CLUSTER
Business and Marketing
COURSE
Business Math
WVEIS CODE
BM1419
Course Description:
The Skill Sets in this course are representative of the basic knowledge included in a Career and Technical
Education/Business and Marketing concentration. Incorporated into this course are elements of introductory
business math knowledge and skills necessary for a career in the business and marketing field. This course is
recommended as an Elective in the Administrative Support concentration.
SKILL SETS
Computation Skills
Banking and Personal Finance
Basic Accounting Concepts
Insurance Fundamentals
1
Business Math
WVEIS 1419
Skill Set
Knowledge Objectives
Computation Skills
Students will demonstrate knowledge of
1419.1
 computation skills needed to solve business and consumer problems.
Performance Objectives Students will
1419.2
1419.3
1419.4
Skill Set
Knowledge Objectives



solve problems that involve numbers, decimals and fractions.
solve problems that involve percentages, ratios and proportions.
analyze tables, charts and graphs.
Banking and Personal Finance
Students will demonstrate knowledge of
 payroll records, taxation, personal cash management and credit management.
1419.5
Performance Objectives Students will
1419.6
1419.7
1419.8
1419.9
1419.10
1419.11
1419.12
1419.13
1419.14
1419.15
1419.16
1419.17
Skill Set
Knowledge Objectives



calculate earnings using different wage plans.
determine payroll deductions and compute net pay.
prepare a deposit slip, maintain a checkbook and prepare a reconciliation
statement.
 analyze the types of savings and checking accounts currently available.
 identify and demonstrate how certified checks and cashier’s checks are used.
 classify endorsements and state when to use each.
 prepare a budget for personal money management.
 compute individual income taxes.
 compare an installment contract and a promissory note.
 calculate interest and maturity value for an installment contract and a
promissory note.
 determine the balance due for installment purchases.
 compile finance/additional charges, periodic payment, total cost and the annual
percentage rate (APR) on an installment contract.
Basic Accounting Concepts
Students will demonstrate knowledge of
1419.18
 basic accounting concepts.
Performance Objectives Students will
1419.19

1419.20

1419.21

1419.22

calculate purchase cost, salvage value, useful life, depreciation base and book
value.
compute depreciation by the following methods: straight-line, sum-of-yearsdigits, declining balance and unit-of-production.
compute physical inventory value using FIFO, LIFO, specific identification
and average cost methods.
compute net profit or loss.
2
1419.23
1419.24
1419.25
1419.26
1419.27
1419.28
1419.29
1419.30
1419.31
Skill Set
Knowledge Objectives

determine the dollar amount of cost, markup or sales price when one of the
three variables is unknown.
 determine the dollar amount of markdowns, regular selling price or reduced
price when one of the three variables is unknown.
 complete a sales invoice with sales information and sale tax.
 categorize each element of the fundamental accounting equation (Assets =
Liabilities + Owner’s Equity).
 prove the debit and credit theory.
 interpret a balance sheet.
 interpret an income statement.
 distribute partnership income (revenue) or loss by different methods.
 calculate commissions.
Insurance Fundamentals
Students will demonstrate knowledge of
1419.32
 term and whole life insurance.
Performance Objectives Students will
1419.33
1419.34


compute insurance premiums.
examine differences between term and whole life insurance policies.
3