This course covers application of mathematic functions to the solution of business problems. This course emphasizes practical hands on approaches to prepare students for careers in business with a focus on real-world application. Developing math competency in business applications of interest, financial statement analysis, discounts, merchandise inventory, inventory pricing, credit financing, fixed asset costs, future and present value, operation ratios, corporate stocks, government and corporate bonds. Applied Business Mathematics prepares students for the math requirement of future business courses and business careers.
Student Learning Outcomes
- Solve business mathematical functions using a 10-key calculator.
- Identify and calculate the base, rate and percentage of business transactions.
- Use percents to measure increase and decrease in financial data and to allocate overhead expenses.
- Determine the proper amount to pay on invoices utilizing cash, series and trade discounts.
- Demonstrate pricing procedures related to markup based on cost or selling price.
- Calculate the correct value of ending inventory and cost of goods sold based on FIFO, LIFO and Average costing methods.
- Estimate ending inventory using the cost of goods sold.
- Analyze the effect of Fixed Assets on the financial statements using various depreciation methods.
- Calculate and understand the impact of simple and compound interest on business transactions.
- Determine interest earned and deposits required for business investments using future and present value concepts.
- Understand the financial impact of various installment purchase decisions.
- Analyze balance sheets and income statements, comparing items and periods and operating ratios.
- Compute the costs and proceeds of stock transactions along with comparative earning potential.
Please see eServices for section availability and current pre-req/test score requirements for this course.