place :)

Checked by: Prof. Cris Paner

PROF. CRISENCIO M. PANER'S CURRICULUM VITAE

CRISENCIO M. PANER    

                                                                                                                                      

CP : 0915-1429675                                                             Email : panercris@gmail.com                                                                                                         

Glimpse of Crisencio Paner: http://www.youtube.com/watch?v=JmOWKyzryGk

EDUCATION

•        Ph.D. in Biological Science (candidate)

University of Santo Tomas, Graduate School

• M.S. Microbiology

University of Santo Tomas

      Thesis: “Chemical Control of Fungi Infesting Easel Oil Paintings at

                   University of Santo Tomas Museum of Arts and Sciences”

     

      Published in: Prime Journal of Microbiology Research

                            http://primejournal.org/PJMR/abstract/2012/may/Paner.htm

                                 http://primejournal.org/PJMR/cont/2012/may.htm

  

• Italian Scholarship Grant

Restoration and Conservation of Artworks Attacked by Biological Agents

Istituto Centrale Per Il Restauro, Rome, Italy (January 1-June 30, 2004)

• B.S. Biochemistry

University of Santo Tomas

• Professional Teaching Certification Program (Major in Biological Science)

Caloocan City Polytechnic College

PUBLICATIONS

 Book:

  Co-author in LET Reviewer in Biology, 2006-2010 eds. Published by MET Inc.

                          ISBN # 97193249-6-1, sold in National Bookstores                                                                                                                 

Articles:

• Understanding Museum Pests: The Molds. CFAD Atelier Journal, University of  Santo Tomas, Vol. 2 No. 1, 2003-2004, pp. 80-83
• On the Conservation of 20^th Century Color Photographs Attacked by Molds. CFAD Atelier Journal, UST., Vol. 2 No. 1, 2003-2004, pp. 106-113
• Witnessing the Glory of Italy in Its Art History and Ancient Spaces. CFAD Atelier Journal, UST, Vol. 3 No. 1, 2004-2005, pp. 55-72 
• _______________. Panorama Magazine, November 13, 2005, pp. 12, 13, & 21.
• Deterioration of Paintings and Painting Components Caused by Microorganisms. CFAD Atelier Journal, UST., Vol. 3 No. 1, 2004-2005, pp. 91-94
• Microbial Deterioration of Painting Materials. CFAD Atelier Journal, UST., Vol. 3 No. 1, 2004-2005, pp. 94-97.
• Conservation of Paintings Attacked by Molds. In College Freshman English Book II. Agalabia, U., Aranda, R., et. al., pp. 124-125, UST Publishing House, 2004
• Today’s Restoration Establishments.  CFAD Atelier Journal, UST., Vol. 4 & 5 No. 1, 2005-2006 & 2006-2007, pp. 95-99

RESEARCH WORK

·        Indoor Air Quality of Beato Angelico Building of the University of Santo Tomas -Commissioned by UST (Nov. 2009-May 2010)

BLOGS/ADS

1.    http://internet-moneymakingsecrets.blogspot.com (Money-Making Secrets)

2.    http://internet-moneymakingsecrets.weebly.com   (Internet Marketing Secrets)

3.    http://cmpaner.blogspot.com  (The Painting Doctor-“Restorer/Conservator”)

4.    http://sulit.com.ph/3498047  (Research assistance/Thesis Assistance/Thesis Editing)

5.    http://sulit.com.ph/4829772 (LET Review by a LET Topnotcher and Veteran Reviewer)

6.    http://sulit.com.ph/5040331 (Lotto Secrets Revealed!)

7.    http://sulit.com.ph/5058879 (Muscle Building Cookbook)

8.    http://sulit.com.ph/5069982 (Wedding Photography Secrets)

9.    http://sulit.com.ph/4973311 (Food Cart Franchise Business)

10.  http://sulit.com.ph/4833582 (St. Peter Life Plan and Memorial Chapels)

11.  http://sulit.com.ph/4186306 ( Art and Craft Materials for Sale At Low Price!)

12.  http://sulit.com.ph/4621349 (Cleaning and Restoration of Paintings)

13.  http://sulit.com.ph/4869897  (Natracare Food Supplements)

14.  http://sulit.com.ph/4802983 (LET Reviewer Books)

15.  http://sulit.com.ph/5021693 (How to Lose Weight Fast!)

16.  http://sulit.com.ph/5093345 ( How to Stop Hair Loss and Regrow It the Natural Way)

17.  http://sulit.com.ph/5126659  (How to Get Pregnant Fast!)

