BUS1330 BUSINESS MATHEMATICS
3 Credit Hours
This course is open to students on the college level in either the freshman or sophomore year.
BUS1330 - Business Mathematics (3 hrs.)
This course deals with the type of mathematics used in business transactions, including managerial, secretarial, and clerical positions. Among the lessons included will be work with decimals, fractions, percentages, calculations of discounts, interest, etc.
The purpose of Business Mathematics is to provide students with basic business calculation principles necessary to enter and progress in positions in business. Skills are applicable to computations, reasoning, and problem solving actually used on the job and in their personal lives.
Business mathematics skills will be developed and improved so that the student can perform with accuracy the necessary calculations required by business and in their personal lives.
Unit Outcomes for Criterion Based Evaluation:
The following defines the minimum core content not including the final examination period. Instructors may add other content as time allows.
UNIT 1: Whole Numbers; How to Dissect and Solve Word Problems
Outcomes: Upon completion of this unit, students will understand the fundamentals of math and be able to estimate appropriate answers.
- Review fundamentals of math
- Demonstrate proficiency in addition, subtraction, multiplication, and division of whole numbers and decimals without the calculator
UNIT 2: Fractions
Outcomes: Upon completion of this unit, students will understand fractions, decimals, and conversion procedures.
- Recognize types of fractions. Convert mixed numbers to improper fractions. Convert fractions to mixed numbers. Find least common denominators for fractions
- Demonstrate proficiency in addition, subtraction, multiplication, and division of fractions and mixed numbers
UNIT 3: Decimals
Outcomes: Upon completion of this unit, the students will understand rounding decimals, conversions of fraction and decimals, add, subtract, multiply and divide decimals. Students will be able to use decimal applications in foreign currency.
- Explain the place values of whole numbers and decimals
- Round decimals
- Convert decimal fractions to decimals
- Convert proper fractions to decimals
- Convert mixed numbers to decimals and pure and mixed decimals to decimal fractions
- Add, subtract, multiply, and divide decimals
- Complete decimal applications in foreign currency
- Multiply and divide decimals by shortcut methods
UNIT 4: Banking
Outcomes: Upon completion of this unit, the students will understand the checking account, bank statement and reconciliation process.
- Understand the different types of check endorsements
- Correctly prepare deposit slips, check stubs, and write checks
- Correctly complete a check register
- Calculate monthly service charges
- Reconcile a bank statement with a checkbook
- Explain the trends in online banking
- Interpret, analyze, and solve word problems related to checkbook and bank statement balances
UNIT 5: Solving for the Unknown: A How-to Approach for Solving Equations
Outcomes: Upon completion of this unit, the students will understand the basic procedures used to solve equations and work problems for the unknown.
- Solve equations for the unknown using the mechanical steps
- Solve word problems using the blueprint aid and mechanical steps to solve for the unknown
UNIT 6: Percents and Their Applications
Outcomes: Upon completion of this unit, the students will fully understand conversions of percents, decimals, and fractions, including rounding percents. Students will be able to calculate the rate of percent decreases and increases.
- Convert decimals to percents (including rounding percents) and percents to decimals
- Convert fractions to percents and percents to fractions
- List and define the key elements of the portion formula
- Solve for one unknown of the portion formula when the other two key elements are given
- Calculate the rate of percent decreases and increases
UNIT 7: Discounts: Trade and Cash
Outcomes: Upon completion of this unit, the students will understand the difference between trade discount and cash discount.
- Calculate single trade discounts with formulas and complements
- Explain the freight terms FOB shipping point and FOB destination
- Find list price when net price and trade discount rate are known
- Calculate chain discounts with the net price equivalent rate and single equivalent discount rate
- List and explain typical discount periods and credit periods that a business may offer
- Calculate outstanding balance for partial payments
- Calculate turnover of inventory
- Interpret, analyze, and solve word problems related to business situations
UNIT 8: Markups and Markdowns
Outcomes: Upon completion of this unit, the students will be able to understand markup based on cost and selling price as well as markdowns.
