BUS 111 - Business Math

Credits: 5
Variable Credit Course: No

Lecture Hours: 55
Lab Hours: 0
Worksite/Clinical Hours: 0
Other Hours (LIA/Internships): 0

Course Description: For non-STEM majors and Highschool Completion Equivalency. Applied mathematics in daily business experiences. Basic mathematics (whole numbers, decimals, fractions, percents, ratios, equations and formulas) applied to business cases. Additional mathematical applications as they relate to banking, payroll, purchasing, selling, interest, inflation, loans, taxes, insurance, depreciation, financial statements, ratios, the Metric System, and business statistics. Practical mathematical problem solving techniques explored through presentations, discussion, and practice. This course is non-transferable and for professional/technical students only.

Prerequisite: MATH 096 with a C or higher, or equivalent, or Math placement score, or instructor permission.
Strongly Recommended: Basic Arithmetic skills including decimals and percentages.
Distribution Requirements:

Quantitative

Meets FQE Requirement: No
Elective Requirements: Fulfills Gray Area Electives
Integrative Experience Requirement: No

Student Learning Outcomes

Apply arithmetic operations with whole numbers, decimals, fractions, percentages, and formulas to solve business problems.
Reconcile banking transactions.
Analyze and evaluate credit and loan options based on cost and terms.
Calculate payroll, taxes, and insurance using appropriate mathematical methods and regulatory guidelines.
Compute costs, profits, and losses associated with buying and selling, including trade discounts, invoice terms, markups, markdowns, and inventory valuation.
Solve business and consumer finance problems involving simple and compound interest, present and future value, and the effects of inflation.
Determine depreciation using multiple methods and assess its impact on financial statements and planning.
Interpret and analyze financial statements and performance ratios to evaluate business profitability and efficiency.
Apply descriptive statistics to summarize business data and support decision-making in real-world scenarios.

Course Contents

Optional Review Topics including: Addition, subtraction, multiplication and division of whole numbers, decimals, fractions, and mixed numbers; Converting decimals to fractions and fractions to decimals; Percent and percentages; Writing decimals and fractions as percentages; Finding part, base, and rate; Increase and decrease problems; Equations and formulas; Solving equations and applications of equations; Business formulas; Ratio and proportion; and the Metric System.
Mathematics of Banking. Electronic banking, checking accounts, and check registers. Checking services and credit card transactions. Bank statement reconciliation.
Mathematics of Payroll. Computing gross earnings: wages and salaries. Gross earnings: piecework and commissions. Computing Social Security, Medicare and other taxes. Income tax withholding.
Mathematics of Buying. Invoices and trade discounts; series discounts and single discount equivalents. Cash discounts: ordinary dating method. Cash discounts: other dating methods.
Mathematics of Selling. Markup on cost and markup on selling price. Markdown. Turnover and valuation of inventory.
Simple Interest. Finding principle, rate, and time. Simple discount notes. Discounting a note before maturity.
Compound Interest and Inflation. Compound interest. Interest-bearing bank accounts and inflation. Present value and future value.
Mathematics of Taxes and Insurance. Property tax and personal income tax.
Mathematics of Depreciation. Straight-line method.
Mathematics of Financial Statements and Ratios. The income statement and analyzing the income statement. The balance sheet and analyzing the balance sheet.
Business Statistics. Frequency distributions and graphs. Mean, median, and mode.

Instructional Units: 5