Determine the price of products after applying coupons, sales incentives, and/or rebates.
Assess and calculate markup or markdown.
Determine the rate of the markup or markdown.
Find the cost, markup, or selling price when any two of the three are known.
Convert markups from cost to selling price or from selling price to cost.
Analyze business data to discover trends for strategic decision-making.
Calculate mean, median, and mode in business data, and use results to measure progress toward business goals.
Examples: salary, pricing
Distinguish between a simple average and a weighted average and calculate each.
Make predictions and decisions based on data and explain reasoning.
Explain how using statistics, probability, and systems of measurement impacts business decisions.
Analyze lending methods including construction loans, second mortgages, refinancing, and investment capital.
Display business data in tables, charts, graphs, and infographics.
Identify and construct various types of graphs and charts to interpret business data.
Compile and arrange numerical facts in an organized manner in a table, chart, or infographic to support a business presentation and/or to validate purchase decisions.
Evaluate and solve practical problems involving business and consumer applications, including business tax forms, pricing for profit, sales records, income and expenses, profit and loss, double-entry bookkeeping, debits, and credits.
Analyze journals, statements, ratio analysis, percent analysis, and inventory turnover.
Create an individual payroll and earnings record for a salaried and an hourly worker.
Calculate pay based on piecework, salary, commissions, and graduated commissions.
Calculate gross pay based on an hourly wage with an overtime policy.
Calculate an employee’s net earnings per pay period using varied amounts for health insurance, FICA, and tax deductions.
Explain the costs and benefits of payroll-deducted flexible benefit packages.
Examples: IRA, 401(k), flexible spending plans
Describe and calculate federal and state taxes associated with employee payroll.
Find the federal tax withholding amount per paycheck for an individual, using IRS tax tables and IRS percentage method.
Calculate an employee’s Social Security tax and Medicare tax per paycheck.
Determine an employer’s total deposit for withheld income tax, Social Security tax, and Medicare tax per pay period and quarterly for a group of employees.
Compute business expenses related to employees.
Examples: benefits, disability insurance, travel, employee training
Examine rates, amount of interest, and proceeds of bank discounts for various loans and explain how variations in these factors impact financial outcomes and decisions.
Calculate simple interest using the simple interest formula for a personal and a business loan based on various credit scores.
Calculate any single variable (principal, interest rate, amount of interest, or time) given the other three to evaluate optimal conditions for pursuing a bank loan.
Explain the process of discounting a promissory note and calculate the proceeds of a discounted promissory note.
Explain maturity value and find the maturity value of a loan.
Compute compound interest on a loan by compounding annually.
Create an amortization table in spreadsheet software showing interest compounded daily using varying rates and terms.
Explain investment terms including risk, yields, price to earnings (P/E) ratio, and rate of return.
Explain the effects of compounding in an investment and lending environment.
