1. Whole Numbers.
Place Value and Our Number System. Read whole numbers. Write whole numbers. Round whole numbers.
Operations with Whole Numbers—Five-Step Problem-Solving Strategy introduced with addition and continued throughout text. Add whole numbers. Subtract whole numbers. Multiply whole numbers. Divide whole numbers.
2. Fractions. Fractions. Identify types of fractions. Convert an improper fraction to a whole or mixed number. Convert a whole or mixed number to an improper fraction. Reduce a fraction to lowest terms. Raise a fraction to higher terms.
Adding and Subtracting Fractions. Add fractions with like (common) denominators. Find the least common denominator for two or more fractions. Add fractions and mixed numbers. Subtract fractions and mixed numbers.
Multiplying and Dividing Fractions. Multiply fractions and mixed numbers. Divide fractions and mixed numbers.
3. Decimals. Decimals and the Place-Value System. Read and write decimals. Round decimals.
Operations with Decimals. Add and subtract decimals. Multiply decimals. Divide decimals.
Decimal and Fraction Conversions. Convert a decimal to a fraction. Convert a fraction to a decimal.
4. Banking. Checking Account Forms. Make account transactions. Record account transactions.
Bank Statements. Reconcile a bank statement with an account register.
5. Equations. Equations. Solve equations using multiplication or division. Solve equations using addition or subtraction. Solve equations using more than one operation. Solve equations containing multiple unknown terms. Solve equations containing parentheses. Solve equations that are proportions.
Using Equations to Solve Problems. Use the problem-solving approach to analyze and solve word problems.
6. Percents. Percent Equivalents. Write a whole number, fraction, or decimal as a percent. Write a percent as a whole number, fraction, or decimal.
Solving Percentage Problems. Identify the rate, base, and portion in percent problems. Use the percentage formula to find the unknown value when two values are known.
Increases and Decreases. Find the amount of increase or decrease in percent problems. Find the new amount directly in percent problems. Find the rate or the base in increase or decrease problems.
7. Business Statistics. Measures of Central Tendency. Find the mean. Find the median. Find the mode.
Frequency Distributions and Graphs. Make and interpret a frequency distribution. Interpret and draw a bar graph. Interpret and draw a line graph. Interpret and draw a circle graph.
Measures of Dispersion. Find the range. Find the standard deviation.
8. Trade and Cash Discounts. Net Price and the Trade Discount. Find the trade discount using a single trade discount rate; find the net price using the trade discount. Find the net price using the complement of the single trade discount rate.
Net Price and the Trade Discount Series. Find the net price, applying a trade discount series and using the net decimal equivalent. Find the trade discount, applying a trade discount series and using the single discount equivalent.
Net Amount and the Cash Discount. Find the cash discount and the net amount using ordinary dating terms. Interpret and apply end-of-month (EOM) terms. Interpret and apply receipt-of-goods (ROG) terms. Find the amount credited and the outstanding balance from partial payments. Interpret freight terms.
9. Markup and Markdown. Markup Based on Cost. Find the cost, markup, or selling price when any two of the three are known. Find the percent of markup based on the cost when the cost and selling price are known. Find the selling price when the cost and the percent of markup based on the cost are known. Find the cost when the amount of markup and the percent of markup based on cost are known. Find the cost when the selling price and the percent of markup based on the cost are known.
Markup Based on Selling Price and Markup Comparisons. Find the amount of markup and the percent of markup based on the selling price when the cost and selling price are known. Find the selling price when the amount of markup and the percent of markup based on the selling price are known. Find the selling price when the cost and the percent of markup based on the selling price are known. Find the cost when the selling price and the percent of markup based on the selling price are known. Compare the markup based on the cost with the markup based on the selling price.
Markdown, Series of Markdowns, and Perishables. Find the amount of markdown, the reduced (new) price, and the percent of markdown. Find the final selling price for a series of markdowns. Find the selling price for a desired profit on perishable and seasonal goods.
10. Payroll. Gross Pay. Find the gross pay per paycheck based on salary. Find the gross pay per weekly paycheck based on hourly wage. Find the gross pay per paycheck based on piecework wage. Find the gross pay per paycheck based on commission.
Payroll Deductions. Find the federal tax withholding per paycheck using IRS tax tables. Find federal tax withholding per paycheck using the IRS percentage method. Find Social Security tax and Medicare tax per paycheck. Find net earnings per paycheck.
