A set is where math begins. You’ll run into sets all the time when learning about functions, linear algebra, and plenty of other topics. A set is simply a collection of distinct objects. These objects, called elements, can be anything:…
When we study mathematics, we encounter various number systems. Instead of going into rigorous definitions, let’s just briefly explore them. Natural Numbers Natural numbers (\(\mathbb{N}\)) are the numbers we use for counting and ordering. They start from 1 and go…
Why Use Functions in Business? Functions are a way to translate real-world situations into mathematical language. But why do we do this? One important reason is to solve real-world problems. Take a small business as an example. Suppose you’re trying…
As a business professional, you rely on a wide range of mathematical tools, but none are arguably more frequently used than linear algebra and statistics. This is the first post in a series where we’ll explore how linear algebra provides…
When studying linear algebra, we are continuously faced with the word field. In most cases, we use the set of real numbers, which is an example of a field. But what is a field? A field is a set that…
Financial accounting can sound intimidating—a world of complex spreadsheets, regulations, and reports. But at its core, it’s something far simpler and more powerful: the language of business. Just as learning a new language opens up new cultures and opportunities, understanding…
At its core, the accounting equation forms the foundation of all business accounting. In practice, accountants record every financial activity according to this principle and then summarize these activities in four essential financial reports: the Balance Sheet, Income Statement, Statement…
In our previous post, we explored the accounting equation and the four main financial statements, including their core parts and how they relate. Today, we’ll examine a real company’s financial statements—Microsoft’s—to see these relationships in action. Where to Find the…
Building on our previous exploration of the Balance Sheet, this section will now focus on the Statement of Cash Flows and its connection to the diagram above. In essence, the Statement of Cash Flows explains the change in the Cash…
To understand a company’s financial story, look at the Statement of Equity. While most people focus on the Income Statement and Balance Sheet, this statement bridges the two, showing you how a company’s ownership structure has changed over time. At…