- Calculate dollar markup and percent markup on cost
- Calculate selling price when you know the cost and percent markup on cost
- Calculate cost when dollar markup and percent markup on cost are known
- Calculate cost when you know the selling price and percent markup on cost
- Calculate dollar markup and percent markup on selling price
- Calculate selling price when dollar markup and percent markup on selling price are known
- Calculate selling price when cost and percent markup on selling price are known
- Calculate cost when selling price and percent markup on selling price are known
- Convert from percent markup on cost to percent markup on selling price and vice versa
- Calculate markdowns; compare markdown and markups
UNIT 9: Payroll
Outcomes: Upon completion of this unit, the students will be able to calculate various types of employees’ gross pay and compute the payroll deductions for the employees’ pay and employers’ responsibilities.
- Define, compare, and contract weekly, biweekly, semimonthly, and monthly pay periods
- Calculate gross pay with overtime based on time
- Calculate gross pay for piecework, differential pay schedule, straight commission with draw, variable commission scale, and salary plus commission
- Prepare and explain the parts of a payroll register
- Explain and calculate federal and state unemployment taxes
UNIT 10: Simple Interest
Outcomes: Upon completion of this unit, the students will be able to calculate simple interest and maturity value and understand the U.S. Rule - making partial note payments before due date.
- Calculate simple interest and maturity value for months and years
- Calculate simple interest and maturity value by (a) exact interest and (b) ordinary interest
- Use the interest formula; calculate the unknown when the other (principal, rate, or time) is given
- List the steps to complete the U.S. Rule
- Complete the proper interest credits under the U.S. Rule
UNIT 11: Promissory Notes, Simple Discount Notes, and the Discount Process
Outcomes: Upon completion of this unit, the students will understand the structure of promissory notes; the simple discount note, and how to discount an interest-bearing note before maturity.
- Differentiate between interest-bearing and noninterest-bearing notes
- Calculate bank discount and proceeds for simple discount notes
- Calculate and compare the interest, maturity value, proceeds, and effective rate of simple interest note with a simple discount note
- Explain and calculate the effective rate for a Treasury bill
- Calculate the maturity value, bank discount, and proceeds of discounting an interest-bearing note before maturity
- Identify and complete the four steps of the discounting process
UNIT 12: Compound Interest and Present Value
Outcomes: Upon completion of this unit, the students will have an understanding of compound interest for future value and the present value.
- Compare simple interest with compound interest
- Calculate the compound amount and interest manually and by table lookup
- Explain and compute the effective rate (APY)
- Compare present value (PV) with compound interest(FV)
- Compute present value by table lookup
- Check the present value answer by compounding
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Students should adhere to the attendance policy outlined by the instructor in the course syllabus.
The grading policy will be outlined by the instructor in the course syllabus.
Maximum class size:
Based on classroom occupancy
The U.S. Department of Education, Higher Learning Commission, and the Kansas Board of Regents define 1credit hour and have specific regulations that the college must follow when developing, teaching, and assessing the educational aspects of the college. A credit hour is an amount of work represented in intended learning outcomes and verified by evidence of student achievement that is an institutionally-established equivalency that reasonably approximates not less than one hour of classroom or direct faculty instruction and a minimum of two hours of out-of-class student work for approximately fifteen weeks for one semester hour of credit or an equivalent amount of work over a different amount of time. The number of semester hours of credit allowed for each distance education or blended hybrid courses shall be assigned by the college based on the amount of time needed to achieve the same course outcomes in a purely face-to-face format.
Refer to the following policies:
402.00 Academic Code of Conduct
263.00 Student Appeal of Course Grades
403.00 Student Code of Conduct
Disability Services Program:
Cowley College, in recognition of state and federal laws, will accommodate a student with a documented disability. If a student has a disability which may impact work in this class which requires accommodations, contact the Disability Services Coordinator.