TRI-COUNTY TECHNICAL COLLEGE

Pendleton, South Carolina

 COURSE SYLLABUS

Catalog Course Description:   This course includes the following topics:  commissions; mark-on; depreciation; interest on unpaid balances; compound interest; payroll; taxes and graphs; introduction to binary numbers; and SI measurement.

Entry Level Skills:   Basic arithmetic operations

Prerequisites:   Satisfactory score on the placement test

Corequisites:   None

Text(s):     Business Math by Cheryl Cleaves and Margie Hobbs, 7^th Edition, Prentice Hall, 2005 

Equipment:  Scientific calculator

                                 Department Head                                 Division Chair

                                  Vice President for Academic Affairs                              

RATIONALE/GENERAL COURSE GOALS  

Students in all business and computer fields of study need to know the terminology and accompanying math routines used daily in business and finance.  These computational and problem-solving skills are foundational to courses in the business and computer technology courses.  

The broad categories of these skills and applications are as follows:  

1.         Basics of place value, calculator use, graphs, binary system, percents, retailing, SI measurement.

2.         Payroll, bank statements, and depreciation

3.         Simple interest, simple discount, compound interest   

SCHOOL-WIDE COMPETENCIES

Upon completion of this course the student should be able to:  

1.         read articles related to mathematics and write a summary to each article, using correct English and appropriate mathematical terminology;

2.         ask and answer questions using correct English and appropriate mathematical terminology;

3.         demonstrate basic arithmetic, measurement system, and algebra;

4.          demonstrate responsibility and self-discipline by meeting deadlines;

5.         demonstrate self-discipline by contributing positively in class as well as in group activities;

6.         access appropriate resources such as journals, magazines, and books to accomplish course goals;

7.         demonstrate technical proficiency with a scientific calculator in performing skills appropriate to the course;

8.         set up and calculate the solutions to problems appropriate to the course;

9.         determine appropriate strategies for solving a problem, given certain facts and data;

10.     interpret results and determine whether the solution is realistic for a particular problem.

COURSE REQUIREMENTS/TOPICAL OUTLINE/DAILY SCHEDULE

Approximately 3½ weeks should be allowed for each unit, including testing.  

Unit I :  Problem Solving, Bank Records and Payroll

( Objectives 1 through 17 are designed to be a review for students. )  

Upon completion of this unit, the student should be able to:

1.      read, write, round, add, subtract, multiply and divide whole numbers; 

2.      read, write round, add, subtract, multiply and divide decimals ;

3.      verify that two fractions form a proportion ;

4.      find a missing term in a proportion;

5.      use from memory the metric prefixes in computing length, area, capacity and weight;

6.      use proportions to change units of measure;

7.      identify types of fractions and change fractions from one form to another;

8.      add, subtract, multiply and divide fractions;

9.      write a fraction as a decimal and a decimal as a fraction;

10.  write a whole number, fraction or decimal as  percent and vice versa;

11.  use the percentage formula to find the percentage, base and rate;

12.  use percentage proportion to solve problems;

13.  evaluate formulas;

14.  solve equations using any of the four basic operations;

15.  solve equations that are proportions;

16.  read and construct tables, bar graphs, line graph and circle graphs;

17.  fill out a bank check, a check stub and a bank deposit ticket;

18.  use an account register;

19.  read and reconcile a bank statement;

20.  find the gross pay per paycheck based on salary, hourly wage, piecework wage, or commission;

21.  find federal withholding tax per paycheck using IRS tax tables and IRS percentage method;

22.  find FICA tax, Medicare tax and net earnings per pay period;

23.  find an employers total deposit for withholding tax, FICA tax and Medicare tax per pay period;

24.  find an employers SUTA tax and FUTA tax due for a quarter. 

This unit will cover Chapters 1-4, and 10 in the text.   Doing all odd-numbered problems will give you the required drill and applications necessary to master the material; however, your instructor may assign specific problems for you to do.   

