Mathematics as a subject

          This is my first time to have a blog, and as a first timer I really don't know how to start, what to write and I also have a hard time on thinking about my topic so I decided to just post here about myself and my thoughts about the subject itself which is Mathematics. When I was in high school one of my favorite subject is math especially statistics and trigonometry because I love solving problems, and dealing with numbers. When I entered college and chose Fine Arts as my course. The first two years of my college life was so different because we focused more on how to develop our skill (model constructions, drafting, rendering, drawing and a lot of stuffs that will or can enhance our talent.) unlike on my high school days where in we study math every day. But it’s okay for me to have that kind of system of education because it really help us to develop our skills more but then when I heard that we are going to have math classes for this semester boom! I do not know what should be my reaction because after 2 years of not having math subjects my knowledge about math partially faded and I need some kind of a refresher to help me regain some stuff about math. I thought that in studying fine arts, mathematics is not an important subject in my course because here we design things and when were designing it is our experiences and imagination that we are using to come up with a new product. Come to think of it we are dealing with mathematics in our everyday life it starts when we wake up in the morning and ends when we sleep. Indeed math is really a part of life.

         For this semester we are going to have Business math classes. First what is business math? Business math can be use in managing business operations and enterprises. What is the importance of business math in managing a business? The importance of this subject in managing a business or an enterprise is that we are on track on our accounts and sales inventory. It is all about how to be systematic, organized, and enhancing business. 

          On our second meeting we discussed about "Profit and Loss". In managing a business there is always a profit (gain) or loss (bankruptcy). Profit is the excess of returns over expenditure in a transaction or series of transactions; especially the excess of the selling price of goods or products over their cost. It is also the compensation acquiring to entrepreneurs for the assumption of risk in business enterprise as distinguished from wages, rent and other operating expenses. While on the other hand loss is the amount by which the cost of something exceeds its selling price. In short profit and loss is a summary account used at the end of accounting period to collect balances of the nominal accounts so that the net profit or loss may be shown.

Formula in computing for profit :

Gross Sales 

- Sales Returns and Allowances 

________________________________ 

Net Sales 

- Costs of Goods Sold 

________________________________ 

Gross Profit 

- Operating Expenses 

________________________________ 

Net Profit

Here is an example:

A boutique had gross sales amounting to P 980,100. The cost of goods sold was P 375,500 ; the operating expenses were P 75,495 ,and refunds for defective garments amounted to P 75,100 . Find ; a. net sales b. gross profit c.net profit.

Solution: 

Gross sales P 980, 100.00 

Less: Refunds P 75,100.00 

______________________ 

a. Net sales P 905,000.00 

Less: Cost of goods P 375,500.00 

______________________ 

b. Gross profit P 529,500.00 

Less: Operating expenses P 75,495.00 

______________________ 

c. Net profit P 454,005.00 

          Honestly, Business math is indeed a very important and helpful subject for me it is one of the key factors in having a successful business. I will definitely apply all that I will learn in this subject in my future businesses.

CHECK BY: Prof. Cris Paner
http://profcrispanercurriculumvitae.blogspot.com/2012/06/crisencio-m.html