Math, what do people or students think whenever they hear this word? We all know that math is not an easy subject. Some people may take it as a terror subject; some may enjoy it because they simply love it. If you were to ask me what I think about math, my answer would simply be “I don’t like it, but I don’t hate it either. So it’s fine with me.” Back when I was in high school, Math was one of my favorite subjects. I used to compete with my classmate who will finish solving first. Anyway, enough of my past, what’s important now is the present. This brings me to my concern, BUSINESS MATH. What is Business Math? Well then, let’s discuss it here. J

Mr. Crisencio Paner is our Professor in Business Math, and it seems like he knows a lot about what he's teaching us. I look up to him because in spite of his condition,

it didn't stop him to continue his life and pursue his dreams. He's a good mathematician.

Here are some about Business Math that I know.    

Business maths is used by commercial enterprises for managing business operations.

Business Math can be used in some cases:
- accounting
- inventory management
- marketing
- sales forecasting
- financial analysis

Incurring debt and making a series of expenditure  to reduce this debt to nothing is something we all must do in our lifetime as we make purchases that would only be feasible if we are given sufficient time to pay down the amount of the transaction.

The basic definitions required for someone to understand the concept are: 1. Principal - the initial amount of the debt, usually the price of the item purchased. 2. Interest Rate - the amount one will pay for the use of someone else's money. Usually expressed as a percentage so that this amount can be expressed for any period of time. 3. Time- essentially the amount of time that will be taken to pay down (eliminate) the debt. Usually expressed in years, but best understood as the number of and interval of payments, i.e., 36 monthly payments.  Simple interest calculation follows the formula: I= PRT, where I=Interest P=Principal R= Interest Rate T= Time. And Here are some about Business Math that our Professor, Mr. Crisencio Paner, taught us.              Inventory is an itemized lists of goods on hand. Gross Profit is the difference between the net sales and the cost of goods sold. Operating expenses or overhead are selling expenses such as salaries or wages, traveling expenses, rentals, water, electric bills, commissions, taxes. Net Profit is the amount obtained when all the selling expenses or other cost of doing business are deducted from the gross profit. The formulas in computing profit: Net Sales = Gross Sales – Refunds and Allowances                         Net Profit = Gross Profit – Operating Expenses The relationship of the terms of loss may be diagrammed schematically:                                     Cost of Goods Sold                                  -  Net Sales                                     Gross Loss                                 +  Operating Expenses                                     Net Loss Gross Sales, Refunds, Net Sales, Costs of goods sold or buying price. Gross Sales is the actual amount received for selling the goods. To compute for the cost of goods sold for a period of time, we have the formula here:                  Available Goods = Beginning Inventory + Purchases                 Costs of Goods Sold = Available Goods – Ending Inventory it may be diagrammed:                                    Beginning Inventory                                 + Purchases                                    Goods For Sale                                 -  Ending Inventory                                    Costs of Goods Sold Problem Solving is easy. You just have to analyse the problem, identify the given, and apply the appropriate formula for the problem.  Of course you have to study the formulas, memorize and understand them because it is a way to solve the problem, if you don't know the formula, YOUR DEAD! :)  I'm not scaring you, the key is to STUDY :)