Essay about Math And Owning A Restaraunt - 790 Words

Math is an essential asset in the business world. Without mathematics businesses wouldn’t be able to operate effectively. In order to run a restaurant math plays an important role in a lot of different areas. For instance the items on the menu may change due to the way it sells. Bookkeeping and math allow you to both figures out what items are profitable and what items are selling. The business world revolves around math, from profit and loss statements, to graphs, to taxes. Everything in business requires mathematics. Owning a restaurant is no different then any other field of business when it comes to math. The simplest things in a restaurant could not happen without math such as paying for your meal. Math is used to add up†¦show more content†¦Determining the overall cost of a dinner special and factoring in each amount of the ingredients used all goes towards the final cost of a dinner special. The main objective in owning a restaurant or any business for that mat ter is to turn profit. Math allows you to take a look at just how productive your restaurant is and what steps you need to take in order to keep it successful. Profit and Loss statements are a big part of owning a restaurant. Profit and Loss statements revolve around math too. These statements using your bookkeeping records show what times you turned profit and what times you took a loss. Using this mathematical step an owner can get ideas about what was working for them and what wasn’t. Doing your business taxes requires a lot of math. Showing your business expenses and your sales are required. A lot of restaurant owners hire bookkeepers and accountants to do the math work for them because it is such a vital part of the restaurant’s success. Math is used to figure out all your restaurant’s expenses such as,advertising, cost of goods and employees wages. A restaurant owner needs to be aware of the exchanges in money both coming in and going out. Without math it would be impossible to determine what wages the owner can afford to pay his/her employees. Wages are Wheatley-3 determined by the bookkeeping and the knowledge of how much profit is being brought into the