Unit II : Trade and Cash Discounts, Markup and Markdown, Simple Interest and Simple Discount  

Upon completion of this unit the student should be able to:  

1.      find the trade discount using a single discount rate; find the net price using the trade discount;

2.      find the net price using the complement of the single trade discount rate;

3.      find the net price, applying a trade discount series and using the net decimal equivalent;

4.      find the trade discount applying a trade discount series and using the single discount equivalent;

5.      find the cash discount and net amount using ordinary dating terms;

6.      interpret and apply receipt of goods (ROG) terms and end of month (EOM) terms;

7.      find the amount credited and the outstanding balance from partial payments;

8.      interpret freight terms;

9.      find the markup, cost, selling price, rate of markup, or rate of selling price when the markup is based on cost and selling price; 

10.  compare markup based on cost with markup based on selling price;

11.  find the markdown, reduced price, original selling price, rate of markdown, or rate of reduced price;

12.  find the final selling price for a series of markups and markdowns;

13.  find the selling price to achieve a desired profit (markup);

14.  find simple interest using the simple interest formula;

15.  find the maturity value of a loan;

16.  find the principal, rate or time using the simple interest formula;

17.  find ordinary time, exact time, due dates of loans, and interest using ordinary and exact interest;

18.  find simple interest using a table;

19.  find the bank discount and proceeds for a simple discount note and a third party discount note. 

This unit will cover Chapters 8, 9, and 11 in the text.  Doing all odd-numbered problems will give you the required drill and applications necessary to master the material; however, your instructor may assign specific problems for you to do.  

Unit III : Compound Interest, Future Value and Present Value, Annuities and Sinking Funds, Depreciation  

Upon completion of this unit, the student should be able to  

1.      use the simple interest formula to find  future value;

2.      find the future value using a $1.00 future table value;

3.      find the effective interest rate;

4.      find the interest rate compounded daily using a table;

5.      find the present value based on annual compounding for one year;

6.      find the present value using a $1.00 present value table;

7.      find the future value of an ordinary annuity using the simple interest formula method and the $1.00 ordinary annuity future value table;

8.      find the future value of an annuity due using the simple interest formula method and the $1.00 ordinary annuity future value method;

9.      find the sinking fund payment using a $1.00 sinking fund payment table;

10.  find the present value of an ordinary annuity using a $1.00 ordinary annuity present value table;

11.  depreciate an asset and prepare a deprecation schedule using the straight line method, the units-of - production method, the sum of the years' digits method, the declining balance method and the modified accelerated cost-recovery system (MACRS);

12.  deprecate an asset after taking a section 179 deduction. 

This unit will cover Chapters 13, 14, and 16 in the text.  Doing all odd-numbered problems will give you the required drill and applications necessary to master the material; however, your instructor may assign specific problems for you to do.  

Unit IV: Inventory, Turnover, and Overhead; Financial Statement; Taxes  

Upon completion of this unit, the student should be able to  

1.      use the specific identification inventory method to find the cost of goods sold;

2.      use the weighted-average inventory method to find the cost of goods sold;

3.      use the first-in, first-out (FIFO) or last-in, first-out (LIFO) inventory method to find the cost of goods sold ;

4.      use the retail inventory method to find the cost of goods sold;

5.      find the inventor turnover rate;

6.      find the departments overhead based on sales and based on floor space;

7.      prepare a balance sheet;

8.      prepare a horizontal or vertical analysis of a balance sheet;

9.      prepare an income statement;

10.  prepare a vertical or horizontal analysis of an income statement;

11.  find and use financial ratios;

12.  use table to find sales tax;

13.  use the percent method to find sales tax;

14.  find the marked price and sales tax from the total price;

15.  find the assessed value;

16.  calculate property tax and determine property tax rate;

17.  find taxable income;

18.  use tax tables and tax rate schedules to figure income tax.

This unit will cover Chapters 17, 19, and 20 in the text.  Doing all odd-numbered problems will give you the required drill and applications necessary to master the material; however, your instructor may assign specific problems for you to do.  

EVALUATION 

All courses taught by full-time and part-time faculty members of the mathematics department of Tri-County Technical College will be graded according to the following:  

1.         Letter grades assigned for numerical averages will be:  

90 -      100           A

80 -        89           B

70 -        79           C

60 -        69           D

Below     60           F 

2.         The exact method of calculating your grade, which will include a comprehensive final exam, will be announced by your instructor at the beginning of the course.  The final exam will count no less than a unit test and no more than 20% of the final grade. 

3.         Make-ups for missed tests will be given at the discretion of the instructor.  The instructor’s policy will be distributed on the first day of class.  It is the students’ responsibility to understand that policy should any questions arise.  

TRI-COUNTY TECHNICAL COLLEGE’S GRADING POLICY  

The following grading system is used for credit courses:  

A         Excellent                       “A” is used in GPA calculations, earns credit hours, and carries a value of 4 grade points for each credit hour. 

B          Above Average            “B” is used in GPA calculations, earns credit hours, and carries a value of 3 grade points for each credit hour.  

C         Average                       “C” is used in GPA calculations, earns credit hours, and carries a value of 2 grade points for each credit hour.  

