#### Business Math Specialist Certificate Program with Externship

**Program includes National Certification & an Externship Opportunity**

- Course Duration: 6 Months
- Type: Certificate
- Languages: English
- Certifications : Included
- Course Contact Hours : 375
- Externship : Included

**The Business Math Specialist**

Math skills are fundamental to sound business skills. The ability to analyze and interpret data is more and more valued in this data- and information-driven world. Interpreting data for business – no matter what sector it is – is imperative to making informed decisions. And with information and data so much more widely available than ever before, there’s no excuse not to use this information to make sound business decisions every day. Algebra and statistics are fundamental skills individuals require for success regardless of the industry they enter, particularly in pursuing careers in Business or Computer Science.

**The Business Math Specialist Program**

This program applies math fundamentals to business applications. Topics include a basic math review, business statistics, profit calculations, payroll, banking, interest calculations, insurance, taxes, and other business topics. Upon completion of this program, students will have a fundamental understanding of how to solve mathematical problems as they pertain to various business transactions. Further, students will also analyze common business problems using mathematical equations and concepts as well as useful business statistics calculations.

**Program Objectives**

At the conclusion of this program, students will be able to:

- Solve mathematical problems using whole numbers, fractions, and decimals
- Reconcile bank statements
- Solve equations
- Analyze business problems using percentages and statistical concepts
- Apply mathematical concepts to business problems involving pricing and discounts
- Explain various payroll issues that affect employers and employees
- Apply mathematical concepts to business lending transactions
- Apply mathematical concepts to business transactions involving annuities and stocks and bonds
- Calculate various mortgage problems
- Apply various depreciation methods
- Apply mathematical concepts to business transactions involving inventory
- Calculate various insurance and tax transactions
- Analyze financial statements using mathematical concepts
- Use Microsoft Office

**WHOLE NUMBERS, FRACTIONS, AND DECIMALS**

- Identify whole numbers
- Add, subtract, multiply, and divide whole numbers
- Identify types of fractions
- Add, subtract, multiply, and divide fractions
- Add, subtract, multiply, and divide decimals
- Convert decimals and fractions

**BANKING AND EQUATIONS**

- Reconcile bank statements
- Describe various banking transactions
- Write account transactions
- Explain the elements of an equation
- Solve equations using multiplication, division, addition, and subtraction
- Solve equations using multiple operations, containing multiple unknowns, parentheses, and proportions
- Use the problem-solving approach to analyze and solve word problems
- Explain how equations are used to solve mathematical problems

**PERCENTAGES AND STATISTICS**

- Write a whole numbers, fractions, or decimals as a percentage and the reverse
- Solve percentage problems by identifying the rate, base, and portion
- Use the percentage formula to identify the unknown
- Calculate the percentage increase, decrease, rates, or base in percentage problems
- Identify measures of central tendency
- Use mathematical equations to find the mean, median, and mode
- Explain the use of frequency distributions and graphs for reporting data sets
- Create and interpret a frequency distribution
- Create and interpret a bar, line, and circle graph
- Describe the statistical measures of dispersion
- Calculate range and standard deviation

**TRADE AND CASH DISCOUNTS, MARKUP AND MARKDOWN**

- Describe how discounts and net price are established
- Explain how manufacturers and distributors use trade discounts
- Explain various merchandising terms
- Explain how cost, markup, and selling price can be related
- Explain the reasons for markdowns
- Compute a markdown

**PAYROLL**

- Describe payroll issues that affect both the employer and the employee
- Calculate gross pay based upon salary, hourly, piecework, and commission
- Compute various tax withholdings and net pay
- Compute the employer's share of taxes

**SIMPLE INTEREST AND SIMPLE DISCOUNT, CONSUMER CREDIT, COMPOUND INTEREST, FUTURE VALUE AND PRESENT VALUE**

- Explain the simple interest formula, ordinary and exact time and interest
- Identify the elements of a promissory note
- Define terms related to consumer credit
- Explain how installment loans and closed-end credit are calculated and the rule of 78
- Explain open-end loans
- Describe how compound interest, future value, and present value are calculated
- Calculate simple interest, maturity value, principle, rate, and time
- Calculate ordinary time, exact time, due date, daily interest rate, and simple interest
- Calculate promissory note items, amount financed, installment price, and finance charge
- Calculate the installment payment and Annual Percentage Rate (APR)
- Calculate the interest refund using the rule of 78
- Calculate the finance charge and balance for open-end credit
- Calculate the future value, present value, and effective interest

**ANNUITIES, SINKING FUNDS, STOCKS, AND BONDS**

- Explain annuities and sinking funds
- Calculate the future value of an annuity, the present value of an annuity, and the sinking fund payment
- Define terms as related to stocks and bonds
- Interpret stock listings
- Interpret bond and mutual fund listings
- Calculate and distribute dividends
- Calculate the price of bonds

**MORTGAGES**

- Define terms related to mortgage payments
- Explain how mortgage payments are calculated
- Calculate the monthly mortgage payment and total interest
- Produce an amortization schedule

**DEPRECIATION**

- Explain depreciation methods for financial statement reporting
- Explain depreciation methods for Internal Revenue Service (IRS) reporting
- Calculate depreciation using the straight-line, units-of-production, sum-of-the-years-digits, and declining balance methods
- Calculate depreciation using various tax depreciation methods

**INVENTORY**

- Explain the concepts of inventory, turnover, and overhead
- Calculate ending inventory and cost of goods sold using the specific identification, weighted-average, FIFO(First In, First Out), LIFO(Last In, First Out), retail, and gross profit methods
- Compute the inventory turnover rate and overhead

**INSURANCE AND TAXES**

- Define various terms related to insurance
- Explain the purpose of insurance and how premiums and refunds are determined
- Estimate life, property, and vehicle premiums and cancellation
- Describe the various types of taxes collected by the government
- Explain how different types of taxes are determined
- Calculate sales, property, and income taxes

**FINANCIAL STATEMENTS**

- Explain the purpose of a balance sheet and income statement
- Describe the purpose of a financial ratio
- Complete a balance sheet and income statement
- Analyze financial statements using financial ratios and analyses

**Note: This program can be completed in 6 months. However, students will have online access to this program for a 24-month period.**

**Education and National Certifications**

- Students should have or be pursuing a high school diploma or GED.
- There are no state approval and/or state requirements associated with this program.
- There is a National Certification exam available to students who successfully complete this program:
**Microsoft Office Specialist (MOS) Certification Exam**

**National Certification**

Upon successful completion of this program, students would be eligible to sit for the Microsoft Office Specialist (MOS) exam. Although there are no state approval, state registration or other state requirements for this program, students who complete this program will be prepared and are eligible to sit for this national certification exam. Students who complete this program are encouraged to complete the externship option with their program. Students who complete this program can and do sit for the MOS national certification exams and are qualified, eligible and prepared to do so. works with each student to complete the exam application and register the student to take their national certification exam.

**Externship / Hands on Training / Practicum**

Although not a requirement, once students complete the program, they have the ability to participate in an externship and/or hands on practicum so as to practice the skills necessary to perform the job requirements of a professional in this field. Students will be assisted with completing a resume and/or other requirements necessary to work in this field. All students who complete this program are eligible to participate in an externship and will be placed with a participating organization near their location. works with national organizations and has the ability to place students in externship opportunities nationwide.

**Note: No refunds can be issued after the start date published in your Financial Award document.**