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BUS 110 Business Mathematics

Section Number 50743

Catalog Description:

Theory and practical application to business situations of computing trade and cash discounts, commissions, payrolls, property taxes, interest, bank discount, compound interest, present value, annuities, sinking funds, insurance, consumer credit, and depreciation. CSU Closed Captioned

Instructor:

D. Kearnaghan

Class Orientation:

6-9:20 pm
Mondays, June 23, 30; July 7, 14, 21, 28
Room B-2

Broadcast Days and Times:

Times & days for Cox Cable North – Channel 16 and Time Warner Cable CH 16
Monday 5:00 am – 7:30 am; or Monday – Friday 11:30 pm - Midnight

Viewing Options

If this course does not air in your area or you don’t have cable you have two options. The first option is you can check out video tapes from the Learning Resource Center on the San Marcos Main Campus Library or the Escondido, Ramona or Mt Carmel Education centers. The second option is watching the lessons online. All of our classes are video streamed and available for viewing on the course’s Blackboard website (see below about Blackboard log in instructions).

Class Outline

Course materials are available the Friday prior to when classes begin. Access your course outline, assignments, handouts and announcements, as well as view video lessons in Blackboard. Log in Blackboard instructions:

USERNAME: STUDENT ID Number
PASSWORD: Palomar eServices Password

To log in go to: http://www.palomar.edu/pconline/

Textbook and Other Required Materials:

Slater, Practical Business Math, 8th edition AND homework manager (online access code)

Video Series Entitled:

By the Numbers

Video Lesson Descriptions:

By The Numbers is an innovative business mathematics telecourse. Its subtitle, Practical Applications of Business Mathematics, reflects the basic premise of the course: that students learn best when the object of their study is related directly to their out-of-school lives. The resulting product is not pencil and paper mathematics; it is the math that students encounter in their professional and personal lives. The content evolves from mathematical foundations, to basic business concepts and then incorporates mathematics of retailing, mathematics of finance, business accounting concepts, and communication with numbers. These concepts are interwoven with practical applications: constructing a building, investing money, setting prices of products.

By The Numbers is part of the Business Connection-a series of television-based courses designed to enhance a student's career potential in business. The first phase of the Business Connection consists of courses in business law (Business and the Law, 1989); business math (By the Numbers, 1990); entrepreneurship (Something Ventured, 1991); principles of selling (The Sales Connection, 1992); and, principles of management (Taking the Lead, 1993).

Program Descriptions:

1) Mathematics in the Business World
An introduction to the world of business math and the rationale for studying the subject.

2) Fractions, Decimals, and Percents
Fractions and mixed numbers, basics of decimals, the conversion of decimals to fractions, the conversion of decimals to percents, and working with the percent formula.

3) Equations and Formulas
An introduction to simple algebra including reading and manipulating formulas, solving for an unknown, ratios and proportions, basics of equations, and understanding and solving work problems.

4) Banking Services
Services of modern banks and savings institutions including an introduction to checking accounts, check registers, credit card transactions and the importance of reconciling a bank statement.

5) Gross Earnings
This lesson stresses the importance of payroll records. Included are methods for calculating gross earnings for hourly and salaried employees, calculating overtime earnings, shift-differential and split-shift premiums. This lesson also covers commission and piecework pay.

6) Social Security and Withholding
Expands discussion of payroll as a critical component of a business' record keeping system. It outlines the process for calculating payroll deductions, including FICA and income tax withholding. Discussions cover how FICA and tax rates are set, how to read and use W-4 forms, how to use tables to determining federal income tax withholding, how to calculate final not pay following all deductions, and how to file payroll records and returns.

7) Sales and Property Taxes
Introduces the concept of taxation. The lesson covers methods used to determine sales tax and procedures for manually calculating the amount of sales tax given the selling price and tax rate. Excise and property taxes are also covered.

8) Income Taxes
In the context of personal income tax, the lesson covers the steps in determining tax liability, the relationship between tax liability and income, and the factors that affect adjusted gross income. Students learn how to estimate potential deductions, determine the balance due to or refund from the IRS, and how to read tax tables.

