BU/MS-110 Business Mathematics

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
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,” 9^th  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