Retail Merchandising Math

If you paid attention in school you discovered that business mathematics involves a great many different skills: appraising and interpreting tables, charts and graphs; determining special discounts and markups; working out issues related to percentage, ratio and proportion; ascertaining unit prices, full costs, scaled expenses for receipts; budgets; funding; credit; costs examined against cash; knowing income, payroll taxes and deductions; analyzing federal income tax yearly reports; comparing different financial investment methods; knowing taxes including sales, utility, property as well as other various fees; assessments of insurance programs; awareness of costs of manufacturing, and assessing business efficiency. All of which I am sure, unless you were an accounting major, had limited appeal.

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While computers are, without question, able to do most of the basic arithmetic functions required and everything seems simple and straight forward. Just put numbers into the program and get accurate numbers out to help you manage your business responsibilities.
Accuracy is also required when putting numbers into an application. As opposed to simply trusting software, it's important you have your very own knowledge of the basic formulas and reasons for using mathematics. Such a knowledge will certainly be valuable and will stay with you for life.
One of the challenges is to find a source of specialized business math information that focuses on the practical applications required for an every day retail business and won't take your time to teach math theory or formulas you won't be needing on the sales floor. Should your career take you in those directions where advanced understand of more advanced concepts is required, those skills can be learned once the basics have been mastered.
It is important to understand that the skills required for daily retail selling operations can be efficiently managed by individuals with average-level mathematical ability. Even though you didn't pay enough attention in school to the specifics being taught, if you can manage your own finances, you are more than capable to learn retail business math.

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