9) Business Insurance
Emphasizes the need for each business to find a way to protect itself against loss. Discussions cover the methods for determining rates and property values and for evaluating insurance liability when there are multiple carriers.

10) Personal Insurance
Motor vehicle insurance and life insurance are discussed in this program. Factors affecting cost of motor vehicle insurance; liability coverage, property damage coverage, comprehensive, collision coverage, no-fault insurance and problems with uninsured motorist coverage are addressed. The life insurance section of the program presents procedures for determining annual premiums for life insurance policies, calculating net cost, reading tables, and evaluating settlement options.

11) The Business Discount
This lesson deals with business transactions. Key topics include reading and using invoices, using common invoice abbreviations, the basics of trade and series discounts, using series discounts to determine list price, and using cash discounts to build business.

12) Pricing Products and Services
The program presents basic formulas for calculating mark-up, markdown and cost, and shows how to apply the concept of percent to markup and markdown problems. Discussions cover the impact of overhead on profit, the difference between cost and selling price as a basis for determining markup, calculating the selling price of perishable goods, and knowing how and when to discount goods and services.

13) Inventory Control
This lesson covers inventory control and procedures for calculating and using inventory turnover, distinguishing between perpetual and periodic inventory, using LIFO and FIFO methods to value inventory, product code concepts, and estimating inventory.

14) Simple Interest
Key topics are the basics of simple interest including formulas, concepts of rate, principal and time, and present and maturity value.

15) Notes and Bank Discounts
Promissory note due dates, face values, and rates are discussed as well as bank discount notes, simple interest, simple discount, and the concept of lending the institutions.

16) Compound Interest
Procedures for compounding interest, the importance of the compounding period are discussed in this program. Also, an introduction to the basics of savings accounts and time deposit accounts, with particular attention to continuos compounding of interest.

17) Credit Purchases
Addresses credit in U.S. retailing. Key topics include procedures for calculating the amount due, open-end credit, revolving charge financing, calculating installment buying, calculating the APR, down payments and total financing, calculating installment costs, the Rule of 78s, and determining unearned interest.

18) Annuities, Sinking Funds, and Amortization
This program defines and discusses the concepts of annuities including advantages, purposes, formulas, and present value. Also covered are the basics of sinking funds, and the concepts of amortization including relationship with principal and interest.

19) Depreciating Business Assets
Key topics are useful life, salvage value, book value, straight-line, declining-balance, units of production, and sum-of-the-year's-digits method for calculating depreciation.

20) Allocating Costs and Profits
Demonstrates the mathematics used to determine the profitability of a product or service by proper allocation of overhead costs.

21) Financial Statements
Key topics include formatting, terminology, reading, interpreting, and using the balance sheet and income statement.

22) Cash Flow and Financial Ratios
Discussions include the short- comings of the balance sheet and income statement; the effects of interest expense, taxes, and depreciation on cash flow. Students learn to calculate such specific financial ratios as the current, debt-to-equity, acid-test, and return on investment ratios to determine the health of a business.

23) Funding the Business with Stocks and Bonds
This program covers corporate debt and equity compared with sole-proprietorships and partnerships. How assets, profits, and responsibility for debt are determined and distributed. Preferred and common stock -- its issuance, distributions of dividends, profits, earnings per share and reading of the stock tables are covered as well as bonds, mergers, and takeovers.

24) Statistics in the Business World
This program emphasizes the business use of statistics. Special attention is given to the use of business-related statistics such as prime rate, money supply, trade deficit and the consumer price index.

25) Communicating with Graphs and Charts
This program covers the basics of graphic layout and stresses the educational and persuasive power of an effective visual message. Students will learn to plot bar, line, pie and scatter graphs.

26) The Future of Business Mathematics
The closing lesson explores the future of business math with an overview of the use of calculators and computers in business management, decision making and forecasting, while focusing on the ever-changing needs of the business person.