Math: Difference between revisions

From Wikistudy.ByJuho.fi
(adding teacher, type of course, course material and categoriesMandatory course in GloBBA in Category:mathematics)
(tweaking headings to norm)
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= Business Math 1 =
= Business Math 1 =


=== Business Math week 3 ===
=== Business Math 1 - Session 1: Interest calculations ===
* Interest calcualations
* Interest calcualations
** Simple interest calculation '''[[w:Interest|Interest]] = [[w:Bond_(finance)#Principal|Principal]] * [[w:Interest rate|Interest rate]] * Time ( I = P * R * T )''' ( [[w:fi:Korko]] = Pääoma * Korkoprosentti )
** Simple interest calculation '''[[w:Interest|Interest]] = [[w:Bond_(finance)#Principal|Principal]] * [[w:Interest rate|Interest rate]] * Time ( I = P * R * T )''' ( [[w:fi:Korko]] = Pääoma * Korkoprosentti )
** '''[[w:Compound interest]]''' arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called ''compounding''.
** '''[[w:Compound interest]]''' arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called ''compounding''.
=== Business Math week 4 ===
 
=== Business Math 1 - Session 2: Indices ===


* '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia )
* '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia )
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* A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions.  It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia )
* A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions.  It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia )


=== Business Math week 5 ===
=== Business Math 1 - Session 3: VAT calculations===
* '''[[w:Value added tax]] ( VAT )'''  ( [[w:fi:Arvonlisävero]] )
* '''[[w:Value added tax]] ( VAT )'''  ( [[w:fi:Arvonlisävero]] )
* The '''[[w:foreign exchange market]]''' (forex, FX, or currency market) ( [[w:fi:Valuuttamarkkinat]] ) is a form of exchange for the global decentralized trading of international currencies. ( Wikipedia )
* The '''[[w:foreign exchange market]]''' (forex, FX, or currency market) ( [[w:fi:Valuuttamarkkinat]] ) is a form of exchange for the global decentralized trading of international currencies. ( Wikipedia )
* The '''Current rate''' and the '''[[w:forward exchange rate]]''' (also referred to as '''forward rate''' or '''forward price''') is the [[W:exchange rate]] at which a [[W:commercial bank|bank]] agrees to exchange one [[w:currency]] for another at a future date when it enters into a [[w:forward contract]] with an investor. [[w:Multinational corporation]]s, banks, and other [[w:financial institution]]s enter into forward contracts to take advantage of the forward rate for '''[[w:hedge (finance)|hedging]] purposes'''. ( Wikipedia )
* The '''Current rate''' and the '''[[w:forward exchange rate]]''' (also referred to as '''forward rate''' or '''forward price''') is the [[W:exchange rate]] at which a [[W:commercial bank|bank]] agrees to exchange one [[w:currency]] for another at a future date when it enters into a [[w:forward contract]] with an investor. [[w:Multinational corporation]]s, banks, and other [[w:financial institution]]s enter into forward contracts to take advantage of the forward rate for '''[[w:hedge (finance)|hedging]] purposes'''. ( Wikipedia )


=== Business Math week 6 ===
=== Business Math 1 - Session 4: Compound interest ===
* '''[[w:Compound interest]]''' calculation arises when interest is added to the [[w:principal]], so that, from that moment on, the interest that has been added also earns [[w:interest]]. This addition of interest to the principal is called compounding. ( Wikipedia )
* '''[[w:Compound interest]]''' calculation arises when interest is added to the [[w:principal]], so that, from that moment on, the interest that has been added also earns [[w:interest]]. This addition of interest to the principal is called compounding. ( Wikipedia )



Revision as of 16:52, 23 January 2015

Business maths are mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.”

~ Wikipedia on Business mathematics


Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability. Business management can be made more effective in some cases by use of more advanced mathematics such as calculus, matrix algebra and linear programming. ( Wikipedia )

Business Math 1

Business Math 1 - Session 1: Interest calculations

  • Interest calcualations
    • Simple interest calculation Interest = Principal * Interest rate * Time ( I = P * R * T ) ( w:fi:Korko = Pääoma * Korkoprosentti )
    • w:Compound interest arises when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. This addition of interest to the principal is called compounding.

Business Math 1 - Session 2: Indices

Business Math 1 - Session 3: VAT calculations

Business Math 1 - Session 4: Compound interest

  • w:Compound interest calculation arises when interest is added to the w:principal, so that, from that moment on, the interest that has been added also earns w:interest. This addition of interest to the principal is called compounding. ( Wikipedia )
  • The time value of money is the value of money figuring in a given amount of interest earned or inflation accrued over a given amount of time. ( Wikipedia )

Business Math 2 - Business Math with Excel

Teacher: Jutta Heikkilä

Type of course: Mandatory course in GloBBA in Category:mathematics

Course code: ???

Course material: Business Mathematics: Part 2 - with Excel by Jutta Heikkilä ( Available only from the shop in Suomen Liikemiesten Kauppaopisto (SLK), ~8€ )



The term includes the w:nominal APR and the w:effective APR
  • w:Hire purchase ( w:fi:Osamaksu ) is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. ( Wikipedia )
  • w:Leasing ( w:fi:Leasing ) is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. ( Wikipedia )