Business Math
Grade level: 11-12
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Gross Income |
Hourly pay; overtime pay; weekly time cards; piecework; salary; commission; graduated commission |
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Net Income |
Federal income tax; state income tax; graduated state income tax; social security tax; group insurance; earnings statement |
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Checking Accounts |
Deposits; writing checks; check registers; bank statements; reconciling the bank statement |
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Savings Account |
Deposits; withdrawals; passbooks; account statements; simple interest; compound interest; compound interest tables; daily compounding |
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Cash Purchases |
Sales tax; total purchase price; unit pricing; finding the better buy; coupons and rebates; markdown; sale price |
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Charge Accounts and Credit Cards |
Sales receipts; account statements; finance charge methods |
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Loans |
Single-payment loans; installment loans; simple interest installment loans; allocation of monthly payment; paying off simple interest; installment loans; determining the APR; refund of finance charge |
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Automobile Transportation |
Purchasing a new automobile; dealer’s cost; purchasing a used automobile; automobile insurance; operating and maintaining an automobile; leasing an automobile; renting an automobile |
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Housing Costs |
Mortgage loans; monthly payment and total interest; closing costs; the monthly payment; real estate taxes; homeowner’s insurance; homeowner’s insurance premiums; other housing costs |
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Insurance and Investments |
Health insurance premiums; health insurance benefits; term life insurance; other types of life insurance; certificates of deposit; effective annual yield; stocks; stock dividends; selling stocks; bonds |
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Record keeping |
Average monthly expenditure; preparing a budget sheet; using a budget |
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Personnel |
Hiring new employees; administering wages and salaries; employee benefits; disability insurance; travel expenses; employee training |
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Production |
Manufacturing; break-even analysis; quality control; time studies; packaging |
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Purchasing |
Trade discounts; chain discounts; cash discounts |
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Sales |
Markup; net profit; determining selling price; markdown |
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Marketing |
Opinion surveys; sales potential; market share; sales projections; advertising costs; pricing |
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Warehousing and Distribution |
Storage space; taking an inventory; valuing an inventory; carrying an inventory; transportation |
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Services |
Building rental; maintenance and improvement; equipment rental utilities; professional services |
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Accounting |
Payroll register; business expenses; apportioning expenses; depreciation; double declining balance method; modified accelerated cost recovery system |
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Accounting Records |
Assets, liabilities, and equity; balance sheet; cost of goods sold; income statement; vertical analysis; horizontal analysis |
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Financial Management |
Corporate income taxes; issuing stocks and bonds; borrowing; investments; growth expenses |
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Corporate Planning |
Inflation; gross national product; consumer price index; budget |