GERUNDS

They are created out of verbs, but function as nouns.

For example:
"Do you mind my borrowing these supplies?"
At a quick glance, borrowing could easily be labeled as a verb.
However, when working as a gerund, borrowing is now a noun.

One way to spot a gerund is to notice that they always end in -ing. Just
remember they're not the only players in the game ending in -ing. 
Present participles (verbs indicating continuous activity) also end in -
ing.
For example:
"I was sitting there." Sitting looks like and acts like a verb in this
instance.

Gerunds can function as subjects, direct objects, indirect objects,

objects of prepositions, and predicate nouns.
Gerunds as subjects:
 Reading is relaxing.
 Writing is an exchange of ideas.

Gerund phrases as subjects:

 Swimming laps is the most relaxing activity in the world.
 Filing papers can give you a paper cut.

Gerunds as direct objects:

 I love reading. (verb = love; love what? reading)
 Patrick likes photographing nature. (verb = likes; likes what?
photographing)
Gerund phrases as direct objects:
 I enjoy shopping with friends. (verb = enjoy; enjoy what? shopping with
friends)
 My friends anticipated our trying on new shoes. (verb = anticipated;

anticipated what? trying on new shoes)

Gerund phrases as objects of prepositions:
 Her joy in preparing for company was obvious. (preposition = in)
 Since completing his degree, his opportunities are endless. (preposition
= since)