mathmathBUSINESSMATH

Okaaay.. so this is my first time to have a blog and to make one, hmm where will I start? ah okay I know, i'll start on telling things about myself. sooooo, hi I'm Jazel Ong 3rd year student taking up Bachelor of Science major in Industrial Design at University of Santo Tomas, it's been a while since I have a math subject, after 2 years atlast I had one! Do you know the feeling when you didn't see or hear about it? It's like you don't know about it anymore, as in a blank space in your brain trying to remember all the numbers, the adding, subtracting, multiplying, dividing, fractions and other things related to numbers. Math has many branches but now we are only tackling on business math, so what is business math?

Business math, business math, business math hmmm.. so we all know know that if we will run a business there will be always numbers, they are everywhere! When you buy something, sell something, want, have, eat something there will always be, they will not leave you alone! Sooo enough of this number thing, let's talk about business. In a business everyone knows that money goes round and round, in starting one, having one, making it productive and so on. Business  is an organization engaged in the trade of goods, services, or both to consumers. Enough also with the chit chat let's move on to the real deal, Business math, so what is the very first thing that comes in your mind when you hear the word business math?  Me, the first thing that comes into my mind is money, you want to know why? I know you do :P money because it's all about the money money money, everybody needs it.

Last Thursday, June 14, we started our lesson about business math, we are all joking that atlast we saw numbers after a long time. Our professor discussed about profit and loss for our first chapter. Profit is the amount by which sales are greater than the cost, it is also called as margin. Yeah in tagalog profit means "tubo", like Kris Aquino said, "It's getting more than what you paid for." :) okay let's move on, the actual amount received for selling the goods is called gross sales. The amounts returned usually if goods are defective is called refunds. And when it is obtained when refunds are being deducted from the gross, it is called net sales. To get the net profit of these things our professor showed us a formula:

                         Gross Sale

- Sales return and allowance

    _______________________________

              NET SALE

- Cost of goods sold

   ________________________________

      GROSS PROFIT

- Operating expenses

     ________________________________

     NET PROFIT

So that was the formula that was given to me, obviously it is all about business, having goods, expenses, sale, allowance  yeap it is business. We were also given another formula that is about how to compute the costs of good sold. It starts with purchasing the products, beginning inventory, and ends with the available of goods and ending inventory, here's the formula:

Beginning inventory

+             Purchase

__________________________

AVAILABLE GOODS

-      Ending inventory

___________________________

COSTS OF GOODS SOLD

Okay there's a new word tadaaaaaa.. Inventory,  it is taking down all the purchases, the expense, the payment in a business. Now I know, how money talks, how they spread and how were they computed.

Information overload!! hahaha so there it is, my first blog.Okay okay I know this is kinda cheesy but someday I will have my own business, apply all these things, then BOOM! A successful person! :) hahahaa Will make a new one next week, goodbye :>