Business math is the widely used tool for calculation in corporate enterprises and commercial centers. This particular branch of mathematics include, elementary algebra, probability, elementary arithmetic, such as fractions, percentages and decimals, as well as statistics, which helps in maintaining the operations and records of a company. In fact, certain lessons of business mathematics are also included in the syllabus of business management program. Matrix algebra, calculus, linear programming are some of the lessons that are included in managerial programs.
Business organizations and commercial houses often use business math for corporate analysis, accounting, financial analysis, marketing purposes, inventory management, sales forecasting and many more. These lessons of business mathematics can be taken in an undergraduate course, by business oriented or commerce students. The entire process in the undergraduate level is slightly easier to learn than in the higher mathematical courses in major.
Business Calculus and Business Statistics are the two most regular courses in the program of business math. The problems and their solutions involved in this category are generally related to practical situations. Thus, it becomes easier to apply them in the real scenario. A significant difference between the two branches of maths, regular and business lies in the method of calculus. While in pure mathematics, trigonometry forms an important part of calculus, in business or commercial math; there is hardly any use of trigonometry in solving the particular sum.
Besides calculus, other subjects are equally important in the course of business math. These include, linear programming, matrix algebra, probability theory and plenty of other papers. The business mathematics courses are included in the syllabus of schools and colleges to prepare the students not for academic orientation, but to make them commercially aware and sound with business knowledge. Practical application of mathematics in the world of business is the target of the course.
The course includes bits of arithmetic, in the form fractions, decimals, and percentages. There is also a detailed lesson of elementary algebra, bits and parts of geometry, in addition to trigonometry. The course on business math proves to be truly beneficial, especially for all those new employees in business, who are trained to carry out the mathematical operations in their fields of work.