Check it!

(How a typical check looks like)

Checks are now one of the many ways in paying for stuff like buying, paying tuition etc, anything that involves spending your money. For me checks are one of the most useful when it comes to paying something with a big value. For me checks are more dependable that credit cards in many ways. The only time I get hold to a check is when I enroll and pay for my tuition. I do not really know much about a check. The only thing I do know about a check is how it looks like and that we have to write the amount on how much we will pay and information like your name and the company or school you are paying it to. I started to know more about checks in our topic in business math class about "Bank Reconciliation"..


 Bank Reconciliation is the process of bringing the bank's monthly report for each depositor showing deposits made, checks written, cancelled checks, and service charges. Checkbook contains checks and check stubs. The checks are filled out by the depositors made, and of charges made by the bank. Reconciliation statement making an agreement to the bank statement balance and the checkbook balance.


The differences in the balances may be due to:

• Outstanding checks- checks issued by the depositor but have not yet been presented to the bank for payment. 
• Deposit in Transit- deposits made but late to be included in the monthly bank statement. (because of cut off period)
• Service Charges
• Errors in check stub entries
• Cancelled checks- checks that have been payed by the bank.

Checks are useful but it also has its disadvantages so here are the Advantages and Disadvantages of checks:

Advantages

Convenience is the benefit often cited when consumers are asked why they use check-cashing services. There are both freestanding check-cashing places and those located inside of other businesses, such as grocery stores.

These businesses are usually open later than a traditional bank and most will cash checks instantly as long as the customer has a picture ID.

There are no monthly fees as there would be with most bank accounts. Instead, consumers pay a fee only when they have a check to cash. For someone who doesn't cash checks very often, this could save them money.

Disadvantage

The way that check-cashing places make money is to charge a fee for every check that they cash. This fee is usually a percentage of the check. The percentage charged varies from place to place and often depends of the type of check that is being cashed. For example, the fee may be lower for a government check than for a personal check.

Fees typically range from 1% to 5% of the face value of the check. If you use a check-cashing place to cash all of your payroll checks, that essentially means you will take home 1% to 5% less than you would if you cashed your checks at a traditional bank

Knowing about checks is very important even though you are still a student. Because in the future we will be the ones to be handling checks ourselves for business and other stuff that we need to handle. If we know more about checks we won't be fooled to easily or commit bad mistakes that could really hurt you when it comes to money issues. Money pretty much dictates the way we live so learning about checks, credit cards and all other stuff that is connected to money and business is very important when you want to live a wealthy life.

CRISENCIO M. PANER

CP : 0915-1429675
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

Caloocan City Polytechnic College

PUBLICATIONS

Book:
Co-author in LET Reviewer in Biology, 2006-2010

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.

Email

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



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

Tomas -Commissioned by UST (Nov. 2009-May 2010)

BLOGS/ADS


http://internet-moneymakingsecrets.blogspot.com (Money-Making Secrets)
http://internet-moneymakingsecrets.weebly.com (Internet Marketing Secrets)
http://cmpaner.blogspot.com (The Painting Doctor-“Restorer/Conservator”)
http://sulit.com.ph/3498047 (Research assistance/Thesis Assistance/Thesis Editing)
http://sulit.com.ph/4829772 (LET Review by a LET Topnotcher and Veteran Reviewer)
http://sulit.com.ph/5040331 (Lotto Secrets Revealed!)
http://sulit.com.ph/5058879 (Muscle Building Cookbook)
http://sulit.com.ph/5069982 (Wedding Photography Secrets)
http://sulit.com.ph/4973311 (Food Cart Franchise Business)
http://sulit.com.ph/4833582 (St. Peter Life Plan and Memorial Chapels)
http://sulit.com.ph/4186306 ( Art and Craft Materials for Sale At Low Price!)
http://sulit.com.ph/4621349 (Cleaning and Restoration of Paintings)
http://sulit.com.ph/4869897 (Natracare Food Supplements)
http://sulit.com.ph/4802983 (LET Reviewer Books)
http://sulit.com.ph/5021693 (How to Lose Weight Fast!)
http://sulit.com.ph/5093345 ( How to Stop Hair Loss and Regrow It the Natural Way)
http://sulit.com.ph/5126659 (How to Get Pregnant Fast!)
http://sulit.com.ph/4930508 (Condo for Rent at 39K Infinity Tower, Global City, Taguig)
http://sulit.com.ph/5538321 (Licensure Exams for Teachers LET online review)
http://sulit.com.ph/5423603 (Internet Marketing Illuminati- How to Make Money Online Fast!)
http://sulit.com.ph/5352564 (Internet Millionaire Looking for Students!)
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),
Review Director for LET, Center for Educational Excellence, Inc.
Project Consultant on

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
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 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

Pilot Project on Review Classes for Licensure Examinations for Teachers
College of Education, UST
• Certificate of Appreciation as guest speaker on
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
Convention of Philippine Association of Academic Biochemists ,

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

4

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
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

Profit and Loss and a few Formulas

Our first lesson was about profit and loss. This two are exactly the opposite. Profit is what you gain in your business and loss is of course what you lose. In our first class of business math, we studied about these facts and also their formulas. At first i was like "formulas = memorization = headache". I never enjoyed memorizing formulas. I always think of math formulas are not useful and not worth knowing when it comes to the real world. But what i learned in this lesson that it is actually important to know and apply in the real world especially when you are running a business.