18.  http://sulit.com.ph/4930508  (Condo for Rent at 39K Infinity Tower, Global City, Taguig)

19.  http://sulit.com.ph/5538321  (Licensure Exams for Teachers LET online review)

20.  http://sulit.com.ph/5423603  (Internet Marketing Illuminati- How to Make Money Online Fast!)

21.  http://sulit.com.ph/5352564  (Internet Millionaire Looking for Students!)

22.  http://sulit.com.ph/5628715  (The Ultimate Diablo 3 Guide)

WORK  EXPERIENCE

• Instructor 5, CFAD, IPEA, Pharmacy, CTHM, University of Santo Tomas

SY 1995-Present

Subjects taught: Organic Chemistry lab., Statistics, College Algebra,

                           Algebra with Trigonometry, Business Math, Physics,

                          Plane & Solid Geometry, Environmental Science, Biology

                                                                                                                                                

• Part Time Instructor, Our Lady of Perpetual Help College, Manila

Subjects taught: Food Microbiology (Lecture and Laboratory)                                                                                                         

• Part Time Instructor, St. Paul’s College, Quezon City

Subjects taught: Lec. & Lab: General Microbiology, Biochemistry, Microtechnique

• Part Time Instructor, Unciano Colleges and General Hospital, Inc., Manila

Subjects taught: Lec. & Lab: General Microbiology and Parasitology, Inorganic Chemistry,

                          Comparative Anatomy, Botany, Organic Chemistry, General Zoology,

                          Biology, Biochemistry

OTHER PROFESSIONAL EXPERIENCE

·         Editor and Professional Consultant, MET Publishing House, Manila

·         Microbiologist, Silver Swan Manufacturing Inc.,Panghulo, Malabon

·         Biochemist, Watercare Philippines, Inc., Valenzuela City

·         Food Production Researcher(Mushroom Culture), TWH, Inc., Cainta Rizal

·         Review Director for LET, Center for Educational Excellence, Inc.

·         Project Consultant on “Biodeterioration of Artworks”, Paper Conservation Laboratory, Archives Dept., Arzobispado de Manila

Projects: Conservation of paintings by Fernando Amorsolo, Botong Francisco,

               Ben Cab, Cezar Legaspi, Simon Flores, Betsy Westerndorp

·         Licensure Exams For Teachers (LET) Reviewer at:

- Malabon City University,MET Review Center, UST-College of Education, Caloocan   Polytechnic College, Trinity College, & Center for Educational Excellence Inc.

AWARDS AND HONORS

• Beato  Angelico Service Award
• 10^th Placer (85.60%), Licensure Examinations for Teachers (LET)
• Full College Scholarship by Lourdes Reyes Foundation
• Professional Civil Service Examinations, weighted ave: 86.49%
• Valedictorian, High School
• Salutatorian, Elementary
• Certificate of Appreciation as resource speaker on the topic “Visual Arts and Restorations”, Faculty-Student Art Forum, Beato Angelico Bldg.,UST.
• Recognition Award for invaluable support and committed service to HARIBON UST as adviser from 2002-2004
• Honored as 4^th Degree(highest degree) member of the Knights of Columbus

 Given by Philippine District IV-NCR

·            Loyalty and Faithful Award for 13 years of Service

 Knights of Columbus UST- Faculty Council 4321

·            Dedicated and Competent Service Award as LET Reviewer

 Malabon City University                                                                                           

·            Champion, Pautakan Quiz Bee for Coaches, UST                                                          

·            Family of the Year Award

            Knights of Columbus UST Faculty Council 4321

·         UST Graduate School Thesis Writing Grant

  UST Graduate School Alumni Association

·         Certificate of Recognition for invaluable Contribution as Lecturer/Reviewer

 Pilot Project on Review Classes for Licensure Examinations for Teachers

 College of Education, UST                                                   

·      Certificate of Appreciation as guest speaker on the topic “Products that Cause Cancer”, given by NEWAYS International (Phils.), Makati City

       

TRAINING /SEMINAR WORKSHOPS

• Seminar on Test and Measurement Evaluation

• Seminar on Principles/Philosophy of Education

·        Faculty Development Seminar

• Traditional Filipino Art

• Curriculum Development                                                
• Rubrics Development Across Disciplines                                         
• Certificate on Adobe Photoshop
• Certificate on PC Troubleshooting and Networking
• The Ethics of Teaching
• Rights and Responsibilities of the Faculty Members, Academic and Administrative Officials and Office Staff Seminar                                                   
• UST-CFAD Planning and Development Seminar
• Shepherding the Shepherds
• Workshop on Syllabus Construction                                                                        
• Textbook and Learning Materials Development
• Computer Literacy on Adobe Illustrator, Photoshop, & MS Excel
• Symposium on Waste Management
• Ecological Symposium
• Bringing Out the Best in Me and the Best in You
• Integrating Media in Classroom Instruction( Design, Production, and Utilization of Media)
• Principles and Methods of Humane Educators
• Certificate on Basic Industrial Electronics
• Certificate on Information Technology
• Symposium on the Preservation of our Environment

