In this course students will develop effective financial business concepts with emphasis on 10 key computations, banking concepts, payroll, retail computation and time value of money.

Credits

3 Credits

Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.

I. General Information

Department

Information Technology

II. Course Specification

Course Type

Program Requirement

3 Credits

15

45

N

III. Catalog Course Description

In this course students will develop effective financial business concepts with emphasis on 10 key computations, banking concepts, payroll, retail computation and time value of money.

IV. Student Learning Outcomes

Upon completion of this course, a student will be able to:

Outcome: Operate the ten key calculators using touch method. Outcome: Use of the calculator to perform basic math calculations and apply these skills to business applications.

V. Topical Outline (Course Content)

Gain proficiency on ten-key calculator. Solve business math problems using the ten-key electronic calculator. Participate in speed drills using the ten-key electronic calculator. Read and write whole numbers. Round whole numbers to indicated place value. Use rounding and estimation in problem solving. Convert fractions to decimal numbers and decimal numbers to fractions in drill work. Solve decimal word problems. Define and state the purpose of signature cards, checks, deposit slips, check stubs and registers, endorsements, and bank reconciliations. Prepare deposit slips, write checks, and complete check registers. Prepare bank reconciliation. Explain the trends in online banking and the banking industry in general. Convert fraction, decimal, or percent from one format to another as needed to solve problems. Calculate rate of percent increase and decrease. Calculate rate, base, or portion when base is whole. Calculate rate, base, or portion when base is original amount. Calculate single and trade discounts with formulas and complements. Find list price, net price, trade discount, or discount rate. Understand and apply freight and cash discount terms when calculating invoices. Complete assorted invoices used by various organizations. Calculate outstanding balance for partial payments. Calculate dollar markup, selling price, cost, and percent markup on cost and selling price. Calculate markdowns including multiple markdowns. Calculate pricing when spoilage is to be considered. Define, compare, and calculate gross pay using multiple methods practiced in industry. Calculate payroll deductions including FIT, Social Security, and Medicare. Calculate FUTA and SUTA. Calculate simple interest and maturity value for days, months, and years. Solve for principal, rate, or time using the interest formula. Complete the proper interest credits under the U.S. Rule. Calculate future and present value. Find true interest rate or effective rate. Calculate depreciation using the straight-line method Solve problems to calculate sales, property, and federal income