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
Prerequisites/Other Requirements: None
English Prerequisite(s): None
Math Prerequisite(s): None
Course Corequisite(s): None
Academic Program Prerequisite: None
Consent to Enroll in Course: No Department Consent Required
Dual Enrollment Allowed?: Yes
Number of Times Course can be taken for credit: 1
Programs Where This Course is a Requirement:
Business Administration, A.B., Supply Chain Operations Management Certificate

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.
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

Approved for Online and Hybrid Delivery?:
Yes
Instructional Strategies:
Lecture/Demonstration: 30-70%

Guided Application: 30-70%
Mandatory Course Components:
None
Equivalent Courses:
None

Accepted GRCC Advanced Placement (AP) Exam Credit: None
AP Min. Score: NA
Name of Industry Recognize Credentials: None

Course prepares students to seek the following external certification:
No
Course-Specific Placement Test: None
Course Aligned with ARW/IRW Pairing: N/A

Mandatory Department Assessment Measures:
None

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
Total Lecture Hours Per Week: 4
People Soft Course ID Number: 100009
Course CIP Code: 52.9999
Maximum Course Enrollment: 28
High School Articulation Agreements exist?: No
If yes, with which high schools?: NA
Non-Credit GRCC Articulation Agreement With What Area: No
Identify the Non Credit Programs this Course is Accepted: NA

School: School of Business & Industry
Department: Business
Discipline: BA
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).

Major Course Revisions: N/A
Last Revision Date Effective: 20230216T17:57:50
Course Review & Revision Year: 2027-2028