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Course Description:
This course emphasizes performance of common computations found in the various functional areas of business. Students will use graphs, equations, ratio and proportion, percentage, and measurement systems to solve typical business problems such as the calculation of trade and cash discounts, markups, taxes, employee compensation, simple and compound interest, depreciation, inventory valuation, bonds and stocks, basic financial statement analysis, and business statistics.
A. PROGRAM LEARNING OUTCOMES (PLOs):
The student will be able to:
1. Demonstrate basic knowledge of each of the functional areas of business – accounting, management, marketing, economics, and finance – by emphasizing their importance in an organization and describing their interrelationship in the organization’s attempt to achieve its objectives;
2. Demonstrate basic knowledge and skill in the use of cost and managerial accounting concepts and techniques as management tools for planning, controlling, evaluating performance and making decisions;
3. Demonstrate basic knowledge and skill in business mathematics and elementary statistics by accurately performing common business computations, statistical data presentation and analysis; and
4. Demonstrate basic knowledge and skill in intercultural writing and speaking appropriate for business.
5. Demonstrate a basic understanding of the legal environment and ethical challenges confronting business in general and in the FSM, from both local and global perspectives.
B. STUDENT LEARNING OUTCOMES (SLOs) – GENERAL:
The student will be able to:
1. Demonstrate understanding of basic mathematics concepts;
2. Demonstrate basic skills in business applications;
3. Demonstrate basic skills in business retailing; and
4. Demonstrate basic skills in business finance and accounting.
SLO |
PLO1 |
PLO2 |
PLO3 |
PLO4 |
PLO5 |
1 |
IDM |
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2 |
I |
IDM |
|||
3 |
I |
ID |
|||
4 |
I |
ID |
I = Introduced
D = Demonstrated
M = Mastered
C. STUDENT LEARNING OUTCOMES (SLOs) – SPECIFIC:
The student will be able to:
General SLO 1. Demonstrate understanding of basic mathematics concepts.
Student Learning Outcomes |
Assessment Strategies |
1.1 Apply basic operations of fractions |
Classwork, Groupwork, Homework,Test |
1.2 Use equations and formulas in solving mathematics problems |
|
1.3 Use the concepts of percent in various business problems |
|
1.4 Analyze statistical problems using frequency distribution, graphs, mean, median, mode, and standard deviation |
General SLO 2. Demonstrate basic skills in business applications.
Student Learning Outcomes |
Assessment Strategies |
2.1 Complete all documents relating to checking accounts and check registers including merchant credit card transactions and successfully reconcile a checkbook and balance bank statement; |
Classwork, Groupwork, Homework,Test |
2.2 Prepare all components of a payroll and identify and describe the various types of earnings and deductions; |
|
2.3 Explain and calculate sales, excise, property and personal income taxes; |
|
2.4 Solve the net pay when given gross wages, taxes, and other deductions. |
|
2.5 Solve FSM gross revenue tax and payroll taxes. |
General SLO 3. Demonstrate basic skills in business retailing.
Student Learning Outcomes |
Assessment Strategies |
3.1 Apply percentages to solve retail and wholesale sales problems including discounts, markup and markdown and identify the differences among these transactions; |
Classwork, Groupwork, Homework,Test |
3.2 Determine ending inventory using various valuation methods. |
General SLO 4. Demonstrate basic skills in business finance and accounting
Student Learning Outcomes |
Assessment Strategies |
4.1 Use various formulas for interest to solve problems involving simple and compound interest, and notes and bank discounts; |
Classwork, Groupwork, Homework,Test |
4.2 Solve problems involving annuities, stocks and bonds; |
|
4.3 Analyze and interpret a balance sheet and basic financial statement. |
D. COURSE CONTENT
1. Basic Mathematics.
Operations with Fractions
Equations and Formulas
Percent
2. Basic Business Applications
Banking Services
Payroll
Taxes
Statistics
3. Mathematics of Merchandising
Mathematics of Buying
Mark up
Markdown and Inventory Control
4. Mathematics of Finance
Simple Interest
Notes and Bank Discount
Compound Interest
Annuities, Stocks and Bonds
5. Accounting and Other Applications
Financial Statements and Ratios
E. METHODS OF INSTRUCTION
Lecture, case studies, individual and group assignments
F. REQUIRED TEXT(S) AND COURSE MATERIALS
Salzman, Stanley A – Pearson “Mathematics for Business,” 9th Ed., 2011. USA,
Addison-Wesley Educational Publishers, Inc. (or most recent edition).
Prescribed textbook
Personal pocket calculator
G. REFERENCE MATERIALS
Handouts of FSM Payroll Tax Laws and Tax Rates
Handouts of FSM Gross Revenue Tax Laws and Tax Rates
H. INSTRUCTIONAL COSTS
None
I. EVALUATION
None
J. CREDIT BY EXAMINATION
None
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P. O. Box 159, Kolonia, Pohnpei, 96941 - (691) 320-2480
College of Micronesia-FSM is accredited by the Accrediting Commission for Community and Junior Colleges,
Western Association of Schools and Colleges, 10 Commercial Bldv., Suite 204, Novato, CA 94949, (415) 506-0234,
an institutional accrediting body recognized by the Council for Higher Education Accreditation and the U.S. Department of Education.
Additional information about accreditation, including the filing of complaints against member institutions, can be found at: www.accjc.org