·         Research Colloquia on Indoor Air and Water Quality in Relation to Building Design

·         Convention of Philippine Association of Academic Biochemists,          

• 16^th Annual Convention of Philippine Biochemical Society
• Script Writing Workshop
• Basic Business and Financial Management                                                             

AFFILIATIONS

• Member, CFAD- Adhoc Committee on Math Department
• Member, CFAD-Committee on Environmental Advocacy
• Member, CFAD-Adhoc Committee on Value Formation
• Board of Director

Philippine Association  for the Scientific Conservation of Cultural Properties   

• Deputy Grand Knight, Knights of Columbus UST Faculty Council No. 4321
• Auditor

College of Fine Arts & Design Faculty Association

• Adviser, HARIBON UST
• Business Manager, NOH-SCC Alumni Association
• Member, Outreach Program Committee

College of Architecture and Fine Arts

LANGUAGES SPOKEN

English, Filipino, Italian, Japanese

OTHER SPECIAL SKILLS/TALENTS

• Thesis Editing/Research Assistance
• Computer operation using MS Word, Excel, Powerpoint, Adobe Photoshop, Internet
• Computer Hardware repair and Software installations
• Website/Blog Construction/SEO/Internet Marketing
• Photography
• Swimming
• Playing Banduria
• Singing
• Riding ATV

mathmathBUSINESSMATH

Okaaay.. so this is my first time to have a blog and to make one, hmm where will I start? ah okay I know, i'll start on telling things about myself. sooooo, hi I'm Jazel Ong 3rd year student taking up Bachelor of Science major in Industrial Design at University of Santo Tomas, it's been a while since I have a math subject, after 2 years atlast I had one! Do you know the feeling when you didn't see or hear about it? It's like you don't know about it anymore, as in a blank space in your brain trying to remember all the numbers, the adding, subtracting, multiplying, dividing, fractions and other things related to numbers. Math has many branches but now we are only tackling on business math, so what is business math?

Business math, business math, business math hmmm.. so we all know know that if we will run a business there will be always numbers, they are everywhere! When you buy something, sell something, want, have, eat something there will always be, they will not leave you alone! Sooo enough of this number thing, let's talk about business. In a business everyone knows that money goes round and round, in starting one, having one, making it productive and so on. Business  is an organization engaged in the trade of goods, services, or both to consumers. Enough also with the chit chat let's move on to the real deal, Business math, so what is the very first thing that comes in your mind when you hear the word business math?  Me, the first thing that comes into my mind is money, you want to know why? I know you do :P money because it's all about the money money money, everybody needs it.

Last Thursday, June 14, we started our lesson about business math, we are all joking that atlast we saw numbers after a long time. Our professor discussed about profit and loss for our first chapter. Profit is the amount by which sales are greater than the cost, it is also called as margin. Yeah in tagalog profit means "tubo", like Kris Aquino said, "It's getting more than what you paid for." :) okay let's move on, the actual amount received for selling the goods is called gross sales. The amounts returned usually if goods are defective is called refunds. And when it is obtained when refunds are being deducted from the gross, it is called net sales. To get the net profit of these things our professor showed us a formula:

                         Gross Sale

- Sales return and allowance

    _______________________________

              NET SALE

- Cost of goods sold

   ________________________________

      GROSS PROFIT

- Operating expenses

     ________________________________

     NET PROFIT

So that was the formula that was given to me, obviously it is all about business, having goods, expenses, sale, allowance  yeap it is business. We were also given another formula that is about how to compute the costs of good sold. It starts with purchasing the products, beginning inventory, and ends with the available of goods and ending inventory, here's the formula:

Beginning inventory

+             Purchase

__________________________

AVAILABLE GOODS

-      Ending inventory

___________________________

COSTS OF GOODS SOLD

Okay there's a new word tadaaaaaa.. Inventory,  it is taking down all the purchases, the expense, the payment in a business. Now I know, how money talks, how they spread and how were they computed.

Information overload!! hahaha so there it is, my first blog.Okay okay I know this is kinda cheesy but someday I will have my own business, apply all these things, then BOOM! A successful person! :) hahahaa Will make a new one next week, goodbye :>