Saturday, June 30, 2012

Depreciation Schedule

06/29/2012 - Every material does not last forever and that's why buying something requires a wise decision, especially when used in businesses. By recording the expenses, a company can make sure if the product they bought is helping them rather and not pulling them down. 

They call this as depreciation schedule. It is a record of how much value is left on a piece of equipment or asset as it is being used. But first, one should know how to get the total depreciation and getting the cost. Which is

Total depreciation

   Depreciation = Cost - Scrap Value

Annual Depreciation

   total depreciation
  --------------------
      life value  (P per year,unit, hour)

After getting the necessary requirements, the depreciation schedule can now be done;

Year   /   Hours in operation   /   Depreciation Charge   /       Amount in          /   book value at             
          /      (in machines)        /                                       /   depreciation fund   /     end of year
-------------------------------------------------------------------------------------------------------------------
 0                      0                                     0                                    0                                  #    << cost      
-------------------------------------------------------------------------------------------------------------------
 1                      #                                     #                                    #                                 #
-------------------------------------------------------------------------------------------------------------------
total 

                                                                                        *zero values placed are always zero

Everything has a limit in life and exceeding this limits has it's consequences. So it's better to keep in track about what is happening in not only in our daily lives but also the materials we use. And being a student is not an excuse to this practice! practice! practice!

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 sample problem: A machine costs P55,500, it has a probable life of 100,000 hours and has a scrap value of P5,000. Make a depreciation schedule of the first three years which has the operation hours of 12,000 , 15,000, and 10,000


SOLUTION

the total depreciation  is
        Depreciation = Cost - Scrap Value
                                55,500 - 5,000 = P50,500

          the charge for operating hour is
                                50,500
                              ------------  = 0.51
                               100,000

 Depreciation schedule

Year   /   Hours in operation   /   Depreciation Charge   /       Amount in          /   book value at             
          /      (in machines)        /                                       /   depreciation fund   /     end of year
-------------------------------------------------------------------------------------------------------------------
 0                      0                                     0                                    0                             55,500           
-------------------------------------------------------------------------------------------------------------------
 1                  12,000               12,000(0.51)   P6120                      6,120                         49,380                 -------------------------------------------------------------------------------------------------------------------
 2                  15,000               15,000(0.51)      7650                     13,770                        41,730
-------------------------------------------------------------------------------------------------------------------
3                   10,000               10,000(0.51)      5100                     18,870                        36,630
-------------------------------------------------------------------------------------------------------------------
total             P37,000                                P18,870               

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checked by Prof. Cris Paner

Saturday, June 23, 2012

Bank Reconciliation

06/22/2012 - "Papa, mama i need to pay for my tuition". And your parent will take out a piece of rectangular paper and writes something and gives it to you. We all know what that is, since it is also the most preferred amount of payment but how can one keep track of the money if they just writes, peel it off and gives it away?  

There are two things to remember first is "Bank Reconciliation". It is a process that let's you match the balance between one's accounting record and the bank's statement (provided of course by the bank that is usually given at the end of a month). And second is a "Reconciliation statement". It is the written form where one reports the balance between the two. Then there are also two formulas to remember:

Checkbook Balance           /          Bank Statement
+ errors                              /       +  deposits in transit
----------------------              /       ---------------------------
  total                                /          total
- non-sufficient funds       /        -  outstanding checks
-----------------------           /       ---------------------------

  cash balance     <<<<  same  >>>>   cash balance

As a student, ask your parents to understand it more and as a check holder, it is important to have your reconciliation statement. And lastly, as a last reminder, one must be careful when using checks! Swindlers may be keeping an eye on you.

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sample problem: On June 23,2012, monica recieve her bank statement with a balance of P10,567. While her checkbook balance was P10,110. She found out that the bank has deducted P5.50 because of service charge and that checks 15 has not yet been encashed which amounts to 300. Her deposit of P600 at the end of the month was also late to be included in the bank statement.
 
SOLUTION

Checkbook Balance    P10,872.50        /          Bank Statement         P10,567.00
+ interest                                0.00        /       +  deposits in transit             600.00
-----------------------------------------          /    -------------------------------------------
  total                              10,872.50      /           total                              11,167.00   
- non-sufficient funds              5.50      /      -  outstanding checks           300.00
-----------------------------------------        /    --------------------------------------------
  cash balance       P10,867.00                          cash balance           P10,867.00

----------------------------------------------------------------------------------------------------------------------------------
checked by Prof. Cris Paner

Saturday, June 16, 2012

Profit and Loss

06/15/2012 - Buying is a daily routine in our life and as you buy, have you ever wondered how some companies suddenly shut downs or suddenly prospers, while some are still at the average level; alive and kicking for more costumers. Hmmmmmm...

Well, Profit and Loss may help in this kind of situation. In companies, it's also called "income statement" where it helps them to track their income and expenses on a quarterly or annual basis. Knowing this, one must then know this formula which is:
     
      gross sales *
    - refunds *
    -----------------------
      net sales                                   * it is important that these are given
    - cost of goods sold **              ** same as * but may use the other formula to compute  the answer
    ----------------------- 
      gross profit
    - operating expenses *
    -----------------------
      net profit   

Every company or store also needs to keep track of their items in hand which they call inventoring here is also a formula to remember:

      beginning inventory
    + purchases
    -----------------------
      goods for sale
    - ending inventory
    -----------------------
      cost of goods sold

Some companies share their income statements online. Try practicing as early as now and maybe one day it may pop up in your lives and hunt you but since you already know this stuff then you'll just scare it away.

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sample problem: Monica's store has the sales of P499,819 for the 4th quarter. Her expenses is as follows: salary P3,000, rent P23,000, utilities P2,300 and miscellaneous P10,549. If their is a refund of P12,987 for defective supplies and the cost of goods amounting to P300,576.

SOLUTION
                                                                                                               
      gross sales                  P499,819.00
    - refunds                           12,987.00
    ---------------------------------------------
      net sales                      P486,832.00            
    - cost of goods sold        300,576.00
    --------------------------------------------- 
      gross profit                 P186,306.00
    - operating expenses 
                 salary        3,000
                 rent         23,000
                 utilities     2,300
                 misc.      10,549
                                              38,849.00
    ---------------------------------------------
      net profit                     P147,457.00
--------------------------------------------------------------------------------------------------------------------------------------------------------------------
checked by Prof Paner Cris 

Monday, June 11, 2012

Introduction

06/08/2012 - 6:00PM the start of the first day of the subject "Business Math" AKA "Math100a". As the professor enters, some are nervous to whom it may be and each are returning in their respective seats. ALAS! it is Prof. Cris Paner and this is where the story of monica begins...

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This is the CV of Professor Paner



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 20th 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
     •    10th 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 4th Degree(highest degree) member o
f 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,    
     •    16th 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
     •    Photography
     •    Swimming
     •    Playing Banduria
     •    Singing
     •    Riding ATV