This discipline helps in maintaining the good health of the company. This helps in analysing if the business is enough to run all the operations and if they are getting profits from the business or not. This particular subject helps in pricing the products and services after analysing all the costs and then in calculating the gross or net profit. Only after analysing all the costs, estimation of profits can be done and in this whole process, commercial maths plays a prominent role. In a business, it is very important to analyse the costs associated with the production of goods and services such as cost of raw materials, plant & machinery, rent, wages, marketing, administrative expenses, warehousing, interest as well as repayment of loans, etc. Management of each and every aspect related to the business helps it to grow and in this management commercial mathematics plays a huge role.īusiness maths plays a vital role in creating the base of the business. Measures of Central Tendency and Dispersionīusiness is all about management. Mathematical reasoning (basic application)Ĭonstant and variables, Functions, Limit & Continuityĭifferentiability & Differentiation, Partial Differentiation Simple and Compound interest including the application of Annuity The fundamental topics covered in business maths subject are mentioned below which can be covered from any business maths book: It also helps in evaluating the problems and taking appropriate decisions in this regard to simplifying the business processes. Mathematical models help in analysing the business problems and finding out the appropriate solutions so that those problems do not arise in the future. The mathematical formulas help in almost every field of business such as in wage or salary calculation, employee performance management, profit & loss analysis, etc. The operations or financial activities are controlled by business mathematics such as control on the cash flows, payroll, revenue, financial analysis, risk analysis, etc. It is beyond these basic concepts and includes other mathematical concepts as well. This is the discipline that consists of mathematical concepts related to the business and it is not only limited to cost, profit/loss, and interest. What does it mean, what are the various topics included in this, the importance of learning mathematics for business along with its scope? In this article, we will talk about this particular subject ie. It is also referred to as "commercial mathematics". The basic objective to learn this subject is to adapt the knowledge of various mathematical tools and techniques and models which helps in dealing with real-life business situations. It acts as a tool that helps in solving and controlling various business problems. For a business, it is a vital subject that a student has to deal with. Mathematics is considered to be the study of numbers, shapes & patterns and when this discipline is applied in a business, it becomes Business Maths.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |