Accounting is math

Essay by onetenUniversity, Bachelor's July 2006

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I believe that both math and accounting knowledge is strictly necessary in our everyday lives. The knowledge we gain by taking these courses gives us the sense of understanding over the financial transactions we make in our life. We use math and accounting in a variety of situations. These include transactions we make by money and credit cards. Also, we use math and accounting to analyze situations when we drive, talk, and play. Comparing these two courses, we see a lot of similarities. Accounting is the formal way of doing math. We do math to calculate transactions that deal with numbers. Accounting is the way we analyze and set up those numbers so that we can see a balance between transactions. Using basic mathematical procedures, adding, subtracting, multiplying, and dividing let's us set the accounting principles. So in life, math is needed to balance budgets in accounting. When we look at a credit card statement, we see group of numbers that are added, divided, subtracted and multiplied.

So, math is used to calculate our payment needed and accounting is used to balance our due or statement. By using math, the products or services we charge are added together to calculate the money we owe. Then by using accounting, the payment we make is analyzed and entered to their accounting statements, therefore they could analyze our situation at that time. Another instance that we use math and accounting is shopping. When we purchase products such as bread, yogurt, and onions at a supermarket, we get a receipt that summarizes what we buy and what we pay. The receipt is organized to do math by adding the prices of the products. Again math is used to calculate money entered into the cash register. And at the end of the cycle, the...