Revision sheet: Media Literacy and Basic Accounting

📋 Course Outline

1. Media Types, Advertising, and Design
2. Logo Design and Typography
3. Media Languages and Camera Angles
4. Media Ethics, Trends, and MOOCs
5. Financial Ratio Categories
6. Bank Accounts and Documents
7. Bank Reconciliation
8. Taxable Income and Taxpayers

📖 1. Media Types, Advertising, and Design

🔑 Key Concepts & Definitions

• Outdoor Advertising : promotes businesses or products through outdoor means
• Design : creates a product that is artistic and functional

★ Must-know

📌 Print media presents information on paper, whereas digital media shares information through digital platforms.

📌 Design elements are the basic building blocks of a design, whereas design principles describe how those elements are arranged.

Further detail

• Examples of outdoor advertising include:
  • billboards
  • lamp posts
  • retail
  • transit
  • guerilla
  • specialty
  • stunts
  • signage
  • point-of-sale advertising

💡 Memory Hook

Print puts information on paper, whereas digital shares it through platforms.

📖 2. Logo Design and Typography

🔑 Key Concepts & Definitions

• Brand Mark : the graphic part of a logo
• Brand Name : the company or product name in a logo
• Strapline : a short phrase that adds context to a logo

★ Must-know

• The seven logo types are:
  • monogram
  • wordmark
  • pictorial mark
  • abstract mark
  • mascot
  • combination mark
  • emblem

📌 A typeface is the design or shape of characters and a family of related fonts, whereas a font is a collection of characters with different sizes and styles.

Further detail

• Serif fonts have small strokes and are commonly used in printed text, whereas sans serif fonts lack strokes and are commonly used for computer displays.

💡 Memory Hook

Logo structure: Mark, Name, Strapline — MNS.

📖 3. Media Languages and Camera Angles

🔑 Key Concepts & Definitions

• Media Language : how meaning is created and communicated through media
• Genre : a type or category of media

📝 Essential Points

• Technical codes include:

  • camera work
  • editing
  • audio
  • lighting

• Symbolic codes include objects, setting, clothing, colors, and facial expressions, while written codes include titles, captions, slogans, typography, and dialogue.

• Camera angles have these effects:

  • Eye-level: natural or realistic
  • High angle: makes the subject look weak or small
  • Low angle: makes the subject look powerful
  • Bird’s-eye: view from above
  • Worm’s-eye: view from below
  • Dutch angle: creates tension or confusion

💡 Memory Hook

High angle weakens the subject, whereas low angle empowers it.

📖 4. Media Ethics, Trends, and MOOCs

🔑 Key Concepts & Definitions

• Intellectual Property : creations of the mind
• Plagiarism : taking credit for someone else’s words or ideas
• MOOC : Massive Open Online Course

★ Must-know

• Copyright protects literary and artistic works, patents protect inventions, trademarks distinguish goods or services, industrial designs protect the aesthetic design of an article, and geographical indications identify goods by their place of origin.

📌 Fair use permits limited use of copyrighted material for teaching, research, criticism, and parody.

Further detail

• The six emerging technologies are:

  • haptic technology
  • voice and tone recognition
  • internet or smart glasses
  • eye tracking
  • motion and face detection
  • contextual awareness

• The four characteristics of a MOOC are:

  • persistency
  • accessibility
  • immediacy
  • interactivity

💡 Memory Hook

IP protection → fair use → ethical sharing → emerging technologies → MOOC learning.

📖 5. Financial Ratio Categories

🔑 Key Concepts & Definitions

• Financial Ratios : quantitative tools used to evaluate a company’s financial performance and overall condition

★ Must-know

📌 Liquidity ratios measure the ability to meet short-term obligations, solvency ratios measure long-term financial stability, profitability ratios measure profit generation, and efficiency ratios measure the use and management of assets and resources.

• Current ratio measures the ability to pay short-term obligations using current assets, while quick ratio measures the ability to pay them using liquid assets.

• Gross profit margin measures profit remaining after the cost of goods sold, while net profit margin measures profit remaining after all expenses.

Further detail

• Debt-to-equity ratio compares a company’s debt with owners’ equity, while interest coverage ratio measures its ability to pay interest expenses using operating earnings.

• Receivables turnover measures collection efficiency, inventory turnover measures how efficiently inventory is sold and replaced, days in inventory measures how long inventory remains before sale, and asset turnover measures how efficiently assets generate sales.

💡 Memory Hook

Liquidity, Solvency, Profitability, Efficiency: LSPE.

📖 6. Bank Accounts and Documents

★ Must-know

• Types of bank accounts include:

  • savings account: earns interest and encourages savings
  • checking or current account: used to deposit and withdraw money
  • time deposit account: holds money invested for a set period

• A deposit slip is used to deposit funds, a withdrawal slip is used to withdraw money, and a check is a written order instructing a bank to pay a specific amount.

Further detail

• Cash is the most delicate asset of a business because it is vulnerable to fraud, theft, and robbery.

📌 A cash deposit deposits cash into a bank account, whereas a check deposit deposits a check into a bank account.

💡 Memory Hook

A deposit slip puts funds in, whereas a withdrawal slip takes funds out.

📖 7. Bank Reconciliation

🔑 Key Concepts & Definitions

• Bank Reconciliation : the process of comparing the company’s book balance with the bank statement to identify differences

★ Must-know

📌 A deposit in transit is recorded in the books but not yet reflected in the bank statement, whereas an outstanding check is also recorded in the books but not yet reflected in the bank statement as a cleared check.

• Bank errors are errors made by the bank in recording or processing transactions, whereas book errors are errors made by the depositor in recording transactions.

📌 A credit memo adds to the depositor’s account and a debit memo deducts from it, with neither yet recorded in the books.

📌 Bank reconciliation ensures that the adjusted bank balance and adjusted book balance are equal after reconciling items and adjusting entries are considered.

Further detail

• An NSF check is returned by the bank because of insufficient funds.

💡 Memory Hook

Reconciling items create differences → adjustments produce equal balances.

📖 8. Taxable Income and Taxpayers

🔑 Key Concepts & Definitions

• Gross Income : all income derived from whatever source that is subject to tax
• Income Tax Payable : the amount of tax that a taxpayer is required to pay
• Allowable Deductions : amounts permitted by the Tax Code to be subtracted from gross income

★ Must-know

📐 Formula — Taxable income is calculated as gross income less allowable deductions: $\text{Taxable income} = \text{Gross income} - \text{Allowable deductions}$.

📌 A resident citizen and a domestic corporation are taxed on worldwide sources, whereas a non-resident citizen, resident alien, non-resident alien, resident foreign corporation, and non-resident foreign corporation are taxed on Philippine-source income.

Further detail

• An NRA-NETB is a non-resident alien not engaged in trade or business and is taxed on Philippine-source income through a final tax on gross income, while an NRFC is taxed on Philippine-source income through a final tax on gross income.

💡 Memory Hook

Gross income − allowable deductions → taxable income → tax due.

📊 Synthesis Tables

Financial Ratio Categories

Category	What it measures	Examples
Liquidity	Ability to meet short-term obligations	Current ratio; quick ratio; working capital
Solvency	Long-term stability and obligations	Debt-to-equity; interest coverage
Profitability	Ability to generate profit	Gross profit margin; net profit margin; ROA; ROE
Efficiency	Use and management of assets and resources	Receivables turnover; inventory turnover; asset turnover