D         Below Average             “D” is used in GPA calculations, earns credit hours, and carries a value of 1 grade point for each credit hour.  

F          Failure                          “F” is used in GPA calculations, earns no credit hours, and carries 0 grade points for each credit hour attempted.  (When the student retakes the course, the “F” is negated and the higher grade is used in GPA calculations.)  

WF      Withdrawn – Failing      “WF” is used in GPA calculations, earns no credit hours, and carries 0 grade points for each credit hour attempted.  (When the student retakes the course, the “WF” is negated; and the higher grade is used in GPA calculations.)  “WF” may be given from the first day after the tenth week through the last day of class before the final examination period if the student is failing.  (The time period for awarding “WF” grades will be prorated for ten-week summer session terms and for other terms of varying lengths.)  

W        Withdrawn                   “W” is not used in GPA calculations, earns no credit hours, and generates no grade points.  

INSTRUCTIONAL METHOD

This course is taught using a variety of techniques and methods that address different learning styles.  Class notes are expected, as well as graphing calculator use.  Additional help is available in several forms as follows:

1.         Your instructor will be more than willing to give special help over problem areas.  Please do not hesitate to ask for assistance. Office hours are posted outside the instructor’s office in Oconee Hall.

2.         The Learning Lab ( Room OC-300) is staffed with a lab instructor trained in mathematics who will be glad to help you with whatever problems you encounter.  Also in that lab are printed and computer materials available for your help.  The lab instructor will assist you in finding and using these materials.

3.         You may apply for one-on-one tutoring through Educational Services in the Counseling Center.

ATTENDANCE POLICY  

Tri-County Technical College believes that class attendance is crucial to student success.  Therefore, any student who accumulates more absences during the semester than the class meets in a two-week period is subject to being withdrawn from the class.  The number of allowable absences during the summer term or other terms of varying length will be 10% of the total number of class meetings.  

A student who arrives late may, at the discretion of the instructor, be marked absent for that class.  A student who continually arrives late to class is subject to being withdrawn from the class.  In extenuating circumstances, a student may request readmittance to class by meeting with the instructor and explaining the circumstances of the absences.  If the instructor agrees to readmit the student, the student will be informed of the requirements which must be met to successfully complete the course.  

ARTS AND SCIENCES DIVISION POLICY ON ACADEMIC DISHONESTY  

All forms of academic misconduct including, but not limited to, cheating on tests, plagiarism, collusion, and falsification of information will call for discipline.  Alleged violations will be handled according to College procedures.

A copy of the complete Procedure 3-2-1060.1, titled “The Student Code for the South Carolina Technical College System” can be reviewed in the Arts and Sciences Division Office.

STUDENTS WITH DISABILITIES  

If you have a documented disability and require special assistance or accommodations, please contact the Coordinator of Counseling in the Counseling Center.  

FIRE EMERGENCY PROCEDURE  

Fire extinguishers, fire alarm pull boxes, and evacuation maps are located in strategic areas throughout the buildings.  

In the event of a fire, the person discovering the fire must do the following:  

1.      Activate the pull box.  

2.      Obtain an outside line by dialing 9.  If you cannot obtain an outside line, contact the switchboard operator at extension “0" and ask for an outside line.  

3.      Dial 911 and report the location of the fire.  

4.      Dial 1800 (Security) and let ring at least ten times.  

Inform security that fire alarm box has been activated and 911 called.  Controllable fires should be dealt with by the appropriate application of fire extinguishers and other fire control equipment.  

At the instance of an alarm, all faculty and staff are responsible for seeing that the following items are accomplished:  

1.      All students clear the classroom and building in a rapid and orderly manner and proceed to a site at least fifty feet from the building.  

2.      The instructor will close the door when the last student has cleared the classroom.  

General Information  

1.      All individuals in a building should be evacuated in a rapid and orderly manner.  “All individuals” includes handicapped individuals who should be assisted in whatever manner is required to place them in a safe location.  

2.      If a fire occurs in one of the extension locations of the College, faculty and students are to follow the guidelines established by the extension.  Extension locations include such places as B.J. Skelton Career Center, Easley High School, or the Anderson Mall.  

3.      Injuries as a result of a fire should be dealt with according to Procedures 4-8-1010.2, Employee Illness and Injury and 4-8-1010.3, Student Illness and Injury.  

The administrator responsible will provide guidelines suitable for dissemination and posting and will distribute them to all faculty and staff at the beginning of each term.  The procedure for fire emergencies must be included in each syllabus.