## BUSINESS EDUCATIONEDUCATION FOR LIFE – Agawam Public Schools – Home

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```BUSINESS EDUCATION--EDUCATION FOR LIFE

Course Description

The study of business mathematics is a practical approach to learning mathematics.
Basic skills that will be useful throughout life will be taught. Solving mathematical
problems, analyzing and interpreting data, and applying sound decision-making skills
will be strengthened. Students will develop the computation skills needed to solve
valuable shortcuts, speed, and accuracy. The curriculum covers check and bank records
including online banking, calculating pay, taxes, budgets, borrowing money, credit cards,
saving, investing, and insurance. Purchasing and selling for a business and profit and
loss will be introduced. The use of the calculator and EXCEL are integrated throughout
the course.

Recommended for:       All students
Course length:     Full year
Credits:      1 (Mathematics Credit)
Level:     III

Goals

Develop understanding of the basic principles of business mathematics

Acquire a mathematics foundation to apply to other business courses and lifelong learning

Prepare students to solve mathematics problems for personal, consumer, and business
applications

Use spreadsheets to prepare students to use math in their personal life and in the ever-
changing workplace

Competencies

Develop speed and accuracy in the performance of fundamental mathematics processes

Strengthen the ability to perform mental computations

Increase skill in estimating and evaluating answers

Provide a background in business terms, forms, tasks through the application of
Enhance skill in solving problems related to wage income

Solve problems related to buying and selling efficiently

Apply mathematics skills to budgeting and banking

Furnish a background for the efficient borrowing, saving, and investing of earnings

Provide experience in solving problems related to home and transportation expenses,
taxes, and insurance as they relate to personal life

Prepare students for today's jobs by incorporating math concepts using spreadsheet
functions and creating formulas

Use graphs and charts

Course Content

I. Earnings, Benefits, and Deductions

A.   Gross pay: hourly and salary
B.   Regular and overtime pay
C.   Commission
D.   Piece rate, per diem, and tips
E.   Deductions and net pay
F.   Job benefits and job expenses
G.   Fundamental processes reviewed and strengthened
1. Multiplication
2. Division
3. Estimation
4. Fractions
5. Ratio and proportion
6. Decimals
7. Percentage

A.   Planning a budget
C.   Sales tax and receipts
D.   Understanding utility expenses
E.   Fundamental processes
1. Costs of large quantities
2. Extension shortcuts

3. Unit pricing
III. Banking

A.   Checking accounts
B.   Electronic and on-line accounts
C.   Bank records
D.   Fundamental processes reviewed and strengthened
2. Subtraction

IV. Borrowing Money

A.   Computing interest
B.   Types of loans
D.   Fundamental processes
1. Exact and banker's interest
2. Interest tables
3. Due dates and times of notes
4. Installment loans
5. Credit cards

V. Saving and Investing Money

A.   Savings accounts
B.   Money markets and CD accounts
C.   Real estate
D.   Fundamental processes
1. Compounding interest
2. Effective rate of interest
3. Capital investment

VI. Major Consumer Expenses

A.   Housing
B.   Transportation--MSRP, leasing
C.   Taxes--property, sales, excise, income, FICA
D.   Insurance--health, life, property, auto
E.   Fundamental processes
1. Understanding and interpreting charts
3. Depreciation
4. Mortgages

Instructional Methodologies

Lecture/note taking

Discussion
Worksheet exercises
Vocabulary notebooks
Simulation exercises
Budgeting projects
Cooperative learning

Instructional Resources (Students)

Texts
--Business Mathematics, 15th Edition, South-Western Thomson Learning, 2003
--Business Math Using Excel, South-Western Thomson Learning, 2005
Simulations
-- Calculating Machines Simulation, 5th Edition, South-Western Educational
Publishing, 2000
-- Bank Boston's How To Do Your Banking
Federal and state income tax publications

Teacher Resources

Instructor's Edition of Business Mathematics, 15th Edition, South-Western Thomson
Learning, 2003
Instructor's Edition of Business Mathematics, 15th Edition Workbook, South-Western
Thomson Learning, 2003
Instructor's Edition of Business Math Using Excel, South-Western Thomson
Learning, 2005
Instructor's Edition of Calculating Machines Simulation, 5th Edition, South-Western
Educational Publishing, 2000
Instructor's Edition of Bank Boston's How To Do Your Banking

Curriculum Map

Term I
Weeks 1 and 2
Introduction to course, class expectation, introductory paper work
Decimal number system
Round numbers
Use Excel to round numbers

Use Excel to solve problems involving addition--create formulas
Identify terms used with subtraction
Use Excel to solve problems involving subtraction--create formulas
Identify terms used with multiplication
Use Excel to solve problems involving multiplication--create formulas
Identify terms used with division
Use Excel to solve problems involving division--create formulas
Combine basic math operations in Excel
Identify terms used with fractions and mixed numbers
Use Excel to enter fractions and mixed numbers
Use Excel to add and subtract fractions and mixed numbers
Copy formulas in Excel
Use Excel to multiply and divide numbers and fractions
Identify terms used with percents
Use Excel to format a percent, decimal, or fraction

Week 3
Gross pay for hourly employees
Gross pay for salaried employees
Recording hours worked
Overtime and overtime pay rates
Regular and overtime wages
Use Excel to calculate straight time, overtime, and double time

Week 4
Straight commission
Commission based on quota
Rate of commission on sales

Week 5
Piece-rate employees
Per diem employees
Tip employees
Use Excel to calculate various methods of compensation

Week 6
Federal withholding tax deduction
Social Security and Medicare tax deductions
Tax deductions and net pay
Use Excel to calculate Social Security, Medicare, federal income tax and state income tax
Absolute cell referencing
Deductions from gross pay

Week 7
Use Excel to create a payroll register
Total and net job benefits

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