👉 Management math, often referred to as management accounting or financial management, involves applying mathematical principles and statistical methods to support business decision-making. It focuses on analyzing financial data to assess performance, forecast future trends, and optimize resource allocation. Key concepts include variance analysis, which compares actual results to budgeted or standard figures to identify discrepancies; ratio analysis, which uses financial ratios to evaluate liquidity, profitability, and efficiency; and cost-volume-profit (CVP) analysis, which examines the relationship between costs, volume, and profit. These tools help managers make informed decisions, improve operational efficiency, and drive strategic growth by providing quantitative insights into business operations.
