Revision sheet: MIL and FABM Exam Review

📋 Course Outline

1. Media Types and Advertising
2. Design Elements and Principles
3. Logo Design and Typography
4. Media Language and Camera Angles
5. Intellectual Property and MOOCs
6. Financial Ratio Categories
7. Liquidity and Solvency Ratios
8. Profitability and Efficiency Ratios
9. Bank Accounts and Reconciliation
10. Taxable Income and Taxpayers

📖 1. Media Types and Advertising

🔑 Key Concepts & Definitions

• Outdoor advertising : promotes businesses or products through outdoor means

★ Must-know

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

Further detail

• A billboard is an example of outdoor advertising and represents a traditional form of outdoor advertising.

• Digital outdoor advertising may use:

  • text
  • images
  • audio
  • video

💡 Memory Hook

Print stays on paper, while digital travels through platforms and outdoor advertising reaches public spaces.

📖 2. Design Elements and Principles

🔑 Key Concepts & Definitions

• Design : creates a product that is artistic and functional

📝 Essential Points

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

• Design elements include: line, which guides the viewer’s eyes, scale, which refers to the size of elements, color, which creates mood and attracts attention

• Important design principles and concepts are: contrast, the difference between elements, repetition, reusing elements to create rhythm, negative space, the empty area around elements, closure, the mind completing missing parts, symmetry, equal or balanced sides, framing, drawing attention to a particular part, composition, the overall arrangement of design elements

💡 Memory Hook

L-S-C-C-R-N-C-S-F: Line, Scale, Color, Contrast, Repetition, Negative space, Closure, Symmetry, Framing, Composition.

📖 3. Logo Design and Typography

★ Must-know

• Logo components include:

  • brand mark, the graphic part
  • brand name, the company or product name
  • strapline, a short contextual phrase

• Examples of logo types are:

  • monogram
  • wordmark
  • mascot
  • emblem

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

Further detail

• Serif fonts have small strokes, sans serif fonts do not have strokes, script or cursive typefaces imitate handwriting, and decorative or display fonts are highly decorated and used to attract attention.

💡 Memory Hook

Typeface is the character design; font is the character collection in specific sizes and styles.

📖 4. Media Language and Camera Angles

🔑 Key Concepts & Definitions

• Media Language : refers to how meaning is created and communicated through media

★ Must-know

• Media codes include:
  • technical codes: camera work, editing, audio, and lighting
  • symbolic codes: objects, setting, clothing, and colors
  • written codes: titles, captions, slogans, and dialogue

📌 Media conventions are accepted rules and expectations in media, whereas genre is a type or category of media.

• An eye-level angle gives a natural or realistic view, a high angle makes a subject look weak or small, and a low angle makes a subject look powerful.

Further detail

• A bird’s-eye angle shows a view from above, a worm’s-eye angle shows a view from below, and a Dutch angle creates tension or confusion.

💡 Memory Hook

Technical codes show how media is made, symbolic codes show what objects signify, and written codes use words.

📖 5. Intellectual Property and MOOCs

🔑 Key Concepts & Definitions

• MOOC : Massive Open Online Course

★ Must-know

📌 IP stands for Intellectual Property, which covers legal protections for creations, inventions, brands, designs, and related works.

• Forms of intellectual property protection include: copyright for literary and artistic works, patents for inventions, trademarks for distinguishing goods or services, industrial design for an article’s aesthetic design, geographical indications for goods’ place of origin

📌 Fair use permits limited use of copyrighted material for teaching, research, criticism, and parody, whereas plagiarism takes credit for another person’s words or ideas.

Further detail

• Creative Commons licenses allow works to be legally shared and reused.

• MOOC characteristics include:

  • persistency: materials remain available
  • accessibility: many learners can access the course
  • interactivity: learners interact with the course, instructor, and other learners

💡 Memory Hook

Copyright protects works, patents protect inventions, trademarks identify goods, and industrial design protects appearance.

📖 6. Financial Ratio Categories

🔑 Key Concepts & Definitions

• Financial ratios : evaluate financial performance and overall financial condition

📝 Essential Points

📌 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 how efficiently resources are used.

💡 Memory Hook

L-S-P-E: Liquidity, Solvency, Profitability, Efficiency.

📖 7. Liquidity and Solvency Ratios

★ Must-know

📐 Formula — Working capital shows the amount of current assets remaining after current liabilities, expressed as $\text{Working Capital} = \text{Current Assets} - \text{Current Liabilities}$.

• The current ratio measures the ability to pay short-term obligations using current assets, whereas the quick ratio measures that ability using liquid assets.

• The debt-to-asset ratio measures the portion of assets financed by debt, while the debt-to-equity ratio compares company debt with owners’ equity.

Further detail

• The equity-to-total-asset ratio measures the portion of assets financed by equity, and the interest coverage ratio measures the ability to pay interest expenses using operating earnings.

💡 Memory Hook

Liquidity concerns short-term obligations, whereas solvency concerns long-term financial stability.

📖 8. Profitability and Efficiency Ratios

★ Must-know

• Profitability measures include:
  • operating income ratio
  • gross profit margin
  • net profit margin

📌 ROA measures how effectively assets generate profit, whereas ROE measures how effectively owners’ equity generates profit.

• Receivables turnover measures how efficiently a company collects receivables, inventory turnover measures how efficiently inventory is sold and replaced, and days in inventory measures how long inventory remains before being sold.

Further detail

• Asset turnover measures how efficiently assets are used to generate sales.

💡 Memory Hook

Profitability asks how much profit is generated; efficiency asks how effectively resources and assets are used.

📖 9. Bank Accounts and Reconciliation

★ Must-know

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

📌 A savings account earns interest and encourages savings, a checking or current account is used to deposit and withdraw money, and a time deposit account holds money invested for a set period.

• Bank documents include:
  • deposit slip
  • withdrawal slip
  • check

Further detail

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

💡 Memory Hook

Record transactions, identify reconciling items, adjust balances, then make them equal.

📖 10. Taxable Income and Taxpayers

🔑 Key Concepts & Definitions

• Bank reconciliation : compares the company’s book balance with the bank statement

★ Must-know

📌 Deposits in transit are collections recorded in the books but not yet reflected in the bank statement, whereas outstanding checks are checks recorded in the books but not yet reflected in the bank statement.

📌 Bank errors are errors made by the bank, whereas book errors are errors made by the depositor when recording transactions.

📌 A credit memo is an addition made by the bank but not yet recorded in the books, whereas a debit memo is a deduction made by the bank but not yet recorded in the books.

• Bank reconciliation prepares a bank reconciliation statement, determines the adjusted bank and book balances, records adjusting entries for unrecorded book items, and ends when the adjusted balances are equal.

Further detail

• NSF means No Sufficient Fund and refers to a check returned by the bank because of insufficient funds.

💡 Memory Hook

Gross income minus allowable deductions produces taxable income, which determines tax due.

📊 Synthesis Tables

Intellectual Property Protections

Protection	What it protects or identifies
Copyright	Literary and artistic works
Patent	Inventions
Trademark	Goods or services
Industrial design	Aesthetic design of an article
Geographical indication	Goods’ place of origin

Taxpayer Source Rules

Taxpayer	Taxed income
Resident citizen	Worldwide sources
Non-resident citizen	Philippine sources
Resident alien	Philippine sources
Domestic corporation	Worldwide sources
Resident foreign corporation	Philippine sources
Non-resident foreign corporation	Philippine sources through final tax on gross income