17 Credits: Finance
Complete Business Math for Accountants provides accountants, managers, and business entrepreneurs with the information, analyses, and insights necessary to analyze and calculate the consequences of a wide range of business financial strategies and problems. The ability to select the right operational technique is vital if the business is to survive, profit, and grow in today’s uncertain economic environment. The owner of a small business must be able to make the right financial decision based on sound mathematical reasoning in order to run the business efficiently. They must understand the problem, and then apply math skills to solve it.
This course contains hundreds of filled-in examples, illustrations, practical applications, measures, procedures, rules of thumb, statistical data, exhibits, tables, graphs, and diagrams. They are presented to aid in the comprehension and successful solution of a particular problem. The reader will also learn when, why and how to use the appropriate computational method.
Upon successful completion of this course, participants will be able to:
- Compute the cost of credit using different methods.
- Calculate due dates.
- Define and compute the cost of capital.
- Recognize the major steps in budget preparation.
- Calculate a production budget.
- Identify budget accuracy ratios.
- Recognize importance of cash budgeting and the steps involved.
- Identify different methods used for business forecasting.
- Recognize how regression analysis can be used, and the implication of regression statistics.
- Recognize the attributes of the Chi-Square test.
- Identify components of the cash flow statement and different financing activities.
- Recognize how to manage cash and accounts receivable properly.
- Calculate cash flow from operations and average collection periods.
- Identify key concepts behind the economic order quantity (EOQ).
- Calculate inventory reorder point.
- Recognize the concepts of the ABC inventory control method.
- Recognize sales ratios used by management.
- Calculate the relationships among price, costs, volume, and profit.
- Identify how to calculate the break-even sales.
- Recognize how the elasticity of demand affects total sales revenue.
- Recognize how the risk-return tradeoff is important in decision making.
- Calculate payback periods for different projects.
- Calculate the present value and identify how to calculate the present value of an annuity.
- Calculate the profitability index.
- Recognize internal rate of return and capitalization rate.
- Recognize some commonly used operating ratios
- Identify how to use charting to help communicate business operations
- Recognize the components of the balance sheet, including assets and equity.
- Identify attributes of the income statement.
- Recognize different ratios used in financial analysis, including liquidity, debt and profitability ratios.
- Identify how management can use and improve ROI.
- Compute residual income and identify how it is different than ROI.
- Recognize how marginal analysis can used for business decisions.
- Calculate average (mean), median, and mode.
- Compute standard deviation.
- Recognize the coefficient of variation and the normal distribution.
- Recognize different types of insurance
- Identify insurance terms such coinsurance and fair payment
- Identify the basis for how much insurance is needed
- Recognize how to determine human resource needs
- Identify attributes of a benefits packages
- Recognize the cost factor of human resources and how it varies by organization types
- Recognize different methods used for determining the price of a business.
April 28, 2023
Basic Math and Accounting
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
For many years, Delta CPE LLC has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.