The Employer's Payroll Taxes. Find an employers total deposit for withholding tax, Social Security tax, and Medicare tax per pay period. Find an employers SUTA tax and FUTA tax due for a quarter.
11. Simple Interest and Simple Discount. The Simple Interest Formula. Find simple interest using the simple interest formula. Find the maturity value of a loan. Convert months to a fractional or decimal part of a year. Find the principal, rate, or time using the simple interest formula.
Ordinary and Exact Time and Interest. Find ordinary and exact time. Find the due date. Find the ordinary interest rate per day and the exact interest rates per day. Find simple interest using a table.
Promissory Notes. Find the bank discount and proceeds for a simple discount note. Find the third-party discount and proceeds for a third-party discount note.
12. Consumer Credit. Installment Loans and Closed-End Credit. Find the amount financed, the installment price, and the finance charge of an installment loan. Find the installment payment of an installment loan. Find the estimated annual percentage rate (APR) using a table.
Paying a Loan Before It Is Due: The Rule of 78. Find the interest refund using the rule of 78.
Open-End Credit. Find the finance charge and new balance using the average daily balance method.
13. Compound Interest, Future Value, and Present Value. Compound Interest and Future Value. Find the future value by compounding manually. Find the future value using a $1.00 future value table. Find the effective interest rate. Find the interest compounded daily using a table.
Present Value. Find the present value based on annual compounding for one year. Find the present value using a $1.00 present value trade.
14. Annuities and Sinking Funds. Future Value of an Annuity. Find the future value of an ordinary annuity using the simple interest formula method. Find the future value of an ordinary annuity using a $1.00 ordinary annuity future value table. Find the future value of an annuity due using the simple interest formula method. Find the future value of an annuity due using a $1.00 ordinary annuity future value table.
Sinking Funds and the Present Value of an Annuity. Find the sinking fund payment using a $1.00 sinking fund payment table. Find the present value of an ordinary annuity using a $1.00 ordinary annuity present value table.
15. Mortgages. Mortgage Payments. Find the monthly mortgage payment using a table. Find the total interest on a mortgage.
Amortization Schedule. Prepare a partial amortization schedule of a mortgage.
16. Depreciation. Depreciation Methods for Financial Statement Reporting. Depreciate an asset and prepare a depreciation schedule using the straight-line method. Depreciate an asset and prepare a depreciation schedule using the units-of-production method. Depreciate an asset and prepare a depreciation schedule using the sum-of-the-years-digits method. Depreciate an asset and prepare a depreciation schedule using the declining-balance method.
Depreciation Methods for IRS Reporting. Depreciate an asset and prepare a depreciation schedule using the modified accelerated cost-recovery system (MACRS). Depreciate an asset after taking a section 179 deduction.
17. Inventory. Inventory. Use the specific identification inventory method to find the ending inventory and the cost of goods sold. Use the weighted-average inventory method to find the ending inventory and the cost of goods sold. Use the first-in, first-out (FIFO) inventory method to find the ending inventory and the cost of goods sold. Use the last-in, first-out (LIFO) inventory method to find the ending inventory and the cost of goods sold. Use the gross profit method to estimate the ending inventory and the cost of goods sold.
Turnover and Overhead. Find the inventory turnover rate. Find the department overhead based on sales or floor space.
18. Insurance. Life Insurance. Estimate life insurance premiums using a rate table. Apply the extended term nonforfeiture option to a cancelled straight-life policy.
Property Insurance. Estimate fire insurance premiums using a rate table. Find the refund for a cancelled policy. Find the compensation with a coinsurance clause.
Motor Vehicle Insurance. Find automobile insurance premiums using rate tables.
19. Taxes. Sales Tax. Use the percent method to find the sales tax. Find the marked price and the sales tax from the total price.
Property Tax. Find the assessed value. Calculate property tax. Determine the property tax rate.
Income Taxes. Find taxable income. Use the tax tables to calculate income tax. Use the tax rate schedules to calculate income tax.
20. Financial Statements. The Balance Sheet. Prepare a balance sheet. Prepare a vertical analysis of a balance sheet. Prepare a horizontal analysis of a balance sheet.
Income Statements. Prepare an income statement. Prepare a vertical analysis of an income statement. Prepare a horizontal analysis of an income statement.
Financial Statement Ratios. Find and use financial ratios.
21. Stocks and Bonds. Stocks. Read stock listings. Calculate and distribute dividends.
Bonds and Mutual Funds. Read bond listings. Calculate the price of bonds. Read mutual fund listings.
