This course offers instruction and focused practice in fundamental business mathematics. Starting with a review of basic mathematical concepts essential for commerce, the curriculum progresses systematically to cover core areas of business finance. Key topics include accurate payroll calculation, managing banking and reconciliation procedures, understanding the application of simple and compound interest, preparing basic income tax computations, and calculating costs related to various other crucial business activities.
Prerequisites
None.
1. Master fundamental mathematical operations involving whole numbers, fractions, decimals, and percentages.
2. Solve linear algebraic equations for unknown variables and verify the accuracy of the solution.
3. Reconcile a checking account statement accurately by tracking deposits, withdrawals, and bank fees.
4. Compute a complete payroll including gross earnings, required taxes (e.g., FICA), and voluntary employee deductions.
5. Determine simple and compound interest for various savings and investment scenarios.
6. Calculate the present and future value of annuities and sinking funds for long-term financial planning.
7. Analyze and calculate payments, costs, and interest associated with business and consumer loans.
8. Prepare a balance sheet and income statement using provided financial transaction data.
9. Interpret and evaluate the financial health of a business using data from the balance sheet and income statement.
10. Calculate property tax and basic personal income tax liabilities based on relevant rates and schedules.
11. Compute premiums for common fire, motor vehicle, and life insurance policies.
12. Determine the value of common stocks and corporate bonds, and analyze business statistics presented in charts and graphs.