CIMA C03 Fundamentals of Business Mathematics Probability

CIMA C03 Fundamentals of Business Mathematics Probability : This course is part of the following part-time on campus and/or online program(s):

• Business – Accounting
• Business – Accounting

The essentials of arithmetic and its applications, including fractions, decimals, percentages, mathematics of buying and selling, payroll, taxes, depreciation and inventory are examined. Students are introduced to the mathematics of finance, including simple and compound interest, annuities, sinking funds, amortization and consumer credit.

CIMA C03 Fundamentals of Business Mathematics Probability

Business mathematics mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis. Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability. Business management can be done more effectively in some cases by use of more advanced mathematics such as calculus, matrix algebra and linear programming.

“Business Mathematics” includes mathematics courses taken at an undergraduate level by business students. These courses typically do not go into the same depth as standard courses in the mathematics or science fields. The two most common mathematics courses taken in this form are Business Calculus and Business Statistics. These courses are usually focused on problems from the business world, and the syllabus is adjusted correspondingly. Thus for example, whereas in a regular calculus course students would study trigonometric functions, courses here would not typically cover this area. (Note that economics majors, however, especially those planning to pursue graduate study in the field, are encouraged to instead take regular calculus, as well as linear algebra and other advanced math courses, especially real analysis.)