If the shop sells a thing for more than they paid for it, then the difference is the profit. So the formula for solving your  profit is: Profit = Selling Price - Cost price. If the shop sells a thing for less than they paid for it, then the difference is the loss. So the formula for solving your loss is: Loss = Cost price - Selling price. (Click 1ink for examples)


In our  profit and loss lesson we also studied about Gross Profit, Gross Sales, Net Profit, Net Sales, Refunds, Allowances, Goods Sold and Operating Expenses. Here are their definitions (most of these definitions are from investorwords.com)
Gross Profit- Calculated as sales minus all costs directly related to those sales.
Gross Sales- is the actual amount received for selling the goods.
Net Profit- often referred to as bottom line, net profit is calculated by subtracting a company's total expenses from total revenue, thus showing what the company has earned (or lost) in a given period of time (usually one year). Also known as net income or net earnings.
 Net Sales- Gross sales minus returns, discounts and allowances.
Refunds- the return of retail goods of a customer for his/her money back.
Allowances- funds allocated periodically for a started purpose.
Operating Expenses- an expense arising in the normal course of running a business, such as electric bill.

Formula given for these:
Gross Sales - Sales Returns and Allowances = Net sales
Nets Sales - Cost of Goods Sold = Gross Profit
Gross Profit - Operating Expenses = Net profit


Other important facts in our lesson is Inventory. The definition of this is: A company's merchandise, raw materials, and finished and unfinished products which have not yet been sold. These are considered liquid assets, since they can be converted into cash quite easily. There are various means of valuing these assets, but to be conservative the lowest value is usually used in financial statements.

The securities bought by a broker or dealer in order to resell them. For the period that the broker or dealer holds the securities in inventory, he/she is bearing the risk related to the securities, which may change in price.

Formula given for Inventory:

Beginning Inventory + Purchases = Goods for Sale

Goods for Sale - Ending Inventory = Costs of Goods Sold

Knowing these Formulas are not just important in Business Math class, when we have seat works, home works etc. it is also very important to know in real life when you are running your own company or business. It helps you to find out what you gain or what you lose in your business and helps you solve the problems that you are dealing with, good or bad. That is why we have to keep in mind of these Formulas and remember them as a helpful thing for running your business and not a burden in class.

m&m (Math and Money)

This is my first ever blog and i never knew that i would make a blog just for my project for my class called Business Math. My professor in Business Math, Mr. Crisencio M. Paner thought of an activity that every week we should make a blog and the topic should be about anything to do with Business or Mathematical. My older sister and some of my cousins have been blogging for a very long time now. Actually my older sister, Hannah Arce who is a third year student in Ateneo School of Medicine and Public Health, has blogs for some Marketing agency and she gets paid for this, which made me more interested on this blogging thingy. Who knew that my first blog and a few blogs to come in the future will be about Business Math. Maybe after this semester when I don't have to blog for my business math class I might be able to enjoy and get into this blogging activity and think of my own topic i would like to blog about. But for now, the blogs I will be making once a week would be all about business or something mathematical. Right now I will be talking about how math and money "m&m" connect and compliment each other business wise and how business math can help us in the future.

For two years in college without math, it is finally back. I'm a third year student of Industrial Design in University of Santo Tomas and for two years we did not have a subject that is connected or based on math. This semester, every Thursday night we have a subject called Business Math. My first reaction to this was "oh no, math is back". Well my mom is a math teacher who graduated from BS Math in University of the Philippines Diliman, but I don't think I got a lot of her "math skill". Well I'm not saying that I suck at math, actually I'm not that bad in high school and in elementary when it comes to math (just saying), I just was not fond to the subject. I get bored easily and sometimes get pissed when it comes to long equations. But what I am fond of is money, I mean who isn't? Well I do sometimes have problems in saving money but I would do a lot just to earn some extra bucks, but of course it has to be legal or at least ethical. In the future I would really like to run my own business or company or just earn big bucks. When i found out that the subject Business Math is is not all math but more on business, i became more interested to the subject and thought "oh, this subject is not that bad". But of course two sessions just had passed to the subject so i should not chillax to much, of course I still should be prepared and be ready in what is coming in the next weeks on this subject and i will try my best to enjoy and learn it well.

Math and Money which I would like to call "m&m" are very much connected in every way. For me the definition of Business Math is Math and Money. You can't just start doing business without knowing math. If you don't, you will surely fail, nothing will happen in your business, you even won't be able to know where or how to start. In another definition in tagalog without knowing math in your business "wala ka ng diskarte". In this subject we will be learning on how business is being done and how math is used in it. We will be learning about formulas connecting to profit and loss. Knowing the formulas is very important in business problems and finding out how much profit you have earned or the losses you have lost (I would be talking more about these formulas in my next blog "Profit and Loss"). Knowing how sales and inventory are used mathematically for business is also very important. When we learn more about the mathematical side in business, taking care of your business would be easier. Knowing this will let you know how to solve your problems in your business mathematical wise. Knowing the facts on how math and business is connected is a very important thing to learn and will give us a very big heads up, especially when we graduate and start running our own business in the future, chillax is not an option. It will be interesting for me to learn this because I would really love to run my own business or play a very big part in a big company, especially a designing company which will be related to my course, Industrial Design. And i know that studying business math will really help me in achieving in what I'm aiming for.