BA 150 - Mathematical Applications in Business
Description
In this course students evaluate between alternative approaches using different data sets for simple interest, compound interest, annuities, markups, markdowns, breakeven analysis, payroll alternatives, bank reconciliations, inventory cost flows, depreciation methods, and analysis of financial statements. Mathematical operations used to solve practical business and finance application problems are covered.
Credit Hours: 4
Contact Hours: 4
School: School of Business & Industry
Department: Business
Discipline: BA
Major Course Revisions: N/A
Last Revision Date Effective: 20230216T17:57:50
Course Review & Revision Year: 2027-2028
Course Type:
Elective- Offering designed to expand learning opportunities for degree seeking students. May or may not be required for students in a specific GRCC program.
Course Format:
Lecture - 1:1
General Education Requirement: None
General Education Learner Outcomes (GELO):
NA
Course Learning Outcomes:
1. Separate relevant data and properly categorize it in a bank reconciliation.
2. Calculate the amount due on an invoice given the terms of payments and/or trade discounts.
3. Calculate the markup or markdown of merchandise based on cost and selling price.
4. Differentiate between salary, hourly, piece rate, commission and hybrid payroll systems and calculate the impact on payroll calculations.
5. Calculate the present value or future value, interest rate, term and/or interest amounts for single payments or annuities.
6. Differentiate between borrowing/lending options, recommending an appropriate option for the given data.
7. Differentiate between sinking fund options, recommending an appropriate option for the given data.
8. Calculate and evaluate the impact on income of Straight-line, Sum-of-the-years digits, Declining-balance and/or MACRS depreciation methods.
9. Evaluate costs and benefits for different types of insurance.
10. Use ratio analysis to evaluate financial statements.
11. Develop a plan to implement a solution to a problem or issue.
12. Complete work accurately, with attention to detail.
Approved for Online Delivery?: Yes
Course Outline:
I. Banking
A. Record banking transaction
B. Bank reconciliation
II. Percentage in business
A. Base, rate, and portion
B. Cash and trade discounts
C. Markup and markdown
III. Payroll
A. Calculating gross pay and net pay
B. Deduction
IV. Finance charges
A. Simple interest
B. Promissory notes
C. Simple discount notes
D. Installment buying
V. Compound interest
A. Compound interest
B. Present values
C. Annuities
VI. Home ownership
A. Mortgages
B. Amortization
VII. Depreciation
A. Methods, straight-line, sum-of-the-years, double-declining, and MACRS
VIII. Taxes
A. Sale and excise
B. Property
IX. Insurance
A. Life
B. Fire
C. Auto
X. Financial statement analysis
A. Use of financial ratios
B. Common-size financial statements
C. Trend analysis
Mandatory CLO Competency Assessment Measures:
None
Name of Industry Recognize Credentials: None
Instructional Strategies:
Lecture/Demonstration: 30-70%Guided Application: 30-70%
Mandatory Course Components:
None
Academic Program Prerequisite: None
Prerequisites/Other Requirements: None
English Prerequisite(s): None
Math Prerequisite(s): None
Course Corerequisite(s): None
Course-Specific Placement Test: None
Course Aligned with IRW: N/A
Consent to Enroll in Course: No Department Consent Required
Total Lecture Hours Per Week: 4
Faculty Credential Requirements:
Master’s Degree (GRCC general requirement), Other (list below)
Faculty Credential Requirement Details: Standard requirements for the Business Department apply.
GRCC employs competent faculty members qualified to accomplish the mission and goals of the institution. When determining acceptable qualifications of its faculty, and in compliance with Higher Learning Commission standard 3.c.2, GRCC gives primary consideration to those applicants with an earned Master’s degree or higher in a discipline related field. GRCC also considers professional experiences, professional licensure and certifications, related work experiences in the field and contributions to the teaching discipline.
Those faculty who do not possess the minimum educational requirement of a Master’s degree, either possess required licensure or certification, and/or related work experience (a minimum of 4,000 hours).
Maximum Course Enrollment: 28
Equivalent Courses: None
Dual Enrollment Allowed?: Yes
Number of Times Course can be taken for credit: 1
Programs Where This Courses is a Requirement:
Business Administration, A.B., Supply Chain Operations Management Certificate
People Soft Course ID Number: 100009
Course CIP Code: 52.9999
High School Articulation Agreements exist?: No
If yes, with which high schools?: NA
Non-Credit GRCC Agreement exist?: No
If yes, with which Departments?: NA
Corporate Articulation Agreement exist?: No
If yes, with which Companies?: NA
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