Course Description:

This course is designed to strengthen students' numerical and analytical skills with practical applications in accounting, finance, and business. Students will gain confidence in solving mathematical problems, analyzing data, and understanding financial documents. The course includes foundational concepts in arithmetic, algebra, accounting principles, payroll, interest calculations, investments, and statistics—all tailored to real-world scenarios in the financial services industry.

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Course Objectives:

• To develop accuracy and confidence in performing essential business calculations.

• To enhance students’ ability to interpret and apply mathematical concepts in accounting and finance.

• To introduce foundational accounting processes including double-entry bookkeeping and balance sheet preparation.

• To provide hands-on practice with payroll, interest, investments, and statistical tools relevant to the financial sector.

• To prepare students for further studies or entry-level roles in business and financial services.

 

Course Learning Outcomes:

Upon successful completion of this course, students will be able to:

• Perform and interpret business arithmetic operations including decimals, fractions, percentages, and equations.

• Prepare and analyze basic financial statements such as income statements and balance sheets.

• Understand and apply accounting principles such as double-entry bookkeeping.

• Calculate and interpret interest, annuities, markups/markdowns, payroll, and investment returns.

• Analyze basic business statistics including mean, median, mode, and weighted average.

• Demonstrate knowledge of financial tools such as promissory notes, mutual funds, and bond investments.

• Perform bank reconciliations and understand credit and payroll systems.

 

Recommended Course Materials:

• Basic calculator (non-programmable)

• Notebook and pen/pencil for notes and practice

• Handouts or textbook on Business Mathematics and Accounting Principles (to be provided)

• Access to Microsoft Excel or other spreadsheet software (recommended)

 

Course Content:

1. Review of Basic Computational Skills

• Whole numbers: addition, subtraction, multiplication, division

• Rounding numbers

• Solving word problems

 

2. Fractions and Decimals

• Types and conversion of fractions

• Operations with fractions and decimals

• Converting between decimals and percentages

 

3. Percentages

• Percent-fraction-decimal conversions

• Calculating increases, decreases, and comparisons using percentages

 

4. Solving Simple Equations

• Solving for unknowns using algebraic methods

• Word problems involving equations

 

5. Business Statistics

• Calculating mean, median, mode, and weighted averages

 

6. Accounting Fundamentals

• Understanding the balance sheet

• Double-entry accounting system

• Introduction to final accounts

• Drawing up simple income statements and balance sheets

 

7. Banking and Credit Transactions

• Managing checking accounts and credit card transactions

• Bank reconciliation statements

 

8. Payroll Calculations

• Gross pay calculations (hourly, overtime, piecework, commission)

• Deductions (e.g., National Insurance, other statutory deductions)

 

9. Simple Interest

• Calculating interest, principal, rate, and time for loans

• Time-based interest (months and years)

 

10. Discounting Notes

• Promissory notes: interest-bearing and non-interest-bearing

• Discounting before maturity

• Effective rate of interest

 

11. Investments: Stocks, Bonds, Mutual Funds

• Types of stocks and dividends

• Bonds purchased at discount or premium

• Introduction to mutual funds

 

12. Compound Interest and Present Value

• Comparing compound vs. simple interest

• Calculating future and present values

 

13. Annuities and Sinking Funds

• Definitions and types (ordinary annuity vs. annuity due)

• Calculating future and present values (manually and using tables)

• Sinking funds and their business purpose

 

14. Markups and Markdowns

• Calculating markup based on cost or selling price

• Markdown strategies and final pricing

• Analyzing pricing scenarios for perishables and markdown series

 

Course Assessment & Evaluation:

• Class Participation and Attendance: 10%

• Midterm Examination: 30%

• Final Examination: 60%