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BUSINESS MATH 1A

UNIT

SECTIONS

OBJECTIVES

Whole Numbers

  • Writing Whole Numbers
  • Adding Whole Numbers
  • Subtracting Whole Numbers
  • Multiplying Whole Numbers
  • Dividing Whole Numbers
  • Write whole numbers in both numerical form and word form
  • Add, subtract, multiply, and divide whole numbers
  • Use these operations to solve business problems 
  • Write whole numbers in both numerical form and word form
  • Add, subtract, multiply, and divide whole numbers
  • Use these operations to solve business problems

Fractions

  • Renaming Fractions
  • Multiplication of Fractions
  • Division of Fractions
  • Addition and Subtraction of Fractions
  • Write fractions as mixed numbers and improper fractions
  • Reduce a fraction to lowest terms and raise a fraction to higher terms
  • Multiply fractions
  • Divide fractions
  • Add and subtract fractions

Decimal Numbers

  • Adding and Subtracting Decimals
  • Multiplying and Dividing Decimals
  • Converting Decimal Numbers and Fractions
  • Add and subtract decimal numbers
  • Multiply and divide decimal numbers
  • Convert decimal numbers to fractions and fractions to decimal numbers

Percent

  • Converting To and From Percent
  • Solving Percent Problems
  • Write fractions and decimal numbers as percents and change percents to decimal and fraction form
  • Solve problems involving percents

Bank Records

  • Setting Up and Using A Checking Account
  • Reconciling Checking Accounts
  • Set up and use a checking account
  • Reconcile your checking account records with those of your bank

Payroll

  • Paying Salaried and Hourly Employees
  • Determining Piecework and Commission Pay
  • Federal Income Tax, FICA, and Federal Unemployment Tax
  • Calculate salary and hourly wages
  • Use salary, hourly wages, piecework, differential piecework, straight commission, sliding scale commission, and salary plus commission to calculate payroll
  • Determine employees’ federal income tax and FICA withholding

The Mathematics of Buying

  • Taking Advantage of Trade Discounts
  • Using Cash Discounts
  • Calculate discount rates, including single and chain discounts
  • Determine the best times to pay bills with different cash discount dates

The Mathematics of Selling

  • Calculating Markup Based on Cost
  • Calculating Markup Based on Selling Price
  • Setting Markdowns
  • Determine the markup on a product based on its cost
  • Calculate the markup on a product based on its selling price
  • Find the markdown and markdown rate on goods

Simple Interest

  • Calculating Time
  • Calculating Simple Interest
  • Solving for Principal, Interest Rate, and Time
  • Calculate the number of days between two dates using exact time and ordinary or 30-day-month time
  • Calculate simple interest using the following methods:
    • Exact interest
    • Approximate or ordinary interest at ordinary or 30-day-month time
  • Solve a simple interest problem for principal, interest rate, or time

Bank Discount Loans

  • Promissory Notes and Bank Discount on Non-Interest-Bearing Notes
  • Bank Discount of an Interest-Bearing Note
  • Calculate the net proceeds and bank discount of a non-interest-bearing promissory note using exact, ordinary interest at ordinary or 30-day-month time, and banker’s interest
  • Determine the bank discount and net proceeds of an interest-bearing note using ordinary interest at ordinary or 30-day-month time and banker’s interest

More Complex Loans

  • Using Installment Loans
  • Working with the Rule of 78
  • Using Open-End Credit
  • Determine the finance charges and annual percentage rate on an installment loan
  • Find the sum of the digits of a number of payments and apply the Rule of 78 for early loan payoffs
  • Determine interest and balances on credit card accounts with different interest payment terms

BUSINESS MATH 1B

UNIT

SECTIONS

OBJECTIVES

Compound Interest and Present Value

  • Compound Interest
  • Present Value
  • Determine compound interest, maturity values under compound interest, and effective rates under compound interest
  • Find the present value of a current investment 

Investments

  • Annuities:  Due and Ordinary
  • Sinking Funds
  • Stocks and Bonds
  • Determine the value of ordinary and due annuities
  • Calculate the payments necessary to establish a sinking fund
  • Find the yield of stocks and bonds

Real Estate Mathematics

  • Mortgage Payments and Points
  • Amortization
  • Determine mortgage payments and points
  • Calculate the principal and interest portions of a mortgage payment and generate an amortization schedule
  • Calculate the assessed value and property tax

Inventory and Overhead

  • Inventory Valuation
  • Retail Method and Overhead
  • Calculate inventory values using the specific identification, average cost, FIFO, and LIFO methods
  • Determine inventory values using the retail method and allocate overhead by sales volume and floor space

Depreciation

  • Straight-Line and Units-of-Production Methods
  • Declining-Balance and Sum-of-the-Years’
  • Digits Methods
  • The MACRS Method of Depreciaion
  • Construct a depreciation schedule using the straight-line and units-of-production methods
  • Develop a depreciation schedule using the declining-balance and sum-of-the-years’-digits methods
  • Use the MACRS depreciation methods

Insurance

  • Fire Insurance
  • Motor Vehicle Insurance
  • Life Insurance
  • Calculate premiums, prorations, and coinsurance payouts for fire insurance
  • Find premiums and payouts on liability, collision, comprehensive, and medical payments for motor vehicle insurance policies
  • Determine premiums and surrender options on various forms of life insurance policies

Financial Statement Analysis

  • Balance Sheets
  • Income Statements
  • Financial Ratio Analysis
  • Complete a horizontal and vertical analysis of two successive  balance sheets
  • Perform a horizontal and vertical analysis of two successful income statements
  • Calculate current ratio, acid-test ratio, return on equity, and inventory turnover

Statistics and Graphs

  • Business Statistics
  • Business Graphs
  • Calculate the mean, median, mode, and range for a set of data
  • Interpret tables of numerical data
  • Read and plot bar graphs, line graphs, and pie charts